Monday, May 5, 2008

Hillary steps up...

"We’re going to go right at OPEC," she said. "They can no longer be a cartel, a monopoly that get together once every couple of months in some conference room in some plush place in the world, they decide how much oil they’re going to produce and what price they’re going to put it at," she told a crod at a firehouse in Merrillville, IN

Why do the guys always leave the mess to be cleaned up by the ladies?

My advice to McCain...

Get out in front on this or you are toast.


Bug Cycle

It's time for cicadas to make some noise
Insects will emerge, sing, mate and die

Such is life...

Link to The Tennessean

Ford goes to prison

It is amazing how Demos lose their party affiliation when being sent to prision.

Former state Sen. John Ford of Memphis entered a federal prison today in Louisiana to begin serving a five-year sentence for taking $55,000 in bribes as a state lawmaker.

Oil tops $120 a barrel

US Congress does nothing.........

From USA Today.

The mix of factors that drove oil to its latest record were a microcosm of the forces that have nearly doubled oil prices from their levels of about $62 a barrel one year ago. The dollar weakened against the euro on Monday, attracting investors to commodities, such as oil, which they see as a hedge against inflation. Also, a falling dollar makes oil less expensive to investors overseas. A series of Federal Reserve rate cuts starting last year weakened the dollar considerably against foreign currencies; analysts blame the dollar's protracted decline for oil's sharp rise this spring.

Commodity markets exist to provide orderly market pricing, allowing business people to set future prices based on projected needs and quantities. For example, if a sharp freeze reduces the orange crop the farmer can expect to be paid a higher unit price for his product, thus helping him withstand a loss of volume. Without that banks and other finical institutions would be reluctant to loan money to produce future crops and our food supplies would be at risk.

They were not invented to allow speculators to use them as a means to hedge their currency bets. But that is exactly what is happening in oil.

I called both of my Senators and Congressman this morning noting that if they couldn't do something then I couldn't see me voting for them. Period. Right now Bush has, finally, started pushing, yet the Congressional Demos and the Repubs do nothing.