Good week for:
Not much
Bad week for:
1. Tilapia, after a Wake Forest University study found that tilapia, a farm-raised corn-fed fish, actually contains high levels of omega-6 fatty acids (pro-inflammatory) and very little omega-3 fatty acids. In fact, tilapia contains more omega-6 than bacon or doughnuts. I'm still waiting for the transgenic pigs rich in omega-3 to come to market. Yummy and healthy!
2. The Clydesdale, the symbol of American and Anheuser-Busch, after the St. Louis-based company was sold to the Belgian company InBev (makers of Stella Artois and Becks). My first concern is what will happen to the Budweiser Super Bowl commericials. Will they continue???
3. Following your father's lead, after George W. Bush lifted an executive ban on offshore drilling that was put in place by his father in 1990. Just a few years after his "addicted to oil" speech, George just wants another hit of the pipe (forward to about 5 min 30 secs on this video for some laughs). As I've outlined before, the government's own studies have indicated that this manuever would have little effect on the price of oil...we will follow closely. I doubt this will have much of an effect.
4. Humans, after a 149-page scientific report from the government oulined many reasons why global warming will impact health, including an increase in smog (increases risk of death), heat waves, infectious diseases (particularly those carried by ticks), and from wildfires. It's too bad the White House officials didn't even want to read the report...they wouldn't open the email!!
5. The Colonel, after a police-officer's family in Omaha won $40,000 in a lawsuit against KFC because of an episode of severe illness after eating at the fast-food chain. The cause of illness? Employees at this KFC would routinely spit and urinate onto food to create "special servings" reserved for police officers. This hasn't been a good year for KFC. As you may recall, earlier this year a KFC in NYC was shut-down after video taken from the street showed several huge rats crawling around premises.
6. The Bull, after the stock market entered official Bear Market territory (down 2o% from recent highs). Ugghhhh....
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10 comments:
I would like to point out that though you might get your pizza sauce spread with a finger in Omaha, the place to get your KFC pissed on is Sidney, nearly 400 miles away (but still in Nebraska... imagine that you teeny-state people)
Oil prices tumbled 9 dollars a barrel the day W made his announcement for more drilling, but I am sure that is just a coincidence? Oil prices are falling again today, because the US produced 3 million more barrels last month than expected.
But, I am baffled how these things could happen, when people in the know keep telling me that more supply will have no effect on price.
Oh, and the stocks are surging on the good news disappointing America haters everywhere.
Don,
I think Americans are loving the fact that stocks surged today.
As for the drop in oil prices, the price of oil had been in a parabolic move and was due for a correction. Also, the I think it had nothing to do with GW Bush. If that's the case, why did all of the other commodities also get crushed when Bush made this announcement? (look at steel, coal, agriculture, mining stocks, gold).
silly greek gladiators, don't you know that drilling off the continental shelf also produces increased supplies of copper, gold, molybdenum, steel, corn, and everything else? i noticed today that the price for southwest air tickets out to vegas for the second weekend in august also dropped. oh, of course, that's because southwest air tickets are also found in the deep ocean floor recesses off the continental shelf. now i get it, now i understand economics.
I am glad to see Jaewon make an appearance. I know supply and demand is a difficult concept for most socialists to understand, and "due for a correction" argument can't be proven today. I guess the continued plunge is pure coincidence too?
Oh, and if supply and demand have no effect on oil prices....then what has caused the recent spike the past few years?
Just curious.
Don,
I've NEVER argued that the laws of supply and demand do not hold true in this situation. In fact, I've pointed it out several times in the blog previously about how the supply/demand relationship has held.
My only argument against drilling off-shore is that the government's own estimates predict that the supply of oil in the OCS will only lower the price of oil by a neglible amount. It is not a sustainable energy policy. It is something that BOTH GW and McCain said they would NOT persue until just a few weeks ago. The whole manuever is pandering to the public.
When is someone in power going to have the cojones to stress conservation and put in legitimate incentives (at least ones equivalent to the ones that have been given to the oil companies) for alternative cleaner energy?
as a currently transplanted californian, i am proud to say that the gubernator has proven himself to be "someone in power with the cojones" that you refer to, vis-a-vis energy policy. i think he's got it about right, even breaking with many in his own party. go ahh-node.
I really respect Arnold for what he has done for California and for his energy policies.
If he could run for President, I swear I would vote for him.
Anyone who things that one agency speaks for the "government" and/or is infallible is putting his eggs in a basket full of holes.
I just am dubious that all of your charts coalesced the same day, and oil buyers and sellers coincidentally decided to apply lower prices to oil the same day W said we'd finally act like Norway when it comes to oil drilling.
Our energy solutions will come from the private sector. I am just going to fight like the Dickens to prevent soft slavery (i.e. socialism) until then.
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