Deal reached in US financial crisis [Update- NOT Passed]

[Table 5]

Originally Posted by Azure

We are FAR from developing an alternative that could replace oil.

I dont disagree that we have a way to go, I just think high oil prices might be the catalyst that makes things happen faster.

[Table 5]

Originally Posted by Phanuthier

I believe R&D spending and start ups usually tank during a recession, don't they?

Well during recessions most things tank and do poorly. My theory, if you can call it that, is based more on an "everything is more or less ok" economic state...

[Phanuthier]

Originally Posted by flamesfever

Do you have some information we don't have re economically competing alternative energy sources to oil?

Originally Posted by Table 5

nope, just stating my opinion. does it not make sense though that if something is too expensive, you look for alternatives? and if those alternatives offer distinct advantages, they will replace the incumbent technology?

Originally Posted by Azure

We are FAR from developing an alternative that could replace oil.

Just wanted to comment on this as well

Alternative energy is available in production and it is widely used, but Canada (outside of BC) tends to be slower in adapting to new technology. The USA (especially California) has heavily promoted the use of solar panals and its widely used across parts of the country, notably California. Googleplex and Googlers are known to be very environmentally friendly, with lots of use of solar power and I believe some even have (semi) solar powered cars. China and India, two countries often bashed for being dirty, also have made a very strong push to implement solar energy as well. Now i know it doesn't really make too much sense to use solar energy in Canada, but I tend to find Canada more resistive to alternative energy.

Wind power is used in Canada and across the world. Biofuels is more in R&D, and the obstacle is obviously to find biofuels that don't use food with food prices rising. IMO nuclear still isn't an option.

[Phanuthier]

I'm really spamming this thread, but Harry Reid just said (another?) major insurer is on the verge of bankruptcy. Any guesses?

[Table 5]

Originally Posted by Phanuthier

Alternative energy is available in production and it is widely used, but Canada (outside of BC) tends to be slower in adapting to new technology. The USA (especially California) has heavily promoted the use of solar panals and its widely used across parts of the country, notably California.

Texas is also fast becoming a giant wind player. It is already #1 in the US, produces 3% of its energy from wind as of now, and plans to build the biggest windfarm in the world. It's encouraging to see the that Oil country USA is looking at alternative energy as a source of income...if only Canadian's were as forward-thinking.

[Azure]

Originally Posted by Table 5

I dont disagree that we have a way to go, I just think high oil prices might be the catalyst that makes things happen faster.

I would agree with that.

Besides, even with $110 oil, there is no reason gas prices should be $1.30/L.

[Azure]

Originally Posted by Phanuthier

Just wanted to comment on this as well

Alternative energy is available in production and it is widely used, but Canada (outside of BC) tends to be slower in adapting to new technology. The USA (especially California) has heavily promoted the use of solar panals and its widely used across parts of the country, notably California. Googleplex and Googlers are known to be very environmentally friendly, with lots of use of solar power and I believe some even have (semi) solar powered cars. China and India, two countries often bashed for being dirty, also have made a very strong push to implement solar energy as well. Now i know it doesn't really make too much sense to use solar energy in Canada, but I tend to find Canada more resistive to alternative energy.

Wind power is used in Canada and across the world. Biofuels is more in R&D, and the obstacle is obviously to find biofuels that don't use food with food prices rising. IMO nuclear still isn't an option.

Solar energy doesn't power cars. Nor does wind power. At least not yet.

Again, we are far from finding an alternative to oil.

EDIT: Not to say that Wind/Solar/Nuclear isn't a good option....it is, but it will still take a long time before more than 80% of our energy is from renewable resources.

[Table 5]

WWBD

http://money.cnn.com/2008/10/02/news...ion=2008100212

[Table 5]

Originally Posted by Azure

Solar energy doesn't power cars. Nor does wind power. At least not yet.

I think solar/wind/nuclear are more of an alternative to coal, than anything.

[Phanuthier]

Originally Posted by Azure

Solar energy doesn't power cars. Nor does wind power. At least not yet.

Again, we are far from finding an alternative to oil.

EDIT: Not to say that Wind/Solar/Nuclear isn't a good option....it is, but it will still take a long time before more than 80% of our energy is from renewable resources.

Some info on Google / Googleplex

Google's solar powered car driven by some execs: http://www.informationweek.com/galle...leID=199905439

Google's solar panals: http://www.treehugger.com/files/2006...es_solar_t.php
http://www.autobloggreen.com/2006/12...-headquarters/
http://www.submitexpress.com/news/sh...hp?article=478

Toyota's plan for solar car: http://offgrid-living.blogspot.com/2...ming-soon.html (die GM)

Also I don't have a link for this, but I was at Googleplex last month and alot of their stand-alone technology (designed in house, the 20% rule) is all run exclusively on solar power.

[Finner]

Day End Market Update!!!!

TSX finishes down 813 points...first time breaking into the 10's in two years.
Oil down $3.57 to $94.96
Gold down $45.30 to $842.00
CDN $ down 1.28 to 92.92

Commodities got hammered. Its funny watching people jump from the high growth stocks into the defensive stocks.

Currently POT has a lower PE ratio then the Canadian banks.


As to alternative energy you guys should check out Nanosolar. Google is one of there major investors. They can basically print cheap, thin, solar cells.

Can find more information here: http://www.nanosolar.com/products.htm

They are cheaper, more efficient and way thinner then conventional panels. You can basically print off a bendable panel, stick it to, say the back of a cell phone and BOOM its solar powered. Pretty cool.

Video here: www.youtube.com/watch?v=4riNlqZHCTQ

[Phanuthier]

Spamming this thread again cause I just got this over email...

Largest Solar Thermal Storage Plant to Start Up
http://spectrum.ieee.org/oct08/6851

Finner - whats your interest in POT?

[nickerjones]

if my math is right or estiamtiong math would gas here 2.93 a gallon be like 80 cents a litre???

[Finner]

Originally Posted by Phanuthier

Spamming this thread again cause I just got this over email...

Largest Solar Thermal Storage Plant to Start Up
http://spectrum.ieee.org/oct08/6851

Finner - whats your interest in POT?

Not a whole lot. I trade it a lot for clients so i know it pretty well. Don't hold any myself, but it was the big driver for the tsx drop today.

Don't often see blue chip stocks shed 25% of there value in a single day. Especially on pretty mild news.

[Azure]

Originally Posted by Phanuthier

Some info on Google / Googleplex

Google's solar powered car driven by some execs: http://www.informationweek.com/galle...leID=199905439

Google's solar panals: http://www.treehugger.com/files/2006...es_solar_t.php
http://www.autobloggreen.com/2006/12...-headquarters/
http://www.submitexpress.com/news/sh...hp?article=478

Toyota's plan for solar car: http://offgrid-living.blogspot.com/2...ming-soon.html (die GM)

Also I don't have a link for this, but I was at Googleplex last month and alot of their stand-alone technology (designed in house, the 20% rule) is all run exclusively on solar power.

Google is also worth $180 billion. If I had that much money I'd power everything with solar as well.

But for a normal, middle-class person? Its very unlikely that solar or wind power is affordable. At least not yet.

[V]

Originally Posted by Table 5

If there is a global slow-down and people arent driving as much, companies aren't producting products as much (ie things with petrochemical plastics), goods aren't shipped as much.....why would the demand for oil go up?

Because it's priced in USD. And oil is no longer priced on fundamentals alone, but instead is a hedge against the USD.

[Phanuthier]

Originally Posted by Azure

Google is also worth $180 billion. If I had that much money I'd power everything with solar as well.

But for a normal, middle-class person? Its very unlikely that solar or wind power is affordable. At least not yet.

Yes the average middle class person could, if you could get financing. I know in CA, there are promoting the use of solar panals with things like tax incentives to help offset the cost. I don't know the exact cost of it, but I know prices have significantly dropped since the dot com crash for the reason stated above.

[Phanuthier]

Originally Posted by Finner

Not a whole lot. I trade it a lot for clients so i know it pretty well. Don't hold any myself, but it was the big driver for the tsx drop today.

Don't often see blue chip stocks shed 25% of there value in a single day. Especially on pretty mild news.

So, what made it drop 25%?

[Bertuzzied]

Anyone know what time the vote will be today? Will it be before market close at 2pm?

[mykalberta]

Hopefully this vote fails.

What makes anyone think that US government owning bad mortgages is a good idea.

If anything this 700bil should only be to assist US based companies of buying up assests of those companies that fail there by creating a strong US finanical system and not propping up companies whos managers have done an absolutely terrible jobs of mitigating risk.