No Polar Caps?

27/06/08 18:57
Scientists claim that there is better than a 50-50 chance, that the North Polar Cap will melt completely over the course of the summer. Their prediction is based on the amount of “first year” ice that currently exists at the pole. There was extensive melting last year and much of the ice that now exists, was only formed last year. The normal ice pack is built up over several seasons. According to the scientists, satellite data already shows that the existing ice is melting at a rate above that of last year. The fact that much of the ice has not had several seasons to accumulate and thicken, along with warmer than normal temperatures, leads them to their conclusion. Read the story here.

Overall, crude is up 46% so far since the beginning of the year! Oil hit an all time high today at $142 a barrel. The market is being driven purely on speculation, as investors have abandoned stocks and turned to commodoties. The stock market took another nosedive today and was down over 100 points in a second straight day of significant losses. The dollar is faltering and gold continues to increase in value as people look to “hard” investments. Read the story here.

The nations of this world have become so closely intertwined financially, that what affects one country, causes problems around the globe. Global markets are faltering...how long before global regulation comes to pass? Read the story here.

Until next time...