Opponents of measure to hike hotel tax offer alternatives Posted: January 10, 2018 Sasha Foo, Sasha Foo Updated: 4:57 PM January 10, 2018 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) — Proponents of a citizens’ initiative to raise more money to expand the San Diego Convention Center and fund programs to end homelessness are asking voters to approve a hike in the hotel occupancy tax, or what’s known as the TOT.A coalition of hotel owners, business leaders, labor unions and advocates for the homeless kicked off their campaign on Monday, calling for an increase of 1.25 percent to 3.25 percent from the current hotel tax of 12.5 percent.Not everyone thinks the measure, called “Yes for a Better San Diego,” is a good idea. George Mullen is a San Diego businessman who believes the hotel industry has simply figured out a clever ploy to finance a bigger convention center.“The hoteliers have been looking at expanding the convention center, or trying for seven or eight years and routinely failed. So they’re using as window dressing, the homeless crisis to try to get the convention center passed. From our perspective, it’s very disingenuous,” Mullen said.By Mullen’s estimate, that tax hike would rake in an additional $28 million a year for homeless initiatives.The businessman says that’s less than 10 percent of what the City and County currently spend on homeless programs each year.Even with the added revenue, Mullen said he’s not convinced that the people who helped to spawn the homelessness crisis will be able to end it.Councilmember David Alvarez also believes it’s a mistake to link programs for ending homelessness to building a bigger convention center.Alvarez is making his own pitch to tap money from the hotel occupancy tax.He’s asked the City Council Rules Committee to look at changing the City Charter so that one cent from the tax would be set aside to fund homeless services and supportive housing over the next five years.“I’d say we need to focus on the crisis at hand,” Alvarez said. “We don’t have a convention center crisis. We have a homelessness crisis. My measure focuses only and exclusively on homelessness,” Alvarez added.The Council member said that the City would realize about $130 million over five years, and he says his plan would not raise taxes. On Wednesday, the Rules Committee voted to move forward on Alvarez’ proposal with more analysis and discussion by City Council’s Budget Committee. Categories: Local San Diego News Tags: Councilmember David Alvarez, San Diego Convention Center FacebookTwitter
Kolkata: Kolkata-bound VIP Road will be blocked for at least two months to fast track the completion of a subway coming at Sreebhumi in Lake Town.The Bidhannagar City Police on Thursday evening kicked off the trial run that will go on for two days before embarking on the two-month blocking. The police has decided to use the Kolkata-bound service road of Lake Town and VIP fully for vehicular movement during this two -month block period.”The lane of main carriage way of airport-bound road of Lake Town and VIP Road will be utilised for the movement of some Kolkata-bound small vehicles, mainly in the morning and as and when required depending on the vehicular pressure,” a senior police official of the traffic wing of Bidhannagar City police said. Also Read – Rain batters Kolkata, cripples normal lifeElaborating on the movement of traffic, the official said the vehicles those will be diverted from Kolkata-bound VIP Road to Airport-bound VIP Road through the cut out near Sreebhumi foot overbridge will move upto Golaghata subway taking one lane of Airport flank main carriage way.Following this, the vehicles will again merge into the Kolkata-bound main carriage way of VIP Road through the cut out after Golaghata foot overbridge.”During the diversion, Airport-bound vehicles will avail the Lake town service road and rest of the one lane of Airport bound VIP main carriage way,” the official added.The Traffic department will dedicate a number of lanes equal to the existing lanes towards Airport or Kolkata flank, depending upon the traffic pressure during peak hours to avoid any unnecessary delay.
Categories: Wentworth News State Rep. Jason Wentworth of Farwell announced today that Farwell Area Schools will receive over $102,000 and Beaverton Rural Schools will receive over $88,000 to bolster safety in each school as part of the Competitive School Safety Grant Program.“The greatest resources we have are our children and young people,” Wentworth said. “We must continue to make our schools safer in every Michigan community. Our kids, teachers, and faculty deserve to feel safe in our schools. I applaud the Michigan State Police for investing money in projects like this.”The Competitive School Safety Grant Program was created under House Bill 5828, which was sponsored by Representative Wentworth in 2018. Over 130 public school districts, 66 non-public schools, 20 public charter schools and nine intermediate school districts will receive $25 million. The money will be used to purchase technology and equipment that will improve safety and security of students, staff and school buildings. 02Apr Rep. Wentworth announces school safety grant
In This Issue… * Currencies remain stuck in a rut… * euro held hostage by elections… * A$ takes more hits… * Gov’t gets hands in Oil cookie jar… And, Now, Today’s Pfennig For Your Thoughts! A Jobs Jamboree Friday… Good day… And a Happy Friday to one and all.. Right now, it’s not so much a Fantastico Friday, in fact right now, it’s a draggin’ the line Friday… Both the Cardinals and Blues lost yesterday, and I spent most of the night up with an upset stomach… UGH! So, no fun for me yet… But that will change, I can feel it in my bones… Also feeling it its bones, is the price of Oil… after reaching a high of nearly $106 on Wednesday, the price of Oil has hit the slippery slope (yay!) all the way down to $101.27 this morning… While it will take awhile before this ride on the slippery slope is seen at the gas pump, if ever, the psychological feeling it has for consumers is good.. It won’t play well with the petrol currencies, like: Norway, Canada, Russia, etc. I’m going to get back to the price of Oil in a bit here, but first, the currencies… Well, the currencies are still stuck in that rut we talked about yesterday… the underlying bias remains to buy dollars right now, but it the bias is very weak folks.. very weak… It is a Jobs Jamboree Friday… and right now the “experts” are saying that the Bureau of Labor Statistics (BLS) will show that 160,000 jobs were created in April… That’s quite a bit more than the ADP report showed us the day before (117,000)… and looks pretty suspect when you also factor in the Challenger Job Cuts that printed yesterday and showed an 11% gain year-on-year for April in job cuts… The markets have recently kind of gone back to the old way of valuing the dollar with outcome of the Jobs Jamboree, which would mean 160,000 jobs created is not that good… Sure, it’s better than the 120,000 jobs that allegedly created in March.. But, at this rate, jobs aren’t even keeping up with the population.. Remember, I told you long ago, that about 250,000 jobs need to be created on a monthly basis to fuel a recovering economy… 160,000 is not 250,000… But, the markets will get lathered up a bit, should the report print around 160,000, and the knuckleheads that see it as good, will mark up the dollar… the calmer heads that see if for what it is, will not mark up the dollar… So, at the end of the day, we’ll see who won… Basically, I see it like this… we all know the BLS “adjusts” the numbers to look better than they are.. but take the BLS number as it is, for that’s what the markets do, and look at it this morning with this in mind… a strong number for April would wipe out the negativity that surrounded the March weak number of 120,000 and prove that it was only a bump in the road, thus removing thoughts about QE3… But… if the number is weak, making two consecutive months of weak reports, the calls for QE3 will be deafening… and that would be dollar negative, and Gold positive… Of course if the number of jobs created per the BLS is strong, that would be dollar positive… The euro is also being held hostage this morning, as Europe heads into the weekend with two major elections to take place… France will choose a new President, probably Hollande, who is not Sarkozy, and not a fan of the great plan for the Eurozone… Greece will vote in a new Government … then in minor elections, both Germany and Italy will have regional elections… Everyone knows what to expect from Hollande, so his win, while not good for the euro, won’t hurt it too much, as a Hollande victory has already been priced into the euro… The Greece government election is a real wild card, and is putting the most pressure on the euro this morning… My thought is that this will turn out to be a tempest in a teapot… Well… the fun just keeps coming for the Aussie dollar (A$)… NOT! First the Reserve Bank of Australia (RBA) delivered a powerful blow to the mid-section of the A$, by cutting rates 50 basis points, when 25 basis points were expected, and now the RBA has moved up the A$’s body, and is slapping it in the face… The RBA lowered its growth forecasts across the forecast horizon, which is Central Bank parlance for: As far as we can see, economic growth will be weaker… So… make a notation right here, right now, that the RBA is going to cut rates another 50 Basis points (1/2%) later this year… Gold is selling off again… this morning the shiny metal is down $5… I did an interview with Dow Jones yesterday and I talked a lot about Gold, and how I truly believe that the push down that we’ve seen in the price of Gold has been Gov’t orchestrated, going back to the Wikileaks cable I told you about… The U.S. can’t have everyone replacing dollars with Gold… it’s that simple, folks.. and one day, sons and daughters, will find out the truth… and you’ll be able to tell your grandkids that you knew the guy that first talked about that… And the price of Oil might have slipped some this week, it hasn’t stopped Norway from posting some very impressive profit numbers this year… Norway, the world’s 7th largest oil exporter, will probably raise its oil-price estimate by 13% when it publishes its budget on May 15th… And I promised you that I would get back to the price of Oil and here it is… Now, let me set this up… twice this week I talked about the call that was made at the Casey Conference for $40 Oil in the next year. And while I believe as a country we should be able to achieve that, I believed that the Gov’t, the EPA, and other things would be stumbling blocks… I saw this last night in the Wall Street Journal… “the administration will soon issue new environmental-safety rules hydraulic fracturing on federal land, setting a new standard that natural-gas wells on all lands eventually could follow. The rules, which are likely to be unveiled by the Interior Department within days, are designed to address concerns that the method of extracting natural gas known as “fracking” can contaminate groundwater. Among other things, they create new guidelines for constructing wells and treating waste water, according to a draft of the proposed rules reviewed by The Wall Street Journal.” Chuck again… so, see, the Gov’t’s hand is already entering the Oil cookie jar… Then There Was This… From the Daily Reckoning… my friend, the one and only, Bill Bonner… In Europe, the following countries are now in recession: Slovenia Italy Czech Republic Ireland Greece Denmark Portugal Netherlands Belgium UK Spain In America, the last reported GDP results were positive. But take out inventory build-ups and the growth rate was only 1.6%. Not very exciting. Almost every report in the financial press said the results were “disappointing.” But why would they be disappointed? Don’t they know we’re in a Great Correction? They’re lucky there was any growth at all. And if you took out all the stimulus spending, ZIRP, LTRO, TARP, QEI, QEII, Operation Twist, and all the increases in disability…and other transfer payments… ..what do you have? Most likely, you’d be in the same situation as the UK, Spain and all the other recessed Economies.- Bill Bonner Chuck again… no one can say it like Bill does… To recap… it’s a Jobs Jamboree Friday, and the currencies’ near term direction could very well come from the outcome of the Jobs data… the currencies this morning remain in a rut, with a weak bias to buy dollars. The euro is being held hostage by elections that will take place this weekend in the Eurozone, and Gold continues to be pushed down, but by whom? Currencies today 5/4/12… American Style: A$ $1.0245, kiwi .7985, C$ $1.0120, euro 1.3130, sterling 1.6170, Swiss $1.0930, … European Style: rand 7.7380, krone 5.7590, SEK 6.7775, forint 217.05, zloty 3.1850, koruna 19.0425, RUB 29.57, yen 80.25, sing 1.2415, HKD 7.7615, INR 53.47, China 6.3059, pesos 12.99, BRL 1.9065, Dollar Index 79.29, Oil $101.27, 10-year 1.93%, Silver $29.95, and Gold $1,632.65… and with it being a Friday… here’s the U.S. debt clock for you to take a peek at. That’s it for today… don’t know what I ate that tipped my stomach upside down, but something did! UGH! I hate not getting enough sleep! Whatever it is, it needs to go away quickly, because I will be speaking to a crowd this afternoon at the KCI Conference in Palm Beach. I will talk about what is Evident, may not be imminent… Bend me, Shape me by the American Breed is playing, that’s putting me in a better mood! I get back home Sunday night, and will use Monday to recharge, hopefully Mike or Chris will offer to pick up the conn on the Pfennig Monday… So… did you see that EverBank went public yesterday? Pretty impressive EverBank banner that hung on the outside of the NYSE yesterday. The “Big Guys” got to ring the opening bell at the NYSE yesterday… Nothing changes for me, folks… I’ll still be here, writing the Pfennig, and managing the risk for the bank on our currency products… and with that… I’ll get this going out the door… I hope you have a Fantastico Friday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837 www.everbank.com
In This Issue.* Ireland wants to stand on its own two feet. * Aso says yen has fallen too far. * Canada’s strong jobs reports. * What is the Fed up to now?And, Now, Today’s Pfennig For Your Thoughts!Draghi Throws The Euro Under The Bus!Good day. And a Happy Friday to one and all! Well, I made it through the week! It was questionable the other night, but I made it! Little Delaney Grace stayed all night with us last night, so her and Mimi (Kathy) can spend the day together. She is so darn cute, and smart. And she’s a non-stop talker, question asker, and quick to comment on what she observes, little girl! The Northeast is preparing for a blizzard, so be careful and respect Old Man Winter!Well. so much for statistics! I sat here yesterday, and told you that I didn’t think ECB President Mario Draghi would mention the strength of the euro. And then pointed to statistics showing that in the past 170 ECB meetings the euro was only mentioned 15 times. And then guess what Draghi did? Yep! He signaled that “policy makers are concerned that the euro’s advance could damp inflation and hamper an economic recovery.”And the euro dropped like a rock! I was in my interview with the International Business writer, and came out to see the euro heading toward a 1-cent decline. within 30 minutes later, it was down $1.30! YIKES! So, much for all that talk by Draghi a few months ago, about defending the value of the euro, eh?It just shows to go you, that these Central Bankers will say whatever works for them at that time. The euro is attempting to work itself back onto the rally tracks this morning, but the sting from Draghi’s words is still being felt. The euro also got a lift late yesterday when it was announced that the European Central Bank (ECB) had agreed to ease the terms under which the Irish Gov’t. repays some 31 Billion euros of debts it incurred in support of its stricken banking system.The Irish Gov’t hopes the agreement will smooth the way for a return to the international bond markets in 2014, which would bring to an end Ireland’s reliance on loans from the IMF and European Union.. This is all good stuff for Ireland folks. and it looks like the rest of the world won’t be kicking sand in Ireland’s face too much longer!The Japanese yen is stronger this morning on the news overnight that Japanese Finance Minister (Fin Min) Aso, said that, “yen had weakened much more than we had hoped or expected” Those words surprised the markets, who were thinking that the 95-100 range would be where the Bank of Japan (BOJ) and Fin Min would like to see yen. Does this mean that the selling in yen is over for good? Hardly. I believe this is just a form of a circuit breaker, much like the ones the U.S. uses whenever the dollar appears to be heading over the cliff. The Japanese don’t want the markets to believe that this is a One-Way street down for yen. For, if that was the case, the momentum would carry yen far weaker than the Japanese leaders want to see.The Aussie dollar (A$) put an end to the selling last night, after the Chinese printed their latest Trade Balance report. China’s Trade Balance remained a surplus, and beat expectations printing at $29.15 Billion (VS $24.7 Billion forecast). This report signaled that China’s economic recovery is still working its way through, and long time readers of the Pfennig know all too well that a strong Chinese economy will cure all that ails the A$…So much so that the Chinese Trade Surplus was enough to offset the damage that the Reserve Bank of Australia (RBA) was attempting to inflict on the A$ by reducing their economic growth and inflation outlooks. They also made mention that the strength of the A$ was keeping growth down.. Hmmm. here we go again, right? Another Central Bank, crying in their beer about their strong currency.Closer to home. Canada will print their January employment data today. In recent prints the strength of the jobs market has outpaced the forecasts, and the forecast for today’s report is again for a weak report. The Canadian jobs market has generated net new jobs at what I believe to be a good strong pace of 37,500 per month since July. But all good things must come to an end, right? I’m on the fence with this report, as part of me says the good, strong pace will continue, and the other part says, this is the month that it falters.I guess we’ll just have to wait-n-see, eh? The Canadian dollar/ loonie is weaker this morning as the markets again believe they’ll see a weaker jobs report.The Brazilian real continues to tear a path below the 2 handle. I’m watching this and not believing what I’m seeing, given what’s gone on with the real the past two years.. Be careful here, but for now, this currency is on a tear. pent up frustration I guess.Chris and Chuck talked to the International Business writer yesterday, and the talk was mostly about the Currency Wars. I started off by telling the writer that this Currency War has been going on for years, and that it’s not the first time a Currency War was being played out before us. And then I came out to my desk, and found an email from one of our astute people in NY, Brian, that gave me a link to a story about the 1930’s currency war. I told the writer that we could either see the Currency Wars get so intense that they cause a collapse of the financial system, (not likely) or we could see the IMF step in, and try to get everyone to settle down. But that in the end, the U.S. was the most important piece to the puzzle, for if they continue to push the buttons that cause dollar weakness, it could really carry over to the rest of the countries. But that maybe, the U.S. will eventually reach a weakness level for the dollar that they believe they can work with to pay down the debt servicing (bond interest).Speaking of pushing the buttons to further dollar weakness. Fed Head, Evans, President of the Chicago Fed, said yesterday that “the U.S. Jobless Rate won’t fall to 6.5% until 2015”. Recall that the Fed set the bogey for the unemployment rate at 6.5%, before they would entertain raising interest rates. Evans went on to say that “the bond-buying program may need to continue for another 6 months to a year until we’re clear the job market outlook has improved.”And my old nemesis. Robert Rubin, believes that the automatic spending cuts that are supposed to go into place on March 1, is a “terrible, terrible piece of legislation.” So, I’ll take it that he’s not a fan of spending cuts. Sure, why not just kick them down the road? I saw a cartoon yesterday that fits here. it’s Uncle Sam standing on the shoulders of children holding up the debt ceiling. While I’m on this road that leads to ruin here in the U.S. the Big Boss, Frank Trotter, sent me this note yesterday, and long time readers know how much I enjoy it when Frank writes. So here’s the Big Boss. “Way back in graduate school our professor, Murray Wiedenbaum – former Chairman of Reagan’s Council of Economic Advisors, noted that government managers are no fools. When asked to make cuts these reductions will not come in the Washington bureaucracy where they work but rather in places calculated to make the most impact on the public who will then call their congressman to demand action. If Social Security were asked for example, cuts would likely come in the number of people staffing the local service windows resulting in a line around the block . . . .We don’t know but it sure feels like that is starting again. I’ve noticed two large Navy ships that had deployments called back at the last minute, calculated no doubt to gain the most publicity and generate talk like – ‘if we make cuts we will be unprotected, fund now and fund more’! Watch for more examples and report back to Chuck. It’s tough cutting spending and the spenders will use every tactic possible to foil the plan.”Chuck again.. Thanks Frank! You know, when I first met Frank in 1981, I used to be told that I was identical to Bruce Willis. Remember “Moonlighting?” Now, stop laughing out loud! It’s not THAT funny!The U.S. data cupboard only has the December Trade Balance to print today. I usually try to match up the Trade Balance with dollar performance the previous month. So. in December the dollar was heading down, and therefore I think we’ll see a narrowing of the Trade Deficit for December. Then There Was This. my friend Scott Pluschau, sent me this, and said he had just come inside from yelling at the Oak Tree, after reading the story. So, he naturally thought of me, yelling at the walls over stuff like this. It appears on CNS News should you want to find the whole story. here are some snippets..“So far this calendar year, the Federal Reserve has bought up more U.S. government debt than the U.S. Treasury has issued.On Dec. 31, the total debt of the U.S. government was $16.4327 trillion and then-Treasury Secretary Tim Geithner announced that the government had hit what was then the legal debt limit. Last week, however, Congress enacted a law to suspend the federal government debt limit until May 18, 2013, and allow the administration to resume increasing the debt.By the close of business on Wednesday, Feb. 6, according to the U.S. Treasury, the total federal debt had climbed to $16.4799 trillion-an increase of $47.2 billion for the calendar year.At the close of business on Jan. 2, the Federal Reserve had owned $1.661 trillion in U.S. Treasury securities. By the close of business on Feb. 6, it owned $1.7172 trillion-an increase of $51.1 billion for the calendar year.”Chuck again. OK.. so why does the Fed need to buy $3.9 Billion Treasury bonds than the debt that has been accumulated? Well, if you ask me, I would say that they are simply greasing the tracks for more deficit spending. But the key thing here is that the Fed is buying more than 100% of our debt at this point. that’s scary!To recap. Draghi threw the euro under the bus yesterday, when he questioned the euro’s strength. So much for doing everything possible to protect the euro, eh? With the euro getting thrown under the bus yesterday, the rest of the currencies drifted throughout the day. This morning the currencies are attempting to rally, but things like the RBA dissing the strength of the A$, just don’t make things easy.. China’s Trade Surplus printed stronger than forecast, and Ireland is getting ready to stand on its own two feet again.Currencies today 2/8/13. American Style: A$ $1.0335, kiwi .8380, C$ $1.0020, euro 1.3415, sterling 1.5780, Swiss $1.0915, . European Style: rand 8.8950, krone 5.5150, SEK 6.4125, forint 217.55, zloty 3.1010, koruna 18.8050, RUB 30.15, yen 92.50, sing 1.2375, HKD 7.7555, INR 53.50, China 6.2347, pesos 12.72, BRL 1.9585, Dollar Index 79.95, Oil $96.08, 10-year 1.94 (finally moved off the 1.99% level all week), Silver $31.16, Gold. $1,671.55, and it’s Friday, so let’s take a peek at the U.S. Dollar Index. click here.That’s it for today. a bad night for our Blues and Missouri Tigers. That’s two losses in a row at home for the Blues. it’s not good when the visitors win in your building. I hope they can turn it around quickly, it’s too short of a season to have problems at home! I’ll be gone most of next week, but will pick the Pfennig back up on Thursday morning. It was a far better night last night, so I’ve got that going for me this morning! And our little Christine is stopping to pick up breakfast sandwiches for the trade desk, so it’s all good! Pitchers and catchers report next week, I truly believe that it should be a national holiday! Thanks for reading the Pfennig, I’ll talk to you next Thursday, and I hope you have a Fantastico Friday!Chuck Butler President EverBank World Markets 1-800-926-4922 www.everbank.com
Is this finally the year for uranium? The Casey Energy Team hasn’t been so excited in quite some time. Why? Because we’re in the process of providing our outlook for 2014 in the next issue of the Casey Energy Report… and it’s looking very good indeed. Granted, 2013 was a good year for our portfolio—we were able to beat all our benchmarks while at the same time taking our initial investments off the table and letting the rest of the shares ride for risk-free gains. But 2014 promises to be even better, as we’re seeing all the stars align for our “big picture” themes… and the companies in our portfolio that are poised to profit. The European Energy Renaissance is alive and well. Even though Russia currently has a stranglehold on Europe’s supply of oil and gas, European nations are not going to sit idly by as Vladimir Putin uses this control to gain more and more economic and political leverage. Remember 2009, when Russia shut off Europe’s gas for 13 days in the dead of winter? Most of the EU countries fervently want to avoid a repeat of that story. But there aren’t too many ways to circumvent Russia. After all, importing oil from the Middle East could be just as risky. The best method, then, is to encourage domestic production at any cost; for companies operating in Europe, this will mean lower taxes and more relaxed regulations. For these companies, the harder Putin squeezes, the better their prospects. The “Next Bakken”—Still an Issue in 2014 2014 could very well be the Year of Putin, which means the Year of the European Energy Renaissance. And the Casey Energy Report is already well-positioned to profit from this ongoing trend of “Putinization” with one of the most exciting companies that we’ve seen in years… a small oil explorer sitting on a 2-million-acre concession in a proven oil-rich part of Central Europe that we call the “Next Bakken.” While we were the first to talk about this company, other analysts recently started to get wind of it and hype it up, leading to a quick doubling in the share price. That development prompted us to temporarily close down the Casey Energy Report to new subscribers while news of the company’s first drill results was still pending. That news has recently been released, and while the stock price dropped on investors’ overhyped expectations, overall it has reacted well. (You should know, by the way, that our “Next Bakken” play is not a shot in the dark. More than 90 million barrels of oil have been produced from this very basin in the past. An estimated 1+ billion barrels of oil reserves are still left in the ground… and with modern technology, such as horizontal drilling, the company is counting on unlocking these reserves.) As we are reopening the Casey Energy Report, subscribers still have the chance to get in—at a good price—ahead of the company’s most exciting developments to date, coming in 2014. And once our “Next Bakken” pick establishes itself as the next big thing in the oil patch, there is no telling how high the shares could go. The New Global Battle for Energy Technology A different theme in 2014 that we will feature prominently in our Casey Energy Dividends (included in all Casey Energy Report subscriptions) is the new global battle for energy technology—the technology to produce oil from difficult-to-access areas. While the world is by no means running out of oil, it’s a fact that the cheap, easy, light crude has been tapped out—that game is done. The new game is called “progress.” And the technology to produce oil from the difficult shale formations or from deposits miles below the ocean’s surface—a technology in which the US happens to excel ahead of most other countries on the globe—is the most valuable commodity in the world right now. This intellectual property is more valuable than anything Google, Apple, Microsoft, and Samsung combined have ever come up with. Countries that have it will be able to keep feeding their industries with energy—those that don’t will be forced to kowtow to those that do. Companies that have it will be able to reward their shareholders with dividends and capital gains—those that fail to adapt will go the way of Kodak, Polaroid, and Blockbuster. In this upcoming forecast issue of the Casey Energy Report, you’ll also find our predictions—based on thorough analysis—on where the most important energy commodities are going in 2014. Will oil be up or down in the coming year? Will LNG change America’s natural gas outlook?