If it blows up, and it isn't a factory or a pipeline, it must be terrorism. If it's a factory or a pipeline, it's business as usual.
Cornycopia: Some spoilsports aren't buying all the hype about the biggoodles of natural gas in our fractured future. They point to the high production decline rates in shale gas wells (from whence we now get 40% of US production) and the rapid decline in the number of new wells being drilled as a prelude to sharply dropping production and sharply rising prices. The EIA notes this week that natural gas in storage is 30% lower this year (and 40% lower on the east coast) and 6% below the five year average – even with all the fracking. Something to avoid thinking about.
The New Normal: The latest calamitous weather events across the country – the downpours, the snowstorms, the windstorms – are not a series of once-in-a-century events, or even once-in-a-decade events. They are the new normal, thanks to global warming/climate change.
Just In: According to Harvard's Niall Ferguson, economics is the leading cause of homosexuality. Or something like that.
Behold The Marvels! The EU is warning that the citizenry are undermining the eurozone's austerity policies, forcing GDP down by -0.4% in 2013 and limiting the promised 2014 recovery. Unemployment will also increase as those lazy Portuguese, Greeks, Spaniards and so on refuse to find jobs. But the EU, ECB and IMF promise to continue to impose their failed program until some ego-saving way for them to sneak off-stage comes along.
We're Republicans and We're Here To Help: Florida Republicans have decided that it is necessary that a million Floridians be deprived of access to Medicaid in order to preserve the ideological purity of those covered by the state's healthplan for legislators.
Mediterranean Diet: New data from Eurostat shows that in 2004, at birth an Italian baby girl could expect to live 71 years before the onset of disabilities. Disability-free life spans have now dropped to only 62 years.
Getting to the point: The backstory isn't that irresponsible politicians (Democrats all, in the received version) will always squander money during the good years, but that “conservative Republican politicians run up debt even in good years, because they want to force cuts in social programs.”
Essay Question: What happens when the Fed stops buying $85 billion in bonds every month? For extra credit, how far is down?
A+ The super-secret court that protects the citizens when the government wants “to conduct electronic surveillance and/or physical searches for foreign intelligence purposes” carefully examined 1,856 such requests in 2012 and approved every one of them. Lady Godiva's tailor had a tougher job.
Unbiased Opinion: A Roman Catholic Archbishop in Mexico says that “abortion is much more serious than rape of children by priests.”
The Parting Shot:
Star-of-Bethlehem. Orinthogalum umbellatum