Estimated read time: 2-3 minutes
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One ...
OK ... it really is no joke. You try to get people to acknowledge this Fourth of July might not be all that because of the economy, weather, gas prices ... and they really paint you as a communist. You wouldn't believe the hate mail from the July 3 story, which was well intentioned to be tongue-and-cheek. Even in the interviews I did for the story ... one guy looked like he half-way wanted to murder me. The other guy basically told me he was Chinese and he even appreciated Independence Day, so what was my deal! It is reassuring to know people still care.
Two ...
I'm really not a market expert ... but ...
Three ...
If you're not a speculator and you care about how much you're shelling out for gas every month, it would seem to make sense to buy into the idea of a long liquidation-only futures market. A prominent writer on the markets and even my friends and family in the business say that in theory would effectively take the speculative premium out of oil ... probably in a matter of days to weeks. It wouldn't require an act of Congress. All that would have to happen is for the Commodity Futures Trading Commission to make a move. And there's a historical precedent for this. A similar action was taken with silver futures in the early 1980s.
And ... Four ...
Cars that run on compressed natural gas seem tempting for the money you save at the pump. People are still paying less than a dollar a gallon for that stuff. But after the story I covered today, it was easier to see the inconvenience of it. Not only do you have to drive potentially miles out of your way for a natural gas station, the pumps may be low on pressure when you show up. What does that mean? You don't fill completely up. Questar is acknowledging the problem, but is calling on the private sector to take advantage of the market and create more infrastructure. The shocking stat of the day has to be that demand for CNG in Utah has gone up 220 percent since last year.
Five ...
If Carlos Boozer really is eyeing a move to the Heat as many league pundits suggest, I still don't understand why draft day came and went without the Jazz making a move. Not that I'm the league expert ... but it seemed like somehow the Jazz could have moved Boozer and their first rounder to the Clippers in a sign-and-trade for Elton Brand and their #7 pick. The Clips could have moved Boozer to Miami for Michael Beasley, a guy they reportedly coveted highly, and several other players to make the money work. Then the Jazz not only get value for Boozer ... they get a replacement inside presence.
