Pickens' Own Energy Funds Down $1B

Boaz Weinstein is an aggressive trader who once lost $2B, too

(NEWSER) - Credit (or blame) Boaz Weinstein—a 38-year-old hedge fund trader known as a "monster" for his aggressive, risky style—for the $2 billion takedown of JPMorgan, reports the New York Times . Weinstein, a chess master and big-time Las Vegas gambler, isn't talking, but numerous other traders say he is the one who noticed something amiss in the credit derivatives market last November, spotting a particular index trading out of line in a market it was supposed to track. Weinstein and his team at Saba Capital Management did not know JPMorgan and the trader Bruno Iksil were on the other side; all Weinstein knew was that the other side kept selling, so he kept buying. More»

Weirdest entry on list: digital picture frames

(NEWSER) - You're probably spending $100 per year on energy costs for devices that are plugged in—even if they're switched off, an EPA spokesperson tells Mother Jones . She lists six of the worst offenders you should consider unplugging first if you want to save energy—and cash:

• Cable boxes: Yes, these seemingly innocent devices suck up a lot of electricity , about as much as your refrigerator. If you can't bring yourself to unplug it, at least ask for a multi-room box so you can use just one for all your TVs.
• A/V equipment: Worried your DVD player or iPod docking station will forget what time it is when you turn it off? Many Energy Star-approved devices will remember what time it is, so try using those instead.

Unarmed drones will watch over Persian Gulf

(NEWSER) - Iraq is looking to America to help it monitor its oil interests—sort of. The country is buying unarmed surveillance drones from the US that will scour Iraq's Persian Gulf waters, which Iran has spoken of blockading in the past and which the majority of Iraq's oil exports flow through, USA Today reports. There's no word on how many drones it's buying, or at what cost. Iraq's oil production has jumped from 2.5 million barrels a day before the US invasion to 3 million today; it's aiming for 10 million within six years. More»

...Not that there was any fracking going on

(NEWSER) - Vermont became the first state in the union to ban fracking yesterday, in what would be a landmark moment if any fracking were actually going on there. There was no drilling taking place in Vermont, no plans to drill, and no indication that there was even gas to drill for, the Burlington Free Press reports, but activists and progressives celebrated anyway. "This is a big deal," Gov. Peter Shumlin said after signing the ban. "We don't know that we don't have natural gas in Vermont." More»

Study finds air around wind farms 1.4 degrees warmer

(NEWSER) - From the damned-if-you-do department: A new study has found that wind farms, those environmentally friendly sources of clean, renewable energy, could be contributing to global warming, reports the Telegraph . The problem is that the giant propellers cause the air to circulate more. That means that during the night warmer air from higher up in the atmosphere is pulled down to mix with cooler ground temperatures. The net effect is higher temperatures. More»