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Sunday, April 30, 2006

Gas Prices
William F. Buckley takes up the subject.
And indignation at oil prices is not intelligently exercised by legislative action. Factors here to be considered are varied.
  • In the past 20 years, profits from oil and gas investment have been lower than the profits from many alternative economic enterprises. Ten percent profit is normal (and normative). Oil and gas investments have tended to run two or three points lower than that ten percent.
  • To effect an increase in supply requires a lot of investment and a lot of patience. Five to ten years, significantly to increase supply.
  • The stranglehold of OPEC is not easily dealt with by normal economic responses, given that it is a politically controlled oligopoly.
  • The causes of significant shortfalls in oil production are often political. Mexico is off on another nationalistic excess. Nigeria is in turmoil, reducing production. Iraq is almost one million barrels a day under what it used to produce. Iran is a day-by-day disrupter. The Saudis, who in the past, have with their huge reserves acted as a kind of federal bank, are needing to do more development.
There isn't anything the U.S. can do - except keep its legislative fingers out of the stew. And open its blinded eyes to the possibilities of nuclear energy.

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Wednesday, April 19, 2006

110th Boston Marathon
In case you hadn't heard, Robert Cheruiyot won Monday's race, setting a course record with his time of 2:07:14. Mr. Cheruiyot is from Kenya. The Americans made a strong showing placing 3-4-5.

Thus begins the World Marathon Majors competition, a 2-year series including Boston, London, New York, Berlin and Chicago.

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Friday, April 14, 2006

Don't Hire This Man
It looks like this youth minister might be out of a job soon - apparently he takes dodgeball a little too seriously.
David M. Boudreaux, 27, was charged Wednesday with one count of third-degree assault. According to court documents, the incident happened in February at Crescent Lake Christian Academy.

Authorities said the teen missed Boudreaux with one throw but then knocked the youth minister's glasses off with the next.

The boy apologized, authorities said, but Boudreaux pushed him backward, and when the teen got up again Boudreaux kicked him in the groin and left.

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