Yesterday your editor had an appointment in town with the MD of a small Australian oil and gas explorer.
That’s why we weren’t able to grace you with our presence in Money Morning yesterday, although as we’ve noted, Shae more than ably filled in the gap with her article on credit cards.
The company in question was interesting because it was, well, uninteresting. Over the past year or so as editor of Australian Small Cap Investigator, we’ve looked at a lot of energy companies.
We’ve mainly concentrated on the natural gas and liquefied natural gas (LNG).
And in terms of natural gas, we’ve narrowed that down further by looking at unconventional natural gas plays, such as coal seam gas (CSG).
But let’s be honest, over the last few months we haven’t been the only ones looking at unconventional gas and oil stocks. Everyone’s been doing it.
That’s why when we heard from this company, and we heard that they were just doing the ‘conventional’ thing, I thought it was worth taking a look.
And as I’ve been starting to think recently, there are a lot of smaller conventional oil and gas stocks out there that are being overlooked. And this one was no exception. Because investors are looking for something unique, sometimes the easy pickings are ignored.
Unfortunately, due to the tiny market cap and low liquidity it’s a stock I just can’t tip for Australian Small Cap Investigator, not even in the ultra-speculative ‘Radioactive‘ section of the portfolio.
So, for the time being that one just gets added to the watchlist for future reference. If we miss out on a decent return, that’s just the way it is. You can’t back every runner on the market.
But all that’s just an aside. I thought I’d return to the subject of the Copenhagen Conference today given the amount of feedback received into the Money Morning mailbag on Wednesday.
Climate change is obviously a very emotional issue. It’s one of those subjects that most people seem to have one opinion or another. Very few sit on the fence.
Either you believe it or you don’t. And even those that aren’t sure whether it’s real tend to believe something should be done, just to be on the safe side.
That’s one of the great things about the Money Morning mailbag. We write something in an article and before we know it floods of responses arrive. Some agree, some disagree, some ask us to unsubscribe and “stop sending me this rubbish.“
We get all sorts of comments.
It’s a good job we’ve got a thick skin otherwise we wouldn’t last a day in this job. Either that or we’d get intimidated into writing the kind of pap you read in the mainstream press.
But have no fear, that’ll never happen!
Anyway, the most received email we got this week was a link to an interview of Christopher Walter Monckton, 3rd Viscount Monckton of Brenchley by Alan Jones on Sydney’s 2GB.
If you’re interested you can listen to the whole thing here.
What do we make of it?
Well, according to Monckton – sorry Lord Monckton, the Copenhagen Conference is just an excuse for Western nations to create a world government and will result in a massive transfer of wealth from the West to the developing world…
Hold on, don’t go yet. I know what you’re thinking, “conspiracy theory nutbags.” But let me carry this through to the end before you jump to conclusions.
Do we believe what Lord Monckton has to say? Well, it’s hard to disbelieve him when we haven’t seen the document that he claims he’s seen.
Lord Monckton claims he’s seen a copy of the Treaty that all the attendees of the Copenhagen Conference will sign. A treaty that will result in a world government and a huge cost to Western nations. And more specifically, a huge cost to Western taxpayers.
But right there is where we have a problem with Lord Monckton’s claims. Whether he’s right or wrong we’ll soon find out when the Conference Treaty is released.
The problem we have is the same problem we always have when someone claims to have seen a document but fails to produce it.
I mean, let’s think logically about this. If you had managed to get your hands on such a bombshell of a document my guess is you’d do all you could to get a copy of it and distribute it. Or better still, sell it.
Surely even the mainstream press would pay handsomely for such a document.
Think about it, the exclusivity of this so-called document is fairly limited. Within the next few weeks, if it exists, it will be published. For Lord Monckton to claim that he’s seen it but is unable to provide a copy of it, sets alarm bells ringing.
We’re not claiming he’s telling a big fat pork pie, but without producing the document we can’t lend any support to his claim.
But that’s not to say that everything the man says should be completely disregarded. Perhaps a more impressive and more compelling case from him is his argument against Climate Change.
As I’ve mentioned before, I’ve got no idea whether climate change is genuine or not.
Even after I’ve done all my ‘edumacating’ on the subject over the next few weeks, odds are we’ll only be slightly more knowledgeable than we are now. And even that’s not guaranteed!
But regardless of all that, the important thing is to question whatever someone says. Including whatever your editor writes. You can see that many people do that on the Money Morning message board – agreeing or disagreeing with what we write.
That is something to be encouraged. And questioning the science of climate change and the motives of those who believe it and disbelieve it should also be encouraged.
For years former US Presidential candidate failure Al Gore has swanned around the world like a rock star. He’s been wined and dined by presidents and prime ministers. He’s held lavish lunches and dinners costing hundreds or thousands of dollars to attend.
And through all that he’s received very little opposition. The business of Climate Change is massive and so are the pressure groups behind it. Stand in the way of it at your peril.
That’s why the politicians prefer to go with the flow and back him to the hilt.
That’s why there’s very little opposition to what Gore says. Surely it can’t be a good thing for everyone to blindly follow the climate change messiah Al Gore.
That’s why I believe it’s worth looking at something else. In this case it’s something else from Lord Monckton. Again, I’m not saying he’s right. I’ve got no idea whether his arguments are any more valid than those of Gore.
But it’s at least worth checking out what he’s got to say isn’t it? I think so anyway.
After all, I’m always pretty certain that before I read an article by Michael Pascoe or Ross Gittins or Paul Krugman that I’ll disagree with them. But I still read their claptrap. Mainly because it reinforces my own thoughts.
And so after watching Lord Monckton’s presentation to the Minnesota Free Market Institute (MFMI), I’ll admit it did help to reinforce my thoughts.
Not that I blindingly agree with everything he says. And not that I don’t believe in Climate Change. But rather that there is more to the story than governments and pressure groups are letting on. Again, we’re not talking whacko conspiracy theories here, we’re talking logic.
Anyway, if you click here you’ll go through to Youtube where you can view the full one hour and thirty-five minutes from Lord Monckton, the 3rd Viscount ‘Chinless Wonder.’
The point is, if half, in fact if one-tenth of what Lord Monckton says is true about how governments and government agencies have manipulated the data on climate change then this is a genuine bombshell.
Yet as Lord Monckton states in his presentation, we shouldn’t believe him just because he says he’s right. Just as we shouldn’t believe Al Gore and his cronies just because they say they’re right.
But what Lord Monckton’s presentation does provide is a useful counterpoint. Because what we can do as a neutral observer is take both arguments and work out whether each of them is telling some truths or whether each of them is telling some lies.
If we do the research and it turns out that Lord Monckton is manipulating the data then it clearly weakens his anti-climate change argument, and potentially – but not necessarily – strengthens the argument of Al Gore’s camp.
And likewise if it turns out Lord Monckton is right, that data has been manipulated by governments and their agencies then it strengthens his case and weakens that or Gore.
The one fly in the ointment for Lord Monckton’s MFMI presentation is the last two minutes where he brings up the ‘World Government’ theory again. You’d think after all the effort and research he’s put in to try and destroy the claims of climate changers that he could manage to photocopy the so-called treaty that leaders will sign in Copenhagen.
Maybe Lord Monckton is right on both counts. We don’t know. But right now, we’re more impressed with his arguments against climate change (although we’re still neutral) than we are with his arguments about a World Government.
Although, when you consider that it’s taken Europe fifty years to get to the current stage of a European Government, it should be remembered these things don’t happen overnight.
And the idea that politicians and bureaucrats have an urge to club together to control everyone shouldn’t be discounted either.
Anyway, we’ll give Lord Monckton some credit though. At least he’s making things interesting by stirring the pot. And making an attempt to get the corrupt politicians and bureaucrats here and overseas to account for their actions.
While he’s embarked on that real noble cause, we’ll continue with our reading up on the Copenhagen Conference.
Cheers.
Kris.
60-Second Market Round Up
by Shae Smith
The S&P/ASX200 had a pretty ordinary day yesterday, closing down by 9 points to 4,747.90.
Most of the mining stocks closed up. BHP Billiton [ASX: BHP] was up by 1.15% and Newcrest [ASX: NCM] up by 25 points. But the major banks all closed in the red. The employment data for October did little to boost the Aussie market yesterday. Read more here.
On Wall Street the Dow Jones Industrial Average was apparently showing signs of ‘rally fatigue‘ one analyst said. The Dow closed down to 10,197.47, a drop of 93 points. The US dollar strengthened against 14 of the 16 major currencies which added to the decline in commodity prices overnight.
In the UK the FTSE100 finished up yesterday despite the weak open on Wall Street. The index closed at 5,276.50, up by 0.19%.
The Nikkei dropped 0.68%, closing to 9,804.49
The price of gold in Australian dollars is trading at $1,196.06, while in US Dollars it is trading at $1,103.20. And the price of silver in Aussie dollars is $18.67 and in US Dollars it’s $17.22.
The Aussie dollar versus the US dollar is trading at USD$0.9228, and against the Japanese Yen JPY83.38
Crude oil closed overnight at USD$76.76
For the biggest movers on the market yesterday click here…
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Tsk tsk. A torrent of emails and no one actually found the document Monckton was talking about? No wonder this planet is in such a mess, the sheeple stampede in droves and the thinking person is few and far between. I normally enjoy the commentry on this site but in this instance i have to shake my head. Observe, the Framework Convention on Climate Change http://hpbo8.tk, the magical document that seems to have escaped nearly everyone. Granted, this doc was not that easy to find, but 20 minutes of googling turned over the dirty rock it was hiding under. I would assume that such bombshell claims would prompt the writer to at least try to find it. Enjoy, 181 pages of dry UN legal prose, which upon inspection paints the picture of a very dire future indeed. Allow me to draw your attention to page 18, paragraph 38, as im on mobile i cant paste it here for you, but the gist is “the government will be ruled by the COP”. And it doesnt stop there. I am what the chemically lobotomised and thoroughly programmed would call a “conspiracy theorist” and have been aware of the UNs plans for many years, how? I READ THEIR DOCUMENTS. When you’re done with the FCC, read “Agenda 21″. We are truly doomed while people continue to let these control freak eugenicists gradually implement a global tyranny right under our noses. Now is the time to wake up and take a stand, otherwise our grandchildren will live in slavery, if they are allowed to live at all.
Correction, the link is http://hpb8o.tk. Follow me on twitter for more reality.
Thanks, Atomitron.
I have read para 38, a., b., and c.;
It is unbelievable stuff. These mfs do want to establish a whole new government and bureaucracy to tax, police and enforce their idiotic, concocted ideas about how to save the world. Save, my a!se, it look like enslaving it, rather saving it from anything. And worst of all, they will make us pay them for it. And to think that Rudd and Turnbull are both intent to sign this country up for this sh!t is simply unbelievable.
Ditto to all of the above…seek and ye shall find.
Aside from that, Kris, I think you’re a bit confused about climate change…and you’re not alone there. I am not aware of any scientist, in any discipline, anywhere in the world who denies climate change. That’s what climate does…it changes, sometimes with appalling consequences. And I have no problem with spending big dollars on coping with and adapting to natural climate change.
The point at issue here and being debated (finally!) is manmade global warming. The hysteria is being generated by a dodgy set of computer models, the absurd notion that carbon dioxide is a pollutant, snake oil salesman like the Goracle and our own alarmist of the decade Perfessor Flim Flammery and vote grubbing politicians. All of whom flit about the world in their gassy jets, demanding that everybody stop flitting around the world in gassy jets. Why this mindblowing hypocrisy is lapped up by the herd beasts in society is anybody’s guess. But it will make the last great scam (Y2K) look like petty cash.
And it’s being fuelled by a world media which has gone from reporting to barracking.
Memo to Rudd and Turnbull…doing nothing really is preferable to doing something stupid!!!!!!!!!!!!
Atomitron.. I’m with you. I too have known about this for over twenty years. But mention it back then and your laughed at. You are correct in uing the term “sheeple” it goes for 99% (if not more) of the population. Now thry mentioning “Revelation” “Bible” she how many laughs you get…. To us a quote “there is nothing new undwer the sun”.
Sheeple have been, Sheeple are and sheeple will always be.
However, be fair to the writer, he brings it to the forum and it is then open for all of us to contribute and hopefully shed light on the big picture. One man cannot cove it all, but if each of us contribute just a little, as you have done, then the it will build a groundswell of knowledge.
Yes, good point Nick. Bringing this into the public consciousness is the most important thing right now, thanks for covering it Kris. It is encouraging to see Alan Jones talking about it as well, and there was also an article in the australian on the 28th of October I believe. As you would know it is just frustrating that it hasnt fully come to light yet after decades of planning hidden in plain sight. Then we get stuck debating if it is actually happening or not instead of uniting and fighting against it. A few small voices are easily drowned out and silenced, we need a mass outcry but people in general are not one bit concerned. And Cb regarding Rudd and Turnbull, theyre just puppets as always. The script for the agenda is set and they are just acting it out. I bet theyve both been promised handsome posts in the NWO beurocracy when theyre done selling us out.
Yes, you are right. I have been puzzled over why they would do such a thing? Of course!!! They will be benefiting massively from it. Unbelievable.
And, after watching that 4 corners program again, it is as clear as daylight to me that Turnbull and a couple of his mates at the top have jeopardized the Coalition’s anti-ETS stance. The coalition had a clear policy on this issue and were in a powerful position to block Rudd’s plans completely, and possibly turf him out at the next election, but after Turnbull’s recent overseas trip to the UK and wherever, he came out without consulting the party and started saying that he now supports the ETS, so as to prevent giving Rudd the opportunity for a double dissolution trigger, because the coalition will risk losing such an election. This is why a lot of people in the coalition are futious with Turnbull and his henchmen, as is of course the majority of the colalition back bench.
All the same, Turnbull seems to have bullied the Coalition to agree to negotiations with Rudd and Wong over what form the ETS should take, etc. They are so desperate to pass it in a hurry, because they feel that the tide of public opinion is turning against the idea, and they want to rush it in whatever form, even in a watered down form, and pass it, and then they can just tinker with it, and strengthen it bit by bit later on, once a start has been made.
I am actually very pessimistic about it. Given that Turnbull is not representative of the majority will of the Coalition, it is clear that the entire agenda of the Coalition has been hijacked by him and whoever supports him, and it is fortunate that Joyce is heading up the Nationals, so that we at least still have some gutsy people in parliament who are willing to call a spade a spade.
Most disconcertingly, mainstream media seems uninterested in making a genuine issue out of the scam, which in a way should not surprise, but it is most disappointing and depressing to see, anyway.
well said cb… my beleif is that this is a forgone conclusion. Joyce will no doubt put up a good fight but he can easily be “dismantled” by the greater forces at work. The great hope is that people like Joyce can rally up enough emotion in the sheeple to get behind him in time to, at least, give him political clout. Again, I feel that it is a tall order. Unless people REALLY start hurting, they will not even listen, but when they do it will be too late. As for Turnbull, didn’t he want a republic? Why was Costello offered a cushy job by his oposition? what was the payback?
I have constantly used this explanation to the folk who find it dificult to fathom how this really works.
If you want to round up a heard of sheep into the yard ready for slaughter, you don’t go at them yelling “get in” “get in” or they will scatter. What you do is say nothing. Just grab a bucket full of feel (stimulus/easy credit/easy money) and drop a handfull at your feet. Take two steps back. Then do the same over again until you have them, with heads down feeding their faces, and following the feed trail into the yard. Once all are in, shut the gate. Then you’ve got them where you want them…ready for the slaughter.
I have to admit that Turnbull has disappointed me intensely!
He may as well join the ALP now…
One simple google search turned up the document just now. I have been reading excerpts put up on various blogs including Andrew Bolts. When you actually get the whole draft treaty though it is even scarier than you could imagine.
I simply cannot believe that they keep on referring to “Best Science”
continually throughout the text. What they really mean is Science that suits their views supplied to them by the IPCC and the total disregard of dissenting science. If it doesn’t suit their purpose it cannot be true.
And Rudd and Turnbull have bought the whole damn hook line and sinker. The only institutions that will make anything out of this will be the various banks and the COP. Beaurocracy will expand and we will be the muggins that will have to watch our whole way of life and the very standard of living that has been built up be destroyed by this clap trap.
Anyw ay here’s the link I found:
http://wattsupwiththat.com/?s=copenhagen+draft+treaty
Once you have read the treaty….heaven help you it can make your eyes bleed with it’s waffle….have a look at the rest of the site.
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