Environment

Submitted by Ryan Opsal via OilPrice.com,

The South China Sea is continually paraded as a region rich in oil and gas deposits; however, no one really knows what’s there with any degree of accuracy. Furthermore, these possible deposits are shrouded in conflict that will not abate anytime soon, and will most likely worsen with an intensification of the security competition between China and the United States along with its regional allies, which is tightly related to these disputes.

Led by a 4.3% collapse in Germany's DAX index, European Stocks plunged 2.5% today which is the worst start to a year ever. European credit markets spiked higher in risk. 10Y bund yields tumbled over 6bps and peripheral sovereign risk spreads jumped 10-15bps. Not a good start for Draghi and his pals...

Germany led the collapse...

Which has driven Stoxx 600 - the broadest European stock index - down over 2.5% for its worst start to a year ever!!

Charts: Bloomberg

Nestle Waters North America is under investigation by the US forest service. The world’s largest food company has applied to renew its bottling operations permit in southern California’s San Bernardino National Forest. According to reports, the US forest service has begun an environmental review of Nestle Waters North America’s bottling operations in drought stricken southern California. The company is allowed to operate while awaiting the result of its permit renewal.

An anti-government armed militia group have taken over a federal building in Oregon on Saturday afternoon, led by Ammon Bundy, a rancher from the local area.  Authorities are monitoring the situation as the group continue to occupy a remote federal wildlife refuge operated by the United States Fish and Wildlife Service. The groups leader, Ammon Bundy, is a well known anti-government activist whose father inspired a standoff between local armed militia groups and federal officials who sought to confiscate illegal cattle grazing in 2014.

Since we first highlighted the potential for a "catastrophic event" in Missouri three months ago, there has been little mainstream media coverage. However, as Claire Bernish via TheAntiMedia.org notes, residents near the smoldering fill have expressed increasing frustration with the quarreling agencies offering few answers for an increasing number of health issues, like asthma.