Nothing to see here - move along...

Nothing to see here - move along, move along...

US oil firms seek drilling access, but exports soar

July 3, 2008

WASHINGTON3 (Reuters) - While the U.S. oil industry want access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling.

More at the link.

Yes, we have no inflation...

...we have no inflation today.

We're paying a helluva lot more for everything. And every time we go to the store, we get sticker shock because the price of everything has gone up some more. But as if by magic, there is no inflation.

And if you believe that, I've got a great deal for you on some property investments in Brooklyn and south-central Florida.

If you're a tad skeptical, check out the link, to find out how the Bureau of Labor Statistics managed to turn April's 5.6% rise in the price of gasoline into a 2% decline.

You'll also find out that all those prices haven't really been soaring, because "inflation-adjusted wages for nonsupervisory workers fell by 1 percent in April compared to a year ago, the seventh consecutive [monthly] decline."

This AP Economics writer also makes a few good jokes along the way, albeit unintentionally. Take this, for example:

"A severe bout of energy-driven inflation in the 1970s did lead to a wage-price spiral as workers began demanding more pay to keep up with soaring prices. That's not expected this time thanks to the inflation-fighting credibility gained by the Federal Reserve."

Or how about this one:

"Forecasters believe crude oil prices, which briefly touched a new record this week close to $127 per barrel, will eventually start coming down....to around $100 per barrel by the end of this year."

Woohoo! Oil at only $100 a barrel! (...In some alternate universe.) Guess that means, by December, we'll all be singing, "Happy days are here again!"

Or maybe all these really-really-smart economists just think the rest of us are a bunch of drooling idiots.

3 blocks up, 2 blocks over

Denver police arrest shooter on two counts of first degree murder.

Two killed - inside a house - by one bullet from a high-powered rifle fired from 300 yards away by some idiot 'celebrating' on New Year's Eve! Gee, and when all the fireworks - and gunfire - started, I told a startled KitterRed kitty that there was nothing to worry about. I should have added, as long as we crawl around below window level.

On Christmas Eve, I had to call 911 (again) about the nutcases/drug-dealers across the street, for firing a gun 6 times. Having called 911 on them about every other month for the past 3 years, I'm pretty sure they weren't 'celebrating' anything.

How can you live without ever walking in front of any of your windows - or glass doors? Is it any wonder I now get nervous every time I walk past my kitchen window to pour myself a cup of coffee?

Some people might say I should have expected as much, considering I moved to this apartment over here in 'Taco Flats'. But hey, at least over here I'm behind an iron security fence, with state-of-the-art surveillance cameras all over the place; and, for the most part, I'm also behind two layers of brick & cinderblock walls, with electronic alarms on all the windows and doors. I didn't have any of that security at my last apartment - which was across the street from an exclusive enclave of million-dollar homes in oh-so-upscale unincorporated Littleton -- about a mile and a half from Columbine.

Remember the church shootings in Aurora recently? As far as I concerned, no matter what part of the city you're in, living in Denver sucks.

Enough's enough. At my earliest convenience, I'm moving back to God's country -- where practically everybody owns at least a half dozen guns, and hardly anybody ever gets shot by accident.

A worrisome little article

Crisis may make 1929 look a 'walk in the park'

Geez, what a headline! What do you think -- are they really freaking out, or just trying to scare the pants off all of us?

So as not to infringe on copyright, here are a few of this 3-page article's ...err ...high points:

"Liquidity doesn't do anything in this situation," says Anna Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman) of the Great Depression.

"It cannot deal with the underlying fear that lots of firms are going bankrupt. The banks and the hedge funds have not fully acknowledged who is in trouble. That is the critical issue," she adds.

...the crisis has moved beyond the collapse of mortgage securities, and is now eating into the bedrock of banking capital. "We must try to avoid the vicious circle in which tighter liquidity conditions, lower asset values, impaired capital resources, reduced credit supply, and slower aggregate demand feed back on each other," he says.

New York's Federal Reserve chief Tim Geithner echoed the words, warning of an "adverse self-reinforcing dynamic", banker-speak for a downward spiral.

In theory, Japan had ample ammo to fight a bust. Interest rates were 6 per cent in February 1990. In reality, the country was engulfed by the tsunami of debt deflation quicker than the bank dared to cut rates. In the end, rates fell to zero. Still it was not enough.

When a credit system implodes, it can feed on itself with lightning speed. Current rates in America (4.25 per cent), Britain (5.5 per cent), and the eurozone (4 per cent) have scope to fall a long way, but this may prove less of a panacea than often assumed. The risk is a Japanese denouement across the Anglo-Saxon world and half Europe.

"The kind of upheaval observed in the international money markets over the past few months has never been witnessed in history," says Thomas Jordan, a Swiss central bank governor.

Attention, Star Trek fans worldwide

On two nights only -- Tuesday Nov. 13th and Thursday Nov. 15th -- Star Trek: The Menagerie - digitally re-mastered in High-Definition and Cinema Surround Sound - will be showing in movie theaters across the US, and in Canada. For a hint what re-mastered means, click here.

Update: Looks like it's become a world-wide phenomena: Star Trek: The Menagerie is also showing at theaters in Europe and Australia.

Check those links carefully -- it's showing on different dates in different countries.

Kat

Egyptian Myths in Harry Potter

Many long-time Daily Grail readers are probably aware that I'm a big fan of the Harry Potter books. But if you haven't read them yourself, perhaps you've wondered what I (and other adults) find so interesting about these 'children's books.' If so, here's a big part of the answer for you:

Egyptian Myths in Harry Potter -- original Mugglenet.com editorials by S.P. Sipal

Part 1: Harry of the Two Ways

Part 2: The Contendings of Harry and Voldemort

Part 3: Harry's Sacred Egyptian Triangle

Reading these essays may even provide some insight into my devotion to The Daily Grail. ;-)

Enjoy.

China's FDA chief sentenced to death

China's going to have to do a lot more than lop off the head of one bureaucrat before I'll ever knowing eat - or feed to my pets -anything imported from there again. Note that Zheng was arrested for corruption in 2005 - long before the recent food & drug scandals were reported in the mainstream media - so executing Zheng isn't going to solve the problem.

China's food and drug agency chief sentenced to death

The disgraced head of China's food and drug agency was sentenced to death yesterday amid a wave of consumer safety scandals.

Zheng Xiaoyu, 62, was found guilty of accepting 6.5m yuan (£433,000) worth of bribes from pharmaceutical companies to expedite the approval of new drugs.

Underscoring the state's determination to crack down on corruption and consumer safety violations, he is the most senior official to receive the death penalty in seven years.

Beijing fears a collapse of consumer confidence after a series of deadly food and drug scandals, often linked with lax regulation and bribe taking. With more Chinese products filling shelves overseas, several cases have had international repercussions.

For most of the past decade, Zheng was the face of the government's consumer safety policy. A former pharmaceutical company executive, he was appointed as the first director of the state food and drug administration in 1998. His powerful agency controlled the approval process for all new drugs and coordinated the licensing of food and pharmaceutical factories.

According to local media, one antibiotic approved by the agency killed 10 patients last year before it was withdrawn. In 2005, the year Zheng was arrested, the health ministry reported 34,000 food-related illnesses. Given the 1.3 billion population, it is not a huge number.

The Beijing court said Zheng's crime was to have abused his position to secure benefits for himself and his family.

"Zheng was supposed to use the power given to him by the state and the people seriously and honestly, but instead he has ignored their vital interests by taking the bribes," Xinhua quoted the court as saying. "This has threatened the safety of people's life and health and has caused an extremely bad social impact."

The unusually harsh penalty may have been handed down to reassure foreign as well as Chinese consumers that the government is taking action.

Earlier this month, Australia, Panama and the Dominican Republic recalled thousands of tubes of Chinese-made toothpaste that allegedly contained dangerous levels of diethylene glycol, a toxin normally used to cool engines.

In April, the United States government blamed tainted pet food from China for the fatal poisoning of several dogs and cats. Three US states have since banned imports of catfish from China because they contained an unauthorised antibiotic.

IRS's war tax refund offer

If you're a US citizen about to file your 2006 income tax return, don't forget to take the IRS's war tax refund offer.

Kat

9/11 echo in JFK - Garrison Investigation video

I just watched the 'JFK - Garrison Investigation' video, and noticed (...err, what to call it) quite a coincidence, or maybe it's a synchronicity.

As they're saying that Clay Shaw was president of the International Trade Mart, and one of New Orleans' leading citizens, at 3:45 in the video, they show a sign in front of a building in New Orleans. In huge letters, the sign says 'WTC', and below those letters, 'World Trade Center'. Then they pan up to the building itself (see 3:42), which, considering it's located in N.O and is much smaller size, looks remarkably like the twin towers in NY.

If you haven't watched it yet, Shaw is the one Garrison later arrested, charging him with conspiracy to assassinate the president.

Kat

Come one, come all - esp. badeye & sjaoar

Since it's relatively easy - not to mention great fun - to pull together a list of 15 to 30 articles for a TDG News Brief, why not have a go at it yourself? You could post your list of news items as a blog, to show us how you'd like to see it done. All you'd have to do is list the headlines of the news articles you find (or make up your own headlines), and copy&paste each article's url beneath the headline.

We news editors typically do our 'news searches' from an individually-created list of bookmarked news sites. So to help you with your search, you'll find a list, below, of the major news sites that we searched, for the articles we posted in this past week's News Briefs (not including Greg's 'Roundup' sites), plus a few more sites we frequent.

A few tips on creating your News Blog:

1. Remember to write an intro, and include a Quote of the Day at the end.

2. Aim to please most readers:
Some like animal stories - parrots, odd bears, heroic pets.
Some enjoy science articles in all areas: physics, math, astronomy, genetics, medical breakthroughs, psychology, inventions, economics, cosmology, consciousness, etc.
Some people like - and some people don't like - politics, conspiracy theories, etc.
Some people enjoy fortean mysteries - Bigfoot and other cryptids, UFO news, and other paranormal news.
Some people look forward to archaeological news, Ancient Egypt, Atlantis, and other hidden history.
Some like magik, secret societies, etc.
Some like alchemy, hermeticism, gnosticism, such things as the current debate over evolution vs creationism/intelligent design, mysticism, and sacred traditions.

3. Try not to repost any news that's already been posted in previous News Briefs, or any news that's currently listed in the feeds from Wired, Space.com, etc., unless you find a better article from a different source.

I'm sure many of TDG's regular readers are up to this challenge. Who knows - maybe by concensus, our readers will decide which News Blog they like best, and the winner will be rewarded with eternal fame and glory - or at least, the satisfaction of a job well done.

So here you go -- just zip through this short list of news sites, pick 15 to 30 new news articles (including urls), and post them in your blog. I'm sure we'll all eagerly devour whatever you come up with.

Kat

http://www.spaceref.com/news/
http://www.space.com/
http://physorg.com/
http://news.bbc.co.uk/
http://www.freep.com/
http://www.guardian.co.uk/
http://news.nationalgeographic.com/news/
http://cnews.canoe.ca/CNEWS/
http://www.cbc.ca/
http://www.timesonline.co.uk/
http://www.telegraph.co.uk/
http://abcnews.go.com/
http://www.sciencenews.org/
http://www.archaeology.org/
http://www.newscientist.com/
http://space.newscientist.com/
http://www.sciam.com/news_directory.cfm
http://www.scienceagogo.com/news/news.sh...
http://www.nytimes.com/
http://www.cnn.com/
http://www.unknowncountry.com/news/
http://www.anomalist.com/
http://www.forteantimes.com/
http://www.unexplained-mysteries.com/
http://www.strangeattractor.co.uk/furthe...
http://www.prisonplanet.com/
http://www.sciencedaily.com/news/summari...
http://www.grahamhancock.com/news/index....
http://www.theregister.co.uk/science/
http://www.astrobio.net/news/
http://news.yahoo.com/
http://www.livescience.com/
http://news.scotsman.com/
http://www.sfgate.com/
http://news.independent.co.uk/
http://www.cryptomundo.com/
http://www.rense.com/
http://english.pravda.ru/science/
http://dsc.discovery.com/news/
http://www.ufoarea.com/
http://www.ufodigest.com/index.html
http://www.firstscience.com/home/
http://www.eurekalert.org/pubnews.php
http://www.nature.com/news/index.html
http://sciencenow.sciencemag.org/
http://abc.net.au/science/news/default.h...
http://www.wired.com/index.html
http://www.msnbc.msn.com/
http://www.slate.com/
http://paranormalreview.com/News/tabid/5...
http://www.americanchronicle.com/
http://www.strangeark.com/blog/
http://cosmicvariance.com/
http://www.impactlab.com/
http://www.cosmosmagazine.com/news
http://www.unexplainable.net/
http://www.thothweb.com/index.html
http://www.archaeologica.org/NewsPage.ht...
http://en.epochtimes.com/123,93,,1.html
http://news.yahoo.com/
http://news.google.com/ -- (check google's science news, and then do a search of google news for such terms as "archaeologists" , "ancient" , and "artifacts" - and whatever your personal interests include, such as "Bigfoot" , "supernatural" , or "UFOs" )