Podcasts about Offshore

Share on
Share on Facebook
Share on Twitter
Share on Reddit
Copy link to clipboard
  • 990PODCASTS
  • 2,657EPISODES
  • 44mAVG DURATION
  • 2DAILY NEW EPISODES
  • Nov 29, 2021LATEST

POPULARITY

20112012201320142015201620172018201920202021


Best podcasts about Offshore

Show all podcasts related to offshore

Latest podcast episodes about Offshore

The Crude Life
PBIOS Podcast Party: A Push To Off Shore, Digital

The Crude Life

Play Episode Listen Later Nov 29, 2021


Scott Theriot, Danos, (and i2ms) joined podcast party host Jason Spiess at the PBIOS Podcast Party sponsored by The Wireline Group at the Permian Basin International Oil Show (PBIOS) in Odessa, Texas. The interview talks about their push into the off shore market, past renewable projects and what their Permian activities have been. Founded in [...]

JSEDirect with Simon Brown
Market review 29 November 2021

JSEDirect with Simon Brown

Play Episode Listen Later Nov 29, 2021 39:07


Offshore / Powell second term as Fed chair / Fed's Bostic says he remains open to faster taper and one or two rate hikes in 2022 / Online Black Friday sales in the US fell according to data from Adobe Analytics ($8.9bn vs. $9bn) / Opec+ meeting this week, production likely to remain unchanged / Turkish lira losses 20% Local / New variant crashes markets and leisure stocks (everything) / Good Invicta results, but no dividend / Good PPC results / Brait apital raise via convertiable bond / Hospital stock results; Life Healthcare & Netcare / Banking stocks

Bar Karate - The Sailing Podcast
Bar Karate - the Sailing Podcast Ep136 Stacey Jackson, pro sailor

Bar Karate - The Sailing Podcast

Play Episode Listen Later Nov 28, 2021 99:31


Published 28 November 2021We chat to Stacey Jackson. 2xVOR, 13 Sydney to Hobarts, pro sailor. Owner of Nauti Bags and 27 South Ocean Training.This was an absolute cracker of an episode, you will love listening to Stacey.#barkarate #sailingpodcast #barkaratesailorslarger #barkarateconversations   #worldsailingofficial #transatjacquesvabre #vendeeglobe #sailing #boat #ocean #sport #voile #sail #sea #offshore #sailors #sailingworld #extremesailing #foils #sailgp #yacht #yachts #saillife #instayacht #sailingblog #instasail #theoceanrace #vxone #vx_one_australia #nauti_bags #27southtraining #staceyjackson26 #ok.dinghy #bjorndunkerbeck #lafabriquefr

Colunistas Eldorado Estadão
Direto da Fonte: Ministro Guedes depõe sobre offshore na Câmara

Colunistas Eldorado Estadão

Play Episode Listen Later Nov 24, 2021 1:48


Sonia Racy participa do Jornal Eldorado de 2ª a 6ª feira, às 7h45, com a coluna Direto da Fonte. See omnystudio.com/listener for privacy information.

The Crude Life
PBIOS Podcast Party: Off Shore, Renewables And The Permian Play

The Crude Life

Play Episode Listen Later Nov 24, 2021


Juan Torres, general manager, Danos, joined podcast party host Jason Spiess at the PBIOS Podcast Party sponsored by The Wireline Group at the Permian Basin International Oil Show (PBIOS) in Odessa, Texas. The interview talks about their push into the off shore market, past renewable projects and what their Permian [...]

TV 247
Giro das 11 - Guedes se enrola sobre offshore na Câmara + A chacina: tortura e morte (23.11.21)

TV 247

Play Episode Listen Later Nov 23, 2021 122:44


Mauro Lopes recebe no Giro das 11 o ex-deputado Wadih Damous, a vereadora Tainá de Paula e a socióloga Berenice Bento

Suno Research
MORNING CALL - Paulo Guedes explica dólares em Offshore e mais

Suno Research

Play Episode Listen Later Nov 23, 2021 37:54


Paulo Guedes explica dólares em Offshore e Silva e Luna (PETR4) fala sobre reajustes de combustíveis. Acompanhe o Suno Notícias também no youtube: https://www.youtube.com/channel/UC74FvQ6GtdwRmENGymLjqNA

The Epstein Chronicles
The GRATS Scheme

The Epstein Chronicles

Play Episode Listen Later Nov 21, 2021 24:50


Jeffrey Epstein and his friends had many different ways to avoid paying taxes but one of their biggest hustles wasn't even illegal. Let's talk GRATS. (Commercial at 13:56)To contact me:Bobbycapucci@protonmail.comhttps://www.counterpunch.org/2021/02/22/jeffrey-epsteins-billionaire-tax-avoidance-assistance-business/

The Epstein Chronicles
Off Shore And Epstein: The BVI

The Epstein Chronicles

Play Episode Listen Later Nov 20, 2021 20:05


As we continue to look at how the richest amongst us continue to find ways around the financial laws, we find ourselves in the British Virgin Islands. To contact me: bobbycapucci@protonmail.com(Commercial at 13:21)Source:https://www.icij.org/investigations/paradise-papers/british-virgin-islands-corruption-scandal-threatens-its-dependable-tax-haven-reputation/

Beyond The Horizon
Follow The Money: Off Shore Tax Havens

Beyond The Horizon

Play Episode Listen Later Nov 19, 2021 30:08


The financial angle of the Epstein case has been a key factor in our discussion for the last year and since the release of the FinCen files, that conversation has only grown.Tonight we add a little meat to the bone and talk about tax havens and how they are used by people like Epstein to avoid paying taxes and to fund illicit behavior.(Commercial at 22:36)To contact me:Bobbycapucci@protonmail.comSource:https://www.icij.org/investigations/panama-papers/what-is-a-tax-haven-offshore-finance-explained/

Offbeat Oregon History podcast
Shipwreck of Brother Jonathan is ground zero in treasure squabble

Offbeat Oregon History podcast

Play Episode Listen Later Nov 19, 2021 9:01


Sidewheel steamer's sinking was a major maritime disaster for Oregon; treasure hunters found the gold-laden wreck in 1993, touching off a big, undignified catfight with the state of California over salvage rights. (Offshore, Curry County; 1860s) (For text and pictures, see http://offbeatoregon.com/o1101b-shipwreck-of-brother-jonathan-ground-zero-in-fight-over-treasure.html)

WorldAffairs
From Moscow to Monte Carlo

WorldAffairs

Play Episode Listen Later Nov 15, 2021 59:01


The Pandora Papers, a massive data leak connecting individuals to offshore accounts and tax havens, shined a light on the shadow world where celebrities, politicians, dictators and drug traffickers hide their money. In the second installment of our three-part series on Putin's Russia, investigative journalist Luke Harding explores a trail of documents and properties linked to Vladimir Putin's inner circle, which show how “Putin and the people around him became fantastically rich, even more rich once he became president.”   Then, we go inside “Putin's Palace,” a secretive and sprawling luxury complex on the Black Sea allegedly owned by the Russian president. Images of the palace were exposed in a documentary released by Alexei Navalny's organization, the Anti-Corruption Foundation. But who is Navalny really, and what politics does he embody? For that, we turn to Jan Matti Dollbaum, Morvan Lallouet, and Ben Noble, co-authors of “Navalny: Putin's Nemesis, Russia's Future?”   Guests:   Luke Harding, author and journalist, The Guardian Jan Matti Dollbaum, postdoctoral researcher, Bremen University Morvan Lallouet, PhD candidate, University of Kent Ben Noble, associate professor, University College London   Hosts:   Ray Suarez, co-host, WorldAffairs   If you appreciate this episode and want to support the work we do, please consider making a donation to World Affairs. We cannot do this work without your help. Thank you.

JSEDirect with Simon Brown
Market in review 15 November 2021

JSEDirect with Simon Brown

Play Episode Listen Later Nov 15, 2021 51:55


Offshore / US inflation, 6.2%. Core inflation highest since 1991. / Johnson & Johnson announced plans to split its company into two, separating its consumer health division from its pharmaceutical and healthcare businesses. / Elon Musk selling Tesla shares, some planned n September. Rest thanks to the Twitter poll. / Singles day in China, muted (+8.5%) but still huge, Alibaba $84.5billion / Tencent results. Slowing in all areas. Common prosperity is visible in the results. Local / MTBPS, not much happening - as expected. / Vodacom buying Vodafone Egypt, nice deal and adds a strong growth region. / Purple Group results, really top class and much better than I expected. 737k funded accounts. / Sappi results, doing well as dissolving pulp prices boom. But energy costs hurting. / Raubex results strong with a really good pipeline and well positioned for infrastructure / Northam scopes Implats and buys 33% of RBPlats

Congressional Dish
CD242 The Offshore Drilling Police

Congressional Dish

Play Episode Listen Later Nov 15, 2021 95:22


On October 1, 2021 an oil pipeline that was likely struck by a cargo ship's anchor leaked tens of thousands of gallons of oil into the ocean and onto the beaches of Orange County, CA. In this episode, examine how the oil spill happened by listening to testimony provided to both the U.S. Congress and the California State Senate, and learn about the disturbing lack of policing that is taking place under the sea. Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! Background Sources Articles and Documents Nicole Charky. April 7, 2021. “LA City Council Urges Newsom To Close Playa Del Rey Oil Storage.” Patch. Nicole Charky. March 23, 2021. “Is It Time To Shut Down The Playa Del Rey Oil Storage Facility?” Patch. U.S. Government Accountability Office. Offshore Oil and Gas: Updated Regulations Needed to Improve Pipeline Oversight and Decommissioning. GAO-21-293. Jen's Highlighted PDF Heal the Bay. June 24, 2015 . “Confirmed: L.A. Tar Balls Linked to Santa Barbara Spill.” planetexperts.com Heal the Bay. August 20, 2012. “What Are Those Black Clumps on the Beach?” Sarah S. Elkind. June 1, 2012. “Oil in the City: The Fall and Rise of Oil Drilling in Los Angeles.” The Journal of American History, Volume 99, Issue 1. Tom Fowler. February 21, 2012. “U.S., Mexico Sign Deal on Oil Drilling in Gulf.“ The Wall Street Journal. APPEL News Staff. May 10, 2011. “Academy Case Study: The Deepwater Horizon Accident Lessons for NASA.” APPEL News, Volume 4, Issue 1. Offshore Technology. “Projects: Macondo Prospect, Gulf of Mexico.” Bureau of Ocean Energy Management. November 23, 1970. Treaty to Resolve Pending Boundary Differences and Maintain the Rio Grande and Colorado River as the International Boundary. Open Secrets Profiles Rep. Yvette Herrell - New Mexico District 02 Rep. Paul Gosar - Arizona District 04 Rep. Bruce Westerman - Arkansas District 04 Rep. Katie Porter - California District 45 Rep. Pete Stauber - Minnesota District 08 Images Playa del Ray in the 1920s 2021 Huntington Bay Oil Spill Image 1. CA State Senate: Natural Resources and Water Committee Informational Hearing Southern California Oil Spill: Preparation response, ongoing risks, and potential solutions. 2021Huntington Bay Oil Spill Image 2 CA State Senate: Natural Resources and Water Committee Informational Hearing Southern California Oil Spill: Preparation response, ongoing risks, and potential solutions. Mileage of Decommissioned Pipelines Removed Relative to Those Left in Place. GAO Analysis of Bureau of Safety and Environmental Enforcement Data, GAO-21-293. Potential Effects of Currents on Pipeline Leak Identification. GAO-21-293. Hearings Southern California Oil Spill: Preparation response, ongoing risks, and potential solutions California State Senate: Natural Resources and Water Committee Thursday, October 28, 2021 Witnesses: Chuck Bonham Head of California Department of Fishing and Wildlife Tom Cullen Administrator of OSPR (Offshore Spill Prevention and Response) Kim Carr Mayor Pro Tem, City of Huntington Beach Brian Nowicki California Climate Policy Director at the Center for Biological Diversity Pete Stauffer Environmental Director for the Surfrider Foundation Jennifer Lucchesi State Lands Commission Clips 3:44 Senator Henry Stern: But the pipeline that runs to Amplify and Beta Offshore's platform is the source of the oil production that runs through the pipeline in question. That pipeline is in federal jurisdiction but it brings that produced oil onshore into the state waters and eventually on state lands. 21:05 Chuck Bonham: What we now know is about four and a half miles offshore, so in federal waters, there's a pipeline that runs from one platform, which is a collection of three platforms operated by a company called Beta Offshore, owned by a company called Amplify Energy. That last platform, Ellie, has a pipeline which delivers the product 17.7 miles inland, where the pipe comes on shore just below the Queen Mary more or less, to land based infrastructure. That pipe had a rupture in it. And we now know based on visual and diver and other evidentiary efforts, that about 4000 feet of that pipeline was moved about 105 feet off of center. And in that stretch is about a 13 inch horizontal, almost like a hairline fracture. If you could imagine a bone break in a pipe, which is, I think, about 13 inches in diameter, concrete on the outside and metal on the inside. That's the likely source of the leak. 22:25 Chuck Bonham: From the very beginning moments, all of us involved assumed a worse case. At that moment in time we had a planning number of a spill of about 3,134 Barrels which is 131,000 gallons rounding as a maximum worst case. 30:59 Chuck Bonham: A month later we now think the likely spill number is 24,696 gallons 41:13 Chuck Bonham: Fortunately given the size of the spill, there were not as many wildlife casualties as could have occurred during a higher migration cycle. 1:25:47 Mayor Kim Carr: So starting off on Saturday, October 2, it's been brought up that yes, we did have a very large air show happening that day. About 1.5 million people were on the beach that day to see the Pacific Air Show. And around nine o'clock that morning, there were city personnel that heard an announcement on VHF channel 16 by the Coast Guard of a possible oil spill in the area, but nothing very specific. At that time, no major details, it wasn't anything to really worry about. By 10:30 in the morning, the Coast Guard had advised us that the spill was larger than originally thought. However, we didn't have a whole lot of information as to where the location of the spill was nor of the scope of the situation. By 11 o'clock that same day, the Coast Guard had announced that it was now going to be a major spill, and that the incident management team was being activated. 1:28:00 Mayor Kim Carr: At two o'clock, the Coast Guard had advised us that the oil spill would not be reaching the shores of Huntington Beach until Monday, October 4. And again, we didn't have a whole lot of information as to where the spill was. We knew it was off our coast, but we didn't know exactly where or exactly how large the spill was. But then interestingly enough, just a half hour later, we started to receive messages that there were boats that were experiencing oil damage just outside of the air show flight box. And so that became a concern for our city. So then we activated our fire crews, our hazmat team, or the oil spill response trailer and started to do the mitigation efforts. Then this is where it gets to be very, very interesting. At 2:45 the city was notified by the Newport Beach rescue vessel that there were private contractors conducting oil spill cleanups outside of the air show flight box. 1:32:42 Mayor Kim Carr: What we could have done better, what would have been an opportunity was perhaps if the Coast Guard had some sort of awareness, the night before or when that nine o'clock notification came through, we could have been even more proactive because as I said before, every hour during these crises matters. 1:34:00 Mayor Kim Carr: The Bolsa Chica Ecological Reserve was spared. The Talbert Marsh does have oil damage and again looking back, if we could have had maybe a few more hours notice, we probably could have mitigated that damage even more than what we did. 1:43:17 Brian Nowicki: Like all of you, we at the Center for Biological Diversity are heartbroken by every oil and seabird and are alarmed at the miles of marshes and coastline that will be poisoned for years by this bill. We're angry that yet again, the oil industry has proven its inability to contain its toxic pollution. The structure of pipeline funding to beach proves yet again, that every piece of fossil fuel infrastructure is yet another disaster waiting to happen. And there is a lot of that infrastructure in California. It's increasingly old, outdated in disrepair and poorly located, like the 40 year old pipeline that gave us this most recent spill, all of which makes it increasingly dangerous. Looking beyond the nine oil platforms and islands in state water, there are 23 platforms in federal waters off California. But the fact that those 23 platforms are a little farther from shore should not give us much comfort. First, because oil spills from those operations still end up in our water, our beaches and our wildlife. But also as we've heard today, further from shore also means longer stretches of aging and dangerously vulnerable infrastructure, like the 17 mile long pipeline we're discussing today are clean, reliable federal regulations to protect us from oil spills in federal waters. Federal regulators continue to prove that they are perfectly willing to allow those platforms to continue operating to the last drop of oil despite the mounting dangers of decaying infrastructure well beyond its intended lifespan, outdated drilling plans, numerous violations and insufficient bonds to pay for decommissioning. 1:45:15 Brian Nowicki: But I want to be clear that this is not a problem unique to offshore platforms. At the exact same time that 10s of thousands of gallons of oil were rolling up onto beaches and marshes in Orange County, there was an oil spill in Kern County that is now approaching 5 million gallons of fluid, a mixture of crude oil, toxic wastewater, that includes 600,000 gallons of crude. In fact, in just the last few years, there have been many oil spills in California greater than the spill off Huntington Beach. In the Cymric field alone there were three huge spills in 2019 at 550,000 gallons, 836,000 and 1.2 million gallons respectively. 159,000 in Midway in 2019, 250,000 at McKittrick in 2020. There is another ongoing spill at a separator plant in Cymric that has been leaking since 2003 and has reportedly released as much as 84 million gallons of fluid to date. Now these numbers reflect total combined volumes of crude and produced water and mud, which constitute a toxic mix. As state agencies have testified before this legislature in the past, these dangerous onshore oil operations have contaminated groundwater, land, and wildlife. 1:46:32 Brian Nowicki: After more than 150 years of the oil industry drilling at will in California, the oil is gone and the bottom of the barrel that's left is harder and more dangerous to extract. There's also some of the most carbon polluting crude in the world. With the easy stuff taken, the oil industry is in decline in California, with production down 68% since 1985. The only question is how much more damage will this dying industry do on its way out? 1:49:10 Pete Stauffer: Now with the oil deposit seen as far south as the Mexico border, there are concerns that San Diego wetlands are also being impacted. Moreover, while birds, fish and marine mammals have been the most visibly impacted, the full scale of the ecological damage will take some time to become clear. In the week since the spill event, the oil slick has transformed into an incalculable number of tar balls in the ocean, while tar balls typically float, they can also find their way into underwater sediment or near shore habitats where their impacts on ecological health and wildlife may persist for years or even decades. 1:52:51 Pete Stauffer: According to the federal government there have been at least 44 oil spills since 1969 that have each released more than 10,000 barrels of oil into US waters 2:02:36 Mayor Kim Carr: Just to give you an idea of how much TOT we do receive in Huntington Beach, we receive about $16 million a year. We don't receive anything from those offshore platforms, nothing. And as far as the drilling that we currently have here in Huntington Beach, it's less than $700,000 a year. 2:05:54 Brian Nowicki: What I can't say though, for sure is that it's going to take longer than one season to see what the full impacts are to the local wildlife. And of course, it is wetlands and marshes that often are the most difficult and take the longest to recover from the sorts of impacts. 2:21:11 Jennifer Lucchesi: In 1921, the legislature created the first tidelands oil and gas leasing program. The existing offshore leases the commission is responsible for managing today were issued over a 30 year period between 1938 and 1968. Importantly, I want to highlight a specific act in 1995. The Cunningham shell Act, which serves as a foundational law for the existing legacy oil and gas leases the commission currently manages. Importantly, this Act required the commission to issue oil and gas leases for term not based on years, but for so long as oil and gas is produced in paying quantities. Essentially, this means that Alessi can produce oil and gas pursuant to their state lease indefinitely as long as it is economic for them to do so. 2:58:13 Jennifer Lucchesi: For pipelines that are solely within state waters and under lease with the State Lands Commission, we require the pipelines to be externally and internally inspected annually. And we have engineers on staff that review those inspections and consult with the fire marshal as well with our federal partners on any type of remedial action that needs to happen based on the results of those inspections. For those pipelines that cross both federal and state waters our authority is more limited because the federal government's regulatory authority takes precedence. And PHMSA (Pipeline and Hazardous Materials Safety Administration) is the primary federal agency that regulates those interstate pipelines. They require inspections externally and internally every two years. And that's what this pipeline at issue was subjected to, the platform Elly pipeline. 03:01:20 Senator Dave Min: Let's say you have a pipe and the lease term ends. What powers do you have? What are the considerations you have to follow either statutory or contractually to renew those permits, issue a new permit? Or alternatively, do you have any leeway contractually, statutorily to end those permits prematurely and say, you know, we don't think that, you know, the upkeep is appropriate, you're violating certain provisions, we're just gonna take away your permit prematurely. Do you have any leeway like that? So I'm just trying to get a sense of your flexibility, both in issuing new right of way permits, but also yanking away existing permits. Jennifer Lucchesi: Certainly. So I can give an example of our lease compliance and enforcement actions most recently, with a pipeline that served platforms Hogan and Houchin in the Santa Barbara Channel. Those are two federal platforms in federal waters, that pipeline that served those platforms did cross into state waters and connected on shore. That pipeline lessee of ours was not compliant with our lease terms and the commission took action to terminate those leases based on non compliance and default in breach of the lease terms. And essentially, that did terminate production on those two federal platforms. And they are part of the eight federal platforms that BOEM just announced they were going to be looking at as part of a programmatic EIS for decommissioning. The Commission does not have the authority to unilaterally terminate an existing valid lease absent any evidence of a breach or non compliance SOUTHERN CA OIL LEAK: INVESTIGATING THE IMMEDIATE EFFECTS ON COMMUNITIES, BUSINESSES, AND ENVIRONMENT House Committee On Natural Resources, Subcommittee on Oversight and Investigations and the Subcommittee October 18, 2021 Witnesses: Dr. Michael H. Ziccardi Director, Oiled Wildlife Care Network Executive Director, One Health Institute, School of Veterinary Medicine, UC Davis Scott Breneman Commercial Fishing, Retail Market, and Restaurant Owner Newport Beach, CA Vipe Desai Founding Member, Business Alliance for Protecting the Pacific Coast Dr. David L. Valentine Norris Presidential Chair, Earth Science Professor of Marine Science, UC Santa Barbara Clips 15:44 Rep. Katie Porter: As of October 10, workers had recovered 250,000 pounds of oily debris and 14 barrels full of tar balls from the Orange County shorelines. That is a small fraction, though, of the oil that was released, most of which is being distributed in the ocean, making its way into the food chain or falling to the ocean floor. Some of that oil is now heading south. And we will not learn the long term consequences on the environment for many years to come. 17:39 Rep. Katie Porter: The witnesses here with us today will reveal a different kind of subsidy for oil and gas companies, an involuntary subsidy that occurs when the community bears the costs of oil drilling's pollution. When a locally owned business like Mr Brennaman that has been in the family for four generations loses tens of thousands of dollars because of the leak. That's his subsidies to oil and gas. When a hotel loses its bookings overnight. That's its subsidy for oil and gas. When the fragile decades-long effort to recover a species under the Endangered Species Act is finally showing progress, but an oil spill puts it all at risk. That's a cost of oil and gas to these subsidies and so many others are the reasons that oil wells like the ones behind this leak are still active. Getting rid of the subsidies is the first step to get rid of the problem. 27:52 Rep. Mike Levin (D-CA): We know that the spill was not reported by the responsible oil company until the next day, despite the company's knowledge. We also know that Orange County residents recognize that there was a problem in part due to the smell caused by this bill and actually reported it before the oil company did so, clearly something wrong with that. 28:35 Rep. Mike Levin (D-CA): In my congressional district, which is just the south of here, the spill shutdown businesses and beaches in Dana Point in San Clemente. Tarballs that are likely caused by the spill have also been found as far south in my district as Oceanside, Carlsbad, Encinitas and Del Mar in San Diego County. 29:03 Rep. Mike Levin (D-CA): It'll come as no surprise that more than $2 billion in wages and $4 billion in gross domestic product are generated by Orange County's ocean and marine economy, including tourism. So we have a lot to lose every time there's a spill, not just to our beaches but to our economy. 39:30 Dr. Michael H. Ziccardi: In Birds, the primary issue we are concerned mostly about are the acute effects due to hypothermia. If you think of feathers almost as a dry suit in animals, if oil gets on that dry suit, it creates a hole that allows cold water to seep next to the skin. Birds can get very cold in the environment and start to waste away, they have to come ashore to stay warm, but they can no longer eat. So these birds actually can waste away in a matter of days unless proactive capture occurs. There can also be chronic effects in animals as well due to printing of oil off of the feathers or ingestion in their food items. Those chronic effects can include, in essence, effects on every organ system in an animal's body from reproductive effects liver, kidney, respiratory tracts, depending on the dose and the exposure and the toxin itself. 42:50 Scott Breneman: We were fishing on Friday, October 1, and we were coming in the harbor and I detected a distinct odor of oil and it was about midnight we're heading in. Kind of search around the boat. I thought maybe it was a spill on the boat or a hose broke. I went in the engine room, searched all the hatches where I keep all my extra fluids and everything, didn't find anything. Come the next day the press released that there was an actual oil spill, and my fish sales and my fish market, once that was released, they dropped drastically down, 90% this past few weeks since it was released. I've seen the same effect -- my family's been fishing for four generations and in the 90s my dad went through the oil spill that was off Seal Beach, in our fish market, the same exact response from the public scared, worried the products contaminated. A huge ripple effect all the way up to the wholesalers I deal with outside of Orange County there. They had concerns from their customers, their restaurants. And to rebuild that business when it happened in the 90s, I watched my dad struggle for months to get back to back to where it was and it's...I'm seeing the same exact thing happen here. A couple of days after the oil spill they had closed Newport Harbor. And so my boat was actually trapped inside of the harbor so I wasn't even able to go service my accounts. And it's just been, to tell you the truth, a very difficult couple of weeks and I'm not sure how long this is going to last. I'm not sure how the public's going to respond to it long term if there's still going to have some fear that the fish is contaminated. 46:20 Vipe Desai: In fact between 2007 and 2018 there were over 7000 oil spills in federal waters, an average of about two every day. 46:50 Vipe Desai: The first impact came from the much anticipated Pacific Air Show. As oil began to wash ashore, beaches were deemed unsafe for activity. On Saturday October 2nd, 1.5 million visitors saw the show from Huntington Beach, but the show's triumphant conclusion on Sunday was cancelled with little fanfare. Cancellations hit hotels and resorts almost immediately and their surrounding retail and restaurants suffered. Wing Lam, co-founder of Wahoo's Fish tacos, informed me that the Saturday before the oil spill felt like a busy summer day. But the following day, once word got out about the spill, it was a ghost town. In addition, as the spill moved south, their locations in Laguna Beach and San Clemente started to feel the impacts. Bobby Abdel, owner of Jack's Surfboards, had a similarly bleak weekend. He told me that once the oil spill was announced customer traffic plummeted. Their stores are facing a stockpile of unsold inventory from the US Open of Surfing and the Pacific Air Show. All nine of Jack's Surfboards locations were impacted in some form or another because of the spill. Later in the week, I received a call from a colleague, Wendy Marshall, a full time hard working mother of two who shared with me that her upcoming Airbnb reservations, a form of income to help her offset college tuition costs for her children, had mostly been cancelled. From Dana Point though dolphin and whale capital of the world and the first whale Heritage Site in the Americas. Giselle Anderson from local business Captain Dave's Dolphin and Whale Watching Safari shared losses from trips and bookings into November could be down as much as 74% because of the oil spill. 52:15 Dr. David L. Valentine: I want to invoke my privilege as a university professor to start with a little bit of a history lesson. Many people think that the largest spill in US history occurred in the Gulf of Mexico in 2010. This is not correct. The largest spill in US history occurred in California. It was not the October 2021 spill that we're here to talk about today. Nor was it the 2015 refugio beach pipeline rupture on the gaviota coast. It was not the 2007 Cosco, Busan spill and San Francisco Bay. And it was not the 1997 platform Irene pipeline rupture of Annenberg Air Force Base. It was not the 1990 American traders spill off the coast of Huntington Beach. It was not the 1969 platform, an oil spill off of Santa Barbara, the one that helped spawn the environmental movement. Nor was it the sinking of the SS Montebello, an oil freighter that was hit by a Japanese torpedo off the coast of Cambria and World War Two. It was called the Lakeview Gusher. It occurred in Kern County, and it's estimated to have released around 380 million gallons of oil over an 18 month period starting in 1910. And I tell you this bit of California history because it punctuates five important points. First, oil production carries inherent risk. Second, California has suffered more than its fair share of spills. Third, the size of a spill is only one factor in determining its impact. Fourth, responsiveness and context matter. And fifth, every spill is different and that includes the impacts. 54:24 Dr. David L. Valentine: For the current spill, I have honed in on three key modes of exposure that concern me most: floating oil slicks that can impact organisms living at or near the sea surface, coastline areas such as wetlands where oil can accumulate and persist, and the sea floor, where oil can easily hide from view but may still pose longer term risks. Among these three, the fate of impacts of submerged oil is especially relevant to California, is the least well understood, and requires additional research effort. 59:40 Rep. Katie Porter (D-CA): So recently I asked the Department of Interior about the specific kinds of subsidies that Beta Operating received. Beta is a subsidiary of Amplify Energy, and that's the company that owns the platforms and the pipelines that leaked off our coast. It turns out that they got nearly $20 million from the federal government, specifically because the oil wells are at the end of their lives and are not producing much oil, which makes them less profitable. So taxpayers are being asked to pay to encourage oil production in the Pacific Ocean by giving oil companies millions of dollars to do it. 1:00:39 Rep. Katie Porter (D-CA): Beta operating is in line to get another $11 million to drill for new wells off the coast because that $11 million is needed, in their words, “to make production economic.” So taxpayers are being asked to pay Beta to drill new wells. That means wells that would otherwise not be drilled without our taxpayer subsidy. 01:02:52 Dr. Michael H. Ziccardi: What we have found, during and after the Deepwater Horizon oil spill, is that dolphins can be significantly impacted by oil, primarily through inhalation of the fumes at the surface and ingestion of the oil substances themselves. What we found is that it affects their immune system, it affects their reproductive tract, and it affects their gastrointestinal tract, so very significant changes. And that's information that is just now starting to come out in the publications from the Deepwater Horizon incident. 1:06:51 Vipe Desai: Had this oil spill moved north, it would have impacted two of the busiest ports in the nation, which account for billions of dollars of goods flowing in and out of both ports of LA and Long Beach. And that would have had an even larger impact to other communities across the US. 1:08:21 Rep. Mike Levin (D-CA): The annual oil production off the coast of California is about 1/3 of what our nation produces in a single day. So it really is a drop in the bucket when you consider the overwhelming potential for economic damage for environmental damage, the risks simply aren't worth it. 1:09:34 Vipe Desai: California's ocean economy generates $54.3 billion in revenue and supports 654,000 jobs. 1:25:15 Dr. David L. Valentine: In Orange County, the areas that I would look at most closely as being especially vulnerable on the environmental side would be the wetland environments. Places like Talbert Marsh where oil can surge in with the tide. And it can get trapped in those environments and it can get stuck and it won't come back out when the tide recedes. Those are especially vulnerable because they're these rich, diverse ecosystems. They provide a whole host of different services, whether it's flyways, or fisheries, or in keeping the nutrient levels moderated in coastal waters. And that oil can stick there and it can have a long term impact. And furthermore, cleanup in those cases can be very difficult because getting into a marsh and trying to clean it up manually can cause as much damage as oil can cause. 1:26:24 Dr. David L. Valentine: And then the other environment that I worry a lot about is the environment we can't see, that is what's going on under the surface of the ocean. And in that case, we can have oil that comes ashore and then gets pulled back offshore but is now denser because it's accumulated sand and other mineral matter. And that can be sticking around in the coastal ocean. We don't really understand how much of that there is or exactly where it goes. And that concerns me. 1:29:18 Rep. Mike Levin (D-CA): But Dr. Valentine, how concerned Do you think California should be that companies that own the offshore platforms, wells and pipelines might go bankrupt and pass decommissioning costs on to taxpayers? Dr. David L. Valentine: I think that we need to be very concerned. And this is not just a hypothetical, this is already happening. There are two instances that I can tell you about that I've been involved with personally. The first stems from the pipeline 901 rupture, also known as the Refugio, a big oil spill that happened in 2015. When that pipeline ruptured, it prevented oil from being further produced from platform Holley, off the coast of Santa Barbara just a few miles from my home. That platform when it was completely shut in, all 30 wells, was unable to produce any oil and the company, a small operator, went bankrupt. And then shortly thereafter, they went bankrupt again. And this time, they just gave up and they did something called quit claiming their lease back to the state of California. Meaning that the plugin abandonment and property commissioning fell into the lap of the State of California in that case, and that is an ongoing, ongoing saga. The second example I would give you is in Summerland. In 1896, the first offshore oil wells in this country were drilled from piers in Summerland. Those have been leaking over the years. And as recently as last year, there were three leaky oil wells coming up in Summerland. The state of California has found money to try alternative plug in abandonment strategies because anything traditional is not going to work on something that is 125 some odd years old. So that would be the second example where this is now falling into the taxpayers lap yet again. IMPACTS OF ABANDONED OFFSHORE OIL AND GAS INFRASTRUCTURE AND THE NEED FOR STRONGER FEDERAL OVERSIGHT House Committee on Natural Resources: Subcommittee on Energy and Mineral Resources. October 14, 2021 Witnesses: Dr. Donald Boesch Professor and President Emeritus, University of Maryland Center for Environmental Science Dr. Greg Stunz Endowed Chair for Fisheries and Ocean Health, and Professor of Marine Biology Harte Research Institute for Gulf of Mexico Studies Texas A&M University Robert Schuwerk Executive Director, North America Office Carbon Tracker Initiative Ms. Jacqueline Savitz Chief Policy Officer, Oceana Clips 10:34 Rep. Pete Stauber (R-MN): I can certainly provide a summary of things that will help keep energy prices down: issue onshore and offshore lease sales; reinstate the Presidential permit for the Keystone XL Pipeline; renew our commitment to exporting American energy, instead of importing foreign energy; reform a broken permitting process; and stop burdening domestic producers. 16:08 Dr. Donald Boesch: Oil and gas production from wells in less than 1000 feet of water declined as fuels discovered in the 80s and even earlier were depleted. Crude oil production in these relatively shallow waters declined by over 90% both in the Gulf and and in Southern California. Natural gas production in the OCS, which mainly came from the shallow water wells, declined by 80%. Offshore fossil energy production is now dominated in the deep water off the Gulf of Mexico, up to 7500 feet deep. Deepwater production grew by 38% just over the last 10 years since the Deepwater Horizon disaster. 17:05 Dr. Donald Boesch: Since the lifting of the crude oil export ban in 2016, last year there was 78% more crude oil exported from Gulf terminals, exported overseas, than actually produced in the US OCS and three times as much natural gas exported, than produced offshore. 18:06 Dr. Donald Boesch: So, the depletion of shallow water gas has left this legacy of old wells and declining resources and the infrastructure requires decommissioning and removal. Much of this infrastructure is not operated by the original leaseholders, but by smaller companies with lesser assets and technical and operational capacity. 18:40 Dr. Donald Boesch: Off Southern California there are 23 platforms in federal waters, eight of which are soon facing decommissioning. In the Gulf, on the other hand, there are 18,162 platforms and about 1000 of them will probably be decommissioned within this decade. 19:46 Dr. Donald Boesch: According to the GAO, as you pointed out, there are 600 miles of active pipelines in federal waters of the Gulf, and 18,000 miles of abandoned plant pipelines. The GAO found the Department of the Interior lacks a robust process for addressing the environmental and safety risk and ensuring clean up and burial standards are met. And also monitoring the long term fate of these, these pipelines. 20:54 Dr. Donald Boesch: At recent rates of production of oil and gas, the Gulf's crude oil oil reserves will be exhausted in only six or seven years. That is the proven reserves. Even with the undiscovered and economically recoverable oil that BOEM (Bureau of Ocean Energy Management) estimates in the central and western Gulf, we would run out of oil about mid century. So unless some miracle allows us to capture all of the greenhouse gases that would be released, we really can't do that and achieve net zero emissions, whether it be by resource depletion, governmental or corporate policy, or investor and stockholder decisions. Offshore oil and gas production is likely to see it see a steep decline. So the greenhouse gas emissions pathway that we follow and how we deal with the legacy and remaining infrastructure will both play out over the next decade or two. 25:16 Dr. Greg Stuntz: In fact, these decades old structures hold tremendous amounts of fish biomass and our major economic drivers. A central question is, how do these structures perform in relation to mother nature or natural habitat and I'm pleased to report that in every parameter we use to measure that success. These artificial reefs produce at least as well are often better than the natural habitat. We observe higher densities of fish, faster growth and even similar output. Thus, by all measures, these data show artificial reefs are functioning at least equivalent on a per capita basis to enhance our marine resources. 28:54 Rob Schuwerk: When a company installs a platform and drills well, it creates an ARO, an obligation to reclaim that infrastructure when production ends. This costs money. But companies aren't required to get financial assurance for the full estimated costs today. Money to plug in active wells today comes from cash flows from oil and gas production. But what happens when that stops? The International Energy Agency sees peak oil and gas demand as early as 2025. This will make it harder to pay for decommissioning from future cash flows. Decommissioning is costly. The Bureau of Safety and Environmental Enforcement (BSEE) data indicate that offshore AROs could range from $35 to over $50 billion while financial assurance requirements are about $3.47 billion. That is less than 10% of expected liability. The GAO believes these figures may actually underestimate the true costs of retiring the remaining deepwater infrastructure. 30:05 Rob Schuwerk: Only about a third of the unplug wells in the Gulf of Mexico have shown any production in the last 12 months. Why haven't the other two thirds already been retired? Because of uncertainty as to when to close and poor incentives. Infrastructure should be decommissioned when it's no longer useful. But the regulator has difficulty making that determination. This uncertainty explains why BSEE waits five years after a well becomes inactive to deem it no longer useful for operations with years more allowed for decommissioning. These delays increase the risk that operators will become unable to pay or simply disappear. We've seen this already with a variety of companies including Amplify Energy's predecessor Beta Dinoco off California and Fieldwood recently with Mexico. 30:55 Rob Schuwerk: There's also a problem of misaligned economic incentives. As it is virtually costless to keep wells unplugged, companies have no incentive to timely plug them. AROs are like an unsecured, interest free balloon loan from the government with no date of maturity. There's little incentive to save for repayment because operators bear no carrying cost and no risk in the case of default. If the ARO loan carried interest payments commensurate with the underlying non performance risk, producers would be incentivized to decommission non economic assets. The solution is simple, require financial assurance equivalent to the full cost of carrying out all decommissioning obligations. This could take the form of a surety bond, a sinking fund or some other form of restricted cash equivalent. If wells are still economic to operate, considering the carrying cost of financial assurance, the operator will continue production, if not they'll plug. In either case, the public is protected from these costs. 32:11 Rob Schuwerk: A key risk here is operator bankruptcy that causes liabilities to be passed on to others. And we could see this in the recent Fieldwood bankruptcy. Fieldwood was formed in 2012 and in 2013 acquired shallow water properties from Apache Corporation. It went through chapter 11 bankruptcy in 2018, and then undeterred, acquired additional deepwater platforms from Noble Energy. Fieldwood returned to bankruptcy in 2020. It characterized the decommissioning costs it shared with Apache as among the company's most significant liabilities. The bankruptcy plan created new companies to receive and decommission certain idle offshore assets. If they failed, prior operators and lessors would have to pay. Several large oil and gas companies objected to this proposal. They were concerned that if Fieldwood couldn't pay they would. Ultimately the plan was proved. The case illustrates a few key dynamics. First, if bankrupt companies cannot pay, others, including taxpayers, will. How much of the possibly $50 billion in offshore decommissioning liability is held by companies that are only a dragged anchor, a hurricane a leaking pipeline or oil price shock away from default? And second, as detailed in my written testimony, private companies who face liability risks understand them better than the government does. When they transfer wells, they demand financial protections that are in fact greater than what the government requires today. 36:02 Jacqueline Savitz: Supplemental bonds are necessary to protect taxpayers from the risk of spills but BOEM is overusing the waiver provisions that allow a financial strength test to waive requirements for supplemental bonds. BOEM regulations require that lessees furnish a relatively small general bond and while BOEM has discretion to acquire supplemental bonds, it generally waives those. General bonds that lessees are required to furnish don't come close to covering the cost of decommissioning and haven't been updated since 1993. Since that year, the cost of decommissioning has gone up in part because development has moved into deeper waters, only about 10% of offshore oil production in the Gulf was in deepwater in 1993. But by 2014, that figure rose to 80%. Regulations need to be updated to ensure the federal government and taxpayers are not left picking up the tab on decommissioning. According to GAO, only 8% of decommissioning liabilities in the Gulf of Mexico were covered by bonds or other financial assurance mechanisms, with the other 92% waived or simply unaccounted for. 38:06 Jacqueline Savitz: BSEE does not conduct oversight over decommissioning activities underway and it does not inspect decommissioned pipelines so the Bureau can't ensure that the industry has complied with required environmental mitigation. 38:17 Jacqueline Savitz: Leak detection technologies that the oil and gas industry touts as safer have not been proven to prevent major leaks. All pipelines in the Pacific region are reportedly equipped with advanced leak detection equipment. Though two weeks ago we saw exactly what can happen even with the so-called “Best Technology.” 42:00 Dr. Donald Boesch: In Hurricane Ida, all of a sudden appeared an oil slick, and it lasted for several days. And apparently it was traced to an abandoned pipeline that had not been fully cleared of all the residual oil in it so that all that oil leaked out during that incident. 47:59 Dr. Donald Boesch: One of the challenges though, is that this older infrastructure is not operating in the same standards and with the same capacity of those of the major oil companies that have to do that. So for example, when I noted that they detected this methane being leaked, they didn't detect it from the new offshore deepwater platforms which have all the right technology. It's in the older infrastructure that they're seeing. 54:14 Rob Schuwerk: There's actually one thing that exists offshore, joint and several liability, that only exists in certain jurisdictions onshore. So in some ways the situation onshore is worse. Because in some states like California you can go after prior operators if the current operator cannot pay, but in many jurisdictions you cannot. And our research has found that there is about $280 billion in onshore liability, and somewhere around 1% of that is covered by financial assurance bonds so, there is definitely an issue onshore rather than offshore. 55:04 Rob Schuwerk: The issue is just really giving them a financial incentive to be able to decommission. And that means they have to confront the cost of decommissioning and internalize that into their decision on whether continuing to produce from a well is economic or not. And so that means they need to have some kind of financial insurance in place that represents the actual cost. That could be a surety bond where they go to an insurer that acts as a guarantor for that amount. It could be a sinking fund, like we have in the context of nuclear where they go start putting money aside at the beginning, and it grows over time to be sufficient to plug the well at the end of its useful life. And there could be other forms of restricted cash that they maintain on the balance sheet for the benefit of these liabilities. 1:15:38 Jacqueline Savitz: Remember, there is no shortage of offshore oil and gas opportunity for the oil industry. The oil industry is sitting on so many, nearly 8.5 million acres of unused or non producing leases, 75% of the total lease acreage in public waters. They're sitting on it and not using it. So even if we ended all new leasing, it would not end offshore production. 1:22:35 Rob Schuwerk: Typically what we'll see as well to do companies will transfer these assets into other entities that have less financial means and wherewithal to actually conduct the cleanup. Rep. Katie Porter: So they're moving once they've taken the money, they've made the profit, then they're giving away they're basically transferring away the unprofitable, difficult, expensive part of this, which is the decommissioning portion. And they're transferring that. Are they transferring that to big healthy companies? Rob Schuwerk: No, often they're transferring it to companies that didn't exist even just prior to the transfer. Rep. Katie Porter: You mean a shell company? Rob Schuwerk: Yes. Rep. Katie Porter: Like an entity created just for the purpose of pushing off the cost of doing business so that you don't have to pay it even though you've got all the upside. Are you saying that this is what oil and gas companies do? Rob Schuwerk: We've seen this, yes. Rep. Katie Porter: And how does the law facilitate this? Rob Schuwerk: Well, I suppose on a couple of levels. On the one hand, there's very little oversight of the transfer. And so there's very little restriction from a regulatory standpoint, this is true, offshore and also onshore. So we see this behavior in both places. And then secondary to that there are actions that companies can take in bankruptcy that can effectively pass these liabilities on to taxpayers eventually and so some of it is to be able to use that event, the new company goes bankrupt. 1:25:01 Rob Schuwerk: Certainly no private actor would do what the federal government does, which is not have a security for these risks. MISUSE OF TAXPAYER DOLLARS AND CORPORATE WELFARE IN THE OIL AND GAS INDUSTRY House Committee on Natural Resources: Subcommittee on Oversight and Investigations May 19, 2021 Witnesses: Laura Zachary Co-Director, Apogee Economics & Policy Tim Stretton Policy Analyst, Project on Government Oversight (POGO) Clips 27:10 Laura Zachary: There have long been calls for fiscal reforms to the federal oil and gas program. Compared to how states managed oil and gas leasing, the federal government forgoes at least a third of the revenue that could have been captured for taxpayers 27:25 Laura Zachary: On January 27 of this year, the Biden administration signed Executive Order 14008 that pauses issuing new federal oil and gas leases. And importantly, the language implies a temporary pause, only on issuing new leases, not on issuing drilling permits. This is a critical distinction for what the impacts of a pause could be. Very importantly, federal permitting data confirms that to date, there has been no pause on issuing drilling permits for both onshore and offshore. And in fact, since the pause began, Department of Interior has approved drilling permits at rates in line with past administrations. 37:08 Tim Stretton: Because taxpayers own resources such as oil and gas that are extracted from public lands, the government is legally required to collect royalties for the resources produced from leases on these lands. Project on Government Oversight's investigations into the federal government's oversight of the oil, gas and mining industries have uncovered widespread corruption that allows industry to cheat U.S. taxpayers out of billions of dollars worth of potential income. Given the amount of money at stake and the oil and gas industry's history of deliberately concealing the value of the resources they've extracted with the intent of underpaying royalties, the government should be particularly vigilant in ensuring companies pay their fair share for the resources they extract. 46:28 Rep. Bruce Westerman (R-AR): We are here today for the majority's attempt, which I believe is more of a publicity stunt to criticize the oil and gas industry than to talk about real facts and data. The playbook is a simple one: recycled talking points to vilify the industry and to paint a distorted picture of so-called good versus evil. I'm sure that we'll hear more about corporate subsidies that aren't. We'll hear about unfair royalty rates that aren't and we'll hear many other meme worthy talking points that fail the logic test. 47:35_ Rep. Bruce Westerman (R-AR): What we're -really talking about today is an industry that provides reliable and affordable energy to our nation. This isan industry that contributes to almost 10 million jobs and plays a vital role in our daily lives. In fact, we cannot conduct virtual hearings like this without the fossil fuel industry. And of course, when myself and my colleagues travel to Washington, DC, we rely on this industry to fly or to drive here. 49:33 Rep. Bruce Westerman (R-AR): But they ignore the real world consequences of demonizing this industry. The results are devastating job loss and the loss of public education funding to name just a few. 54:05 Rep. Pete Stauber (R-MN): I also had a roundtable discussion and learned how New Mexico schools received nearly $1.4 billion in funding from oil and gas just last year. 55:08 Rep. Katie Porter (D-CA): Mr. Stretton, how long has your organization been conducting oversight of oil and gas production on federal lands? Tim Stretton: For decades, I mean, we started doing this work in the early 90s. And actually, some of our earliest work in the space was uncovering in excess of a billion dollars in unpaid royalties to your home state of California. Rep. Katie Porter (D-CA): And you mentioned, what are some of the patterns? You've been doing this for decades? What are some of the patterns that you observe over time? Tim Stretton: The oil and gas industry working with each other to really undervalue the resources they were selling, fraudulently telling the government the value of those resources, which left billions of dollars in unpaid revenue going to the federal government. 1:01:09 Rep. Paul Gosar (R-AZ): There are some people who have made environmentalism a religion. Rather than focus on solutions that can make lives better for people, some would prefer to vilify an industry that provides immeasurable benefits to people's livelihood in the function of modern day society. 1:04:21 Rep. Paul Gosar (R-AZ): The other side looks at globalism, you know this environmental movement globally. So it makes more sense to me at least and folks I come from that we produce it cleaner more efficiently than anybody else in the world. And so that geopolitical application, if you're an environmentalist, you would want more American clean oil and gas out there versus Russian dirty or Chinese dirty gas. 02:37:23 Rep. Blake Moore (R-UT): In January state education superintendents in Wyoming, Miami, North Dakota, Alaska, and Utah submitted a letter to President Biden outlining their concerns with the administration's oil and gas ban which has reduced funding used to educate our rising generation. 02:43:35 Rep. Yvette Herrell (R-NM): I'm glad to be able to highlight the true success story of the oil and gas industry in my home state of New Mexico. To put it simply, the oil and gas industry is the economic backbone of New Mexico and has been for decades. The industry employs 134,000 People statewide and provides over a billion dollars each year to fund our public education. 02:44:30 Rep. Yvette Herrell (R-NM): Many of my Democratic colleagues have stated that green energy jobs can replace the loss of traditional energy jobs, like the 134,000 Oil and Gas jobs in my state. Many also say that we need to be transitioning to a completely carbon free energy grid. Can you tell me and the committee why both of those ideas are completely fantasy? Cover Art Design by Only Child Imaginations Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

los angeles japanese russian bay university long beach chinese california american project mexico natural surfing north world war ii state utah congress money nasa energy california department professor pacific dc meaning democratic alaska federal washington presidential gulf oil act birds places gas school southern california san francisco bay new mexico carlsbad fish deepwater horizon police journal beach businesses miami wyoming donations interior airbnb safety americas san diego fishing us open patch american history currents cambria eis orange county commission crude wall street journal north dakota apache amplify joe biden investigations beta holley bureau tom fowler hogan importantly heal cunningham coast guard santa barbara dolphin midway hwy barrels san clemente infrastructure tot protecting maintain san diego county california state senate summerland deep water rio grande emeritus music alley treaty sarahs oceanside regulations marine science busan alessi offshore refugio aro surfboards fisheries subcommittee michael h encinitas colorado river huntington beach newport beach laguna beach pacific ocean queen mary david l maryland center vhf wahoo aros santa barbara channel captain dave del mar seal beach cosco keystone pipeline ocean health executive orders ocs gao oversight veterinary medicine decommissioning elkind cancellations mileage offshore oil bsee dana point endangered species act oil drilling wing lam congressional dish international energy agency mineral resources boem ocean energy management offshore drilling government accountability office kern county business alliance newport harbor noble energy government oversight cover art design biological diversity heritage site best technology david ippolito crestview
Bar Karate - The Sailing Podcast
Bar Karate - the Sailing Podcast Ep134 Sunrise the hottest offshore racer in IRC right now.

Bar Karate - The Sailing Podcast

Play Episode Listen Later Nov 14, 2021 110:45


Published 14 November 2021Sunrise, the JPK 1180 that won the Fastnet, the RORC point score and the Middle Sea Race until the race finish was changed is so hot right now.We chat to the owner and the navigator Tom Kneen and Tom Cheney. We talk about their program and the Middle Sea controversy.#barkarate #sailingpodcast #barkaratesailorslarger #barkarateconversations   #worldsailingofficial #jpk1180 #rorcracing #rolexfastnetracecherbourg #officialmiddlesearace  #tom.cheney #tomkneen #ethicalpower

Under The Sheets with the O'Kelly's
Offshore preps go wrong - double check this well in advance

Under The Sheets with the O'Kelly's

Play Episode Listen Later Nov 11, 2021 33:25


We're talking about our Iridium Go Satellite Communications this week along with some trends our clients are seeing in the new boat buying world. What boat would we buy if we were in the market? Save 20% on O'Kelly Style Coffee by entering the code "sheets" www.okellystyle.com

Shirley Robertson's Sailing Podcast
Series 3 - Ep11 - Dee Caffari Part 1

Shirley Robertson's Sailing Podcast

Play Episode Listen Later Nov 9, 2021 62:07


In this month's edition of the podcast, Shirley Robertson sits down face to face with one of offshore sailing's most accomplished sailors, as she talks to British offshore trail blazer, Dee Caffari.Caffari's achievements are well documented, she holds multiple 'firsts', she's sailed around the planet six times, completed two Volvo Ocean Races, spent months alone at sea sailing 'the wrong way around' and finished a Vendee Globe in it's most attritional edition ever.  And she's achieved all of that after a sudden and unexpected career change in her mid twenties...:"I don't fit the mould, I think that's what confuses everybody, and they can't pigeon hole me, they can't put me into a box so I always feel on the outside a little bit.  I grew up dancing, I didn't grow up sailing!"From the outset Robertson and Caffari's discussion is frank and honest.  Dee reveals the catalysts that saw her turn away from a successful and established career to take a chance on making it in the world of sailing.  Her story is inspiring, and before long she was skippering a yacht of amateurs in the 2004 Global Challenge race.That successful endeavour kick started an unparalleled career that first saw her become the first woman ever to sail around the world solo non-stop against the prevailing winds and currents.  From there a Vendee Globe campaign onboard "Aviva" lead to a sixth place finish in an edition of the gruelling race that saw just eleven boats complete the course."In 2008 there were thirty entires, and only eleven finished, completed the race.  In the war of attrition, which the Vendee is known for, the odds are pretty much always against you.  But for me the big thing was to stand in the skippers' line up!  I hadn't grown up in that environment and I'd literally just exchanged my 42 ton steel tank for an 8 ton carbon fibre race machine!"Episode One of this two part podcast finishes as Dee Caffari sails across the start line of the 24 000 mile Vendee Globe.  Her journey non stop solo around the world is then picked up as the duo continue their chat in Part 2.Support the show (https://www.buymeacoffee.com/sailingpodcast)

Shirley Robertson's Sailing Podcast
Series 3 - Ep11 - Dee Caffari Part 2

Shirley Robertson's Sailing Podcast

Play Episode Listen Later Nov 9, 2021 42:48


In this month's edition of the podcast, Shirley Robertson sits down face to face with one of offshore sailing's most accomplished sailors, as she talks to British offshore trail blazer, Dee Caffari.In Part One of the podcast, Robertson talks about her journey into sailing and her decision to leave an established job in search of adventure.  In this edition of the podcast, now well in to her sailing career Caffari continues her account of her non stop solo around the planet adventure sailing the distinctive yellow "Aviva" around the planet in the Vendee Globe.Post Vendee the pair discuss Caffari's thoughts on what was her third circumnavigation and touch on her next adventure, the Barcelona World Race, before discussing Caffari's experiences in the Volvo Ocean Race.It is undeniable that both Robertson and Caffari have forged incredibly successful sailing careers, in a world that is, also undeniably, male-centric.  Talk therefore inevitably turns towards this aspect of the sport, as Caffari offers some enlightening insights into her first Volvo Ocean Race campaign with all-women campaign Team SCA. The pair share the opinion that it's a great shame it needs to be discussed, but that there are clearly very limited opportunities for women in the professional world of sailing.Staying with the Volvo Ocean, Caffari then discusses the 2017-18 edition that saw her skipper a young crew onboard "Turn the Tide on Plastic" before the pair finally reflect on the extraordinary nature of Caffari's career  and the landmarks she has achieved.This edition of the podcast is in two parts and is available to listen to via the podcast page of Shirley's own website, at www.shirleyrobertson.com/podcast or via most popular podcast outlets, including Apple Podcasts, Spotify, Google Podcast and aCast. The podcast is produced and written by Tim Butt - for further enquires, please contact podcast@shirleyrobertson.com. Support the show (https://www.buymeacoffee.com/sailingpodcast)

The Epstein Chronicles
Let's Talk Off Shore Tax Havens

The Epstein Chronicles

Play Episode Listen Later Nov 8, 2021 36:10


The financial angle of the Epstein case has been a key factor in our discussion for the last year and since the release of the FinCen files, that conversation has only grown.Tonight we add a little meat to the bone and talk about tax havens and how they are used by people like Epstein to avoid paying taxes and to fund illicit behavior.To contact me:Bobbycapucci@protonmail.comSource:https://www.icij.org/investigations/panama-papers/what-is-a-tax-haven-offshore-finance-explained/

Rod and Reel Radio
Rod and Reel Radio 11/07/21

Rod and Reel Radio

Play Episode Listen Later Nov 8, 2021 110:04


The folks from Sea Adventure Sportfishing joined us. They were excited to let us know they were still fishing bluefin Bill Siemantel reported on last weeks Bass Cat Boats' BBZ Junior Championship. Bill also knew our good friend Aaron Martens and we reflect on our recollections of this legend in the bass fishing world. Lady commercial fisherman Michelle Bancewicz Cicale shared her story with us how she became a commercial fisherman and the incredible details behind her solo effort to land a gigantic blue fin tuna.

JSEDirect with Simon Brown
Market in review 08 November 2021

JSEDirect with Simon Brown

Play Episode Listen Later Nov 8, 2021 44:32


Offshore / US tapering begins / Strong US jobs data / US passes $1trillion infrastructure bill / Bank of England leaves rates unchanged / Strong Pfizer results / Elon Musk asks Twitter if he should sell 10% of his Tesla shares, and pay tax Local / Mini budget this week / Renergen reserves / Dis-Chem results / MTN update / Purple Group update / Petrol increase

Beach Talk Radio
Ep. #189 - Paula Smith, Kathy Delbalzo, Kelly Smith, Nighbird and a Roar Offshore Check Presentation

Beach Talk Radio

Play Episode Listen Later Nov 7, 2021 78:28


Paula Smith and Kathy DelBalzo discuss the Salvation Angel Tree at the library. Kelly Smith updates us on the gift card giveaway from the Community Foundation. The Roar Offshore leadership presents a $13,000 check to the Lions Club and Nightbird jams out three songs, including one Tom Petty hit, leading up to their performance at the kickoff of the FMB Friends of The Arts concert series.

Earth Wise
Vineyard Wind Prepares For Construction | Earth Wise

Earth Wise

Play Episode Listen Later Nov 5, 2021 2:00


Vineyard Wind 1 will be the first utility-scale offshore wind energy project in the United States.  It will be located 15 miles off the coast of Massachusetts and will consist of an array of 62 wind turbines, spaced one nautical mile apart.  It will generate 800 megawatts of electricity, enough to power over 400,000 homes. […]

Florida Sportsman Action Spotter Podcast
Episode 116: Open Table Mahi Regulation Discussion: Do We Need New Regs? | Action Spotter Podcast

Florida Sportsman Action Spotter Podcast

Play Episode Listen Later Nov 4, 2021 20:14


In this special episode of the Florida Sportsman Action Spotter Podcast, we get the experts together and tackle the topic of mahi regulations. Do you think mahi need tighter regs? Sign the Save the Mahi Petition here: https://www.floridasportsman.com/editorial/new-dolphin-regs-petition/452262 Do you have a question about fishing in your area? Email rick@floridasportsman.com and we'll answer your questions on the air! Download for the best tips of the trade right in your pocket, any time, anywhere. Subscribe to get notified when a new episode drops each week. Follow us on social media for daily fishing reports, we may even share yours!

Un air d'amérique
Le Royaume-Uni, leader mondial de l'éolien offshore

Un air d'amérique

Play Episode Listen Later Nov 4, 2021 2:29


Entre atouts naturels et investissements, Londres a multiplié ses capacités en éolien offshore ces 20 dernières années. Boris Johnson a même dit il y a quelques mois que le Royaume-Uni voulait être "l'Arabie saoudite de l'éolien".

Gearbox Talk
78: Offshore Tuna & Wahoo Tips & Gear | Jonathan Newar From Captain Experiences

Gearbox Talk

Play Episode Listen Later Nov 3, 2021 20:03


Jonathan Newar has been fishing his whole life but has recently started a business that connects folks with knowledgeable guides. We asked Jonathan to come share his knowledge about offshore fishing for wahoo and tuna fishing. He answers questions like, can you explain the differences and similarities of wahoo and tuna, do you fish for tuna and wahoo with a pretty similar tackle setup, what is your tuna and wahoo fishing setup, when you're fishing for Tuna, you're doing a lot of chumming. Can you explain that and some of your topwater approaches, can you explain your trolling strategy, I think you're using some artificial, and how far out and deep are you finding these fish?**Gearbox Talk is brought to you by GoWild**Download GoWild today. Join a community of shooters, hunters, anglers and outdoor enthusiasts.Gear Mentioned:Topwater Nomad Chug Norris Offshore open face reel Saltwater braided line Nomad DTX Minnow Nomad Mad Max Yo-Zuri BonitaWilliamson Lures Ballyhoo Combo Offshore Candy Skirt Show Notes:Captain Experiences' Website#GearboxTalk #Wahoo #Tuna @GoWild Hunting, Fishing & Outdoors

Forschung Aktuell - Deutschlandfunk
Offshore-Windparks - Strategien für den Rückbau auf See

Forschung Aktuell - Deutschlandfunk

Play Episode Listen Later Nov 3, 2021 4:08


Auf dem Meer weht in der Regel ein kräftiger Wind - optimal, um Windenergie zu ernten. Doch Wind, Wellen und das salzige Wasser begrenzen die Lebensdauer von Offshore-Windrädern. Forscher untersuchen deshalb bereits, wie sie sich künftig am besten wieder abbauen und recyceln lassen. Von Monika Seynsche www.deutschlandfunk.de, Forschung aktuell Hören bis: 19.01.2038 04:14 Direkter Link zur Audiodatei

Rod and Reel Radio
Rod and Reel Radio 10/31/21

Rod and Reel Radio

Play Episode Listen Later Nov 1, 2021 107:15


Steve Yatami from Adventure Travel Alliance talked about fishing some of the most exotic locations on earth. Jimmy Decker reported on Bad Company's Mag BayHem fishing trip a couple of seasons ago.

The Tech Talk for Accountants Show
Shawn Parikh- The Benefits of Offshore Staffing

The Tech Talk for Accountants Show

Play Episode Listen Later Nov 1, 2021 32:15


Shawn Parikh is the Founder-Chairman of Entigrity Offshore Staffing. A Chartered Accountant by qualification, he has over 15 years of experience of being a problem solver for small to mid-size firms and over time he has given consultation to thousands of CPAs, accountants and tax pros. Shawn has always been a big believer and advocate of social enterprises and small accounting firms & business. He forged the foundations of Entigrity to help bridge the existing gaps that plague the accounting community, finding and retaing talent being a top concern. Shawn can be best described as a visionary and strategist on technology and firm management in the accounting profession. He consults and speaks on several topics ranging from Building Remote Team - Remote Working, Offshore Staffing, strategic planning, Scalability of Accounting Practice, cloud accounting, practice management, Linkedin Marketing, etc. --- Send in a voice message: https://anchor.fm/rush-tech-support/message

The Hydrogen Podcast
Yellow Hydrogen Could Be Liquid Gold. Also, The World's First Offshore Hydrogen Production Facility Is On Its Way. Plus, Russia Makes A Bold Statement On Hydrogen But Can They Back It Up?

The Hydrogen Podcast

Play Episode Listen Later Nov 1, 2021 10:49


Welcome to The Hydrogen Podcast!In episode 060, Russia's green energy transition will cost $1.2 trillion dollars. Lhyfe and Plug Power to create a European Green hydrogen partnership. And could high gas prices make the world take another look at yellow hydrogen? All of this on today's hydrogen podcast. Thank you for listening and I hope you enjoy the podcast. Please feel free to email me at info@thehydrogenpodcast.com with any questions. Also, if you wouldn't mind subscribing to my podcast using your preferred platform... I would greatly appreciate it. Respectfully,Paul RoddenVISIT THE HYDROGEN PODCAST WEBSITEhttps://thehydrogenpodcast.comCHECK OUT OUR BLOGhttps://thehydrogenpodcast.com/blog/WANT TO SPONSOR THE PODCAST? Send us an email to: info@thehydrogenpodcast.comNEW TO HYDROGEN AND NEED A QUICK INTRODUCTION?Start Here: The 6 Main Colors of Hydrogen

Finance & Fury Podcast
Is the property party coming to an end?

Finance & Fury Podcast

Play Episode Listen Later Nov 1, 2021 25:17


Welcome to Finance and Fury – In this episode, we will be looking at the future of property prices based around recent changes in lending assessment, bond yields and what this means for interest rates It comes as no surprise when I say that property prices have gone up a lot over the past 2 years – well above forecasts – at the same time, and in a causal manner, interest rates and bond yields have declined to record lows – but is the party coming to an end sooner than expected? As there are some emergences in the bond markets which may spell an interest rate increase ahead of schedule – putting downwards pressure on property prices - There is a bit to unpack here – do so in three parts – we will go through the current state of the property market – then what happened last week in the bond market in Australia – then what this means for central bank policy on interest rates   To start with - Looking at housing prices – Almost in lockstep – prices have increased at rapid rates across the world, reaching new heights in many cities – But rural and urban markets have shared in the spoils - which is noteworthy for two reasons First – lockdowns and movement restrictions have given rise for remote working – which has actually weakened the case for urban housing – but yet prices in urban areas continued to rise Second - housing affordability in cities was already heavily strained even before the latest irrational exuberance in property took hold - yet the lack of affordability of homeownership for large parts of the population has evidently not been an obstacle to price increases Why is this the case? Record low financing costs have increased borrowing capacity for property buyers – Plus – there is an entrenched expectation that most people hold when it comes to property in Australia – that is of long-term value gains which has made owning a home so appealing that the price level doesn't seem to matter – FOMO – it can be hard to wait to buy, if you think that in doing so the prices will be 10% higher next year, as this is what you are used to seeing These higher prices have led to higher household leverage levels - as the current acceleration in mortgage volumes clearly demonstrates – Data from CBA shows that across the country, the new average mortgage across the whole of Aus (higher in Syd and Melb, lower in NT) stands at $580,900 – which is up by around 16%, or $80,000 over the past 12 months – is it any wonder why prices have gone up by so much? This has exacerbated worsening affordability, unsustainable mortgage lending practices, and a rising divergence between prices, household incomes and rents – all of which have historically served as forerunners of a housing crises But as long as financing costs trend toward zero, property prices, incomes, and rents can continue to decouple from the real ability of borrowers to cover these debts These have been trends just not seen in Australia, but worldwide - As a result, the growth of outstanding mortgages has accelerated almost everywhere in the last 12 to 18 months, and debt-to-income ratios have risen—most markedly in Canada, Hong Kong, and Australia Due to this - pressure is mounting on governments and central banks to take action – even before lockdowns - Lending standards were being relaxed due to ever declining interest rates over the past decade – Overall, housing markets have become even more dependent on very low interest rates, meaning a tightening of lending standards could bring price appreciation to an abrupt halt in most markets New entrants into the property market have to borrow increasingly large amounts of money to keep up with higher prices – or even people wishing to upsize to a new property - As a result, the growth of outstanding mortgages has been growing due to the relaxed lending standards and falling mortgage rates. Therefore - ever-higher property prices and leverage levels imply ever-higher risks due to the property market being under the spell of a dangerous narrative – that the party will keep going The main barriers for borrowing that most households face is now based around creditworthiness – i.e. how much people can borrow – so once that obstacle is cleared, coupled with the expectation of ever-growing house prices – this has exacerbated the FOMO making homeownership look attractive regardless of price levels and leverage that it costs This rationale may keep markets running for the time being – whilst interest rates are low - But it's not sustainable in the long run. Households have to borrow increasingly large amounts of money to keep up with higher prices – resulting in higher levels of principal repayment each month – on top of the risk that interest rates rise Does all of this mean we are in a bubble? – looking at a paper released by UBS on the Global Real Estate Bubble Index - Price bubbles are a recurring phenomenon in property markets across the world – but the term bubble is a little tricky The term “bubble” refers to a substantial and sustained mispricing of an asset, the existence of which cannot be proved unless it bursts – this is because all because the price of something increases massively, to almost unsustainable levels – it doesn't mean that it is a bubble – because ironically it is only a bubble if it pops – if rates stay near zero, or even go negative and stay there, property prices can continue to climb But historical data reveals a pattern that exists with a bubble in the property market – the most typical sign is that of a decoupling of prices from local incomes and rents, as well as occurring at the same time as imbalances in the real economy, such as excessive lending and construction activity But again – even prices in Sydney are not considered to be in a bubble unless there is a turnaround in interest rates – otherwise the decade-long upward trend of house prices is likely to continue, given ongoing population growth But there are some risks to the property market now emerging – coming from APRA and the RBA Over the past month - APRA has started trying to reduce lending risks – directing banks to tighten up their assessment Price growth has clearly outpaced local incomes, stretching affordability and thereby increasing dependence on easy financing conditions even further. The growth of outstanding mortgages is accelerating again, as households are taking advantage of historically low interest rates – even people who own property are refinancing to make renovations on their existing property – Therefore - A tightening of lending rules would likely result in a setback for prices. It is now recommended by APRA that banks increase their 'buffer' from 2.5% to 3.0% on top of their loan serviceability rate This is the assessment that banks take when you apply for a loan – they look at what you could afford based around this serviceability rate, not the current interest rates However - Only two years ago, APRA's loan serviceability floor was set at 7.25% - this was more or less a hard fix – but at interest rates dropped, pressure built to change the rules which took force in 2019 - Today - On a 1.99% home loan, a borrower would be assessed on their ability to repay the mortgage at an interest rate of 4.99% - the interest rate plus the new APRA buffer of 3.0%  In reality - serviceability rates are also often calculated on standard variable rates, which are higher than discounted rates that most banks offer – but it is still lower than 7.25%   This change is expected to reduce the borrowing power of property buyers by around 5% Therefore, using some simple maths – each 0.5% of serviceability rate equates to 5% of borrowing capacity – As an example, someone who could borrow $1 million under the old buffer could now only borrow about $950,000 – but now compare this to the rules prior to 2019 – if the serviceability rate was 7.25% compared to say a standard variable rate of 5.5% (2.5% standard rate plus 3%) – this is 17.5% more that people could still borrow, even after the tightening of the lending rules While the banking system is well capitalised due to their ability to bail in with equity or capital notes - increases in the share of heavily indebted borrowers, and leverage in the household sector more broadly, mean that medium-term risks to financial stability are building The expectation is that housing credit growth will run ahead of household income growth in the period ahead – this means that more tightening could come to help curb the level of leverage – where the buffer rates increases to 3.5% and beyond What is interesting, is that these moves from APRA came after a recent RBA's post meeting statement flagged the importance of loan serviceability buffers – Which brings us nicely to the new development with the RBA -   Looking at The RBA - have said they will keep interest rates on hold until 2024 – giving forward guidance to the market, that rates will be on hold until at least until this time – to achieve this in practical terms through monetary policy, the RBA has been helping the bond markets through market operations, purchasing bonds of the secondary market to keep yields at their current target rate for 3 years at 0.1% - by any other name this is called QE But going back to Thursday last week – Or on the 28th of October depending on when you are listening - The RBA made no offer to buy the next trance of government bonds – they declined to buy the April 2024 line of bonds as part of their regular market operation, even though the yields of these bonds were already above their target of 0.1%, sitting at 0.16% - This created a shock to the market – Central banks had given clear guidance that they would do whatever it took to keep the yields of these bonds in line with the cash rate – but all of a sudden, they reneged on their agreement with not a peep As expected - the market responded poorly – by dumping these bonds, resulting in the price dropping and pushing the yield up further to 0.30% - The market waited to see if this was just a blunder – or if they were waiting until Friday – Friday came and no purchase were made – so more of these bonds were sold off and the yields spiked even higher to 0.67% Remember that a yield is the % return based around the price of the bond The fact that the RBA out of the blue decided to not purchase these bonds, which are a core part of their stimulus programme – started stoking market speculation that there is going to be an early hike in interest rates than previously thought This failure to deliver on what the RBA has promise has fuelled markets expectations that rates will have to rise much earlier than 2024 – based around the current pricing – it appears that the consensus is that there will be a 50 basis points of tightening by mid next year, and 100 basis points by year end – so interest rates will be around 1% by the end of 2022 – rather than being 0.1% Offshore events added to the drama and probability that this may occur - with the Bank of Canada stunning markets on Wednesday by ending its bond buying altogether and flagging a hike as soon as April 2022. We also had many Central banks, including is New Zealand raising the reserve cash rate by 0.25% The RBA is now under intense pressure to do something at its monthly policy meeting at the start of next month – where they will either defend its yield curve target, soften it, or drop it altogether. The RBA currently aims to buy A$4 billion a week in bonds as part of QE programme – This was always going to be reconsidered in February 2022 – But this recent unexpected withdrawal from purchasing bonds could signal the end to this plan sooner rather than later This action signals that the first-rate hike back to 0.25% could occur sooner than later, compared to 2024 – followed by four more moves to 1.25% by the third quarter of 2024 Overall – if any increases in interest rates occur, then it can be expected that these will be shallow and gradual based around a tightening cycle – it is unlikely that the RBA will increase interest rates to 1.25% in one go next year - given the elevated level of household indebtedness But this increase in interest rates ahead of schedule does put a potential downwards pressure on property prices Given that an increase by 0.5% in serviceability rate creates a reduction of 5% in borrowing standards – an increase to 1.25% for the interest rate results in around 12.5% less borrowing capacity – which means that the part may be over for ever increasing property prices – as people can borrow less and the costs to borrow become more stark but on top of this, an increase in servicing costs - If the average mortgage is $580,900 – then an increase of 1.25% results in an additional $7,261.25 p.a. in interest repayments – there are around 10.3m properties in Aus, and around 6m of these have a mortgage attached to them for which this average is based around – doing some rounding, that means that an additional $43.6bn will be spent on interest costs of owning a property This takes funds away from other spending in the economy and puts a downwards pressure on GDP spending Summary – Property in Australia is being spurred by interest rates, no surprise here – due to the increasing amounts that people can borrow, increasing the capital available to big her amounts on property – it is supply and demand If the RBA fails to follow through with their commitments to keep the 2-year bond yields at 0.1%, instead letting this spike to closer to the free market rate of 0.67% due to not purchasing these bonds – This could mean that an interest rate increase is likely to happen sooner rather than later – If increases in rates occur before is anticipated, this will have major impacts on the market – Servicing costs of households will increase From an Asset pricing perspective – prices of property could decline – or at the best reach a stagnant growth until wages and immigration rates catch up The market is currently addicted to almost free money – needs this to continue for price growth to continue, if not the prices of assets would come back in line with the fair value that interest rates represent The current price of property is technically a fair value based around record low interest rates – if interest rates go up, then the fair prices, or market price, would go down for property – if rates go negative, then prices can continue to grow Will the increase of rates and the decline in property be this week – probably not – but can we trust when the RBA has been telling us? No - the forward guidance has been that they won't increase rates until 2024 – either they will do this on the exact day these bonds mature – in April – or there is a chance that this occurs ahead of time – Either way – this is a warning – for those new home buyers – if you are purchasing for the first time – make sure you can afford repayments at a buffer of 1 to 2% interest rate above your current margin If these market predictions come true, it would dampen the potential price growth that property has been going through – so don't be banking of some short-term capital growth from a property purchase – to purchase now and be able to accumulate equity quickly to upscale Based around the rough numbers from CBA – borrowing declines by 5% per 0.5% in interest rates – so prices have the potential to decline – putting pressures in LVRs For existing buyers as well – same thing applies – make sure your cashflow can afford the interest repayments – if anything, this is an opportunity to get ahead of mortgage repayments before the interest rate cycle reverses Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/ https://www.ubs.com/global/en/wealth-management/insights/2021/global-real-estate-bubble-index.html https://tradingeconomics.com/australia/2-year-note-yield

N.C SURF FISHING WEEKLY
HOW AND WHAT FISH SEE.

N.C SURF FISHING WEEKLY

Play Episode Listen Later Oct 30, 2021 13:25


This episode we look at how and what fish see. I hope this helps you choose your color of bait, this is something  I have struggled with in the past.Support the show (https://www.buymeacoffee.com/ncsurffishing)

Honest Money
Global Investing: Discussing Warren Ingrams Personal Offshore Portfolio

Honest Money

Play Episode Listen Later Oct 30, 2021 19:15


Head of OUTVest, Grant Locke interviews Warren Ingram in this 4-part series on his new book, Global Investing Made Easy.  Our third podcast touches on trading behaviour, what Warren's desired investment strategy is, investment trusts and looking at Warren's personal offshore portfolio. Topics/ Questions: Trading behaviour: Then vs now What is your desired investment strategy when it comes to global investing? What are investment trusts and why do you use them in your portfolios? Exploring Warren's personal offshore portfolio: how you came up with this allocation and how it works for you? [Sponsored Content]  Honest Money and OUTvest are giving away 25 signed copies of Warren Ingram's latest book. To enter the lucky draw, simply sign up to the Honest Money weekly mailer, which gives you notifications on new podcast episodes, blogs and more.On the topic of global investing, it couldn't be easier than with OUTvest's brand new Global Wealth Trader. With a few clicks, you can enjoy worldwide equity exposure to 49 developing and emerging markets and over 9 000 stocks – all in a single investment, priced in South African Rands and at a low, transparent fee. Your wealth deserves the world.OUTVest is an authorised FSP. T&Cs apply. Help us help you by sending your questions through to our WhatsApp on (+27) 72 934 4218. Don't forget to follow us on Twitter, LinkedIn and subscribe to our YouTube channel for more Financial Freedom content: @HonestMoneyPod

Ray Appleton
Hour 1 - Contra Costa County Says In-N-Out Surrenders Will Halt Indoor Dining At All Locations. How Puerto Rico Became The Most Vaccinated Place In The US. As 100 Ships Idle Offshore California Communities See Rise In Toxic Pollutants.

Ray Appleton

Play Episode Listen Later Oct 29, 2021 40:13


In-N-Out, the California burger chain that became a flashpoint in the larger public discourse surrounding COVID-19 vaccination mandates, has apparently agreed to comply with Contra Costa County's health order requiring restaurants to screen customers for proof of vaccination for indoor dining. Puerto Rico is the most vaccinated place in America, according to data from the U.S. Centers for Disease Control and Prevention. More than 73% of its 3.3 million citizens are fully vaccinated, beating several states like Vermont and Connecticut with high vaccination rates. “You can't look out on the water in any direction without seeing ships of different sizes from all over the world,” said John Kindred, a long-time resident of Long Beach, California. “It's like watching an invasion before it starts, only they're not war ships and they're not attacking. But that's how many and how spread out they are.” See omnystudio.com/listener for privacy information.

Decouple
Sayonara Nuclear? Japan's Energy Transitions: feat Yuriy Humber

Decouple

Play Episode Listen Later Oct 26, 2021 63:04


I am joined by Yuriy Humber, founder of Japan NRG, to discuss Japan's complex relationship with nuclear technology and its energy issues past and present. The first and only wartime victim of atomic weapons, it went on to embrace nuclear energy for peaceful purposes, becoming a world leader in the manufacture of nuclear technology and relying on it for 30% of its electricity before turning against nuclear after the Fukushima accident in 2011. Public opinions against nuclear energy ran as high as 80% at one point. A decade on and with new commitments to reducing emissions, public opposition is turning, and the government wants to revive nuclear power to improve Japan's energy security in the context of the country's high dependency on fuel imports and ongoing energy shocks around the world. Japan has started to invest in nuclear power technologies again, with some private money going into Small Modular Reactors (SMR) in the U.S. and state funding trickling into Japan's own High-Temperature Gas-Cooled Reactor (HTGR) program. 

Although local municipalities have the final say on restarting nuclear power plants, Humber says that the pro-nuclear message has been re-gaining popularity with many arguing that Japan cannot meet its “green growth” strategy without it.
 We discuss how Japan went from being the victim of nuclear weapons to a major player in nuclear energy, tying that in with a broader history of energy of Japan, characterized by a series of rapid energy transitions. The transition from coal to nuclear could serve as an example to other countries, though it was a process that faced many challenges of its own and relied on making some promises the government ultimately couldn't keep. As someone who lived near both the Chernobyl and Fukushima accidents at the time when they occured, Humber has a first hand perspective on the cultural and political changes around nuclear in 2011. We discuss these aspects as well as technical problems facing Japanese energy supply following the closure of its many nuclear plants. Finally, we discuss the alternatives for Japanese decarbonization. The challenge of providing constant power to a megapolis such as the Tokyo metro area is immense. Already Japan has the most solar panels per square meter of any country on Earth. And it has ambitious plans for off-shore wind and eventually a hydrogen economy. Carbon capture has been discussed, yet only one geological carbon storage test facility exists in all of Japan. The obstacles to more ambitious renewables plans too are becoming clear, not only from land use, materials intensity, and issues of intermittency, but NIMBYism. About 1/10 of all municipalities in Japan have ordinances to limit wind and solar deployment or ban it completely. Offshore wind forecasts of 10 GW by 2030 and 45 GW by 2040-2045 have slowed to perhaps 2-3 GW by 2030. Even if Japan is able to rely on nuclear for 20-22% of its electricity needs, decarbonization will be a long and bumpy road, with a likely dependence on LNG and other fossil fuel imports for long into the future. Yuriy Humber is the founder of the Japan NRG platform, which provides regular information and analysis about the Japanese energy and power industry, markets, and policy. He is also a columnist on energy issues for the “Nikkei Asia” and co-author of an economic research report on Japan by the American Chamber of Commerce in Japan.

Financial Sense(R) Newshour
How to Protect Your Assets From Lawsuits with Domestic and Offshore Trusts

Financial Sense(R) Newshour

Play Episode Listen Later Oct 25, 2021 25:52


Oct 25 – Jim Puplava welcomes Kevin Day from Tresp, Day, & Associates to discuss the various strategies that individuals and business owners can take to protect assets, whether that's through... Subscribe to our premium weekday podcasts: https://www.financialsense.com/subscribe

Rod and Reel Radio
Rod and Reel Radio 10/24/21

Rod and Reel Radio

Play Episode Listen Later Oct 25, 2021 109:44


Lure designer and Director of the BBZ Jr. Bass Championships, Bill Siemantel, discussed this Upcoming event and his new role as one of America's top fishing lure designers. Capt Chuck Taft from Sea Adventure Sportfishing made sure our listeners were updated on local offshore fishing conditions. Avid saltwater anglers Rob Tressler & Lori Heath shared with us some of the techniques they employ to bring over the rail the impressive numbers of blue fin they've hooked up with this season.

Red Wing's Oil and Gas HSE Podcast
API’s Offshore Safety Director Russ Holmes

Red Wing's Oil and Gas HSE Podcast

Play Episode Listen Later Oct 25, 2021 25:07


Welcome to the Oil and Gas HSE podcast — brought to you on the Oil and Gas Global Network by Endress+Hauser. Simply put, if your area of expertise or interest is in offshore safety you don't want to miss this podcast as Russell sits down with another Russell, Russell Holmes, the American Petroleum Institute's Director for Offshore Safety and a former United States Coast Guard Officer.   Contact Russell Holmes via LinkedIn: linkedin.com/in/russholmes Center for Offshore Safety: centerforoffshoresafety.org/ Win an Endress+Hauser/OGGN jacket and koozieRegister for our monthly Endress+Hauser HSE Podcast giveaway here: https://cx.endress.com/hse-podcast More Oil and Gas Global Network PodcastsOGGN.com – https://oggn.com/podcasts OGGN Street TeamLinkedIn Group – https://www.linkedin.com/groups/12458373/ OGGN on SocialLinkedIn Group | LinkedIn Company Page | Facebook | modalpoint | OGGN OGGN EventsGet notified each month Russell StewartLinkedIn

JSEDirect with Simon Brown
Market in review 25 October 2021

JSEDirect with Simon Brown

Play Episode Listen Later Oct 25, 2021 47:22


Offshore / Evergrande has its suspension lifted and makes an interest payment / Oil remaining stubbornly high / Inflation fears, time for gold? / Paypal maybe buying Pinterest for US$45billion / Netflix results, still growing albeit north America very slowly / Facebook getting a new name as the future is the metaverse Local / Local CPI 5% for September / Pick n Pay results / Excellent results from Combined Motor Holdings / Clicks results / New Satrix All Share ETF listing in November / Renergen launches a helium token

International Law Behind the Headlines
Episode 32: The Pandora Papers - Offshore Finance with Felix Salmon

International Law Behind the Headlines

Play Episode Listen Later Oct 22, 2021 24:47


In this episode Kal interviews Axios Chief Financial Correspondent and Slate Money host Felix Salmon about the recent, massive data dump of financial documents related to offshore tax avoidance and evasion, money laundering, and the role of lawyers in enabling and regulating this activity.

AntiCast
AntiCast 499 - Pandora Papers

AntiCast

Play Episode Listen Later Oct 21, 2021 56:54


Neste programa Giselle Camargo conversa com Guilherme Amado, um dos jornalistas brasileiros que fazem parte do Consórcio Internacional de Jornalistas Investigativos. A ICIJ, da sigla em inglês, é responsável pelo Pandora Papers, uma investigação enorme que revelou estratégias e artimanhas utilizadas por pessoas muito ricas para se livrarem dos impostos. Paulo Guedes, que de bobo só tem a caspinha no paletó, aparece na lista. Roberto Campos Neto, presidente do BC também é citado. O Brasil foi o quinto país com maior número de citados. E nem pareceu. A grande imprensa aqui ficou quieta. Rabo preso que fala?

The Uptime Wind Energy Podcast
EP83 – Uptime 83 – Off-Shore Wind Turbine Suction Caisson Installations – How do They Work?

The Uptime Wind Energy Podcast

Play Episode Listen Later Oct 20, 2021 59:28


In this episode, we discuss the installation of offshore wind turbines at Hornsea 2, which are being embedded in the seafloor via suction caisson jackets. But, how do they work? We also discuss Australia's future in renewables, the Sami people's legal battle over a wind farm that disrupts reindeer herding. Plus, can Puerto Rico's electricity grid be rebuilt with renewables, or only with fossil fuel sources, as is currently proposed? Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us!  Transcript: Uptime 83 - Off-Shore Wind Turbine Suction Caisson Installations - How do They Work? This episode is brought to you by weather guard lightning tech at Weather Guard. We make lightning protection easy. If you're wind turbines or do for maintenance or repairs, install our strike tape retrofit LPS upgrade. At the same time, a striketape installation is the quick, easy solution that provides a dramatic, long lasting boost to the factory lightning protection system. Forward thinking wind site owners install strike tape today to increase uptime tomorrow. Learn more in the show notes of today's podcast. Welcome back. I'm Dan Blewett I'm Allen Hall, and I'm Rosemary Barnes, and this is the uptime podcast bringing you the latest in wind energy, tech news and policy. All right, welcome back to the Uptime Wind Energy Podcast. I'm your co-host Dan Blewett. on today's show. We've got a bunch of Australian news we'll start off with. So Rosemary is going to have some a strong presence in this episode, as if she didn't already. We'll talk about some of Australian entrepreneur Mike Cannon-Brookes, and he's the founder of Atlassian, which is an amazing suite of software products. Some of his ideas for Australia's renewable future. We'll talk a little about battery manufacturer Red Earth and some of the things they're doing. Kind of like Tesla's Powerwall. They have a bunch different storage solutions over in Australia. We'll talk about some of the seas and wind in Australia. And then moving on, we'll chat a little bit about this reindeer situation with the Sami people in Norway is a really interesting ruling that could get a wind farm dismantled if their lawyers. Right. We'll talk about crabs and their electromagnetic fields. We'll talk about suction, caissons and some of the new offshore wind turbine foundation jackets that have just been installed. An update on the horn seeta wind farm, a 107 meter, a wind turbine blade mold. And lastly, will shed a little bit about Puerto Rico and their electric grid to rebuild. Before we get going on our mind, you subscribe to Uptime Tech News, our weekly newsletter. It's growing fast and you can get a weekly update from us with new wind energy news all from around the Web, as well as alerts for about the new podcasts and videos. And definitely subscribe to Rosemary Barnes's YouTube channel, which you'll also find in the description of this podcast. So, Rosemary, come up on stage. Let's talk about Australia here. So might Mike Cannon-Brookes again. He's a co-founder, co CEO of Atlassian. They make Trello Jera, which is their project development software. They had tons of teams work with that, getting projects from start to finish and a lot of other stuff. He's a big entrepreneur in Australia, and he says they should be aiming for 500 percent renewables. Rosmarie, 500 percent seems ambitious. Yeah, but I mean, if you think about it at the moment, the amount of calls with that Australia exports, I don't know what percentage we're at in terms of fossil fuel generation,

Beyond The Horizon
Follow The Money: How The Richest Amongst Us Pay The Least In Taxes (Part1)

Beyond The Horizon

Play Episode Listen Later Oct 20, 2021 43:56


In a bombshell report...Propublica has obtained the tax information from some of the wealthiest people in the nation and the small amount of taxes they paid is staggering.Join me as I dive in!To contact me:bobbycapucci@protonmail.comSource:https://www.propublica.org/article/the-secret-irs-files-trove-of-never-before-seen-records-reveal-how-the-wealthiest-avoid-income-tax

Earth Wise
Giant Wind Turbines | Earth Wise

Earth Wise

Play Episode Listen Later Oct 19, 2021 2:00


Wind turbines keep getting bigger and bigger.  The reason is that the power a wind turbine can theoretically generate is proportional to the disk-shaped area swept out by its blades.  So, the bigger the blades, the more power can be produced by a single turbine. That being said, real-world turbines don't achieve their theoretical power […]

Haaretz Weekly
The millions worth offshore accounts bankrolling Israeli settlements

Haaretz Weekly

Play Episode Listen Later Oct 18, 2021 33:58


In this week's episode, we discuss intriguing findings from the Pandora Papers leak regarding Israel – from offshore companies in tax havens that finance settlement purchases, to the business empire of Israel's richest politician. Uri Blau, a member of the investigative journalistic consortium that uncovered the documents, joins host Amir Tibon for a fascinating conversation (starting at time code 11:30). Also on the show, Allison Kaplan Sommer takes us inside last week's Trump administration reunion in Jerusalem, which featured everything from an evangelical-funded documentary series to the potential launching of a 2024 presidential campaign. Hear the full story and the evening's highlights.  See omnystudio.com/listener for privacy information.

JSEDirect with Simon Brown
Market in review 18 October 2021

JSEDirect with Simon Brown

Play Episode Listen Later Oct 18, 2021 43:27


Offshore / September, the CPI increased 5.4% after advancing 5.3% on a year-on-year basis in August. / China Q3 GDP at 4.9% / Biden announced that the Port of Los Angeles would start operating around the clock, following the Port of Long Beach's lead, to ease congestion / $2.7 Trillion in Crisis Savings Stay Hoarded by Wary Consumers / Microsoft shuts down LinkedIN in China / MTNs IHS Towers lists in NY, MTN stake worth R22bn Local / Government cracking down on imported cement, but not with tariffs. / IMF bumps local GDP to 5% for 2021 / Murray & Roberts expands in the US / Long4Life results and offer on the table / Tharisa gets their Chrome plant cold commissioned / Alaris & CSG both have delisting offers.

Beyond The Horizon
Follow The Money: How Easy Is It To Stash One Billion Dollars Off Shore

Beyond The Horizon

Play Episode Listen Later Oct 17, 2021 23:14


Five years after the Panama Papers leak and the world of dark money and tax evasion is still in overdrive. On todays episode we take a look at that leak and how easy it is to stash a cool billion dollars off shore. To contact me:bobbycapucci@protonmail.comSource:https://news.bloombergtax.com/daily-tax-report/is-it-still-as-easy-to-hide-1-billion-5-years-after-the-panama-papers

BFFs featuring Josh Richards and Dave Portnoy
FAZE BANKS SPEAKS ON OFFSHORE GAMBLING ACCUSATIONS — BFFs EP. 52

BFFs featuring Josh Richards and Dave Portnoy

Play Episode Listen Later Oct 14, 2021 96:03


This week, we're joined by FaZe Banks to talk about the origins of himself and FaZe Clan. We discuss the recent Coffeezilla investigation series into the offshore gambling involving him Nelk/SteveWillDoIt/others, his focus on NFTs, and which influencers he'd let into FaZe. We finish with this week's TikTok and pop culture headlines. Support Our Sponsors: Go to https://barstool.link/BetterhelpBFF for 10% off your first month. Go to https://barstool.link/BFFs and use the code “JOSH” for 20% off your first order!

Post Reports
Looted treasure and offshore accounts

Post Reports

Play Episode Listen Later Oct 7, 2021 18:49


Cambodia wants its religious artifacts returned. Dozens tied to an indicted collector remain in prominent museums. The Pandora Papers expose his reliance on offshore secrecy. Plus, U.S. lawmakers respond to revelations in the Pandora Papers.Read more:Cambodia wants its religious artifacts returned. Dozens tied to an indicted collector remain in the Met and other prominent museums. The Pandora Papers expose his reliance on offshore secrecy, as Peter Whoriskey reports. Although it's only been a few days since the Pandora Papers published, there has already been a wave of reaction around the world, including in the United States. Will Fitzgibbon, a senior reporter with the International Consortium of Investigative Journalists, reports that lawmakers are calling for a crackdown on financial “enablers.”

Planet Money
We set up an offshore company in a tax haven (Classic)

Planet Money

Play Episode Listen Later Oct 6, 2021 31:31


The Pandora Papers released this week reveal how many world leaders allegedly hold wealth through the use of shell companies. We listen back to when we set up our very own Planet Money shell companies.