Odawg's Blizzog

Owen's Life in New Orleans - Stuff in the News - Oil Watch - Formula One - CART - IRL - Motorsports - The Saints - The Chiefs - The Hornets

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4.26.2002

TIME TO GO

The rest of the gang is assembling in town for Jazzfest. I'm getting excited. I have to finish my flagpole modifications, but otherwise, I'm ready to hit the Fairgrounds. Posting this weekend will probably be sparse.

16:35 Link to this blogging

NOT A PRETTY PICTURE

Read this week's report from the Energy Information Administration. Crude imports are still down compared to last year, and more ominously, crude stocks are expected to drop below year-ago levels soon. The big cushion in stockpiles has kept gasoline prices in check so far, but that cushion is evaporating. It's safe to say that there could be a sharp upward turn in gasoline prices soon.

16:32 Link to this blogging

OIL RIG HOSTAGES RELEASED

Everyone was released today unharmed from the Noble jack up rig recently seized off of Nigeria.

This is actually a pretty interesting article. It talks a bit about why the seizure happened. Nigeria is the 6th largest oil exporter in the world. You would think that would make it a wealthy place, right? Wrong. All of the oil money goes to the central government.

There is some benefit for the people. They do get jobs on the rigs and related support activities. But the place where the real money is - selling oil - is all controlled by the government and not available to the Nigerian people.

Right now, I'm reading Daniel Yergin's book The Prize which is a history of the global oil industry. I'm only up to about the end of the 19th century. It's interesting to read about how oil drilling started in America. Anyone with some money and some knowledge of how to drill could get land and drill for oil. The money they made stayed in their pockets. It was a booming business and made many people very wealthy. That was made possible by one thing: property rights. If you bought a piece of land, you were entitled to the profits to be earned from it's use.

Those profits, in turn, were invested in communities. The people who made the money off of oil built houses, paid taxes, and fed the growth of communities. They employed people. New businesses had to move in to support production: transportation, fabrication, you name it.

But in Nigeria, that doesn't happen. The oil companies pay their roylaties to the Nigerian government, and the oil is then sold. The royalty money follows some circuitous path through the central government, and ends up getting pissed away on cronies, families, boondoggles, and other wasteful things. It doesn't make it down to the level where it could make a real difference, like it did in America in the late 19th century. The state claims control over resources like oil in the name of the people, but the people don't benefit.

And so it goes. In so many places - Saudi Arabia, Iraq, Nigeria - the vast wealth of a nation is seized and exploited by elites ruling from the barrel of a gun. These elites are supposed to be defending their people and leading them towards a brighter economic future using the natural gifts of their nations. Instead, they're enriching themselves on the backs of their people. Just another one of those immutable truths: there can be no prosperity without freedom.

16:25 Link to this blogging

BOOMIN'

Did you know that US GDP grew 5.8% in the first quarter this year? I find that astounding.

Think about everything that's happened - the horrifying loss of life, wrecked businesses, billions in property damage. And yet we keep on keepin' on. Amazing.

The OPEC ministers are collectively licking their chops over this news, I'm sure. All of the benchmark oils are over $26/bbl, some over $27. And demand will likely grow further. I'm really doubting that we'll see any increase in production quotas at the June meeting - there's too much money to be made now, and after all, they have a terrorist campaign to finance. There's a famous quote running through my head, something about selling ropes...hangings...

16:22 Link to this blogging

STUFF ON AARON BROOKS

There's an article in today's T-P about Aaron Brooks, Saints QB. The important line came right at the end, this quote from Brooks himself: "I'm a lot smarter after last year."

I certainly hope so. His decision making certainly couldn't get much worse. Last year's offense was completely inconsistent, and that had a lot to do with Brooks. His abilities went a long way, but he ended up leaning on his talent too much. He kept trying to win the game on one throw. I remember one particularly bad choice he made, throwing up a duck into the end zone as he was being sacked. It got picked off, predictably. I think it was during the Jets game, not sure. That line from Bull Durham about the million-dallar arm and 10 cent brain definitely came to mind.

This year, he has to be smarter, and it's reassuring that he recognizes that. I think the offense has real potential, especially in the passing game. Consider Brooks' big arm, and Stalworth's speed, and that's a real deep-ball threat that the Saints have lacked. If they can use him to attack the safeties, that should free up space for Horn and Pathon underneath. They also have David Sloan, a reliable tight end, and Deuce McAllister, who at least seems to have the potential to get a lot of yards on the ground and catch the ball out of the backfield. That's a lot of weapons.

The key to making all of that work is Brooks. He has to be more patient and wait for his opportunities. And with the weapons he has, he will have opportunities. If he doesn't force things and picks his shots carefully, I think the Saints will be able to score a lot of touchdowns. On the other hand, if he didn't learn anything from last season, then the Saints are screwed.

13:16 Link to this blogging

JUST FOR THE RECORD...

...I really shouldn't complain too much. At least I didn't get shot 11 times.

12:21 Link to this blogging

COST OF LIVING IN NOLA II

Apparently, my truck is now a magnet for every crack addict, road hazard, and drunk driver in New Orleans. I feel cursed.

Last night, I took my lady friend and my guests from out-of-town out to Kelsey's for dinner. We had a great time - good food, good wine, good conversation. I really like that place, and I haven't eaten there in forever, so it was nice. The young woman and I split a fried eggplant drum stuffed with seafood served over mashed potatoes. Awesome. We left there around 10:30, and I decided it would be best to just park my truck at my girlfriend's place and walk down to Magazine St for some more drinks. She was tired and going to go to bed, so I said goodnight and told her I'd be back later to sleep on the couch. I do that sometimes if we're out on Magazine so as to avoid driving home in a non-sober state. After all, the Bulldog and the Balcony are only 4 blocks from her place, and it's a safe area to walk.

Too bad not everyone thinks that way. We were out at The Balcony until about 1:30, and I walked back to her place and crashed on the couch as planned. I was out cold - didn't even hear her leave this morning. I got up around 7:30 and was going to head home to shower and get dressed for work. The truck was parked on the left-hand side of the street (it's one-way) with the driver's door on the sidewalk side. I got in, and as I was about to start the truck I noticed a note with "New Orleans Police Department" written on it stuck under the wiper blade. My first thought was that I must have parked illegally or something, but it was the wrong color for a parking ticket.

I got out and looked at the note. It stated that my truck had been sideswiped around 5 am and that a police report had been filed. I walked over to the passenger side, and sure enough, down low, where I had not noticed before, was a nice long dent running from just ahead of the right-rear tire to just behind the right-front. The tires were nicely scuffed. Pretty significant, and it managed to hit 2 panels and the passenger door. I'm going on the assumption that it was a drunk driver, because apparently, other cars were hit, and it's a wide-enough street.

I tell you, I nearly screamed. I'm just so sick of this bullshit. I cannot begin to describe my frustration. I feel like a big target. To put it simply, it's either leave this f'ing town or sell my vehicle and just walk every damn place, because this is good for neither my mental health nor my wallet. OK, so I'm not wanting to leave here - I like stuff like Kelsey's, my job, The Balcony, Jazz Fest, and other stuff too much to want to leave just yet. But it's getting harder. There's the $450 damage to the driver's door so some jackass could take $2 in coins out of my armrest. Then the cut tire set me back $100 to replace it and get it mounted and balanced. And now this. Three incidents in less than 6 weeks.

So I'm now officially driving what you might call "a beater." My truck looks like ass. It looks like it's been in service in Afghanistan for the last 5 years. And just when I had it paid off. I guess I can be a bit philosophical about it, since I had kind of figured that I would probably keep it until it absolutely dies - even if I buy another car, it's good to have a truck around. And I'll probably still do that. I guess all the damage will just give it personality. I should get a "Don't Laugh, It's Paid For" bumper sticker.

10:22 Link to this blogging

LITTLE BIG HORN

Listening to talk radio in New Orleans today, you would think that Joe Horn had just set Randy Mueller's house on fire while pouring sugar in Jim Haslett's gas tank.

Oh the outrage. Suddenly, Joe Horn, the most productive wide receiver in Saints history is no longer a team player, is selfish, and is hurting the club. All because he ranks seventh among wide receivers in the NFL right now in terms of production over the last two years, yet is making half of what those guys make. Whether you like sports salaries or not, Joe has a point. And reading what he actually said, I just don't see how he can be made out as such a villain here. He's doing what any sane person in his shoes would do: hold out for what he's worth.

Sitting out of training, of course, is a bit different, as that does hurt the team. But this is a tough situation. Horn deserves a raise, but the Saints need salary cap room to extend Brooks' contract and to sign their draftees and free agents. There's not much room here for Joe. But there needs to be. Stalworth has talent, but he's unproven. Pathon is probably about as good as Horn, all things considered, but there's no proof yet that he will work within the Saints offense. If Pathon gets hurt or Stalworth is a bust, the Saints are going to have to look to Joe Horn. This deal needs to get done.

18:11 Link to this blogging

SPAIN PREVIEW

A lot has happened since Imola. Jordan is cutting staff, and Honda is hinting at dropping them. Ferrari has been accused of cheating. Renault and Williams are upbeat, while McLaren seems to be quietly pondering their next move.

McLaren has looked good at Barcelona in the past, but I think the Ferrari F2002 will put an end to that for now. It's a tough circuit to pass on, unless you're exceptionally creative (Montoya and one or two others). Qualifying will be crucial.

It's important for the Williams drivers to score well here. With Austria coming up, a track where the BMW plant should shine, they have a chance to stay on pace in the fight. But they can't fall too far behind now.

Another thing to watch: will the FIA pay extra scrutiny to the Ferrari's barge boards?

17:56 Link to this blogging

THE RUMBLE AT THE RANCH

Let's see if we can make all of these stories fit together. First, there are these comments from the International Energy Agency claiming that OPEC must raise prices or risk stalling the global economic recovery. In that same article you have comments from the Qatari oil minister saying that OPEC will take some sort of "vacation" from increasing production during the ongoing violence in the Middle East.

Next, you have this story claiming that even if the Saudis wanted to use the "oil weapon" against the US, they couldn't, because it would destroy their economy and bring down their government.

So why, then, do we see crap like this? Crown Prince Abdullah, de facto head of Saudi Arabia, is threatening to end the "strategic partnership" between the US and Saudi Arabia if the US does not change it's approach towards the Israeli-Palestinian conflict.

All of the above articles point to the suicidal nature of the Saudis ditching the US, and yet Crown Prince Abdullah wants us to believe that he is prepared to do exactly that. If he's bluffing, then it's for his domestic and Arab audience. If he's serious, then obviously he thinks that by asserting that the Saudis will impede any US moves against Iran and Iraq, that the US will choose to pressure Israel to give in to demands for "right-of-return" for Palestinian "refugees."

Fat chance of that. Then what? Probably not an outright embargo, but rather a phony one, where OPEC nations simply refuse to raise production quotas in an effort to hurt western economies right when they are recovering. They can claim innocence while hurting us at the same time. Meanwhile, they'll all cheat on their quotas and rake in the money when prices hit $30/bbl. The US may also lose Saudi basing rights, and the Saudis may encourage Kuwait and Qatar to follow suit. It's going to be an interesting meeting in Crawford.

17:55 Link to this blogging

SAINTS? HORNETS? URGENT. MILLENIUM PORT? YAWN.

Governor Foster surprised the hell out of some local lawmakers yesterday in a Q & A session. For about three years now, the state has been examining the "Millenium Port" proposal for Plaquemines Parish. If local lawmakers are to be believed, there is the potential for $500 million in investment from private enterprise. They also claim that investment from local government could generate up to 4 to 1 federal matching funds. They're salivating.

Except that Foster seems to have suddenly lost interest. Foster made a comment to the affect that some analysts believe that container traffic through Louisiana's port system may remain at current levels for the next 20 years, making upgrading and expanding the facilities to attract business no-longer a priority. I'm not sure I'd adopt that view, especially since Bush's steel tarriffs are going to hurt the port as it is, and the competition with Houston is serious. Better to make the move now when there is some momentum and the opportunity to win back some tax money from DC to create some jobs.

This raises the question: why the hell is it that Foster seems to believe that keeping the Saints and gaining the Hornets are legislative priorities, but he seems inclined to let a unique opportunity to strengthen and expand the port during a critical time slip away?

15:22 Link to this blogging

KICK IT ONE TIME, JONAH

A high-quality rant from Jonah Goldberg, editor of National Review Online, touching on some of my favorite topics: slippery-slope-ism, campaign finance reform, and whining from the anti-war lefties at The Nation.

15:17 Link to this blogging

SEGWAY NOTES

You've probably all heard of the Segway, the two-wheeled personal transport device created by inventor Dean Kamen. In case you have not, the Segway (known as "Ginger" during it's top-secret development phase) is a battery-powered personal transport which uses 5 gyroscopes to balance the rider on two wheels. It can move at speeds up to 12 mph, and is controlled simply by shifting the rider's weight forward or backwards.

I found two links - here and here - describing a personal experience recently from a user. It sounds a lot better than I had originally imagined. The author even mentions that special ops units are playing with suped-up verisons right now.

It seems to me that the Segway is aptly named, and I think that's deliberate. The future of transportation probably looks more like the Segway than these hybrid cars that the Federal Government has been shovelling millions of taxpayer dollars into Detroit rat-holes to develop. The Segway itself is not the answer - though I think it will find many applications - but the technology it demonstrates could cause a transportation revolution in the next 15 years.

11:05 Link to this blogging

BACK AT THE DESK

Yesterday was a busy day. The Firestone store was slow, slow, slow. By the time I left it was lunch time, and seeing as how my day was already slipping away, I decided to drive out to Metairie to have the damage to my driver's side door assessed. Cost: $450. Less than my deductible for miscellaneous damage. I'd have been better off getting hit by someone.

After that, I went to Lowe's to secure some additional PVC to improve my Jazz Fest flag pole. I also swung by KMart to get stakes and cord. That pole isn't going anywhere this year. I got home intending to do laundry and cook dinner, except that the damn power went out for an hour. Having nothing to do otherwise, I went to the gym. Ended up being a late night as I finished my laundry, and my first Jazz Fest guests arrived around 11. It's going to be a busy weekend.

11:02 Link to this blogging

THE COST IF LIVING IN NOLA

I'm off to the store to replace a tire. Second flat I've gotten in over two years of living here - not surprising given how much glass and other debris sits in the streets for weeks without being cleaned up. Irritating.

08:30 Link to this blogging

WHAT QUOTA?

CHeck out this report on OPEC nations blowing past their production quotas in March by almost half a million barrels per day. With prices climbing, OPEC nations naturally like to slip out a few extra barrels for a little extra profit. Not that they admit to it - none of them publish actual production numbers, and the output estimates are based on tanker traffic. The extra production is not likely to impact prices too much.

08:20 Link to this blogging

PLATFORM POLLUTION II

A study commissioned by the American Petroleum Institute found that - suprise! - mercury levels in fish near platforms were no higher than fish far away. See? No problem.

Seems like we're never going to have an answer to this without an independent study. Not that I doubt API's credibility. I have to design stuff to their engineering standards (which are for the most part based on AISC) and those are just fine. But the "follow the money" atmosphere we live in these days automatically taints anything they have paid for, whether it's accurate or not. Of course, who could do a really independent analysis is a good question.

08:03 Link to this blogging

LE PENNY FOR YOUR THOUGHTS II

So let me get this straight. For the past few weeks, there have been all kinds of anti-Semitic attacks in Europe. Synagogues have been assaulted and burned. A jewish youth soccer team was attacked by thugs. Police in Berlin had to apologize for advising Jews not to outwardly display signs of their faith after two recent attacks.

How much do you hear from the EU elites about this? Hardly a peep. But gee, as soon as 17% of French voters go for a guy who is anti-semitic and also happens to be anti EU, you'd think that the French had just taken a big stinky dump in the EU parliament's collective cornflakes.

I don't hear much vitriol being directed at respectable members of EU society who seem to think that Israel, and Jews by extension, are entirely to blame for the trouble in the Middle East. In fact, it's easy to get the impression that it's OK to bash Jews and Israel in Europe these days. The EU has moved towards placing sanctions on Israel, and has turned a largely blind eye to the wave of violence directed at Jews in Europe in recent weeks. Remember the stories from the British press last week about the Jenin "massacre?" No evidence, no balancing opinions, just hyperbole and hysteria.

European politicians are cozying up to the immigrant vote. The reason has everything to do with the increasing size and significance of voting blocks of Muslim immigrants. Those immigrants are not assimilating, but they must be courted to win elections. And oh by the way, they have a virulent, irrational hatred of Jews.

Le Pen is going to get crucified in the European press, while the left moves to isolate Israel and leave it to the mercy of bloodthirsty dictators in the Middle East. They are going to hang Israel out to dry for the sake of appeasing the monstrous hate of their Muslim immigrants - appeasement being something European politicans excel at. If we follow that path and isolate Israel from the aid it needs to defend itself, there will be a second Holocaust as the madmen who lead the Arab world try to drive the Israelis into the sea.

None is this is to defend Le Pen. Nobody should be president of any country after saying the things he has said. In other words, he's just like his opponents. Lionel Jospin, the socialist he knocked out of the election, has never renounced his communist past and his support for the Soviet regime that murdered more than 30 million of it's own people in Gulags and pogroms.

I say it with all due contempt: France and the EU didn't ask for Le Pen. But they certainly earned him.

20:24 Link to this blogging

LE PENNY FOR YOUR THOUGHTS

I have some things to say about this situation, but not right now. Suffice to say that it's a fascinating development, and it says a lot about the situation not just in France, but in the EU generally. More on that later.

17:24 Link to this blogging

IT'S A DANGEROUS BUSINESS

The jackup rig Noble Lloyd Noble, under contract to ChevronTexaco on block OML 90 offshore of Nigeria, has been boarded by youths and 43 crewmen are being held hostage. Another 45 crew have been released.

17:21 Link to this blogging

RICKY WILLIAMS SIGNS WITH THE SAINTS

No, not that Ricky Williams, the other Ricky Williams. The guy from Texas Tech. The guy who outrushed The Dredlocked One his sophomore year. The guy who can actually catch a damn pass.

The guy who is only 5'-7". That's a problem.

Three running backs are among the rookie free-agents expected to go to Saints mini-camp this weekend. Williams is the first to sign. He has a good chance to make the team, as a running back who can reliably catch passes has been missing from the Saints offense. I agree with the old maxim that you can never have enough running backs.

Also in that bunch are two linebackers, two defensive tackles, and a safety. The only other offensive player is a tackle. The emphasis is definitely on the defensive front right now, as it should be.

17:11 Link to this blogging

TAX MANEUVERS

Governor Foster will roll out a plan as the regular legislative session starts Monday to extend and retire several tax provisions. The measures, which currently are labelled "temporary" but which have been renewed every 2 years for the last 16, would be approved for a full 10 years without further votes, but also gradually phased-out over that time.

The taxes add up to almost $600 million annually, which is why they keep getting renewed - they amount to too much to be cut all at once. After being mostly phased out, they would add up to about $90 million annually. The plan assumes 3% annual growth in other state revenue. The plan got a generally warm reception from legislative leaders, who feel it will improve the state's bond-financing rating and provide some business-stimulating tax relief.

There are some complaints. The cuts are not steady, but rather take place only in certain years and in increments of 10% to 20%. That means that in a bad year, the state could find itself suddenly in a $50 million budget hole. The plan is also criticised for not addressing taxes on utility use by businesses.

The biggest complaint may be more philosphical: that the state needs a wholesale restructuring of it's tax code, not the tweaking seen in the special session earlier this year, or in this proposal. I certainly agree with that position. But sometimes, baby steps are all you can take. This will take a few weeks to sort out, and I'll be watching.

17:09 Link to this blogging

VENEZUELAN IMPORTS RESUME

With oil imports resuming from Venezuela this week - up to 1 million barrels per day - it seems that US oil stocks may eventually level off after hitting a three-month low.

If the Venezuelan unrest really is over - as it appears to be - then it is possible that US stocks of crude will be sufficiently buoyed for a relatively mild summer gasoline season. There's still the issue of OPEC succession which could turn into a market-churning brawl at the end of June, an unpropitious time for those kinds of things.

But how much will US demand increase in coming months, and how will that stack up with OPEC's so-far uncaring attitude towards rising prices? We'll just have to wait and see.

14:35 Link to this blogging