- In early February the amount of oil in storage in the US, excluding the strategic petroleum reserve reached 417 million barrels.
- Shale oil wells annual production decline more then 50% in their first year while traditional onshore oilfield decline by 5%
- Greece’s oil production in 2013 was 7.500 b/d (barrels per day), Europe’s 3.974.000 and Albania’s 16,870.
Source :Fortune Magazine, eia.
“According to Benedict Evans of Andreessen Horowitz (Venture Capital firm), the new iPhones sold over the weekend of their release in Sep 14 contained 25 times more computing power that the whole world had at its disposal in 1995″
Source : The Economist
- A decision has been finalized for an order between 100 to 120 F-35s, (5th generation fighter) some of which will replace the fleet of F-4 and F-16 aircraft. The F-35s will be used in unison with the indigenous TF-X fighter planned for maiden flight in 2023, country’s centennial as a modern republic.
- Turkish Aerospace Industries (TAI) will continue its design efforts for Gokturk-3, Turkey’s first indigenous SAR satellite. Turkey launched its first high-resolution reconnaissance satellite, Gokturk-2, to space from China’s Jiuquan launch facility in 2012. Construction of a second satellite by Italy’s Telespazio with even higher capabilities, Gokturk-1, is scheduled for launch in late 2014.
- New contract negotiations were also awarded to Selah Makine shipyards for the construction of two logistics support ships,
- Ares shipyards are to build an undisclosed number of SEAL insertion boats, and MTA to procure two propulsion systems for the Turkish Navy’s Ada-class (also known as Milgem) corvettes.
- Negotiation are in progress with China, regarding it’s HQ-9 missile system in the frame of Turkish strategic T-LORAMIDS high-altitude missile defense system.
Founded in 1839 by watchmaker Antoine Norbert de Patek (Jean Adrien Philippe joint as partner in 1845) today is on the last family-owned independent Swiss watchmakers. The 100% of Patek Philippe is owned by the Stern family with Thierry Stern (4th generation, succeeded his father in 2009 ) at the helm.
- it’s revenues are estimated to be $1,2 billion (with a “B”!)
- a new Patek can start at $25.000
- holds the record of a watch sold in an auction ($11 million in 1999)
- production is deliberately limited to 55.000 time-pieces a year (Rolex manufactures 1,4 million)
- to produce a single dial takes 4 months and requires 150 different processes. It takes 1.200 steps to build a single timepiece. Each one is hand-finished.
- Queen Victoria owned an enamel-and-diamond pendant model (the first with a keyless winding stem).
- Pope Pius IX owned several.
- Leo Tolstoy, Albert Einstein, Marie Curie, and Andy Warhol all owned Pateks.
- Eric Clapton is a collector
- a perpetual calendar model peeks out from under the cuff of Vladimir Putin (which could explain his perpetual hope of turning the geopolitical clock back to the Soviet era).
source: Fortune mag, No 8/20014
Security & Defense
- After Russia’s 2008 “successful” campaign in Georgia was decided that the size of it’s armed forces would be cut from 1,2m to about 1m. Today the true figure is more like 700,000. The officer corps was to be slimmed by almost 50% and the creation of well-trained NCOs became a priority
- Military service for conscripts is only 1 year.
- Corruption on the defense sectors accounts for 1/3 of the equipment budget.
- In 2010 a 10-year program worth of $720 billion was launched. By comparison only in 2012 US defense spending was roughly $830 billion although by terms of percentage of GDP, in 2012 Russia outspended oncle Sam by 4,47% Vs 4,35%. The Bear’s defense spending has nearly doubled since 2007 and accounts for over 20% of all public spending.. In 2014, will rise by 18,4%.
- The defense industry remain quasi-Soviet, inefficient and riddled with corruption. Until the T-50 stealth fighter appears in small numbers towards the end of the decade, the main-stay of the air force will remain upgraded SU-27 and MiG-29s that first flew in the 1970s.
- Between 1993-2010, Russia’s population shrank from 148,6 million to 141,9 million (5% drop). Russia in 2014 will be classed 10th/226 in death rate (just above Swaziland-11th). US is 95th whilst Greece is 34th.
- In 2009, life expectancy at age of 15 was more then 2 years below it’s level in 1959, barely higher than Senegal.
- Child abandonment. In 2011, more then 400,000 Russian children below 18 years of age lived in residential care, meaning that almost 1 child of 70 was in an orphanage.
- Between 2001 and 2025, the median age in Russia will rise by almost 2 days every week, from 38,7 years to 42,4 years. Russians 65 and older now makes 13% and in 2025 will compose 19% of the population. By comparison the US will reach this 19% in 2050.
sources: The Economist, Foreign Affairs Mag, CIA factbook, Pew Research Center report.
From the 22 until the 25th of Mai 380 million voters from 28 countries will (have) elect(ed) 751 Member of European Parliament (MEPs)
- The European election is the biggest in the World after India (keep in mind that in China there is no real elections…)
- At some €1,75 billion a year, the European Parliament costs more then the British, French and German national Parliaments put together.
- The EP works with 24 languages
- The MEPs need to work in the places : Brussels, Strasbourg and Luxembourg. All that moving around burdens good old earth with 19.000 tonnes of CO2 per year.
- The EU buildings in Strasbourg are empty for 317 days of the year.
- In 2009 the voting turnout was 43% of the total electoral body.
- Since 1979 MEPs have been elected by direct universal suffrage for a five-year period. Until then, national parliaments nominated the MEPs.
- The country mostly represented is Germany with 99 MEP . In the antipodes, Estonia and Cyprus send 6.
main source: the economist