While BP has been busy spewing oil into the Gulf of Mexico, many other oil companies have been busy finding oil under the waters of other gulfs, seas and oceans. In fact, Brazil’s state-controlled energy giant, Petrobras (NYSE:PBR), just announced a major oil discovery in offshore Angolan waters. Water depth is about 1,500 feet.
July 30th, 2010 | Byron King | 0 comments | ContinuedAfrica
Commentary on African economics, politics and society by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
A Glowing Recommendation
One of the best investments we can make right now is to buy into supplies of relatively secure, low-cost uranium – the feedstock for nuclear reactors. The simple story is that the uranium supply trails far behind demand. The added wrinkle is that supply cannot easily increase.
July 14th, 2010 | Chris Mayer | 6 comments | Continued
An African Divergence
It is not every day that you can stick your finger in the eye of your largest trading partner, undermine your country’s reputation as a stable place to do business, and demonstrate your fundamental ignorance of why entrepreneurs take risks…but in his high-handed small-minded way, Kevin Rudd managed to do all of that yesterday.
May 4th, 2010 | Dan Denning | 23 comments | Continued
Millions of Zimbabweans Face Starvation due to Nationalisation caused by Hyperinflation
As Milton Friedman once said, “If you let the government run the Sahara Desert, soon there will be a shortage of sand.”
July 24th, 2008 | Kate Incontrera | 5 comments | Continued
Zimbabwe’s Opposition Party Decided that Voting Wasn’t Worth Dying for
The big news today: Zimbabwe’s opposition party decided that voting wasn’t worth dying for. A wise decision, in our opinion. Meanwhile, the British press is making fun of Pillsbury, North Dakota.
June 24th, 2008 | Bill Bonner | 3 comments | Continued
South African Dockers are Refusing to Unload Chinese Firearms
Three million rounds of ammunition suitable for AK47s and 1,500 rocket-propelled grenades, were ordered by the Zimbabwean military at the time of the March 29 election – which Britain and other Western powers have accused Robert Mugabe of trying to rig.
April 23rd, 2008 | Bill Bonner | 7 comments | Continued
Inflation in South Africa & the Global Commodity Cycle
The cost of living is cheap in South Africa. But it’s going up, just like it is everywhere else. The government announced on Friday that the retail price of petrol and diesel would go up. Consumer price inflation in South Africa is running at about 8%. Curiously, the Friday release of producer price inflation has been delayed “indefinitely,” according to Statistics SA. Some of the South Africans we’ve spoken to in the last six days worry that this country is headed in the direction of Zimbabwe.
March 3rd, 2008 | Dan Denning | 5 comments | Continued
Reader Mail: South African Power Crisis
Is it really as bad in South Africa as our correspondent wrote yesterday? We have no idea, but promise to report back first-hand if we end up going later this month. One reader says we didn’t tell the whole story.
February 14th, 2008 | Dan Denning | 4 comments | Continued
South Africa’s Power Outages Create National Emergency
South Africa is gripped in a crisis of rolling power outages caused by the incompetence of highly paid government ministers and their charges. The news of the weekend is that the nation is in dire straits with the supply of clean, drinkable water to households and business alike.
February 13th, 2008 | Dan Denning | 1 comment | Continued
South African Power Crisis Anxieties Cause Gold Price Increases
In January 2007, the gold price was around $600 an ounce; at the end of January 2008, the gold price touched a new peak of $929 an ounce. That is a rise of 50 per cent in twelve months. The rapidity of the rise invites the question whether it can be sustained. I have expected [...]
February 1st, 2008 | William Rees-Mogg | 1 comment | Continued
South Africa’s Apartheid Pilots Being Hired in China
We are on a plane again. This time, we are making our passage to India. Johannesburg was more dynamic than we remembered from our visit last year. More shopping malls. More new restaurants. The place is booming. “Yes it is very nice…very full of life,” says the pretty South African woman, now sitting to our [...]
December 10th, 2007 | Bill Bonner | 3 comments | Continued
World Cup to Boost Economic Growth in South Africa
“The economy has slowed down…but just a little,” explained a colleague in Johannesburg. “Here in South Africa, we’ve had very good growth over the last few years. Now, GDP growth is down to about 4%…but it’s still good. “And there’s a lot of activity. People are starting new businesses. People are making money. In fact, [...]
December 6th, 2007 | Bill Bonner | 0 comments | Continued
Americans Still Falling for Nigerian Email Scams
Our old friend, Mark Skousen has a new book out – Investing in One Lesson. A tight book, full of practical insights and advice, it is well worth reading. “While sleeping in a hotel room in Los Angeles,” he begins his story…“The phone rang.” “I lifted the receiver and heard from a man who said [...]
October 16th, 2007 | Bill Bonner | 0 comments | Continued
Zimbabwe Inflation Running at 100,000%, Life Expectancy Drops to 37
Look at Zimbabwe. Inflation is officially running at about 7,000% per year. But unofficial estimates say the rate for this year will turn out to be more like 100,000%. Marc visited Zimbabwe recently. He says he went out to buy a bottle of orange squash on Monday; it was 120,000 Zim dollars. On Tuesday, the [...]
October 15th, 2007 | Bill Bonner | 10 comments | Continued
Zimbabwe Stock Market Booms as Economy Collapses
Zimbabwe is an economic hellhole. Inflation is running at 1,000s of percent per year… the economy is collapsing…and the stock market is actually going up faster than any in the world. But Zimbabwe is still worth looking at, because it reminds us of what wealth really is, and that – given the right circumstances – [...]
July 31st, 2007 | Bill Bonner | 0 comments | Continued
