[Off topic: meditation]

Excellent, excellent website.  It's the UCLA Mindfulness Awareness Research Center: marc.ucla.edu

 

This has practical information as well as research. 

Here are guided meditations:http://marc.ucla.edu/body.cfm?id=107

Here are beginning meditations:http://marc.ucla.edu/body.cfm?id=22

 

enjoy

 

+1. Love the UCLA self guided meditation series.

[Railcar Oil Volumes vs. Pipeline]

Just to balance out the discussion:

 

“Increasing volumes of crude oil transported by rail raise questions of safety,” the IEA said in its medium-term oil market report. “Our analysis reveals that compared to pipelines, rail incident rates are higher while the opposite holds for spill rates.”

 

http://www.bloomberg.com/news/2013-05-14/pipelines-spill-three-times-as-much-oil-as-trains-iea-says.html

 

And a different report:

 

Over the past decade, total railroad crude oil spills equal less than one percent of the total pipelines spills. (2002-2012, railroads spilled 2,268 barrels total vs. pipelines’ 474,441 barrels total). 

Last year, the pipeline crude oil spill percentage was 10 times that of the railroads (Rail = 0.00006% vs. pipelines = 0.0005% in 2012).

Over the past decade (2002-2012), the estimated spill rate for crude oil moving by rail was 0.38 compared with the estimated pipeline spill rate of 0.88 (measured as gallons spilled per million barrel miles moved).

 

https://www.aar.org/safety/Documents/Freight%20Railroads%20Safely%20Moving%20Crude%20Oil.pdf

 

Agree with finetrader about imagining a world without pipelines. Impractical to move large volumes without dedicated pipe. That and the optics of pipeline spills are always bad due to the large volumes involved.

[Hamblin Watsa wrong with their thesis?]

If the laws of China were like Quebec laws I'd arbitrage the legislation. I would move in one of the ready to be demolished building at dirt cheap rent and ask for a shitload of money when they ask me to leave :)

 

BeerBaron

 

Doesn't always work out. Tonnes of these nail houses. Like this one - newly built for 600,000 yuan compensated 260,000 yuan when government decided to put a highway right through it.  Classic picture though.

 

http://news.nationalpost.com/2012/12/03/chinese-nail-house-finally-demolished-from-middle-of-highway-after-duck-farmer-agrees-41000-payoff/

[Columbia Value Investing Courses for Spring 2013: Audio Files]

You are awesome Liberty! Thanks for sharing!  ;D