Too Little For Too Much: Tanking up the guzzler is almost fun these days, with oil at $80 a barrel and gasoline under $3. But what if these aren't the good times, but the beginning of the really bad times? How many new fields won't be found, wells won't be drilled because there's no profit in it? At what point does the decline of the Russian economy become the collapse of the Putin era? How long can even the well-off producers like the Saudis tolerate immense budget deficits because they were relying on $100 oil? What happens to the 'excess supply' from US shale if no new drilling replaces the rapidly declining current wells? In short, how long can we afford cheap oil? In the long term, cutting exploration and development now due to low profitability will lead to even higher costs later on if/when the economy shows signs of life. And the higher prices for the new oil will reduce the funds available for other uses – like developing alternative fuels - and tank the economy again.
Friendly Persuasion: The European Union, with no discussion nor much explanation, has told Great Britain to fork over an extra €2.1bn because the Brits' GDP rose more than expected. France and Germany both will get rebates from their previous levies while struggling Italy and flat-broke Greece were also told to pay more. PM Cameron has flat refused to pay.
Nobody Knows Nothing: “Make no mistake that what we’re experiencing now has literally nothing to do with global growth, earnings or valuations. Psychology is driving this market and it is truly fascinating to watch.”
Blue Light Special: The holding company that owns Sears and Kmart is closing 55 Kmarts, 30 Sears and 31 Sears Auto Center stores and laying off over 6,000 employees. Before Christmas.
Hey, Vegetarians! When caterpillars start chomping on plants, the plants exude mustard oils to ward off the predators. They don't say ouch, but they are fighting for their lives, which should give a moment's pause to those who won't eat meat because...
Tell Or Show: By early December the Obama administration must convince a federal judge that there are compelling reasons to keep secret some of 2,100 graphic pictures of the US military torturing prisoners or the judge will compel the government to release the photos to the public.
Your Call Has Been Forwarded: A man in Utah called the local suicide hotline, which called the cops, who sent the SWAT team, which talked to the man for seven hours and then shot him. It's unclear who won.
Zombiefication: Australian doctors have completed the world's first “dead heart transplant”, just in time for Halloween. Doctors are optimistic that the procedure will work.
Thinning The Herd: The Secret Service conned a Romanian hacker to fly to Boston to meet up with an agent who pretended to be a woman in email exchanges. The hacker, three cartons of grape-flavored condoms in hand, was arrested at the Boston airport.
Truth In Libelling: Supermarket companies and biotech firms like Dupont and Monsanto are outspending advocates of mandatory labeling of GMO foods $25 million to $600,000 in Oregon and Colorado. Because you don't need to know what you're eating.
Porn O'Graph: Three easy pieces.