The Oil Drum: Canada

Early last year, then NY Governor Pataki (R) who had presidential ambitions at the time, touted ethanol as part of his sustainable energy plan for NY State. Since then much of the world has seen as corn ethanol has major sustainability problems of its own. That's not to say that biofuels or even some types of ethanol might not play a role, but it just shouldn't be the centerpiece of a sustainable energy plan.

And it seems that NY's new Governor Spitzer (D), an openly peak oil aware governor has figured this out too. See a PDF of Spitzer's full speech here.

"Amid the recent rallies in equity and bond markets, the yield curve's inversion has received scant media attention," New York-based DBRS analysts David Roberts and Tobias Moerschen commented.

"Most observers seem to have moved on, as the potentially worrying yield curve signal seems at odds with the ongoing economic expansion."

However, the DBRS study warns that the yield curve is a forward-looking indicator, pointing a year or so into the future.

"Moreover, the persistence of the U.S. yield curve's inversion strengthens its predictive power."