Saturday, January 30, 2010

A must see for anyone that uses electricity


I saw the documentary Haynesville the other day. It was awesome. Check out more info here: http://www.facebook.com/haynesvillemovie. It's really a good movie, and doesn't really take that "big oil is so bad" stance like all the other flicks. This one showcases the modern-day necessity of the industry while promoting the benefits of what is indeed a gamechanger for the energy industry.

Latest and Greatest

My latest assignment is to write a commentary piece on the findings of two studies regarding WTI as a benchmark commodity and its record-shattering price ascent (and decent). Definitely looking forward to writing this one.

Judging from the last time I posted, it's been a damn long time. But I thought I'd share everything since someone may be watching.

Monday, December 1, 2008

How low can you go?

Turns out that for a while we were all talking about how high oil would go and how it will crash the world's economy.

Well, we were right about crashing the world's economy, but merely months after the Red Leader of the Western Hemisphere predicted $200-300 oil, Hugo Chavez says "fair" the barrel should be $80-100.

What needs to happen to better the global economy is for the barrel to flatten and find the bottom, or what "true value" is. Crude oil, by historical perspective, is cyclical and has had booms and busts. The remarkable thing about this time is the rapidity of its ascent and descent.

One only hopes now that the author can contribute to this page as often as the barrel rises and falls.

Monday, October 27, 2008

Media's Presidential Bias and Decline

Media's Presidential Bias and Decline
Columnist Michael Malone Looks at Slanted Election Coverage and the Reasons Why
Column By MICHAEL S. MALONE
Oct. 24, 2008

The traditional media are playing a very, very dangerous game -- with their readers, with the Constitution and with their own fates.

The sheer bias in the print and television coverage of this election campaign is not just bewildering, but appalling. And over the last few months I've found myself slowly moving from shaking my head at the obvious one-sided reporting, to actually shouting at the screen of my television and my laptop computer.

But worst of all, for the last couple weeks, I've begun -- for the first time in my adult life -- to be embarrassed to admit what I do for a living. A few days ago, when asked by a new acquaintance what I did for a living, I replied that I was "a writer," because I couldn't bring myself to admit to a stranger that I'm a journalist.

You need to understand how painful this is for me. I am one of those people who truly bleeds ink when I'm cut. I am a fourth-generation newspaperman. As family history tells it, my great-grandfather was a newspaper editor in Abilene, Kan., during the last of the cowboy days, then moved to Oregon to help start the Oregon Journal (now the Oregonian).

My hard-living -- and when I knew her, scary -- grandmother was one of the first women reporters for the Los Angeles Times. And my father, though profoundly dyslexic, followed a long career in intelligence to finish his life (thanks to word processors and spellcheckers) as a very successful freelance writer. I've spent 30 years in every part of journalism, from beat reporter to magazine editor. And my oldest son, following in the family business, so to speak, earned his first national byline before he earned his drivers license.

So, when I say I'm deeply ashamed right now to be called a "journalist," you can imagine just how deep that cuts into my soul.

Now, of course, there's always been bias in the media. Human beings are biased, so the work they do, including reporting, is inevitably colored. Hell, I can show you 10 different ways to color variations of the word "said" -- muttered, shouted, announced, reluctantly replied, responded, etc. -- to influence the way a reader will apprehend exactly the same quote. We all learn that in Reporting 101, or at least in the first few weeks working in a newsroom.

But what we are also supposed to learn during that same apprenticeship is to recognize the dangerous power of that technique, and many others, and develop built-in alarms against them.

But even more important, we are also supposed to be taught that even though there is no such thing as pure, Platonic objectivity in reporting, we are to spend our careers struggling to approach that ideal as closely as possible.

That means constantly challenging our own prejudices, systematically presenting opposing views and never, ever burying stories that contradict our own world views or challenge people or institutions we admire. If we can't achieve Olympian detachment, than at least we can recognize human frailty -- especially in ourselves.


Reporting Bias
For many years, spotting bias in reporting was a little parlor game of mine, watching TV news or reading a newspaper article and spotting how the reporter had inserted, often unconsciously, his or her own preconceptions. But I always wrote it off as bad judgment and lack of professionalism, rather than bad faith and conscious advocacy.

Sure, being a child of the '60s I saw a lot of subjective "New" Journalism, and did a fair amount of it myself, but that kind of writing, like columns and editorials, was supposed to be segregated from "real" reporting, and, at least in mainstream media, usually was. The same was true for the emerging blogosphere, which by its very nature was opinionated and biased.

But my complacent faith in my peers first began to be shaken when some of the most admired journalists in the country were exposed as plagiarists, or worse, accused of making up stories from whole cloth.

I'd spent my entire professional career scrupulously pounding out endless dreary footnotes and double-checking sources to make sure that I never got accused of lying or stealing someone else's work -- not out of any native honesty, but out of fear: I'd always been told to fake or steal a story was a firing offense & indeed, it meant being blackballed out of the profession.

And yet, few of those worthies ever seemed to get fired for their crimes -- and if they did they were soon rehired into even more prestigious jobs. It seemed as if there were two sets of rules: one for us workaday journalists toiling out in the sticks, and another for folks who'd managed, through talent or deceit, to make it to the national level.

Meanwhile, I watched with disbelief as the nation's leading newspapers, many of whom I'd written for in the past, slowly let opinion pieces creep into the news section, and from there onto the front page. Personal opinions and comments that, had they appeared in my stories in 1979, would have gotten my butt kicked by the nearest copy editor, were now standard operating procedure at the New York Times, the Washington Post, and soon after in almost every small town paper in the U.S.

But what really shattered my faith -- and I know the day and place where it happened -- was the war in Lebanon three summers ago. The hotel I was staying at in Windhoek, Namibia, only carried CNN, a network I'd already learned to approach with skepticism. But this was CNN International, which is even worse.

I sat there, first with my jaw hanging down, then actually shouting at the TV, as one field reporter after another reported the carnage of the Israeli attacks on Beirut, with almost no corresponding coverage of the Hezbollah missiles raining down on northern Israel. The reporting was so utterly and shamelessly biased that I sat there for hours watching, assuming that eventually CNNi would get around to telling the rest of the story & but it never happened.



The Presidential Campaign
But nothing, nothing I've seen has matched the media bias on display in the current presidential campaign.

Republicans are justifiably foaming at the mouth over the sheer one-sidedness of the press coverage of the two candidates and their running mates. But in the last few days, even Democrats, who have been gloating over the pass -- no, make that shameless support -- they've gotten from the press, are starting to get uncomfortable as they realize that no one wins in the long run when we don't have a free and fair press.

I was one of the first people in the traditional media to call for the firing of Dan Rather -- not because of his phony story, but because he refused to admit his mistake -- but, bless him, even Gunga Dan thinks the media is one-sided in this election.

Now, don't get me wrong. I'm not one of those people who think the media has been too hard on, say, Republican vice presidential nominee Gov. Sarah Palin, by rushing reportorial SWAT teams to her home state of Alaska to rifle through her garbage. This is the big leagues, and if she wants to suit up and take the field, then Gov. Palin better be ready to play.

The few instances where I think the press has gone too far -- such as the Times reporter talking to prospective first lady Cindy McCain's daughter's MySpace friends -- can easily be solved with a few newsroom smackdowns and temporary repostings to the Omaha bureau.

No, what I object to (and I think most other Americans do as well) is the lack of equivalent hardball coverage of the other side -- or worse, actively serving as attack dogs for the presidential ticket of Sens. Barack Obama, D-Ill., and Joe Biden, D-Del.

If the current polls are correct, we are about to elect as president of the United States a man who is essentially a cipher, who has left almost no paper trail, seems to have few friends (that at least will talk) and has entire years missing out of his biography.

That isn't Sen. Obama's fault: His job is to put his best face forward. No, it is the traditional media's fault, for it alone (unlike the alternative media) has had the resources to cover this story properly, and has systematically refused to do so.

Why, for example to quote the lawyer for Republican presidential nominee Sen. John McCain, R-Ariz., haven't we seen an interview with Sen. Obama's grad school drug dealer -- when we know all about Mrs. McCain's addiction? Are Bill Ayers and Tony Rezko that hard to interview? All those phony voter registrations that hard to scrutinize? And why are Sen. Biden's endless gaffes almost always covered up, or rationalized, by the traditional media?



Joe the Plumber
The absolute nadir (though I hate to commit to that, as we still have two weeks before the election) came with Joe the Plumber.

Middle America, even when they didn't agree with Joe, looked on in horror as the press took apart the private life of an average person who had the temerity to ask a tough question of a presidential candidate. So much for the standing up for the little man. So much for speaking truth to power. So much for comforting the afflicted and afflicting the comfortable, and all of those other catchphrases we journalists used to believe we lived by.

I learned a long time ago that when people or institutions begin to behave in a matter that seems to be entirely against their own interests, it's because we don't understand what their motives really are. It would seem that by so exposing their biases and betting everything on one candidate over another, the traditional media is trying to commit suicide -- especially when, given our currently volatile world and economy, the chances of a successful Obama presidency, indeed any presidency, is probably less than 50/50.

Furthermore, I also happen to believe that most reporters, whatever their political bias, are human torpedoes & and, had they been unleashed, would have raced in and roughed up the Obama campaign as much as they did McCain's. That's what reporters do. I was proud to have been one, and I'm still drawn to a good story, any good story, like a shark to blood in the water.

So why weren't those legions of hungry reporters set loose on the Obama campaign? Who are the real villains in this story of mainstream media betrayal?

The editors. The men and women you don't see; the people who not only decide what goes in the paper, but what doesn't; the managers who give the reporters their assignments and lay out the editorial pages. They are the real culprits.



Bad Editors
Why? I think I know, because had my life taken a different path, I could have been one: Picture yourself in your 50s in a job where you've spent 30 years working your way to the top, to the cockpit of power & only to discover that you're presiding over a dying industry. The Internet and alternative media are stealing your readers, your advertisers and your top young talent. Many of your peers shrewdly took golden parachutes and disappeared. Your job doesn't have anywhere near the power and influence it did when your started your climb. The Newspaper Guild is too weak to protect you any more, and there is a very good chance you'll lose your job before you cross that finish line, 10 years hence, of retirement and a pension.

In other words, you are facing career catastrophe -- and desperate times call for desperate measures. Even if you have to risk everything on a single Hail Mary play. Even if you have to compromise the principles that got you here. After all, newspapers and network news are doomed anyway -- all that counts is keeping them on life support until you can retire.

And then the opportunity presents itself -- an attractive young candidate whose politics likely matches yours, but more important, he offers the prospect of a transformed Washington with the power to fix everything that has gone wrong in your career.

With luck, this monolithic, single-party government will crush the alternative media via a revived fairness doctrine, re-invigorate unions by getting rid of secret votes, and just maybe be beholden to people like you in the traditional media for getting it there.

And besides, you tell yourself, it's all for the good of the country

Monday, September 1, 2008

Bull vs Bear

I'd often ask myself, "What's the difference between bull and bear?" in terms of economy and market talk. I never realized the answer was so clear to me than just parallel it to Chicago sports. When you think of the Bulls, you think of good things. 6 championships, etc. But the Bears?? Horrible. Kyle Orton or Rex Grossman?

'Bull' is an optimistic outlook while 'bear' refers to a pessimistic market viewpoint.

The Chicago Bulls of the mid 1990's. Michael Jordan, Scottie Pippen, Dennis Rodman, Horace Grant, The Shot, Steve Kerr, et cetera. Good thoughts.

The Bears. Monsters of the Midway during the mid 80's but during the Bulls reign of supremacy, the Bears were horrible. I know the Bulls this year sure sucked, but you get my point, don't you?

Monday, August 25, 2008

I can see clearly now...

I've been antsy to fill my car up to capacity for a few weeks now as crude's price retreated from its all time-high. I will only put in like 10-15 bucks, sometimes less, because I follow the futures prices intently.

If I know prices will come down in a few days, why fill it up all the way?

Now that crude has somewhat hit a plateau, on Saturday, I filled up my ride at $3.199/gal. Cheapest gas in the H.O.U. that I have seen in quite sometime, so I decided to top it off.

12 gallons = $38.39. First time in well over 4 months that filling up the Silver Streaker cost under 40 bones.

$3.199/gal = $134.358/bbl. Friday's crude close at $114.59, pits a $19.768/bbl profit margin. I know that its futures price and not exactly what the retailer or the refiner paid for it.

Now what really makes me wonder is at what cost did that particular Chevron buy its crude at? Where did it come from? What API grade was it? How much ethanol is in it? What was the cost of the ethanol?

Well, questions asked, but no immediate answers are available. No wonder the American public doesn't "get it" about the oil market.

Name one other product that is literally unseen by the consumer and goes through the same process as crude oil does: literally is sucked out of the ground under miles and miles of dirt and possibly a shitload of water, pumped into a giant tanker or though a pipeline, fired into a distillation tower, blasted through a cracker, swimming through miles of spaghetti-like pipelines in the refinery, transferred to another giant tank, mixed with corn booze, put into a truck and driven to a station, hosed to underground tanks, then sent up through a retail pump and flushed into your gas tank?

There is a lack of transparency in the oil market. But is it because the physical oil itself cannot be seen? Or is it that the paper traded on oil isn't the transparent part?

Friday, August 22, 2008

A sound energy policy

Amazing what time can do. Seeing as I haven't posted in well over two months, I think it's time to get off the schneid and return to venting.

Crude spiked to $147 in mid-July and receded to settle $114.59 today. Interesting that prices rocketed up and are falling almost as fast. The barrel keeps looking for that bottom, but as energy becomes a hot-button issue in the election year, I came across a fitting statement in this week OGJ.

The US energy policy as it relates to oil and gas is to hoard crude in strategic storage, limit domestic production with land-use policy, stimulate with tax policies and mandates the manufacture and use of uncompetitive fuels, err on the side of high fuel cost in environmental regulation, and treat oil companies like criminal enterprises when fuel prices rise. This is, in fact a comprehensibe energy policy. It's a poor one, but comprehensive none the less.


It's going to be a real interesting campaign season, and it's just now getting heated up. Obama and the D's really had their heads up his ass on energy policy, but until McCain flop-flipped his course on offshore drilling, his head was going where Obama and cohorts were heading.

Shameful that Paris Hilton seems to have hit the nail on the head here.