July 24, 2008

‘The Case Against Mitt Romney’ Collection (072408)

The case, in one sentence — Mitt Romney’s constitutional subversion and poor economic stewardship while he was governor of Massachusetts; his risky and unvetted foreign, business, and political entanglements; and his conduct during the GOP primary campaign make him an objectively unfit and unacceptably risky vice-presidential pick for John McCain.

Don’t do it, John.

The Detailed Case:
- Part 1 — As Governor, What He Did to Massachusetts
- Part 2 — As Governor, What He Did to the Nation
- Part 3 — His Risky Associations and Entanglements
- Part 4 — His Disgraceful GOP Primary Campaign

Other Posts:
- July 20 — Mary Katharine Ham Should Trust Her Instincts (As Should We)
- July 19 — K-Lo Demonstrates the Delusion
- July 17 — Paul Weyrich Lays the Foundation
- July 16 — The Case Against Mitt Romney: Series Introduction

From the Primary Season: Feb. 4 — The Pre-Super Tuesday Comprehensive Objectively Unfit Mitt Romney Index
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UPDATE: At the Values Voter’s Blog — “Gregg Jackson makes some very serious charges against the conservative media establishment.”

UPDATE 2: My comments on yesterday’s disgraceful column by Ann Coulter are below the fold –
(more…)

‘Ask AP’ Writer Fails to Note Quick Retail Response to Oil-Price Drop

Filed under: Business Moves, Economy, MSM Biz/Other Ignorance — TBlumer @ 11:19 pm

AskAP071808.jpg“Ask AP” is “a weekly Q&A column where Associated Press journalists respond to readers’ questions about the news.”

Not surprisingly, given the deteriorating quality of their reporting, the journalists questioned sometimes give less than perfect responses.

One such example came last Friday from Adam Schreck, AP’s Energy Writer, at the end of a week when oil prices plummeted over 10% from their peak.

Reader Joseph Patterson from St. Louis asked Schreck this question:

I understand, to some degree, the raising of gasoline prices when the price of a barrel of oil increases. What I can’t understand is why we never see a significant drop in prices at the pump when the price of oil drops. Oh, there may be a penny less here or there, but nothing like the increases you see when oil prices go up. Why is that?

Schreck had the opportunity to correct Patterson’s false premise that “we never see a significant drop in prices at the pump.” But instead, he told Patterson that:

The cost of oil does indeed affect what we pay at the pump, but the process of getting it from the well to your gas tank takes time. Prices take a while to catch up.

….. As much as gasoline prices have climbed, the refiners and retailers would like to have raised them even more to cover their costs - but falling U.S. demand has made that impossible. And so, with an eye on their bottom line, they’re not likely to lower their prices all that quickly - even with oil prices declining sharply.

Sorry to burst your price bubble, Mr. Schreck, but prices did respond to the decline in the barrel price, and quickly. On Tuesday, I wrote that:

Cincy (Greater Cincinnati) gas prices are down about 4% from a week ago, and (not pictured) more like 5% from 8-9 days ago:

CincyGasPriceSnapshot072208

All 15 low-end listings at the site (CincyGasPrices.com) are $3.78 or lower.

Visiting that site again at 10 p.m., I’ve found that prices have plummeted even further in the past 60 or so hours (the chart is dynamic and may not have the same readings when viewed):

CincyGasPriceComp072508

All 15 low-end listings at CincyGasPrices.com are currently at $3.69 or lower.

In fact, if you look at the site’s overall price chart beginning on Sunday, July 13, you’ll see that the price drop correlates pretty nicely, after about a 24-48 hour delay, with the drop in the barrel price of crude, which closed at $145.08 on Friday, July 11:

CincyGasGraph072508

Considering the fixed costs of retail operations and fuel delivery, the 6% or so price drop is a pretty darned quick reaction to a 13-14% drop in crude prices.

Imagine that.

What Shreck and questioner Patterson don’t understand is that as much as retailers and refiners would like to keep their prices sticky in a falling-crude environment, competition greatly limits their ability to do so.

Patterson’s ignorance is unfortunately understandable, because journalists like Schreck have been misreporting from ignorance such as that just demonstrated in his “Ask AP” answer for all too many years.

Cross-posted at NewsBusters.org.

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UPDATE, 10:30 a.m.: The average price has dropped another 1.5 cents this morning.

UPDATE 2, 10:30 p.m.: Make that 4.4 cents. Now it’s at $3.74 flat, down 20 cents in a week about about 34 cents in two weeks.

Positivity: Pet rabbit hops to rescue to save owners from fire

Filed under: Positivity — TBlumer @ 11:01 pm

From Australia:

A pet rabbit has been credited with saving an Australian couple from a fire that started in their house while they slept. The rabbit woke its owners, Michelle Finn and her partner Gerry Keogh, by scratching on their bedroom door when smoke poured through the house in the Macleod area of Melbourne.

“Gerry only got home from work about 5.30 because he works a night shift and about 7am we both woke to the sound of a thumping rabbit,” Ms Finn told The Age newspaper in Melbourne. “We heard windows breaking at the back of the house and got up to see what was wrong and the house was on fire.”

Neighbours arrived with hoses to help before fire crews arrived. Firefighters said that a smoke alarm had been removed while the house was being renovated.

Ms Finn said that the pet, named Rabbit, was allowed to roam freely around the house unless they had guests. “It was very lucky for both of us,” she said. …..

Go here for the rest of the story.

Latest Pajamas Media Post (’Cooking the Books on Homelessness Stats’) Is Up

It’s here, with a good tease question:

Are there really 3 million Americans wandering the streets?

As you might guess, it’s not even close.

I will post the column here at BizzyBlog Saturday morning (link won’t work until then) under the title “SF Report Unmasks Overhyped Nationwide Homeless Numbers.”