5/02/2005

Democrats demand:
1.
a new bride law appropriately titled, The Fleeancé Act of 2005. This law will mandate electronic monitoring devices for all prospective brides. Feminists attach rider so males will have to wear them too. Homosexuals and transgender persons vow a discrimination suit. Republicans back down.

2. As crude drops below $47 this AM, (overnight in Europe, NYMEX lows were $48.30) note the fact that Venezuela "sells" oil to Castro for much less than the "going" rate. I don't know, but the revelation of this stat may be the reason for the collapse of crude prices over the past few days.

Keep in mind that the "lifting costs" of crude around the world are less than $5 bbl. In many countries the oil must be "cracked" or extracted from heavy sands, and further processed to attain the "light" crude, making the price $15per bbl. Now try this: Saudi Arabia can break the high lifting cost oil countries by over producing for a few years. A very good piece from Manhattan Institue is here. It's an eye opener.

3. Those of you who don't get Daniel Pipe's weblog by email owe yourself a trip over there right now. More stuff than there are stars in Heaven. Keep in mind that Pipes is more a reporter in the old style---very old----than a blogger. He lays the facts out there with references. This is his best post in months and he is a rare gem.