The Makro Outlook - Part One

Bernstein research issued a report last week saying that if oil prices remain low, it could touch off a wave of sovereign defaults. Governments like russia, catar and coet, which depend heavily on income from oil exports, are particularly at risk. Senate minority leader harry reed and senator angus king have filed senate amendment 31 20 to prevent state regulators from trying anything like that again. The amendment would add language to purpa, the landmark 19 78 law, requiring state regulators to include benefits of distributed solar in any changes to net metering valuations.