Last night on The Daily Show with Jon Stewart on Comedy Central the guest was John Hockenberry, the author of a recent Wired article on Military Blogs. Hockenberry discussed the phenomena of blogging—and other advances in non-hierarchal information processing—available for the first time in the current military conflict in Iraq. Fascinating stuff, especially considering that it aired in Prime Time on the Daily Show, something that is quickly becoming (in my opinion) both Main Stream Media REAL news, and the only part of Main Stream media that I regularly take the time to watch.
My recent article “Rhizome” is, I think, very salient to this topic. It will be published next month by the Institute for Politics, Democracy and the Internet in “Politics To Go”, which now has its own web page up.
In other news, as I write this Light Sweet Crude is trading at $65.50 a barrel. I recently (finally) put my money where my mouth is on this one with one CLZ07 call option, at a strike price of $80/barrel. I don’t honestly know if the dramatic disparity between increasing and inelastic demand and level or decreasing supply will precipitate a crisis this Fall, or when exactly, but I have no doubt that it will happen, and soon. Right now, however, this disparity, coinciding with Greenspan feeling secure enough in the US economy to embark upon a long-term program of interest rate hikes suggests to me that price has a long, long ways to go up before it destroys sufficient demand to return to a lower equilibrium. The bottom line is that oil is still quite cheap to produce—but we are more and more fixed on exactly how much we can produce. The whole issue will “tip” when people finally realize that this is not a temporary problem created by refinery capacity, or temporary supply shortage until new projects come on line. When that realization tips, prices will spike. The next realization—that a general peak in energy coupled with our lack of foresight will lead reversing our general expectation of economic growth to a new general expectation of economic contraction—will lag behind a few months, allowing for profit taking.
“Islands” are expensive, whether real or conceptual. And they will only go up in price. Buy now :)
Oh, and Simmons has a new presentation out.