Is this really wise? We feed our cars almost as much grain as we feed our livestock.

We are diverting increasing amounts of corn into ethanol which goes into our gasoline. That is driving up grain prices. That in turn is driving up food prices here in the U.S. and around the world.

And that at a time when our domestic oil production is going through the roof.

Carpe Diem reminds us of two older articles in More on the lunacy of turning corn into demon ethanol.

The first is from Slate, in July 2012 – Food as Fuel. The second is from far left economist Paul Krugman from April 2008 – Grains Gone Wild.

In the Carpe Diem post, Prof. Perry says that anytime you have Paul Krugman agreeing with fifteen named sources (including commentators from both left and right) that ethanol is a lousy policy …

… you know that ethanol has to be one of the most misguided public policies in U.S. history.

Continue reading “Is this really wise? We feed our cars almost as much grain as we feed our livestock.”

New frontiers are open – Part 3

The new frontiers:

  • Oil Patch
  • Publishing
  • Education
  • Space Exploration

The American prairies

The opportunities opened up wide as the prairies and the Dakota sky with the signing of the Homestead Act.

A man and his family, or a single woman, or a former slave, could stake out a claim, work as hard as you wanted, and with a little bit of luck and constant hard work, make a go of it. Millions of people did.

The opportunity was there for the taking.

As I mentioned before, the land was free but the admission price to play was steep.

That frontier has long been closed.

Other frontiers have opened up, with the opportunities, also as wide as the prairies. Also with the same high price of admission.

Continue reading “New frontiers are open – Part 3”

Eagle Ford crude production likely passing the 400k bopd point in November ’12

I’m having difficulty tracking production levels in Eagle Ford. Haven’t figured out how to read the Texas Railroad Commission’s data (they regulate oil drilling in addition to the rails). Caught on to the North Dakota data a while ago, but that is easier since about 91% of the state’s oil production is from the Bakken field.

One thing I’ve learned is the data comes in slow. Thus it is revised a few times over the next several months after the first data is released.  This is a good thing – the regulators release data as they get it. 

Continue reading “Eagle Ford crude production likely passing the 400k bopd point in November ’12”

Deep background on Mali

If you are interested in what’s happening across northern Africa, especially Mali, here are two articles with more in-depth reporting than you will see anywhere else.

Adam Garfinkle in American Interest:

The articles in one sentence: the situation in Mali is vastly, phenomenally more complicated that you realized with implications going far beyond Mali that you hadn’t thought about.

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US oil production in 2012 increased by the largest amount ever. And 2013 will probably be better. – #16

Article in the Wall Street Journal indicates 2012 saw the largest increase in oil production since we started producing oil in 1859.

Here’s the lede from U.S. Oil-Production Rise is Fastest Ever:

U.S. oil production grew more in 2012 than in any year in the history of the domestic industry, which began in 1859, and is set to surge even more in 2013.

Continue reading “US oil production in 2012 increased by the largest amount ever. And 2013 will probably be better. – #16”

Colleges look at reducing adjunct profs to under 30 hours to avoid health care costs

Mentioned back in November that a number of restaurants and hotels are thinking of cutting their staff back to 29 hours or less to avoid the upcoming requirement to provide full-scale health care to staff working 30 hours or more.

The Wall Street Journal reports in their article Health Law Pinches Colleges (behind paywall) that colleges are moving in this direction as well.

Several colleges mentioned are reducing the class load for adjunct professors so they will be working below the 30 hour cutoff this year. That means the colleges won’t have to either provide health care or pay a penalty.

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Mail update – U.S. starts supply flights, French forces retake city

Just a short recap of the last few days.

The U.S. has started flying supplies into Mali on behalf of the French forces (Reuters – U.S. beings transporting French troops, equipment to Mali). There are reportedly two flights a day to Bamako, the capital.

Continue reading “Mail update – U.S. starts supply flights, French forces retake city”

4 private companies are developing space flight capacity to lift cargo to International Space Station

The space frontier is open.

Popular Mechanics reports in The 4 Spaceships Vying to Send Crews to the ISS just what their title says.

There are four companies developing lift capacity:

Continue reading “4 private companies are developing space flight capacity to lift cargo to International Space Station”

Superb background article on fighting in Mali

Via Meadia points to a great background article in the blog, “Africa is a Country.” Their post is France in Mali: the End of the Fairytale. Lots of good info to help understand what is happening there.

Mr. Mead introduces the post’s author this way:

Gregory Mann, a West African historian, Columbia University professor, and reporter for the blog Africa Is A Country, has been covering Mali for some time now, and in his latest piece he gives us the informed perspective that is often missing in the accounts of mainstream reporters, who are only now scrambling to catch up to a complicated story:

The article explains the context of the fighting over the last week or so. A few highlights (for me at least):

Continue reading “Superb background article on fighting in Mali”

An illustration why you should gain control over your name on the ‘net, both through buying domain names and reserving your name at social media sights

(Cross-post from my other blog, Nonprofit Update.)

Check out the web address www.senatorfeinstein.com. The address goes to a blog.

You would think it is related to the senator from California, right?

Not so fast.

Continue reading “An illustration why you should gain control over your name on the ‘net, both through buying domain names and reserving your name at social media sights”

What if we laid off 70% of all workers? Wouldn’t we go back to the Stone Age and stay there forever?

That’s the lead question in an article by Kevin Kelly at Wired, Better than Human.

He asks:

Imagine that 7 out of 10 working Americans got fired tomorrow. What would they all do?

Well, we’ve been there, done that.  And thrived.

Continue reading “What if we laid off 70% of all workers? Wouldn’t we go back to the Stone Age and stay there forever?”

Background on Well Depletion in Early Years of Production – The Decline Rate

The shale wells using horizontal production have a very high drop off rate in production over the first few years. The initial production (IP) is very high which falls fast (depletion rate). The wells then sustain production at a low level (terminal decline) for a very long time.

That is a very simple summary of what I’ve learned in the last year.

Here is a more detailed explanation from Michael Filloon at Seeking Alpha – Bakken Update: EOG Wells Model EURs Over 2 Million Barrels Of Oil

Here is his first comment that is quite helpful to me:

Continue reading “Background on Well Depletion in Early Years of Production – The Decline Rate”

Why I’m talking about banking and why I have so many blogs

(Cross-post from Nonprofit Update.)

There are so many fascinating industries in the economy. Why do so many of my posts talk about banking?

Why do I have so many blogs?

And where will I put future conversation on banking?

My experience with financial institutions

Continue reading “Why I’m talking about banking and why I have so many blogs”