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Mujahideen Army threatens Pope with suicide attack
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-Short Attention Span Theater-
Sex Assault Charges Dropped in Necrophilia Case
A judge on Friday dismissed charges of attempted sexual assault against three men accused of trying to dig up a woman's body to have sex with the corpse, noting that Wisconsin has no law against necrophilia.

Authorities said the three were not acquainted with the woman but had seen an obituary with her photo.

(A little) more at link. YJCMTSU
Posted by: Scooter McGruder || 09/17/2006 01:46 || Comments || Link || [2 views] Top|| File under:

#1  hmmm think Wisconsin needs have its state legislators get cracking on a new law.
Posted by: djohn66 || 09/17/2006 4:27 Comments || Top||

#2  I'm sure they'll dig something up.
Posted by: Zenster || 09/17/2006 5:46 Comments || Top||

#3  Wisconsin swiss cheese, the kind with the really large, irregular shaped holes, wasn't satisfying anymore.
Posted by: Mark Z || 09/17/2006 7:13 Comments || Top||

#4  And right after that they can get cracking on a law making gross stupidity illegal.
Posted by: gorb || 09/17/2006 7:24 Comments || Top||

#5  Considering how much beer they drink in Wisconsin, I'd a thunk this would have come up before a time or two;)
Posted by: Spot || 09/17/2006 7:52 Comments || Top||

#6  Any relation to Ed Gein?
Posted by: imoyaro || 09/17/2006 8:32 Comments || Top||

#7  It's come up a time or two, but it died in committee.
Posted by: Fred || 09/17/2006 9:48 Comments || Top||

#8  #4: And right after that they can get cracking on a law making gross stupidity illegal.

Naaah, Gross Stupidity is usualy fatal, no need for Legislators to waste time on dead idiots.
Posted by: Redneck Jim || 09/17/2006 11:12 Comments || Top||

#9  Photobucket - Video and Image Hosting

/ducks do it, so why, or why, can't I?
Posted by: Anonymoose || 09/17/2006 11:43 Comments || Top||

#10  You just have to wonder why the police didn't take the backhoe and shove dirt over the lot of them.
Posted by: Shush Sholuth7794 || 09/17/2006 11:49 Comments || Top||

#11  This is now a dead case, safe for dirt napping.
Posted by: Captain America || 09/17/2006 12:30 Comments || Top||

#12  I have grave doubts about these defendants. Whatever neuroses they suffer are probably deeply buried. Psychiatrists could probably find out what the real problem is if just dug down further. If the court is to impose penalties in this case, they must be very stiff. Defense attorneys must not be allowed to vault over their their defendants' warped conduct. Similarly, it is incumbent upon the prosecution to uncover any plot and do so with rigor. One would think that premature death had prevented any further intercourse with the intended victim. Such is not the case and confronted with the workings of these diseased young minds we must be unafraid to call a spade a spade.
Posted by: Zenster || 09/17/2006 14:21 Comments || Top||

#13  "grave doubts"....lol
Posted by: mcsegeek1 || 09/17/2006 15:04 Comments || Top||


Hurricane Lane slams into Mexico's Pacific coast
Posted by: Fred || 09/17/2006 00:00 || Comments || Link || [1 views] Top|| File under:


Britain
CCTV Police Cameras Now Barking Orders At Citizens
Big Brother is not only watching you - now he's barking orders too. Britain's first 'talking' CCTV cameras have arrived, publicly berating bad behaviour and shaming offenders into acting more responsibly.

The system allows control room operators who spot any anti-social acts - from dropping litter to late-night brawls - to send out a verbal warning: 'We are watching you'.

Middlesbrough has fitted loudspeakers on seven of its 158 cameras in an experiment already being hailed as a success. Jack Bonner, who manages the system, said: 'It is one hell of a deterrent. It's one thing to know that there are CCTV cameras about, but it's quite another when they loudly point out what you have just done wrong.

'Most people are so ashamed and embarrassed at being caught they quickly slink off without further trouble.

'There was one incident when two men started fighting outside a nightclub. One of the control room operators warned them over the loudspeakers and they looked up, startled, stopped fighting and scarpered in opposite directions.

'This isn't about keeping tabs on people, it's about making the streets safer for the law-abiding majority and helping to change the attitudes of those who cause trouble. It challenges unacceptable behaviour and makes people think twice.'

The Mail on Sunday watched as a cyclist riding through a pedestrian area was ordered to stop.

'Would the young man on the bike please get off and walk as he is riding in a pedestrian area,' came the command.

The surprised youth stopped, and looked about. A look of horror spread across his face as he realised the voice was referring to him.

He dismounted and wheeled his bike through the crowded streets, as instructed.

Law-abiding shopper Karen Margery, 40, was shocked to hear the speakers spring into action as she walked past them.

Afterwards she said: 'It's quite scary to realise that your every move could be monitored - it really is like Big Brother.

'But Middlesbrough does have a big problem with anti-social behaviour, so it is very reassuring.'

The scheme has been introduced by Middlesbrough mayor Ray Mallon, a former police superintendent who was dubbed Robocop for pioneering the zero-tolerance approach to crime.

He believes the talking cameras will dramatically cut not just anti-social behaviour, but violent crime, too.

And if the city centre scheme proves a success, it will be extended into residential areas.

The control room operators have been given strict guidelines about what commands they can give. Yelling 'Oi you, stop that', is not permitted.

Instead, their instructions make the following suggestions: 'Warning - you are being monitored by CCTV - Warning - you are in an alcohol-free zone, please refrain from drinking'; and Warning - your behaviour is being monitored by CCTV. It is being recorded and the police are attending.'

Mr Bonner said: 'We always make the requests polite, and if the offender obeys, the operator adds 'thank you'. We think that's a nice finishing touch.

'It would appear that the offenders are the only ones who find the audio cameras intrusive. The vast majority of people welcome these cameras.

'Put it this way, we never have requests to remove them.'

But civil rights campaigners have argued that the talking cameras are no 'magic bullet', in the fight against crime.

Liberty spokesman Doug Jewell said: 'None of us likes litterbugs or yobs playing up on a Saturday night, but talking CCTV cameras are no substitute for police officers on the beat.'
"Attention: Fat, balding man in brown stretch pants! YOU ARE WORTHLESS AND WEAK! NOW DROP AND GIVE ME 20! And ladies, YOU ARE ORDERED TO REMOVE YOUR TOPS AND DO JUMPING JACKS! BRAS, TOO! AND BE QUICK ABOUT IT! HUP! HUP!"
Posted by: Anonymoose || 09/17/2006 09:54 || Comments || Link || [3 views] Top|| File under:

#1  "Demolition Man" comes immediately to mind, where the wall mounted monitors printed out a small fine for any misbehaviour, and Stalone used them to wipe his ass.
Posted by: Redneck Jim || 09/17/2006 11:15 Comments || Top||

#2  It's much easier to bark at one's own local citizens through a loudspeaker and camera than it is to root out the violent Islamicists that would destroy their society. So guess which one they're doing?
Posted by: Steve White || 09/17/2006 12:10 Comments || Top||

#3  Put one in rhe Mayor's office, Home, and any place he frequents, allow the citizens to comment on his "Transgressions" and see how long the cameras stay active.
My guess is about one day.

Sauce for the Goose.......
Posted by: Redneck Jim || 09/17/2006 12:15 Comments || Top||

#4  I can just see one of these in America, the video highlights would be hilarious.
Posted by: djohn66 || 09/17/2006 13:41 Comments || Top||

#5  I can just see one of these in America

So can I, and in less than five minutes it would probably be peppered worse than a rural Texas stop sign.
Posted by: Zenster || 09/17/2006 14:03 Comments || Top||

#6  If a civilian oversight group monitors the police monitors, this might work. The surveillance tapes and the officer’s statements could be archived. If a citizen complained about harassment then a civilian representative could review the tape and the officer’s action. If the tape “disappeared”, that would be a strong indicator of official misconduct. Such as system could improve public safety while also protecting individual rights.

(AI programs are being developed to recognize unusual behavior. An AI could filter video from many sites to alert a police monitor of suspicious activity. Local citizen groups could also be recruited to monitor public cameras.)

The “broken window” affect in which attention to minor crimes reduces major crime is relevant.

People behave differently when they are aware someone is watching. Even putting a picture of a “watching” face in a public place affects behavior. (In the experiment people took smaller portions of free food, presumably because under scrutiny they didn’t want to take more than a fair share.)

Re: “Put one in rhe Mayor's office, Home, and any place he frequents,…”

If the Mayor were in public, he would be monitored, as would everyone else. His private activities should be protected by the same laws that protect all citizens.
Posted by: Hupeger Creamble4059 || 09/17/2006 14:42 Comments || Top||

#7  I can just see one of these in America, the video highlights would be hilarious

Well you don't have to look very far. There are hundreds of them now, all over the US, mostly in the parking lots of cenvenience stores, near ATMs, and other loitering and possible crime problem areas. Right now I only know of two systems that are monitored by police; the rest are monitored by private security. They literally yell through the speaker at the loiterers, and tell them to get the hell off the premises. It seems to work.
Posted by: mcsegeek1 || 09/17/2006 15:00 Comments || Top||

#8  The biggest problem I can imagine in the future is the enforcement of petty, frivolous, and ill-conceived local laws. As many as 50% of the laws on the books in some places are never enforced, because they are silly, unlawful, or poorly written.

For example, can you imagine how awful it would be for pedestrians to be barked at for jaywalking, all day, on a underused sidestreet between two businesses with considerable traffic between them?

Say, if in the course of a day you crossed that street five or ten times, and the police wanted you to walk a block out of your way just to use the intersection? Almost never any danger, *but* *it* *is* *the* *law*.

Conversely, a group of teenagers peacefully gathers on a spot on a public street. Do the police have the right to "shoo" them away, just because they don't like them standing there?

Same with a couple making out. For some reason, lots of police hate to see couples kissing in public.

A man walking his dog. "Clean that up!" With what? "I don't care, pick it up with your hand!"

It is a good indicator of ineffectual government when they are obsessive about the little things in peoples' lives. It means that they aren't dealing with the big things they were hired to take care of.
Posted by: Anonymoose || 09/17/2006 16:26 Comments || Top||

#9  Brits must be awash in $$$ iff their surveillance systems can go from watching to warning.
Posted by: JosephMendiola || 09/17/2006 23:59 Comments || Top||


China-Japan-Koreas
Taiwan To Deploy Home-Grown Missile Shield
Taiwan will introduce a new home-grown anti-missile shield next year as part of the island's efforts to boost defense capabilities against China, reports said Wednesday. The shield, known as the Anti Tactical Ballistic Missile (ATBM), is "expected to effectively counter the threat of China's M-9 and M-11 ballistic missiles," Taiwan's Apple Daily paper said, quoting an unnamed source.

Aided by US-made early-warning radar, the system would play a crucial role in defending Taiwan's skies from attacks by Chinese ballistic missiles, the report said. The defense ministry declined to comment. The ATBM, evolved from the existing "Tienkung" (Sky Bow) missiles, had been scheduled to begin operating from 2005. The military-run Chungshan Institute of Science and Technology, its developer, has not explained the delay.

The island's missile shield would eventually be composed of 12 ATBM batteries and an uncertain number of US-made Patriot missiles, the daily said.

Taiwan President Chen Shui-bian in July renewed his warning of China's growing military threat, saying it was now targeting the island with 784 ballistic and 36 cruise missiles, and that the number of missiles was rising at the rate of 120 per year.

A Pentagon report has said China is building up its military at a pace that is tipping the balance against Taiwan and could pose a credible threat to other armies in the region.

Taiwan has installed three batteries of PAC-II Plus missiles, the improved version of the first Patriot, to defend the densely populated greater Taipei area.
Posted by: 3dc || 09/17/2006 01:49 || Comments || Link || [0 views] Top|| File under:

#1  Go Taiwan. Make the Chinese Mandarins lose sleep.
Posted by: Zenster || 09/17/2006 3:19 Comments || Top||

#2  Using ABMs in such circumstances is not cost-effective. The mainland rockets and missiles are for the most part cheap as dirt, and will easily outpace the ABM system with sheer numbers.

The alternative is to have a crash program to create pulsed anti-missile lasers of two kinds. Fixed, high volume installations that can take down large salvos and protect large areas; and small, mobile units that can plug gaps and protect isolated targets like power plants.

Then you save your PAC-3s for major missiles.

The most important concept is to realize that the mainland will do everything on a gigantic scale, and are willing to accept horrific losses. As with the Normandy D-Day invasion, where the US was "willing" to accept 90% casualties for the beach head, they Chinese will anticipate losing that many resources and people to take Taiwan.

They estimate that if they can land even a few Divisions on Taiwan, it will be impossible for the US to dislodge them, especially if they move into the cities and take the civilian population hostage.
Posted by: Anonymoose || 09/17/2006 11:38 Comments || Top||


Home Front: Politix
It will start here: Major Problems At Polls Feared
Some Officials Say Voting Law Changes And New Technology Will Cause Trouble
An overhaul in how states and localities record votes and administer elections since the Florida recount battle six years ago has created conditions that could trigger a repeat -- this time on a national scale -- of last week's Election Day debacle in the Maryland suburbs, election experts said.

In the Nov. 7 election, more than 80 percent of voters will use electronic voting machines, and a third of all precincts this year are using the technology for the first time. The changes are part of a national wave, prompted by the federal Help America Vote Act of 2002 and numerous revisions of state laws, that led to the replacement of outdated voting machines with computer-based electronic machines, along with centralized databases of registered voters and other steps to refine the administration of elections.

But in Maryland last Tuesday, a combination of human blunders and technological glitches caused long lines and delays in vote-counting. The problems, which followed ones earlier this year in Ohio, Illinois and several other states, have contributed to doubts among some experts about whether the new systems are reliable and whether election officials are adequately prepared to use them.

In a polarized political climate, in which elections are routinely marked by litigation and allegations of incompetent administration or outright tampering, some worry that voting problems could cast a Florida-style shadow over this fall's midterm elections. "We could see that control of Congress is going to be decided by races in recount situations that might not be determined for several weeks," said Paul S. DeGregorio, chairman of the federal Election Assistance Commission, although he added that he does not expect problems of this magnitude.

Continued on Page 49
Posted by: Speater Flump2829 || 09/17/2006 08:00 || Comments || Link || [3 views] Top|| File under:

#1  The very thought of a commission run by Jimmah Cahtah and Jimbo Baker makes me sceptical of its results, whatever actual merit they may have. It is hard to think of two more worthless scourges of the public trust except perhaps Bill Clinton and John F'n Kerry. Did I forget Algore?
Posted by: Nimble Spemble || 09/17/2006 9:46 Comments || Top||

#2  Some Officials Say Voting Law Changes And New Technology Will Cause Trouble...

...for the Democrats to remain in power by rigging the results as in Washington State, East St. Louis IL, Chicago, etc. and remove even more excuses to blame the loss on someone or something else.
Posted by: Omoth Ebboper5461 || 09/17/2006 10:39 Comments || Top||

#3  In Snohomish County, Washington State, they just went to forced-mail balloting (i.e. you *must* vote by mail) for the Primary.
The latest sampling shows that a full 20% of the ballots (so far) are invalid because the people didn't fill them out properly or didn't select a party affiliation.
I guess the good news is that conservatives are more likely to be careful - having experience in filling out tax forms and the like.
Posted by: CrazyFool || 09/17/2006 10:46 Comments || Top||

#4  This is what they wanted and now they're yammering.

Typical.
Posted by: anonymous2u || 09/17/2006 11:32 Comments || Top||

#5  guess the good news is that conservatives are more likely to be careful - having experience in filling out tax forms and the like.

I know you are just kidding and that is funny. But as Stalin said, it is who counts the votes.

I used to vote in California as absentee military. In the 2000 and 2004 elections, they would never send my absentee ballot unless I called and made a stink. There was always some lame technicality. In 2000 they (finally) sent it so late I had to fedex it in.
Posted by: Shush Sholuth7794 || 09/17/2006 11:45 Comments || Top||

#6  #3 CF: "I guess the good news is that conservatives are more likely to be careful - having experience in filling out tax forms and the like."

ROFL!

I hadn't thought about it but you're right - moonbats living in Mommy's basement don't have to deal with real life, do they? ;-p
Posted by: Barbara Skolaut || 09/17/2006 14:42 Comments || Top||

#7  "Cause trouble" : dhimmi speak for "Damn! we can't commit voter fraud with these high-tech machines!"
Posted by: mcsegeek1 || 09/17/2006 15:02 Comments || Top||

#8  CF: agree about the Sno Co ballots, but not confined to only that county; all acros the state an average of 15% are being rejected due to the lack of party affiliation indication. This stems from that Phuqued up State supreme court case where both the Dems and the Rebs said that we the people were taking away thier freedom of choice and it was in our best interest to blindly follow their advice. There is a lot of swirl about this and i predict atht there will be a case filed by Joe Citizen to overturn this turd of a law. When I did my absentee, I did not select any partisan races, but only went for the non-parts and levies. Mrs. RET has already said she is not even going to cast a primary vote.
At least we don't have talking cameras (yet).
Posted by: USN,Ret || 09/17/2006 22:55 Comments || Top||


Science & Technology
Missile Defense Success Cause Global Reaction
The successful Sept. 1 test of a U.S. Ground-Based Interceptor is already having repercussions around the world. On Sept. 6, Alexanbdr Vondra, foreign minister of the Czech Republic, boldly stated that European members of NATO would have to build an effective anti-ballistic missile system in cooperation with the United States.

"In the future, the North Atlantic Alliance and European states will not be able to avoid the construction of this system, and it is in the interest of Europe to build such systems in cooperation with America," he announced at a conference on ballistic missile defense in the Czech capital Prague.

In a way, Vondra's comments come as no surprise. His prime minister, Mirek Topolanek, has already been strongly supportive of allowing the United States to build a base for the deployment of Ground-Based Interceptors, or GBIs, such as the one that was successfully tested on Sept. 1 within the territory of the Czech Republic.

And the government of neighboring Poland, especially Polish Defense Minister Radek Sikorski, formerly the long-time head of the New Atlantic Initiative in Washington, is also very supportive of building bases in Poland to house GBIs that could defend his country -- as well as the other countries in the 25-nation European Union -- against possible ballistic missile attack.

However, Vondra's remarks were a significant strengthening of the Czech position. And the issue has been a much more controversial political football in the Czech Republic than in Poland. Previous Prime Minister Jiri Paroubek argued that a national referendum must be held before the United States could be allowed to build a BMD base on Czech territory. By contrast, Topolanek has argued that such a vote should not be necessary.

Clearly the successful U.S. test has strengthened Topolanek and Vonda's hand as well that of Sikorski and his colleagues in Poland.

[..]
Posted by: 3dc || 09/17/2006 01:37 || Comments || Link || [1 views] Top|| File under:

#1  Alexanbdr Vondra, foreign minister of the Czech Republic, boldly stated that European members of NATO would have to build an effective anti-ballistic missile system in cooperation with the United States.

Yeah, right, sure thing you trecherous triangulating European bastards. We've got your missile defense system right here.
Posted by: Zenster || 09/17/2006 1:48 Comments || Top||

#2  LOL, Zenster. I'm so conflicted here...

I thought Poland sorta gave us the finger yesterday...

The Czechs... Hmmm. did I miss all the stories where they've been real cooperative and helpful?

So we're getting there and actually pulling it off and suddenly everybody's our buddy?

NATO or the EU in general? LOLOLOLOLOL...

Yeah, right. Pull my finger... Again.
Posted by: flyover || 09/17/2006 2:04 Comments || Top||

#3  Missile Defense Success Cause Global Reaction

Jeeze can't win for losing, next they'll take a poll and tell us we're unpopular..LOL!

Lets start a five way cat fight..LOL

Tickets git yer Tickets for the Pentagon Smack Down!

In this corner the Tuff EuroWieners Expert Hand Wringers.

In this corner Super Donk anti-Star-War anti-War-Mongers.

In this corner Pootie Poot Pouters a'Puffing.

In this corner seething Muslim Shit Fitters.

In this corner Kofi's Minions a'Clamoring, China, Kimmie, Castro, Hugo Scolding Earthly Arms Race.

just bring it.
Posted by: RD || 09/17/2006 2:18 Comments || Top||

#4  I thought Poland sorta gave us the finger yesterday...

The usual story; They were going to give us a hand but we got the finger instead.

If I had a nickle for every time ...
Posted by: Zenster || 09/17/2006 2:41 Comments || Top||

#5  Yea as long as we pay for it and they have to give permission to use it, No thanks.
Posted by: Sock Puppet of Doom || 09/17/2006 4:19 Comments || Top||

#6  We should give missile defense to Iran, Syria, North Korea, Cuba, and Venezuela.

Opps, I meant missile only.
Posted by: Captain America || 09/17/2006 12:28 Comments || Top||

#7  Don't lump the eastern Europeans with the westerners. The easterners have been backing the US in a whole bunch of different ways, and taking the heat from Chirac and co. over it.

They also have a long memory of Moslems and their murderousness, and sure as hell don't want that sword over their heads again.

But at the same time, they are still bitter as hell about the Soviet military occupation of their countries, and have a knee-jerk reaction to the thought of another foreign army, even totally friendly, being there. But don't confuse that with anti-Americanism.

In fact, despite the occasional minor spat, if the Americans offered to set up a foreign legion filled with eastern Europeans, we could have a Corps set up overnight, and they would fight to the death for us. Poles, Czechs, Bulgarians, Hungarians, Albanians, the Baltic states and others.
Posted by: Anonymoose || 09/17/2006 14:17 Comments || Top||

#8  "Missile Defense Success Causes Global Reaction"

I'll just bet it did - and not in the way the article means.

There are a whole lot of dictato-clowns sitting around surprised and thinking they need to re-think their plans to attack us.

Serves 'em right for believing the U.S. Democrats lefties who have been saying since Reagan was President that it's impossible to shoot down a missle....
Posted by: Barbara Skolaut || 09/17/2006 14:48 Comments || Top||

#9  Zenster - the Eastern Europeans along with the Brits have been strong and loyal friends. It's our Western Europeans 'allies' (especially France) that have been masters of duplicity.
Posted by: DMFD || 09/17/2006 17:18 Comments || Top||

#10  That's why the word "triangulating" is in my post, to distinguish which Europeans I'm talking about. Sheesh.

All of Europe is going to have to get on board in the fight against terrorism before I'll ever approve of us sharing a bazillion dollar project to defend their spineless asses.
Posted by: Zenster || 09/17/2006 17:31 Comments || Top||


Home Front Economy
Oil's slide toward $62 to test OPEC resolve
LONDON (Reuters) - Oil slid below $63 a barrel on Friday touching its lowest level since March as U.S. fuel stockpiles grew ahead of winter and investors probed for a price that would trigger an OPEC supply cut. Waning concern about the West's atomic row with Iran added to bearish sentiment.

U.S. crude was down 70 cents at $62.52 a barrel at 1615 GMT, after touching its lowest since March 23 at $62.03. London Brent crude was off 79 cents to $62.75.

"Our sense is the market might like to test where OPEC wants to set the price floor," said Frederic Lasserre, head of commodity research at Societe Generale. "The psychology of the market has really turned, it looks like the market will be oversupplied next year unless OPEC does something."
Is it just me or is that complete nonsense? 'Psychology of the market'? I thought it was that there are folks with oill to sell and folks with money to buy, and they're settling on what each thinks is a fair price. But I only took a year of economics in college so I might be missing something.
The Organization of the Petroleum Exporting Countries (OPEC) on Friday cut its demand forecast for its oil by 200,000 barrels per day (bpd) next year, when supply from rival producers is expected to surge. The group's own economists expect demand for OPEC oil in 2007 to be 800,000 bpd below this year.

OPEC ministers kept oil output steady near a 25-year high at a meeting this week, but left the door open to a supply cut before the end of the year. They have been at pains to avoid setting a price target they would defend. "(OPEC ministers) have not had to think about cutting output to defend prices for a long time, but the question is now front and center in the market," said Mike Wittner of Calyon.

Top world exporter Saudi Arabia would start quietly trimming supplies if U.S. crude fell to around $60, Wittner said.

Oil has fallen more than 20 percent from its mid-July record of $78.40 as the supply picture improves.

Mounting evidence that the United States has enough fuel stocks to meet winter heating demand further pressured prices. Natural gas stocks are over 12 percent above the average for the last five years. And distillate stocks, which include heating oil, are at their highest level since October 1999.
OPEC can cut if they want, it will just keep the market pressure such that oil shale and everything else out there goes forward. And we've proven we can handle $3 a gallon gasoline.
Posted by: Steve White || 09/17/2006 00:00 || Comments || Link || [1 views] Top|| File under:

#1  I heard some economist claim that oil prices were dropping due to Bernanke raising interest rates. Which is, of course, absurd. I suspect it's due to more to projections of adequate supplies, the markets current measure of the risk of supply disruption, and Chevron's discover of a massive new field in the Gulf of Mexico.

Hate to sound like Al Gore (I REALLY would hate that). But high prices for a while could be a good thing. It will encourage more exploration (maybe even finally drilling in ANWR and off the coasts), looking at alternatives to oil - not just ethanol, but increased production of the Athabasca tar sands, and western oil shale. And perhaps more conservation.
Posted by: DMFD || 09/17/2006 0:36 Comments || Top||

#2  Chevron did not discover a massive new field. What they did do is prove that an older layer of rock than has been previously drilled out there is capable of holding and producing oil. They found one decent-sized field and improved the odds that there are a whole string of decent-sized fields in the area.
Posted by: Glenmore || 09/17/2006 0:42 Comments || Top||

#3  I think I actually put in a comment at this site which called this decline in oil prices. As I recollect, a key would be a quiet hurricane season in the Gulf of Mx.

However, the hurricane season isn't over yet.
Posted by: mhw || 09/17/2006 0:43 Comments || Top||

#4  Glenmore, I saw reports (for instance this one from the "Toronto Star") - "the announcement earlier in September by a Chevron-led consortium about a major oil discovery in the Gulf of Mexico that could boost U.S. oil reserves by 50 per cent".

Of course, given the shoddy state of journalism today - reports could be wrong. Where'd you read that it was not a major new find?
Posted by: DMFD || 09/17/2006 0:52 Comments || Top||

#5  The Wall Street Journal cited Chevron officials as estimating recent discoveries in the Gulf of Mexico could hold as much as 15 billion barrels of oil and gas reserves. That would boost U.S. current reserves by 50 percent.

Link

Posted by: phil_b || 09/17/2006 1:04 Comments || Top||

#6  Earliest date of GoM oil impact is 2010
Posted by: Captain America || 09/17/2006 1:08 Comments || Top||

#7  large oil future gamblers pushed up a portion of the recent oil price record highs, I imagine a few have taken a beating since the adjustment.

It wouldn't surprise me if the Dinner-Jacket© and Crew played the markets around his "Shut the Gulf Down" threats.
Posted by: RD || 09/17/2006 1:51 Comments || Top||

#8  There is nothing more to markets than buyers and sellers. But they have minds and they use them. When it's a seller's market, buyers can shop around all they want, but they won't beat the seller down, they'll just watch the price go up. so they learn to buy quickly and maybe add a little to the bid to make sure they get the deal.

Then, all of a sudden, there's more sellers than buyers. And they buyers know they can go from seller to seller and get them competing with one another to drive the price down. And the longer they can go without buying the lower the price will go.

You've probably seen it if you've watched the housing market. When markets are hot, you get 25 offers on a house. When they're not, they can sit on the market for a year without someone going through. Or gasoline prices; when the price is rising, keep the tank full, when it's falling, drive till the warning light comes on. The mental attitude buyers and sellers bring to the transaction is the market psychology.
Posted by: Nimble Spemble || 09/17/2006 3:21 Comments || Top||

#9  ...OPEC is as addicted to its money as a heroin addict is to his smack - the cheating (ESPECIALLY from those paragons of virtue the Venezulelans and the Iranians) will be massive and widespread. And don't forget that we have about a quarter-million BPD reserve coming back on line in Prudhoe Bay in a couple months, which will take a real whack at any production cuts.

Mike
Posted by: Mike Kozlowski || 09/17/2006 8:14 Comments || Top||

#10  DMFD - I work in the business. It is a very IMPORTANT discovery, but by itself merely demonstrates more potential for big reserves. If you read the WSJ article carefully you'll see the words 'estimating', 'discoveries', and 'could hold.' If you look at the stock prices you'll see Chevron stock has not risen relative to the other oil companies.
Posted by: Glenmore || 09/17/2006 8:49 Comments || Top||

#11  All we need is a federal law that prohibits anyone at the stock exchange from bidding over $40 for a barrel of oil. See what happens to their little cartel then, when the worlds largest consumer refuses to get buggered.
Posted by: bigjim-ky || 09/17/2006 9:14 Comments || Top||

#12  Nope, they'd just buy and sell under the table.

Can't control the free market, it's too slippery.
Posted by: Redneck Jim || 09/17/2006 11:19 Comments || Top||

#13  And don't forget that we have about a quarter-million BPD reserve coming back on line in Prudhoe Bay in a couple months, which will take a real whack at any production cuts.
The Thunder Horse platform in the Gulf should be back in business about the same time.
Posted by: 6 || 09/17/2006 11:41 Comments || Top||

#14  Sounds very good, take away the Saudi's Oil Weapon.
Posted by: Redneck Jim || 09/17/2006 12:10 Comments || Top||

#15  All we need is a federal law that prohibits anyone at the stock exchange from bidding over $40 for a barrel of oil. See what happens to their little cartel then, when the worlds largest consumer refuses to get buggered.

Well, when the price goes up, you'll see either lots of oil leaving the US to the places paying more than $ 40/barrel, and none coming in, thus resulting in massive shortages... OR, if exports are banned, no oil coming in besides what the US produces, which right now is only 40% of what it uses.

We buy 60% of our oil mainly from foreign governments in a known, operating-in-the-open cartel and you're going to blame the price of oil on "wall street traders?"
Posted by: Abdominal Snowman || 09/17/2006 14:39 Comments || Top||

#16  OH, and Venezuela has abused its own reservoir management and production reinvestment so badly that it has to import oil from Russia to fulfill its contracts.

It's also producing about a third _less_ oil than its allowed OPEC production quota, and lying about it. So I don't think there's going to be any "help" coming from that quarter.
Posted by: Abdominal Snowman || 09/17/2006 14:41 Comments || Top||



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