Daily Archives: May 25, 2004

Stros break losing streak

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Roy O had his game face on tonight and gave up only three singles in seven innings as the Stros broke their five game losing streak in beating the Cubbies, 5-0. Lance Berkman cranked his sixth dinger in eight games, a two run shot off of Astro-killer Carlos Zambrano to the Conoco Porch in the left center of the Juice Box.
Andy Pettitte takes the hill on Wednesday evening as the Stros go for the two game sweep against the Cubs’ Greg Maddux. After an off day on Thursday, the Rocket opens the weekend series with the Cards at the Juice Box.

A logical SPR policy

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Blogging time is restricted for a couple of days, but Arnold Kling’s TCS piece on the Strategic Petroleum Reserve is quite good, as is his blog’s follow up piece. Arnold sums up his theory regarding the SPR as follows:

It should be the responsibility of the private sector, not the government, to obtain insurance against oil market disruptions. The SPR has introduced government into the oil market as a destabilizing speculator.

Arnold also provides an excellent explanation of the concept of backwardation in regard to the price of oil.