Following on this thread of posts over the past month, natural gas for November delivery rose 20.7 cents to a record $14.224 per million British thermal units on the New York Mercantile Exchange Tuesday afternoon after Interior Secretary Gale Norton warned it would probably take months before repairs to oil and gas production facilities in the Gulf of Mexico region would return production from that key region to normal. The Minerals Management Service reported that Gulf oil and gas production remains severely restricted, with 90% of the oil and over 70% of natural gas still off-line now a week and a half after Hurricane Rita came ashore.
The gas market was already stretched thin by heavy demand from power generators over the summer, but the double whammy of damage to production facilities from Hurricanes Katrina and Rita over the past month have jolted the natural gas market. As a result, futures contracts on the Nymex have nearly doubled since late July. The one good piece of news from the oil and gas markets was that crude oil, gasoline and heating-oil futures continue to weaken in the face of high pump prices and resultant diminished U.S. gasoline consumption in recent weeks. Oil futures fell for the third straight session on the Nymex as November light, sweet crude-oil futures slid $1.57 to $63.90 a barrel, the lowest price since mid-September.
Daily Archives: October 5, 2005
Is this all the better that the WSJ can do?
I recognize the Wall Street Journal’s John R. Emshwiller has already cashed in on the Enron saga. But even that reason for wanting to move on to something else cannot explain this tepid ($) article on the prosecutorial misconduct that has tarred the Enron case and is now the subject of a pending motion to dismiss the criminal charges against former Enron key executives Ken Lay, Jeff Skilling and Richard Causey.
Although Mr. Emshwiller notes some of the allegations regarding prosecutorial misconduct in the pending Lay-Skilling-Causey motion, he inexplicably ignores compelling evidence of misconduct that has already occurred in other Enron-related cases, including the fact that such misconduct has already contributed greatly to the unjust conviction of at least four men. Meanwhile, Mr. Emshwiller’s article even suggests that the Enron Task Force is on the side of the greater public interest in requesting public disclosure of the confidential sources of information relating to prosecutorial misconduct that has provided under seal to the judge in the case, but then fails to explain how such confidential sources could be protected from Task Force retribution if they were publicly revealed and fails to report that it’s been the Task Force that has continually attempted to suppress evidence that would be helpful to the defendants in the only Enron-related criminal cases that have actually gone to trial.
My goodness, has the presumption of guilt toward any Enron-related defendant reached the point where even the nation’s leading business newspaper has simply dispensed with even reasonably detailed or at least balanced reporting on the case?
Stros 2005 Review: National League Division Series Preview
Didn’t we just preview a series between these two teams?
For the fifth time in less than a decade, the Stros and the Braves — two of the most successful National League clubs during that era (see this timely Wall Street Journal ($) interview with Atlanta GM John Schuerholz) — meet in a post-season playoff series. The Braves have won three of the previous series, but the Stros won the one that means the most to this series — i.e., the most recent one last season.
Interestingly, both the Stros and the Braves are a different type of club than they were last season, and they are quite similar teams. Each team has several strong hitters, but both clubs are below average hitting-wise overall with the Braves being slightly stronger in that department. Similarly, both teams have strong pitching staffs, although the Stros are stronger than the Braves in that department. Overall, both clubs have a combined RCAA/RSAA score of around 70, so these are evenly-matched clubs. Indeed, the Braves won just one more game than the Stros during the regular season.