bills_fan

A couple of things, and I am by no means an oil industry expert, so any corrections are welcome... I can see five solutions to the present problem. They should all be done simultaneously. Taken in tandem, they should reduce the price significantly. 1- Increase Supply. - The world's daily output of oil has not changed since 2005. The amount of oil has remained stagnant, while industrial demand from India and China has increased. Domestically, we can tap sources such as the gulf coast and ANWR to increase our supply, reducing our need to import. We can (and are) developing technology to tap our oil shale resources. Any increase in supply will lower the price. 2- Increase the Margin Requirements for Traders. - Traders currently have very little margin requirements, the amount of money they need to put up to purchase an oil futures contract. You can have $5 controlling $100 worth of assets (and worse in some instances). If the margin requirements were raised such that $20 was necessary to control $100 worth of assets (as in most other types of securities), the price would drop, as you need more cash to accomplish the same speculation. This is known as closing the "Enron" loophole. 3- Increase Refining Capacity. - We are woefully underserved as nation in refining capacity. No new refineries have been built in over 20 years (although one town in either Montana or Wisconsin has voted to build one very recently). This is due to a combination of very difficult regulatory requirements and NIMBY. If the regulatory requirements were streamlined, I have often thought that a refinery or two could be a great boost to the local Buffalo economy. 4- Continue to develop real alternative energy sources. - I use the world real to knock the ridiculous ethanol out of the argument. Nuclear, marine and wind power can all help ease the burden but research into developing the hydrogen fuel cell should become a very large priority. 5 - Strengthen the US dollar. - The Fed has let the dollar get shamefully cheap. This forces the price of oil up as oil contracts are traded in dollars, hence the hedge (would you rather own oil contracts or dollars?) I don't attribute it to Bernake because he is still cleaning up Greenspan's mess. Greenspan could really have been the worst Fed chairman in several generations. Creating conditions that lead to speculative bubbles is not a recipe for sustainable economic growth. Greenspan's Fed led to two massive bubbles (equity and housing). Bernake, in seeking to mitigate the housing bubble, has created a commodities bubble. The recent language regarding interest rate rises later in 2008 is a very positive sign, even though it could hit the brakes on the overall economy. Any suggestions of windfall profit taxes is, IMHO, ridiculous. Yes, oil companies make large profits. They also happen to be some of the largest US corporations and pay some of the largest taxes in the country. They are already investing heavily in R&D, and would invest more if they were allowed to drill the gulf coast and ANWR.

Only part of what you said that is wrong. Frank Clark, the ECDA, is retiring at the conclusion of this term. He will be out of office. His only interest is his buddies. Clark is backing his hand-picked successor, Frank Sedita III. Clark has a real interest in making sure that all of his mediocre cronies keep their jobs as bureau chiefs under Sedita. (Everyone knows that Sedita's opponent, Ken Case, is going to clean house.) Clark delivered Sedita the Democratic Party endorsement for this consideration.

True, and both parties have devolved into partisan bickering over this issue. Last week, the Senate rejected a Republican bill that would open up areas of ANWR and costal areas in certain states for drilling. This week, the Republicans block a Democratic measure that would have contained a windfall profits tax (bad) and placed limits on traders' ability to speculate without committing more of their own assets (good). So both sides present some viable alternatives, add in some dealbusters that will assuredly force the other side to kill the deal, just to place blame. Meanwhile, gas prices rocket towards $5, I just paid $832 for 200 gallons of home heating oil in the offseason, and American consumers are f*cked. Hence the reason I am against any bill to increase the size of government in any way, shape or form, without first making corresponding cuts. Fuggin' ridiculous.

LOL!

Maybe he does know wheo was driving, but perhaps he does not. What if ML was drunk and passed out in the backseat? What if ML did the responsible thing and nominated a buddy to be a designated driver? If a buddy was driving and took off without ML's knowledge, you going to hold him culpable? Also, you may say...Well ML would know who was driving and then could say something to the cops? Guess what...he may not have directly observed the driving or accident if he was passed out drunk in the backseat and only learned the identity of the driver later on in the evening. In that case his testimony would be worthless, as it would be hearsay. Finally, what if the driver was his brother (if he has one) or a close family member? You going to turn in your family? You may ask them to do the honorable thing, but you won't turn him in. Lots of possibilities here which is why anyone jumping to conclusions without all of the facts is presumptuous.

I'm not disputing that, assuming you mean the driver, whoever that may be.

I would disagree with this entire statement. A criminal record is certainly a very big deal in today's society. A civil suit is certainly much less of a deal. What, so ML can't get car insurance? Big judgement against him or the other passengers...declare bankruptcy if you can't pay it. Its discharged. A criminal record...never goes away.

I sprung for the Tower Suite, because I figured I wouldn't be back for a while. It is the turret room, overlooking the whole grounds. Gorgeous and romantic. We were there for 2 nites and it wasn't so bad, price-wise.

Of course it could...there are only 3-4 people alive who know the identity of the driver. They were all in ML's car. There is NO CASE without cooperation. There are no reliable witnesses, forensic evidence will not yield much if anything. They keep their mouths shut (as you should do in a criminal case), and there is absolutely NO CASE.

Why? The guy gave us our 2nd appearance in the SC Finals and a shot to win it. I lived in Buffalo during 97-00, it was a very exciting time for the Sabres, and Hasek made it possible. The guy was all world, Hart/Vezina Trophy winner. He forced his way out, but was merely a shell of his former Dominator self by that time. He wanted to win and our mgmt was headed way downhill. Kind of like Ray Bourque with Colorado. I have no problems with the guy. Also, I know he was a lousy drunk and BPD had someone follow him and give him rides home, but so what. He did a lot of good for the city and the community (via Hasek's hereos). If there is something I don't know, please enlighten me (and no, not with unsubstantiated rumors of Ted Nolan's wife). But it seems to me that the guy was solid all the way around and a very good Sabre.

Call it what you will. I'm only commenting on the legal proceedings. I will withhold my own personal judgement until I know all the facts (which may be never).

Who would have thunk it....witnesses outside of a bar at 3 AM, likely having imbibed at least one alcoholic beverage, on a dark corner of Delaware and Chippewa, looking at a tinted-window SUV making a left hand turn onto Delaware, could not credibly identify the driver??? I'm shocked...shocked, I say.... The ONLY ones who know the driver's identity, and can testify to it (ie not hearsay) are the individuals who were in the vehicle (unless one or more was passed out drunk). If they all shut their mouths, there is NO case.

Belhurst Castle in the Finger Lakes. 1 hour away from Rochester. Great local wine, great food and a real nice place. Took my wife (then g/f) there for a weekend. It was terrific. http://www.belhurst.com/

Touche Hogboy...nice job.

And you *know* this because you were there? Or have you been jumping to conclusions again....

LOL Where are you Simon & Lori? Help us...stop the lunacy!!

Seriously people...ever hear of presumed innocent? Some of you jokers are ready to lock him up off a press report and conference? Are you f---- kidding? And you wonder how the Duke lacrosse rape charge got so out of hand. Don't you f----- people learn from your mistakes? Let me start... And you know this how? Because his car was accused of something? Again, because his car was accused of something? Nothing wrong with what ML is doing right now. There is procedure, you don't win this kind of case in the court of public opinion and generally can only make it worse for yourself (see Clemens, Roger). The obligation rests with the State to prove ML's guilt beyond a reasonable doubt. ML could never speak about this incident again in his life. Changes nothing. I'll answer in order... 1- She lay there for about 15 min. The corner of Delaware and Chippewa is one of the busiest in the city at 3 AM. Cops would have been there within seconds if some one had called. 2- I passed one of those Porsche Cayennes today, on Water street in NYC. Dude was sitting at a lioght, so as I crossed the street, I said nice tint job, did it come like that? He says, yeah. Guess what, noone saw ML driving when that girl was hit. Witnesses may have seen ML climb into the driver's side of that car, but at 4 AM, with the glare from the streetlights (trust me, I know this corner), and the tint on the Cayenne, noone saw him driving. There is almost no angle possible for someone to be positioned and make a positive ID on the driver from anything less than 50 feet. Ain't gonna happen. 3- Not that night, but I've been on that corner many nights. There are several bars and Spot Coffee over there. 4- No, I don't. But I want to see justice served. If he is found guilty by a jury of his peers, then, by all means, sentence him and let him pay his debt to society (and the girl). If he is found not guilty, then everyone in this friggin thread better enjoy their crow. Ridiculous. I'm real glad some of you jokers were not around when the Constitution was drafted. God help us all.

Re-read my post. I don't think any eyewitness at 4 AM on Chippewa Street can positively identify ML as the driver of the SUV as it clipped the girl. Its dark, the windows are tinted by the manufacturer and may have more tint that ML put on, and the eyewitness likely had at least one alcoholic beverage. Also, the eyewitness came forward days later. Any defense attorney worth his salt will likely be able to discredit this witness. I think the police know this and that is why ML has not yet been arrested.

Wait a second, I drink while playing softball. Thats still a sport...

Especially when said witness offered an eyewitness account outside of a bar on Chippewa at 4 AM, positively identifying ML as the driver from the other guys in a window-tinted SUV at night. Yep, no credibility issue there.

You really want to man up and take the torch....do the pig roast. Perfect for the opener (great weather) and any night games (don't have to get up so early).

Set up a spit and roast an entire pig or lamb. It takes about 4-5 hours over charcoal...but oh sooo good. We did that for the Monday niter.

Whoops, my bad.

Noone has worn 32 or 67 either, to my knowledge.

If you only knew how funny that statement is. In law school, I used to work for Paul.