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#1 Re: Not So Free Chat » Current Gasoline/Petrol Price$ » 2008-04-22 23:42:20

Oil, dollar set records as U.S. stocks slump
GLOBAL MARKETS

Oil surged to a fresh high above $119 a barrel and the dollar slumped to new lows Tuesday, reigniting U.S. inflation worries and underlining the weak state of the world's biggest economy.

The surging oil prices darkened the mood on Wall Street, fueling concerns about how higher energy costs will affect consumer spending the corporate profits.

U.S. and European equity markets also tumbled as several big U.S. companies lowered their profit outlooks due to slowing economic growth, with McDonald's Corp (nyse: MCD - news - people ) reporting its first monthly decline in five years in sales at established restaurants.

U.S. crude oil hit an all-time peak of $119.74, boosted by a jump in demand last month from China, the second-largest energy consumer, and supply worries from key producers Russia and Nigeria.

The euro rose above $1.60 for the first time since its 1999 inception as expectations rise that the European Central Bank's next move may be a hike in benchmark interest rates to curb inflation.

In the United States, the housing market continues to struggle, with the pace of sales of existing-home falling in March while inventories swelled and prices slid, the National Association of Realtors said in a report.

U.S. government debt initially eased on the housing data, but long-dated U.S. Treasuries later rose as the weak stock market revived some of the allure of safe-haven bonds.

Microchip maker Texas Instruments (nyse: TXN - news - people ) said its second-quarter earnings would be weaker than expected due to an uncertain economic situation as it cited customer caution and weak demand for high-end cell phones. The company's shares fell 6 percent.

Health insurer UnitedHealth Group Inc (nyse: UNH - news - people ) posted lower-than-expected quarterly profit and slashed its full-year earnings forecast. Its shares fell almost 11 percent.

"People are looking at (earnings) outlooks. They're worried about the economy. I think you need to see outlooks pick up, and that will help the market come back," said Giri Cherukuri, head trader at Oakbrook Investments LLC in Lisle, Illinois.

The Dow Jones industrial average fell 133.21 points, or 1.04 percent, at 12,691.81. The Standard & Poor's 500 Index declined 15.47 points, or 1.11 percent, at 1,372.70. The Nasdaq Composite Index fell 39.93 points, or 1.66 percent, at 2,368.11.

European shares fell for a second consecutive day, led lower by banks after Royal Bank of Scotland (nyse: RBS - news - people ), Britain's second-largest bank, unveiled a record rights issue to cover increased write-downs on the value of assets.

The pan-European FTSEurofirst 300 index closed down 0.6 percent at 1,304.56 points.

RBS's 12 billion pound ($23.70 billion) rights issue will be the biggest ever, and the bank also said it would sell assets to generate 4 billion pounds in core capital this year to repair one of the sector's most stretched balance sheets.

"This indicates that the crisis is not over yet and that we may see further surprises," said Carsten Klude, chief economist at M.M. Warburg in Hamburg, Germany.

"The risk that profit forecasts are too high prevails. Especially forecasts for the second half of the year are still too optimistic," he said.

RBS shares fell 3.9 percent

In Asia, Japan's Nikkei stock average declined 1.1 percent, weighed by autos and falling financial stocks on worries about the U.S. banking sector.

World stocks on a MSCI measure were down 0.33 percent at 382.69.

Gold futures in New York climbed as a weakened dollar and record crude oil prompted buying. Hawkish comments from European Central Bank policy-makers lifted the euro and gold's appeal as a hedge against the falling U.S. currency.

The dollar fell against major trading-partner currencies, with the U.S. Dollar Index down 0.52 percent at 71.292. The euro rose 0.53 percent to $1.599, after touching $1.6018. Against the yen, the dollar was down 0.48 percent at 102.74.

U.S. spot gold prices rose $8.70, or 0.95 percent, to $922.50.

The comments from ECB officials supported the view that benchmark rates in the euro zone are not likely to come down soon.

Rising inflation stemming from soaring food and energy prices came firmly into view as U.S. crude oil hit a historic high. This gave added impetus to inflation-busting talk from ECB policymakers, determined to contain the impact of rising prices.

U.S. Treasury debt prices were mixed. Gains in longer-dated debt were limited by an unexpectedly mild slide in March home sales, which added to doubts that the Federal Reserve would continue cutting interest rates aggressively.

The news weighed on shorter-dated Treasuries and a heavy slate of government bond auctions added to the pressure.

The benchmark 10-year U.S. Treasury note was up 6/32, with the yield at 3.7043 percent. The 2-year U.S. Treasury note was down 1/32, with the yield at 2.1804 percent. The 30-year U.S. Treasury bond was up 17/32, with the yield at 4.4604 percent

#2 Re: Space Policy » Glenn Criticizes Bush Space Plan - says direct-to-Mars is the way to go » 2008-04-12 12:29:56

Shuttle successor flawed, dangerous, GAO report finds

http://www.orlandosentinel.com/news/spa … 9196.story

Constellation program -- the successor to the aging space shuttle -- faces critical problems and might never work as intended, according to a congressional report set for release today.

The report by the Government Accountability Office, the investigative arm of Congress, ticks off a list of difficult issues, especially with the Ares I rocket, which it said is prone to violent shaking on liftoff and might not have enough power to reach orbit with a capsule full of astronauts.

In fact, according to GAO, the whole project is dogged by such "considerable unknowns" that it is doubtful whether NASA's request for an additional $2 billion during the next two years will be enough to overcome design flaws and speed its development for a first liftoff before 2015.

"We do not know yet whether the architecture and design solutions selected by NASA will work as intended," says the 20-page report, obtained Wednesday by the Orlando Sentinel. It will be presented today at a congressional hearing that is taking a critical look at NASA's plan to return astronauts to the moon by 2020.

The GAO identified several areas that could delay Constellation:

*The Orion crew capsule is too heavy for Ares' lifting capacity. "Both the Orion and Ares I vehicles have a history of weight and mass growth," the report says.

*Ares is subject to excessive vibration, called thrust oscillation, which has the potential of shaking the spacecraft to pieces, killing anyone aboard. NASA claims to have a fix for this problem, which was previously reported.

*So far, no company is capable of producing a heat shield big enough to protect the Orion capsule when it re-enters Earth's atmosphere. Proposals to use thermal tiles like the ones on the shuttle are still in the design stage.

*"According to NASA, at this time, existing test facilities are insufficient to adequately test the Ares I and Orion systems."

In effect, the report says, NASA has a design for the Constellation project -- but as yet there is no assurance that all the components will work as planned.

The criticism comes at a crucial time for the agency. NASA must finish the international space station before it retires the space-shuttle fleet in 2010, while at the same time developing new spacecraft that can go to the moon and possibly Mars. The pressures are proving difficult to manage.

The report and the hearing come two days after an announcement that more than 8,000 workers nationwide -- including 6,400 at Kennedy Space Center -- could lose their jobs when the shuttle era ends.

Several lawmakers have attacked NASA for not planning the transition better. Of particular concern is the five-year gap between the retirement of the shuttle and the first planned Ares launch in 2015. During that time, NASA will have to pay Russia to launch American astronauts to the space station.

#4 Re: Space Policy » Space fairing Nations - The ever changing view » 2008-03-31 13:04:18

Louis, I wouldn't exactly call the British a space faring nation since their rocket program which once romanced the Australians is now dead and they depend on the French, Russians or Americans to get their payloads into orbit. The British Empire is also dead or dying a slow death and thankfully the days of the Brits barking their orders at the world are long behind us. The reason why Russia's Soyuz is doing so well, is because it is a great rocket, it launches commercial payloads and we've got this thing in the world called free-trade which allows other nations to compete in the industry.

#6 Re: Space Policy » President of India calls for joint - US/Indian habitat on Mars by 2050 » 2008-03-13 05:01:05

Space plans get major thrust
BS Reporter / New Delhi March 03, 2008

India’s space research programme will see greater focus on manned mission initiatives and human space flights during 2008-09.

Signalling the importance of high-end research, Finance Minister P Chidambaram has increased the Budgetary allocation for space research programmes to Rs 4,074 crore, a 23.8 per cent increase over 2007-08.

As much as Rs 1,588.48 crore of the allocation is earmarked for launch-vehicle technology, including the development of Geo-Synchronous Satellite Launch Vehicle (GSLV) and manned mission initiatives.

The government has allotted Rs 100 crore, compared with Rs 2.5 crore in 2007-08, for the development of a fully autonomous manned space vehicle to carry a two-member crew to a distance of 400 km into space.

Another major area that has seen a huge jump in Budgetary allocation is special indigenisation and advance ordering of space research-related products.

The government has proposed to provide Rs 350 crore, as against Rs 13.95 crore in 2007-08, to the Indian Space Research Organisation (ISRO) to interface with the domestic industry to develop various electronic components, materials and chemicals for the space programme. The scope of the scheme also includes procurement of certain long lead and critical items for futuristic missions.

The government has also proposed budgetary support for the plans of the Department of Space to strengthen the National Natural Resources Management System for ensuring optimal management of natural resources by integrating information derived from remote sensing data with conventional techniques.

The plans for developing a semi-cryogenic engine that uses kerosene and liquid oxygen as fuel and oxidiser for future advanced launch vehicle are to also make progress during 2008-09.

The Budget also provides funds for Chandrayaan 1, Indian lunar mission meant to prepare three-dimensional atlas of regions of scientific interest of the moon and chemical mapping of the entire lunar surface for various elements.

Chandrayaan 1 is targeted for launch during 2008 on board the PSLV.

#10 Re: Interplanetary transportation » Automated Transfer Vehicle (ATV) - ESA ISS cargo carrier » 2008-03-08 21:54:06

[url=http://wenatcheeworld.com/apps/pbcs.dll/article?AID=/20080308/NEWS02/974756089/-1/NEWS03]ATV article here
(also puts an alarmist spin on NASA's space gap)[/url]

On Saturday night, a European spacecraft is scheduled to blast off from French Guiana on its maiden voyage to the international space station, giving NASA and the world a new way to reach the orbiting laboratory.

For NASA, however, the launch of the Jules Verne also highlights a stark reality: In 2 ½ years, just as the station gets fully assembled, the United States will no longer have any spacecraft of its own capable of carrying astronauts and cargo up to the completed station, in which roughly $100 billion is being invested.


I think let's see the ATV launch successfully first before we starting ringing any alarms about Europe, Russia etc challenging NASA's dominance

#11 Re: Space Policy » US reliance on Russian access to space » 2008-03-08 10:02:11

Soyuz will be there, I don't really see it as a threat, addiction, reliance as some people pointed out. The US should see Soyuz launches as support as it goes through the transition from one program to another. If people start panicking or rushing because of some boogeyman the job might not be done correctly

COTS sounds like a nice idea but they are over hyped by the US media, and just because they are private won't mean they are automatically sucessful. I remember the media calling one rocket failure a successful voyage into space, even though they lost the payload.


Enough to close the gap? Enough to give more cash in the COTS contracts to get a commercial crew vehicle?

As some newmars people already pointed out much of America's military Sats already depend on launch from Russian tech, Atlas rockets use the Russian-designed and built RD-180 engine and some congress members would love to axe the rockets because of this. Other US commercial payloads have been lifted on European rockets, soon a Moon probe will be launched on an Indian rocket...get the picture ?

#12 Re: Space Policy » Outsourcing US exploration of the Moon/Mars to foreigners. » 2008-03-08 09:54:33

India can be an equal partner in space: Boeing

Angry Boeing Supporters Target McCain
http://ap.google.com/article/ALeqM5g8dw … QD8V9AE100

Angry Boeing supporters are vowing revenge against Republican presidential candidate John McCain over Chicago-based Boeing's loss of a $35 billion Air Force tanker contract to the parent company of European plane maker Airbus.

There are other targets for their ire — the Air Force, the defense secretary and even the entire Bush administration.

#14 Re: Not So Free Chat » Did Iran become a player in space ? » 2008-03-06 07:29:38

They tested an IRBM not a satellite launcher and I can see why this would alarm some people

Let's hope the October surprise isn't a test of Plutonium detonation

#15 Re: Interplanetary transportation » COTS - status » 2008-03-06 07:27:59

I.E. Griffin tries to pump money into withering AltSpace companies in return for meaningless stuff.

You really think the communities are being so dishonest ?

#16 Re: Space Policy » Space fairing Nations - The ever changing view » 2008-03-04 01:03:27

The clock is ticking away towards the launch of SA's space agency
http://www.engineeringnews.co.za/articl … _id=127346
The fact that the creation of a South African Space Agency is now only a matter of months away is attracting international interest, including proposals for technological cooperation, to this country. "Word has gotten out that South Africa is very keen on putting together a space agency," reports Department of Science and Technology (DST) Space Science and Technology Manager Dr Val Munsami, "and people, internationally, are approaching us, in terms of becoming partners on new generation satellite programmes, so these are opportunities. We are targetting a number of international partnerships, in terms of being able to build competencies here."

#17 Re: Not So Free Chat » Oil Prices Surge to Record Heights - 90 US Dollars » 2008-02-28 14:53:42

Gold futures soar to record on weak dollar, inflation fears


http://ap.google.com/article/ALeqM5jND4 … gD8V3G0500
Gold prices trekked higher Thursday, touching a record $970 an ounce as an inflationary combination of high oil prices and a falling dollar pointed investors to the relative safety of precious metals.

Other commodities traded mixed, with silver extending its highest gains since 1980 and wheat futures retreating further from record territory.

Soaring oil prices, a weak dollar and growing worries that the U.S. economy is sliding into a recession have fed investor appetite for gold, which traditionally is seen as a safe haven from inflation and economic uncertainty because it's known for holding its value. Gold rose nearly 32 percent in 2007 and has gained more than 13 percent so far this year.

Also weighing on investors were comments Thursday by Federal Reserve Chairman Ben Bernanke, who told Congress in a second day of testimony that rising inflation was complicating the central bank's job. Bernanke hued to his message that the Fed stands ready to lower its benchmark interest rate to boost the economy, putting further pressure on the dollar and boosting the allure of precious metals.

"You have an almost perfect storm for a bull market in precious metals," said Michael Gross, analyst with OptionSellers.com. "Bernanke's on television and he's pretty much saying the Fed is going to continue to cut rates, and that's really pressuring the dollar and fueling the bullish fire for gold and silver."

Lower interest rates can boost the economy but tend to depress the dollar, encouraging investors to shift funds into hard assets like precious metals and other commodities.

Gold for April delivery added $5.70 to fetch $966.70 an ounce on the New York Mercantile Exchange, after earlier touching an all-time high of $970 an ounce.

Other precious metals also rose. Silver for March delivery added 49 cents to $19.70 an ounce after rising to a 28-year high of $19.845. Nymex copper surged to a record $3.8965 a pound before easing back to $3.87 a pound, still up 3.2 cents.

The dollar's steep decline against the 15-nation euro has been a major driver behind gold's advance from less than $650 an ounce in January 2007. The dollar traded lower Thursday versus the euro, which fetched $1.5197.

The falling dollar has also given a boost to crude prices, which rebounded Thursday as the prospect of lower interest rates brought an influx of fresh investment capital to the oil market.

Light, sweet crude for April delivery rose $2.56 to $102.20 a barrel on the New York Mercantile Exchange after rising to a new record of $102.35.

Other energy futures also rose Thursday. March gasoline futures added 0.27 cent to $2.4804 a gallon, while March heating oil futures rose 4.71 cents to $2.8182.

In agriculture markets, wheat futures plummeted in an erratic session, falling further from record-highs reached in recent days.

Wheat for May delivery dropped 73.5 cents to $11.765 a bushel on the Chicago Board of Trade, after earlier rising as high as $12.45 a bushel. Wheat hit an all-time high of $13.495 a bushel on Wednesday.

Other agriculture futures rose Thursday, with soybeans breaching the $15 a bushel mark for the first time. Soybeans for May delivery jumped 25.25 cents to fetch $15.005 a bushel on the CBOT, after earlier hitting a record $15.06 a bushel.

http://afp.google.com/article/ALeqM5i17 … yUoB_iXr1w
The dollar plunged Wednesday to another record euro low thanks to a stream of negative US data, while the tumbling greenback helped crude il and gold prices hit historic highs, analysts said.

The US currency also slid ahead of US Federal Reserve chief Ben Bernanke's testimony before Congress later Wednesday, when he is expected to signal further rate cuts to try to prevent a recession in the world's largest economy.

In early European deals, the euro touched a record 1.5088 dollars, after smashing through the 1.50 barrier for the first ever time on Tuesday. It later stood at 1.5048 dollars, from 1.4979 dollars in New York late on Tuesday.

Against the Japanese currency, the dollar fell to 106.41 yen from 107.24.

In commodity markets, renewed US currency weakness sent gold prices surging to a record peak of 964.99 dollars per ounce, while New York crude oil hit an all-time pinnacle of 102.08 dollars a barrel.

The weak US currency boosts prices of dollar-denominated raw materials because it makes them cheaper for buyers using stronger currencies, which tends to encourage demand, traders said.

"The euro is trading above 1.50 against the dollar for the first time since the eurozone came into existence in January 1999," said Global Insight economist Howard Archer.

"This is primarily a consequence of the dollar being undermined by further weak US data heightening concerns over the US economy and reinforcing expectations of additional interest rate cuts by the Federal Reserve."

Analysts said the euro was boosted by the prospect of favourable interest rate differentials between the eurozone and the United States.

Speculators generally prefer to invest or hold currencies in countries where interest rates are rising or expected to rise in the hope they can increase their potential returns.

Soaring oil prices have diverted petro-dollar revenues into the strengthening European single currency, according to ABN Amro analyst Melinda Smith.

"In addition to the fresh widening in interest rate differentials, one of the key drivers of this move appears to be the surge of oil prices as petro-dollars are channelled into the euro," Smith said.

On Tuesday, the euro had blasted past its previous record peak of 1.4967 dollars that was set on November 23, 2007, to reach as high as 1.5047 dollars.

The single currency got a boost from a better-than-expected German business indicator, which stood out amid a series of lacklustre US reports.

The Conference Board private research group of the United States said its consumer confidence index dived to 75.0 in February from 87.3 in January, when it had also fallen.

US wholesale inflation meanwhile hit a stronger-than-expected 1.0 percent in January due to rising food and energy prices. Stock markets fear that growing price pressures will limit the scope for further aggressive US interest rate cuts.

This year, the dollar has lost considerable ground against the euro amid a US housing slump and a credit crunch sweeping financial markets.

In Europe on Wednesday, the euro changed hands at 1.5048 dollars against 1.4976 late on Tuesday, at 160.12 yen (160.60), 0.7572 pounds (0.7538) and 1.6086 Swiss francs (1.6104).

The dollar stood at 106.41 yen (107.24) and 1.0688 Swiss francs (1.0752).

The pound was at 1.9895 dollars (1.9867).

Later Wednesday on the London Bullion Market, the price of gold stood at 959.73 dollars an ounce from 937.75 dollars late on Tuesday.

#18 Re: Interplanetary transportation » Automated Transfer Vehicle (ATV) - ESA ISS cargo carrier » 2008-02-27 12:59:13

No cIclops your nationalism is showing once again, it is also typical American speak. Delta IV's first launch its heavy launcher was a "partial failure" Atlas V had a very recent one rated "partial failure", numerous of the OV1 sat launches were classed as "partial failures". The reason why they use the term  partial failure is because the mission wasn't a total loss aka the US Navy's Flopnik or SeaLaunch Jan07
I'm glad to see more space agencies launching manned support vessels, the ATV spaceship looks good. The ariane might have a coloured record but I think it should do well this time. As for these flag wavers cheering that Ares-1 will be the best launcher ever, well I guess we will see how good it goes soon enough.

#19 Re: Space Policy » Primary space politics » 2008-02-27 11:26:38

Nader has returned; the question is why?
http://www.silive.com/columnists/lacy/i … xml&coll=1

Just like Ross Perot cost George H. Bush a second term will Nader cost the Dems ?

#20 Re: Space Policy » Glenn Criticizes Bush Space Plan - says direct-to-Mars is the way to go » 2008-02-27 11:19:18

Unfortunately I think NASA will take a sideline for more 'important issues' like  HealthCare, Politics, Economics, Iraq etc
People will also be more concerned about a sliding dollar and the recent trend of rising oil prices


If CEV proves to be a slightly overgrown Soyuz, with fancy new computers and a sleek sexy shape but unable to move significant mass to LEO; and

If all shuttle derived infrastructure is left to rot;

come 2025 or 2030 we will be starting from scratch, even if some astronauts spend a few weeks or months living in tents on the moon.

I know there are many who are NOT fans of Ares-I. What are the chances of the next US President supporting a Direct-to-Mars style program ? McCain might back Mars and he sounds like the kind of guy who wouldn't take no for an answer.

#21 Re: Interplanetary transportation » Nuclear Thermal Rockets (NTR) » 2008-02-24 19:15:15

GCNRevenger, Ciclops, AustinStanley
I was wondering is there any way to make safer an NTR which doesn't reach orbit. I'm thinking inline with context of the US Navy ASAT test, if the NTR gets stuck in a decaying orbit
Then what to do ?
- would you send up a craft with more propellant or an ion drive to push it away from Earth
or could you simply 'blast it' with a kinetic interception like those ASAT tests and make it 'safe' ?

#23 Re: Interplanetary transportation » Nuclear Thermal Rockets (NTR) » 2008-02-23 07:58:16

I think Nuclear propulsion could open up a whole new ear of exploration but here are the problems I see and that is Nuclear Thermal Propulsion is too costly, NEP too complicated and too fat, GCNRs  too dirty. Don't think any civilian population will be too keen on living near one of these.
Gas Core's radioactive exhaust is a huge PR turn off.
So what happens when the rocket blows up during launch, of course they may not be enough fissile material but you can be sure there will be a media frenzy about a dirty bomb.

#24 Re: Interplanetary transportation » Automated Transfer Vehicle (ATV) - ESA ISS cargo carrier » 2008-02-22 11:40:37

Joint ESA/Russian team in Moscow ready to support Jules Verne
http://www.esa.int/SPECIALS/ATV/SEM30E3CXCF_0.html

It's had four launch failures out of 36 attempts, it's flight record is far worse than Shuttle.

Much more reliable than the Delta-3, or the over-rated Falcon that the US media keeps dishing out heaps of praise for
and we will see how good Ares-1 goes.
Early history is not good but I know one of its failures was reported incorrectly - it was only a partial failure. Its satellite was put into the wrong orbit but by way of its ion drive the satellite was able to adjust its orbit to the correct position. Yet the media still reported the launch as another Ariane disaster

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