Posts Tagged “crude oil”

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  • The bailout of federal mortgage giants Fannie Mae and Freddie Mac could top out at $25 billion, according to a top Congressional analyst.  Sometimes it’s easier to express huge numbers like that in ways that make sense to us–like 3 months of the war in Iraq…
  • Barack Obama continued his overseas tour in Jordan Tuesday, where he said he would work for a breakthrough in Israeli-Palestinian peace negotiations, "starting from the minute I’m sworn into office".  I can’t wait to hear the "flip-flop" comments should he decide to make an inauguration speech instead…
  • The Senate voted overwhelmingly to move ahead with legislation that would attempt to curb speculation in oil markets–which many have blamed for today’s $4-a-gallon gas.  However, it’s far from certain that the actual bill will pass–and I can hardly imagine the speculation on that…
  • It’s officially Hurricane Dolly now, and at press time had escalated to a Category 2 storm as it moves onto the Gulf coast headed for Brownsville.  Flooding is almost a foregone conclusion, and already at least one tornado has been spotted that has spawned from Dolly–everything really is bigger in Texas…
  • Detroit mayor Kwaame Kilpatrick, already under fire for allegedly lying under oath about an intimate relationship with his former chief of staff, is now being accused of exchanging romantic text messages with addtional women. Considering the alleged affair was discovered by text messages he sent that woman, this guy makes Eliot Spitzer and Bill Clinton look like geniuses…
  • Speculation is heating up that John McCain has picked his vice-presidential nominee and could name them within the next few days.  That it would occur during Barack Obama’s weeklong trip to the Mideast and Europe is just a happy coincidence–right?
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  • Saudi Arabia’s information and cultural minister says his nation will call for a summit between oil producing countries and consumer states to talk about the spike in oil prices, for which the minister says there is no justification.  That’s encouraging, but sounds like diplomat-speak for "don’t blame us–it ain’t our fault"…
  • Presumptive presidential nominees Barack Obama and John McCain traded barbs over the economy yesterday, with Obama working to tie McCain’s policies to what many see as President Bush’s failed initiatives, and McCain claiming that Obama’s plan to end Bush’s tax cuts would only worsen the economy.  In other words, it’s a "my tax cuts can beat up your tax cuts"…
  • The new Apple iPhone introduced by CEO Steven Jobs yesterday will be faster, cheaper and have more bells and whistles than the inital model’s debut a year ago.  Unfortunately, it will also require an $800 software upgrade about 30 days after purchase…
  • Chemical giant DuPont says it will launch a study into why workers at their West Virginia plant appear to be getting a rare form of cancer at a faster rate than normal.  Company executives insist it is a coicidence, just like the orange-colored tint given off by the plant’s graveyard shift…
  • The Supreme Court agreed to hear a civil case against tobacco giant Phillip Morris for the third time, after twice rejecting a lower court decision.  Maybe one of the attorneys has a thing for Ruth Bader Ginsberg…
  • Baseball great Ken Griffey Junior hit his 600th career home run yesterday, becoming only the sixth player ever to reach that mlestone.  That list includes Barry Bonds and Sammy Sosa, so you could say Junior is the fourth player ever to reach that milestone on his own…
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  • Democratic Congressional leaders say they will pressure uncommitted superdelegates to make their candidate choice public by next week, so campaigning can focus now on who the nominee will be.  Meanwhile, Hillary Clinton has her advisors working on how to postpone the general election until next spring…
  • The Texas Supreme Court ruled yessterday that the state’s Department Of Family and Protective Services had no right to take more than 400 children from a polygamist compound, which should reunite most of them with their families.  It’s a lesson we learned from Richard Simmons–just because someone is freakishly bizarre, it doesn’t mean they’re bad…
  • Federal commodities regulators say they have been investigating crude-oil trading the past six months with a focus on possible "futures market manipulation".  Who wants to bet it will lead to finding Ross Perot in a room on a telephone, saying, "Listen buddy–I’m sellin’ premium in a regular world here…how much you want?"…
  • Former US attorneys from both parties have told a federal judge in a friend-of-the-court brief that they agree that Congress can demand documents and testimony from President Bush’s aides in their investigation of claims that US attorneys were fired for political reasons.  Unfortunately, Vice President Cheney has warned them that anyone who talks will go hunting with him…
  • Bahrain’s king has named a woman believed to be the Arab world’s first Jewish ambassador to the US.  I have no doubt she is eminently qualified and it really is a forward-thinking move–but perhaps it was the only way he could get Michael Jackson to leave the country…
  • Documents just released by Britain’s National Archives reveals that their Cabinet knew of the link between smoking and cancer over 50 years ago but considered it a minor threat and did little out of fear of losing tax revenue.  It’s too bad they didn’t realize then what we know now–there seems to be no relationship between our vices and their prices…
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  • The heads of America’s largest oil companies faced another Senate hearing yesterday,  where they were pressed for answers–mostly about the price of crude oil and gasoliine, but most telling was a question about how much money each CEO earned:  the general answer was between two and five million dollars a year, but one exec claimed to have no idea.  And that may be why $4 a gallon gas seems to have no effect on them…
  • American Airlines announced that they will begin charging passengers $15 to check their first bag, responding to soaring fuel prices that American and other airlines are trying to absorb without sharp increases in fares.  It makes sense, but it will lead to more passengers referring to a steamer trunk as carry-on luggage…
  • The House has passed a $54 billion tax-break bill that faces resistance from Senate Republicans, largely because it doesn’t address shielding more taxpayers from the alternative minimum tax.  It’s kinda like giving your car an expensive detail job–but dismissing that nagging oil leak as nothing at all…
  • A proposal by cell phone carriers to let the federal government regulate how early termination fees are charged in exchange for taking away state authority to do the same thing has been assailed by consumer groups, who said it would give the nation’s largest wireless companies "a get-out-of-court-free card".  Yeah–but what if I got a cool new phone with it?
  • While we’re on the subject, President Bush announced yesterday that Americans will soon be able to send cell phones to friends and family in Cuba as gifts  It’s partially due to a change in policy made by the new Cuban government, and partially because Dubya is desperate to add more Faves to his phone
  • Norwegian masterpiece The Scream will go back on display for the first time in Oslo since it was stolen four years ago –but damage done to it before it was recovered appears to be permanent, despite extensive restoration efforts.  I guess that when you see the face now, you know exactly why they’re screaming
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