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Wednesday, December 17, 2008
U.S. still avoiding the gas pump
The Atlanta Journal-Constitution
This is really remarkable. It was a surprise when gasoline consumption began to fall so sharply back when prices were high, but the fact it has continued to plummet with prices so much lower reflects profound changes in the economy and in travel patterns.
“NEW YORK - Retail gasoline demand in the world’s largest consuming nation fell 2.5 percent in the week ended December 12 even as prices at the pumps dropped more than a dime, according to a MasterCard SpendingPulse report released Tuesday.
Gasoline demand averaged 9.098 million barrels per day during the week, down 2.5 percent from the previous week and down 5.4 percent from the same week a year ago, according to the weekly report.
The decline in consumption came even as pump prices fell 11 cents to average $1.67 a gallon, according to the report.
U.S. fuel demand has declined in recent months despite falling energy prices as a financial crisis stemming from the soured housing market squeezed consumer spending and confidence.”
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Smoke rising from New Mexico
The Atlanta Journal-Constitution
From the Associated Press:
“ALBUQUERQUE, N.M. — A federal grand jury is investigating how a California firm that contributed to the political activities of New Mexico Gov. Bill Richardson, the nominee to head the Commerce Department, won a lucrative government contract.
A person familiar with the proceedings told The Associated Press on Tuesday that the panel is looking into possible “pay-to-play” dealings between CDR Financial Products and someone in a position to push the contract through with the state of New Mexico. The person asked not to be named because the proceedings are secret.
The proceedings follow an FBI probe in which investigators sought documents from the New Mexico Finance Authority. Investigators also interviewed former and current authority officials about New Mexico’s 2004 contract with CDR for the $1.6 billion transportation program.
CDR was paid a total of $1.48 million in 2004 and 2005 for its work, according to documents provided by the state.
Asked whether the probe focused only on CDR’s actions in securing or executing the contract, the person with knowledge of the investigation said, “It is more than that.”
CDR and its CEO, David Rubin, have contributed at least $110,000 to three political committees formed by Richardson, according to an AP review of campaign finance records.
The largest donation, $75,000, was made by CDR in June 2004 - a couple of months after the transportation financing arrangement won state approval - to a political committee that Richardson established before the Democratic National Convention that year.”
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Maybe Franken really IS good enough!
The Atlanta Journal-Constitution
Things were looking a little dire for Al Franken in his race for a Minnesota Senate seat, but now that a string of recent events and decisions have swung his way, his prospects have brightened considerably. Either way, the outcome looks destined to be decided by fewer than 100 votes.
As Minnesota election officials go through more than 1,000 challenged ballots, incumbent Norm Coleman has seen his margin shrink. The Minneapolis Star Tribune reports on a rather novel approach, giving its readers access to the ballots and seeking “the wisdom of the crowd” in determining their validity.
According to their story:
“The Star Tribune has performed its own analysis of the challenged ballots by relying on a virtual “canvassing board” of more than 26,000 readers who examined at least some of them. There appeared to be widespread consensus that Franken won slightly more disputes than Coleman, enough to theoretically erase the incumbent’s narrow lead by late Monday.
The Star Tribune analysis relies on readers who chose to respond to its Ballot Challenge on StarTribune.com, and there is no assurance that partisans didn’t distort the results. But large numbers of respondents from around the nation participated, and each of 15 respondents who viewed the largest number of disputed ballots gave Franken the edge by 3 to 5 percentage points. There was a broader consensus as well. Only 200 of the 6,500 ballots failed to draw a consensus from at least 75 percent of reviewers. Among the others, reviewers decided slightly more in favor of Franken.”
Of course, the official vote is all that counts. But the canvassing board seems to be reaching conclusions similar to that of Star Tribune readers.
“U.S. Senator Al Franken” — words to brighten Bill O’Reilly’s day, huh?
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