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JOHN DEUTCH: I hope—can everyone hear me, please? You're okay back there—in the back of the room. Welcome to this Council on Foreign Relations meeting. We are here today to discuss the release of the new report of this task force on National Security Consequences of U.S. Oil Dependence. This was an excellent task force, which has met over the past eight months and to produce a report on energy and security that we are here to discuss this morning.
Up here with me is David Victor, our able task force project leader, and James Rodney Schlesinger, former secretary of Defense, former director of Central Intelligence, former chairman of the Atomic Energy Commission, former associate director of the Bureau of Budget, and the first U.S. secretary of Energy.
And without further ado, I present you James Rodney Schlesinger.
JAMES R. SCHLESINGER: Thank you, John, for that brief and fulsome introduction.
DEUTCH: Can you—can you hear—(short pause for technical difficulties).
SCHLESINGER: Can you hear me back there?
AUDIENCE MEMBER: Yes.
SCHLESINGER: Okay. Thank you, John, for that brief and fulsome introduction. This is the Council on Foreign Relations that has sponsored this task force, and so our focus was on the burden on national security and foreign policy of energy dependency. And given the need to deal with the national security aspects, we, of course, wound up focusing on oil.
Since 1973 and the embargo of that year, we have been shadowed by our dependency, both in terms of our national security risks and in terms of the political effects here in the United States. Since 1973, we've had a good deal of chatter about energy independence. It has continued to be chatter. We have moved from 4 to 5 million barrels of oil a day imported to 14 million barrels a day. One of the reasons for that is the lack of sustainability of domestic policy that John will address in a moment.
As late as 1956, the United States had sufficient shutting capacity in Texas to carry not only this country, but our West European allies through the oil crisis with the closure of the Suez Canal, and we carried them through. That has disappeared. Lately, the—we have had an increasing burden on our foreign policy from oil dependency, and that is particularly true because the resources for oil are in the Middle East. As opposed to the Cold War period, in which troubles emanated from the Soviet Union, now troubles tend to emanate from the Middle East.
All of this has been reinforced by a shrinking availability of what is called easy oil, which means conventional oil. We have had declining discoveries for the last 40 years. Production has greatly exceeded any new discoveries. Today the world depends to a large extent on old oilfields discovered 40 or 50 years ago and are beginning—some of them are beginning to play out.
We are also in a position today that we are influenced by the dominant role of the national oil companies, as opposed to, in the past, the international oil companies, the seven sisters. The national oil companies are not necessarily interested in the world supply of energy, other than avoiding kicking the world into a recession, which would be a serious problem for them.
These issues that I've just mentioned have been reinforced in recent years by the disappearance of spare capacity. That is no coincidence, as we used to say in Moscow. It reflects declining discoveries. It also reflects market forces, in that in the 1980s we had excess capacity of about 10 million barrels a day, which did not induce much investment in expanding capacity.
Over the decades, we are going to face a rising oil price, reflecting the growing stringency of supply, but that is not necessarily from the presently experienced high levels of oil. The price will fluctuate. We will run into recessions, we will see some restoration of spare capacity, both of which would bring down the oil prices. The rising oil price can be attributed either to falling discoveries and the stringency of supply, or alternative to some extent to the policies of the national oil companies.
Now, the high revenues—that have come from particularly in recent years as a result of the run-up in prices—have provided leeway to other nations to pursue their own strategic and political objectives to a degree that they had not before. I can mention Iran, I can mention Venezuela as glaring cases. Russia is also a prominent case in that regard. It is also true that the revenues that have been generated by these high oil prices have spilled over into—spilled over into the availability of funds for terrorist groups.
The burden on foreign policy has affected all importing nations. They are concerned about supply, and to that extent they have been inclined to accommodate exporters. If you take a look at the recent case of Georgia, in which the president has said that "we will continue to support democracy because we know we have the support of the Western world," and we look at the European Union, which is concerned about its relations with Russia—not on oil, but on natural gas—and there is not likely to be much support for Georgia forthcoming from the European Union.
The U.S. is in a different position, to some extent, in that it has either taken on or assumed responsibilities as the world's leader. And as a consequence, its foreign policy is more burdened, in a way, than that of other importing nations.
What to do about it? Internationally, in the light of growing questions about supply, it is the conclusion of this group—which I might point out is a very wide-ranging group, if you look at the membership of the group—to encourage production everywhere. That means production in OPEC, it means production in non-OPEC, it means production here in the United States. It is difficult for us to persuade other nations that it is of interest to the world economy to increase capacity unless we are prepared to do it. It is not that we are going to increase production immensely, but we should show that we are prepared to move in that direction.
In some places—Nigeria is the most prominent example—we assert in the report that there must be greater transparency and that local people must enjoy some of the benefits, which has not been the case. Otherwise, we will have the kinds of disruptions that we have seen to supply in Nigeria.
The conclusions? One has got to be serious about energy problems. One must speak home truths to the American people. We must move to alleviate the energy problems which will be with us for the foreseeable future. As long as we are dependent on the internal combustion engine and dependent on air transportation—both of which are growing—we are going to be dependent worldwide and here in the United States on imported petroleum.
As I mentioned, we want to alleviate some of these problems. There are domestic things that we can and should do, and John will cover them.
DEUTCH: Thank you, Jim.
Energy issues inevitably and inexorably mix international and domestic considerations. Our freedom of action internationally has limits and must be balanced against other objectives than just energy. But there's a lot that should be and needs to be done in our domestic programs, and I want to briefly review for you task force commentary and recommendations on what needs to be done domestically to accompany our future in foreign policy and energy.
First, it is the unanimous view of this task force that greater incentives are needed to shift the American public away from oil use. A variety of mechanisms are possible: a gasoline tax, more stringent CAFE standards, combined auto fuel economy standards or tradable permits. The task force, of course, is well aware of the political difficulty of achieving these kinds of measures, but again, it's an example of what Jim pointed to of the need for clear and sustained political leadership to accomplish this.
Why do we think that higher prices are both necessary and inevitable for petroleum? Of course, higher prices will increase supply, higher prices will moderate increases in demand, but the task force also notes the great importance that higher prices have at stimulating innovation and new technology which will help in the decades-long transition away from petroleum to other energy sources.
We do not appreciate, especially here in area code 202, the tremendous burst of energy and activity and innovation in the energy technology area. There has been a tremendous increase in activity by big companies—Dupont, Chevron, others—and especially small companies backed by venture capitalists in looking for alternatives to petroleum use, beginning the process now of a transition away from oil and gas.
I just mention two examples that are discussed in the report.
The first is biofuels based on cellulosic feedstocks, where there is enormous potential to produce over the decades, even without subsidies and competitive costs, maybe 1 (million) or 2 million barrels of oil a day.
The task force supports the use of nuclear power today, not because it substitutes immediately for petroleum, but in the long run it opens the technological opportunities of going from hybrids to plug-in hybrids ultimately to electric vehicles as a way of finding alternatives to transportation fuel.
The Department of Energy has also an enormous role to play in innovation. As I've mentioned, the private sector is moving very rapidly here. The view of the task force is, is that the department's programs are too small, and too often the program of the Department of Energy is moved by projects which go up and down and projects which reflect the special interests of different constituencies.
This means that Congress has an especially important role in innovation and producing energy technologies which will lead us through to the future. They must select research, development and demonstration programs that are based on objective criteria. We need Congress's consistent and strong support.
For example, we see no reason for a protectionist tariff on ethanol, imported ethanol, because if we import ethanol, it will to some degree substitute for petroleum, and I see no basis for that kind of protectionist measure.
I notice that Congress left for the election time here without having renewed the R&D tax credit, which is probably the single-biggest thing which industry needs to continue its innovation.
The task force addressed natural gas in North America. There is significant concern over the long term about availability of natural gas supplies. We are very interested in encouraging continued imports of gas from Canada. U.S. production of gas, including unconventional sources of gas, such as coalbed methane. And inevitably, there will be an increasing role for LNG imports. It is important for the government to do everything it can to encourage regasification facilities that will help make LNG available in the North American market.
I want to say two words about the energy infrastructure of our country. It remains very vulnerable. It remains vulnerable to natural catastrophe, such as the Katrina Hurricane, and it does remain vulnerable to terrorist attack. The task force notes the importance of working on the improvements on the protection of the energy infrastructure, whether we're talking about the electric grid, about pipelines, petroleum facilities of one kind or another.
We have had a Strategic Petroleum Reserve since the foundation of the Department of Energy. It is time to review the criteria for the size of that Strategic Petroleum review (sic\reserve), its purpose, and the rules for its use.
These are some of the recommendations that are made on the domestic side. And I would just like to say that it is always inviting for a task force to make grand recommendations about government reorganization. Partially, because of our age, partially because of our experience, we have eschewed that possibility. We do think that there is a reason to have a capable and dedicated, very small White House staff on energy issues that are able to assist both the domestic side and the national security side in managing energy matters as they come up. But there is no excuse for consistent attention, serious attention, and objective attention to energy issues on the domestic side as well.
Thank you very much.
David, were there any comments that you would like to add, please?
DAVID G. VICTOR: Let me just say a couple of words. This is a report about a foreign policy problem, the erosion—severe in some places in the world—of U.S. foreign policy influence. But a lot of the report is about domestic policy, because that is where we have our greatest leverage. It's a consensus report from a task force that has an extraordinary range of views. And I just want to acknowledge four members of the task force who are with us this morning: Phil Sharp, Frank Verrastro, David Goldwyn, and Charlie DiBona. The task force as a whole is about two dozen people.
To get ready for this morning, I went back and reread the council's task force report on energy in the year—that was reported in the year 2001, May of 2001. And I want to just highlight three things that I think are different, that are very starkly different now, when you compare what a group of people focusing on foreign policy talk about on energy today, compared with 2001.
The first one is that we are in a high-price environment compared with the situation in 2001. And a lot of the report emphasizes the danger of political attention abating as prices come down, as we've seen already, and as other events, like the test in North Korea, and whatever else happens tomorrow, as other events take over the spotlight. And so our recommendations, for example, on strong incentives to improve energy efficiency, those recommendations are anchored in deep concern about the difficulty in sustaining political attention in the United States government.
A second area of difference between today and the report in 2001 is the attention we give in this report to the role of state oil companies. And we're very careful to underscore that there's a wide range of companies, some of which are investing enormously in additional production, most notably Saudi Aramco, and others which are really not functional companies and don't respond in ways that normal companies respond, and that's part of the problem in the world oil market today.
The third area of difference today compared with 2001 concerns what some people call the resource curse, although we are careful in this report not to use that language. But the idea is that in some parts of the world, typically places that are already poorly governed, that the large influx of money from oil and gas exports actually makes government worse and doesn't benefit the people that it should ultimately benefit.
This report draws considerable attention to the role of a wide range of political deals that Chinese oil companies, but now Korean and Indian and other oil companies, have been doing, notably in Africa, and expresses concern about the impact of those on the governance in the countries that already suffer from fragile government.
There aren't any easy fixes to that problem, although we draw attention to something that the British government has spearheaded, the EITI, Extractive Industries Transparency Initiative, not because it's enormously influential, but because, as John and Jim emphasized, one has to do something to help improve the transparency in flow of the oil revenues, oil and gas revenues, in these countries so that we don't suffer this resource curse over the long haul.
Thank you.
DEUTCH: With that, we will throw the floor open to questions or comments. We again thank you for being here, and we hope you'll read this report.
Please. Yes, sir. Please identify yourself.
QUESTIONER: Is this plugged in? Hello, anybody. Am I being heard?
MR. : Yes.
QUESTIONER: (Name off mike)—with Bloomberg Radio. Would you explain to somebody stuck in traffic on the Long Island Expressway what you mean by tradeable permits, how they work, how they impact somebody in his SUV this afternoon? And to what extent are they a substitute for the other two key recommendations, which are being cordially ignored?
DEUTCH: Briefly, the idea of tradeable permits is that individuals in the United States get a certain amount of chits to purchase gasoline, and they can trade these permits, buy and sell them, to acquire the number they need for their own personal use in transportation.
Let me remind you that on this panel we have experts from a wide variety of different disciplines and they all have very strong views about which one of these mechanisms would work best in economic theory, which one of these would work best politically, would have most possibility. I think the panel, though, is of the view that a mixture of these measures would be of benefit to the American consumer, the American person, over the long haul. So we don't have a specific recommendation among them, but they're all mechanisms that should be considered. And we have strong advocates and critics of each one on the task force.
QUESTIONER: How would I buy chits? How does it work?
DEUTCH: You would be—you would have—you would be given—you would have—an apportionment would be to you and every citizen who, according to certain rules, would be given a certain allocation. You could—you could use them, buy them, sell them, in order to provide for your needs.
Yes, sir?
QUESTIONER: Bill Loveless, Platts Inside Energy. As I read the report, those three options you offered—the tradeable chits and the other two—were options that the task force itself couldn't agree upon in terms of a recommendation. Doesn't that reflect some of the problems there's been in enacting energy policy over the years?
DEUTCH: I think—I would not—I would disagree with that. My—and Jim has got even more experience than I—my experience is that Congress of either party will reject any—any—measure that would increase in a sensible way energy prices. Our task force is unanimous in the need to do so, and the only question is what is the right and best timing and mixture of tools to do it. So there's a fundamental difference. I think the panelists really were given the—certainly if Jim was given the responsibility of tailoring a specific proposal, it would have been possible to do. We didn't go into it in tremendous depth.
SCHLESINGER: I'm more inclined to agree with the questioner. (Laughter.)
DEUTCH: This happens from time to time.
SCHLESINGER: The history of the gasoline tax does indeed indicate what the difficulties have been over the course of the last 30-odd years.
DEUTCH: Yes, sir?
SCHLESINGER: The reason we have CAFE standards, by the way, is that that seems not to penalize in an overt way the consumer or the voter.
DEUTCH: It hides it.
QUESTIONER: Thank you. Nestor Ikeda, an Associated Press reporter for Latin America. I have a question for Mr. Schlesinger. In your report finding, you mention as a big concern in the Western Hemisphere the policies that Venezuela's government is adopting against the U.S. So what would you suggest for the U.S. to do with Venezuela?
SCHLESINGER: In the first place, I don't think the report or I feel that there is a big concern about what Chavez is doing. And secondly, the general rule would be to ignore Chavez. We have probably paid too much attention to him in the past.
DEUTCH: Yes, sir?
QUESTIONER: I'm Skip Bowman, president of the Nuclear Energy Institute. Dr. Deutch, you noted as your second unanimous conclusion of the task force a unanimous support for nuclear power today. Yet there's not a mention of nuclear power in the press release, other than the concern of nuclear proliferation.
DEUTCH: I don't think that's—
QUESTIONER: I was wondering if that was intentional or accidental.
DEUTCH: No, it's—in fact, I don't think that's right. I think that the press—
QUESTIONER: I'll read it again.
DEUTCH: Yeah. I—but we—I think everybody in the task force says if you could have economical, safe, proliferation-resistant nuclear power, it will be good for this country from the point of view of the consumer and from the point of view of avoiding too much use of petroleum.
QUESTIONER: Thank you.
DEUTCH: Go ahead, please.
VICTOR: Let me just briefly say I think it's important that this part of the report not be misreported, if you like. Nuclear power generates with the current technologies electricity, and much of the report is about oil and oil dependency.
And therefore, there's a set of recommendations in here—as you can imagine, there are lots of detail that we've not been able to cover in our brief summary. There's a set of recommendations in here about the need for innovation in electric-based transportation, such as the so-called pluggable hybrids or pure electric vehicles. And the reason that that is so important is because if we are—have success on that front, then that creates some fungibility between oil, which really has a lock on the service of transportation, and other forms of energy. And that's extremely important, because that not only allows you to manage the consumption of oil but also puts some more discipline on the oil market that doesn't exist to such a great degree right now, because when the price of oil goes up or supplies—people feel they're insecure, you don't have much in the way of an option for powering your vehicle or your aircraft.
QUESTIONER: So you're agreeing; it's not in the press release.
VICTOR: I'm not going in there. It is in the press release.
DEUTCH: Please.
QUESTIONER: Gal Luft from the Institute for the Analysis of Global Security. A question about coal. Since we have 25 percent of the world's coal reserves, do you see a role for coal in the transportation sector, particularly because synthetic fuel from coal is the only alternative to jet fuel currently available?
The other thing is, you mentioned the reduction of the tariff, the removal of a tariff on imported ethanol. That is a very good idea, but it has to be also complemented by a policy that will increase investment in developing countries, so they can produce more sugar cane, since they have enormous availability of arable land. And that could also bring more fuel to the consuming countries.
DEUTCH: The report does mention the possibility of synthetic oil or synthetic gas from shale or coal. The report also notices that if you have large-scale deployment of those technologies, there's a question of their cost, but also there's a concern about what to do about their carbon dioxide emissions. So that would have to be addressed at the time that such a large-scale deployment took place.
SCHLESINGER: That incidentally goes back to the question earlier about the difficulties of overcoming political obstacles. Not only do we have the sugar beet farmers and the defense of the local industry, but now we have a burgeoning ethanol industry based upon corn, which would be decimated in the event that we allowed free flow of cheap ethanol to come in from Brazil and elsewhere. And those special-interest groups will be counted on to fight against any reduction in the tariff.
DEUTCH: David—
QUESTIONER: Bill Nitze.
DEUTCH: Sorry.
QUESTIONER: Our major allies, including Canada, the United Kingdom, Japan, much of Western Europe, even our own Defense Department, regard global climate changes as an emerging national security issue.
Now, I haven't had a chance to read this report, but leafing through it I don't see much mention of that issue, and where it has led other countries is that we need to reduce dependence on fossil fuels for environmental reasons almost independent of the social and economic impact of current problems in energy markets. And I wonder if you would like to comment.
DEUTCH: I will be happy to comment. Jim may want to add to it. The report is very clear about the agenda that we set for ourselves. We did not address the very considerable significant issue of global warming and of foreign policy implications. We also, for example—and particularly pertinent to mention that today—did not address the issues of nuclear proliferation in any great detail.
So we didn't cover everything. We focused and tried to do so in what we think is an essential not the only essential energy problem, which is the issue of oil and gas dependence broadly in the United States and around the world.
So we do note, as I just did, in the case of synthetic fuels where a(n) issue of CO2 emissions might become relevant in a policy discussion, but we did not address the issue of global warming. It is certainly an important one for the country and an important one for the council to undertake. We did not do so in this report.
SCHLESINGER: As indicated, our concern with the vulnerabilities to national security and foreign policy over the decades of dependency, particularly, on imported oil. That was our central focus. Some members of the task force would have liked to discuss global warming at great length, but that was not the objective that we had set for ourselves. We mention it, we put it aside.
DEUTCH: Yes, sir.
QUESTIONER: Edwin Williamson, Sullivan & Cromwell. Just sort of very quick of leafing through the report, mainly looking at the pictures, I don't see anything on the consumption figures. I mean, where—I mean, what percentage do automobiles account for our petroleum consumption? How much does commercial aviation? How much does private aviation? How much does manufacturing? It seems to me that those are some issues that would have to be addressed not only from a political standpoint, but also in designing any trading system.
DEUTCH: There is—
SCHLESINGER: Eighty-five, 90 percent of petroleum is engaged in transportation. Something on the order of 60 percent of total petroleum uses is for automobiles.
DEUTCH: David.
QUESTIONER: Thanks. David Goldwyn, member of the task force. First, I would say it was a privilege to serve with such distinguished leadership, and both John and Jim and David's able writing of this and our colleagues. Michael Granoff and I offered an additional view because we agreed with everything that was in the report, but there were some things that we thought would have been if we could have gone even farther. And I think there were sort of five areas where we thought policymakers ought to think about other steps that could be taken.
One is the characterization of the issue, which I think we felt was really urgent and fundamental and deserves much higher priority on the list of foreign policy steps that we do.
Second, that we sort of missed an opportunity to endorse the number one step, as the reporter said, that would really move the dial on long-term consumption, promotion of alternatives, promotion of fuels, and that's the floor price on gasoline. And lots of members agreed with it, and we put the menu out there. But there are things that make a big difference and things that don't, and that's the one that really makes the biggest difference and still respects the market.
Third, one thing that—one tool that we have that we haven't used is using reciprocity to combat monopolization on the use coercion—oil as coercion in markets, and that is whether we ought to deny or insist on reciprocity and access to U.S. markets or U.S. infrastructure with countries that don't open their markets to us. And we can have Russia in mind and others, but whether there ought to be unlimited asymmetry, and we thought that there should not.
A fourth thing that we thought was important to consider was asymmetrical power. We're not in the battle for oil supplies. We're in a battle for influence, for protection of our way of life, democracy, our values, our market system, but we can't fight that battle with cheap oil, and we can't fight it with coercion. So we have to use other things; that might be power and infrastructure, it might education and development. But if we're going to fight for influence in Africa and in Latin America with countries that are using energy as a tool, we have to use asymmetrical means in order to combat them.
And I think those are things that we thought are just important to consider in the mix.
DEUTCH: Yes? Yes, ma'am.
QUESTIONER: Thank you. My name is Hannah Schott (ph) with—(name inaudible)—Magazine of Panama and the European Broadcasting System. I would like to know from a political point of view and going back to the nuclear issue what kind of reaction do you expect from other countries that are pursuing the same goal, to hear that the United States wants to endorse or to improve or to develop more nuclear power? Thank you. Considering that in Latin America, it is now—it's raising the same debate.
Thank you.
DEUTCH: There are many reasons to consider nuclear power and think that it may be of importance.
It avoids, in some places, oil or gas use for electricity, not oil use in the United States so much. It avoids some environmental issues. It also brings some environmental concerns. And as was mentioned—and the report stresses—in the long run, it is an opportunity for electricity as an alternative for transportation services.
I think that there's a broad understanding in the environmental community, in the utility community in the United States. I've just come back from Europe on a trip—I hear it there, too—about the need to consider the possibilities of nuclear power, if it is economical, if it is safe and if it does not create proliferation concerns.
Yes, sir.
QUESTIONER: Odeh Aburdene, OAI Advisors. The last four price spikes occurred because of political reasons—'73, because of Arab-Israeli War; '79, because of the Iranian Revolution; 1991 because of the invasion of Kuwait; and in the past three years because of the Iraq war. So there's a political connection here. What policy should the U.S. pursue to make sure these political eruptions don't occur so we don't have to worry about energy security every five or 10 years?
VICTOR (?): Go ahead, Jimbo.
SCHLESINGER: Well, regrettably, I see no way of assuring that there will be no political eruptions over the next 10 years, over the next 20 years, over the next 30 years. We're likely to have turbulence as long as the human being is around.
DEUTCH: I would have another point I would make to you.
If you do not look at the spikes, but you look at the shape of that curve, that curve is going up in cost price. And the point that I think that is good about this report, it says over time we should expect that there are going to be increases in the real costs and therefore the price over time because we are using up available low-cost oil around the world, and we have to begin to plan for that and adjust for it now.
So it is not the spikes that I draw your attention to exclusively—although they have tremendous foreign policy concern—it is the inevitable trend of higher prices for a resource that we are depleting as we increase our use, as Jim said, for 10 (million), 20 (million), 70 (million), 100 million barrels of oil, 80 million barrels of oil today around the globe.
SCHLESINGER: Point back to the past, we have had these spikes because of political eruptions, particularly in the Middle East. In recent years, we have had the first demand-driven oil price spike. Prior to that, we had seen only supply interruptions driving up the price of oil, and it is a reflection of the growing stringency of supply and the difficulty of finding new sources of petroleum.
DEUTCH: Yes, sir.
QUESTIONER: Fadi Kabboul, Embassy of Venezuela. Last Sunday, there was a Washington Post editorial about energy policy, and it mentions that the solution to make the price of oil low but at the same time having incentives to alternative energy is through taxation—taxation on gasoline and carbon taxation. So I wonder if your report covers this and what's your opinion on that.
VICTOR (?): What was that? Venezuela?
DEUTCH: Yeah. I think that I tried to address that, that the report does advocate measures, whether it's CAFE or taxes or tradable permits which would fall on motor gasoline and help to moderate increases in demand, help to encourage supply and most of all to stimulate the transition to new technologies.
Yes. Yes, ma'am.
QUESTIONER: Thank you. Paula Stern, The Stern Group, Inc. Question about biofuels and subsidies and U.S. policy. Would you elaborate on that? I know you mentioned it in passing, John.
DEUTCH: Well, as you know, there is a significant subsidy for ethanol production in the U.S. today. I think it's 5.5 cents per gallon of gasohol, which represents 55—that's federal subsidy—55 cents per gallon of ethanol. And there are state subsidies in addition.
It is, of course, today in the United States almost exclusively corn-based ethanol. And because the growing of corn and the fermentation and production of the ethanol takes so much energy in an industrialized, it's not a hugely advantageous way of displacing petroleum.
On the other hand, the prospects—as President Bush said in his January 31 st State of the Union message, the prospects for cellulosic-based biofuels—ethanols from cellulosic biomass—are really extremely promising. However, they're yet to be proven. They will take time to develop. They will not cost less for the consumer; they will be costly.
But I do—I personally believe—and I've actually looked at it fairly carefully—that over the long haul there is considerable prospects for cellulosic-based biofuels in this country. How much? My estimate is always 2 million barrels of oil a day. But I remind you that we are producing 20 million barrels of oil a day. So we still have, for the foreseeable future, the need to understand that we are going to be dependent on and use lots of petroleum, and that's an important priority for us too.
Yes, sir?
QUESTIONER: I'm Brian Wingfield with the Energy Daily. Just looking through the report, it talks a little bit about offshore drilling in California and the Gulf, and also in ANWR, and it says, "Opening some of these areas could reduce the decline of U.S. production." But it also says, "Taken together, the potential increase in domestic conventional oil production would only make a modest contribution to U.S. oil supply."
So I guess I'm looking just for a little bit more clarity. Are you in favor of opening some of these areas, such as ANWR, and lifting the moratorium on the Coast? And if so, how much would that really help increase our production?
Thank you.
SCHLESINGER: I will handle that, John. (Laughter.)
I have been in favor of opening up ANWR now for 28 years or thereabouts. It will not change our dependency on foreign sources of supply. As I indicated in my opening remarks, we are urging we should be encouraging other countries—OPEC, non-OPEC, ourselves, countries that have fuel substitutes—to increase production to meet what is burgeoning demand. And we will be less effective in persuading others to increase capacity if we do not practice what we preach. We need to show that we are not different from others in that we, too, recognize the rising problem of dependency on oil.
You sometimes hear, by the way, that the age of oil will come to an end. It will not come to an end. What will likely come, decades out, is that we will reach a plateau in which we are no longer able to increase production to meet demand. And for that reason, we need to encourage, over time, others to, if not maximize production, increase their capacity. And we are in a position in which we must practice what we preach.
DEUTCH: I want to say that there are individual members of the panel who may favor production in ANWR; there are individual members of the panel who may not favor increased production in ANWR. The important point is that the panel is unanimous, the task force is unanimous, that some increase in production must—should take place in the United States and should be sought. That's where the panel—the task force is, a unanimous view that there's got to be some effort to increase our production in the United States, rather than choosing among specific areas.
QUESTIONER: Yes, good morning. Liliana Ferrer from the Embassy of Mexico. I'd just like to hear your views. You know that we have a new administration coming in December 1 st. What would be the ideal policy for the new administration regarding the restructurization and modernization of the petroleum industry in Mexico?
SCHLESINGER: What we think would be the rational policy for Mexico is different from what we expect will happen.
DEUTCH: That's true in the United States too. (Light laughter.)
SCHLESINGER: That, as you know, ever since the nationalization in 1938, the national patrimony has protected PEMEX from foreign intrusion, and we do not expect that to change. We think it would be good for Mexico as well as the international energy economy if that were to change. I think that it is important for Mexico, however, particularly with the decline in its largest oil field, which is ongoing, to bring in foreign technology in order to exploit a lot of the deep sea deposits in the Gulf of Mexico.
VICTOR: Let me just briefly comment on this. The new administration knows extremely well what the problems are there. It also doesn't have the votes for any fundamental reform and certainly not the constitutional reform that would be needed for a large-scale change in the structure of PEMEX. I think there's a danger that Americans looking at this situation have too quickly leapt on the idea that PEMEX ought to be privatized or restructured in some way that is politically inconceivable inside Mexico today and for the foreseeable future.
All that said, there are things that they can do, for example, giving PEMEX more control over its capital budget, so that they can invest to address some of the issues that Jim mentioned. All of that is within the Mexican constitution right now, and I think there actually is some growing consensus about those kinds of fiscal reforms inside the Mexican budget, rather than these much hyped, but totally unrealistic broad-scale reforms that, at least north of the border, people like to talk about, but aren't going to happen.
QUESTIONER: Thank you. Jessica Matthews from the Carnegie Endowment. To me—and on a quick read the report seems notable for what it was unable to reach a recommendation on. Nothing on improving energy efficiency in the recommendations, only on reducing subsidies. Nothing on when to begin the transition to less reliance on petroleum. No recommendation on what trend in consumption that we should aim for. No judgment on the relative contribution of production and efficiency improvements. And as was noted, nothing on climate change, which, given the state of the science, I think is a bit like writing a report on English literature and deciding not to mention Shakespeare because he didn't write novels.
I have to agree with the earlier questioner that said that perhaps this report is sort of a mirror of Congress's inability or Washington's inability to have an energy policy. And I wondered whether you, having gone through this experience, have any thoughts on how to break the political gridlock.
SCHLESINGER: Well, we're stuck with the separation of powers, let's face it. In a parliamentary democracy, and you have a parliamentary majority, you can do what you want. We have the separation of powers. And the Congress, to a large extent, is every man for himself and his own district. And the consequence is that getting the Congress to agree on a policy is an uphill fight.
One point that should be kept in mind is that, because of the political role, this is an illusion—I'll repeat, an illusion—in this country that finding substitutes for imported oil will reduce the price of energy in this country. It will not. The reason that we import oil is that it is the cheapest and most effective way of generating energy.
I missed, partly because of the noise back there, what the other things that we did not cover. But I think that our purpose was less to lay down a prescription of specific recommendations than it was, once again, to point to the generic problem, which is growing larger partly because of the growing stringencies with regard to the production of petroleum and the impact that this is having on our ability to conduct foreign policy.
I might add to that, we sometimes hear about the need to achieve energy security; we are not going to achieve energy security in any meaningful sense. What we are going to do is to minimize the problem of energy insecurity since we will not be ending energy dependency.
DEUTCH: I would like to say something if I may. I think that one of the problems with this report is that it's not amenable to a quick read. I think it deserves a little bit more of your attention.
For example, I think the report is extremely clear that we think a transition away from oil has to begin today. If you don't make the investments today, you won't be able to move away from it tomorrow. But we also try to be extremely realistic about the pace in which that substitution will take place, that transition will take place, and the need, therefore, to be careful and pay attention and respect the continued reliance that we are going to have on imported petroleum, whether it's us or our allies. So it's very clear that the transition must begin today.
And when you speak about energy efficiency targets, this is not a report about domestic energy policy, this is a report about energy, and in particular, oil and gas and foreign policy. So we were not here laying out a map for what domestic energy policy should be.
I will end with one personal note on this. In 1979, as a result of my boss's behavior, I had to go and stand in the Rose Garden and hear Jimmy Carter say that we were going to have 20 percent renewable energy by the year 2000. It is here 2006 and we are far from that goal. It is more important that the American people understand the actual character of this oil and gas problem than to search for immediate or quick fixes that may get us out of it. Efficiency improvements will not do it. Increases in costs will.
SCHLESINGER: It is far better, John, that you explained how we were going to reach 20 percent on solar energy (than that ?) I explained it.
DEUTCH: I recall. (Laughter.)
Yes, back here.
QUESTIONER: (Off mike.)
DEUTCH: What's that?
QUESTIONER: I hear what you're saying—
DEUTCH: I think if you'll look at Chapter 3, you'll find it in there very clearly.
QUESTIONER: Garry Mitchell from The Mitchell Report. And I wanted to begin with an observation stemming from Jessica Mathews' question. That it occurs to me that one goes to the policy wars with the Congress you have, not necessarily the Congress you want. (Laughter.)
As you suggest, as we take the time to read this report, it would be interesting to know something about the composition of the people in the room. And the question that I'm really after is, how would you or the other members of the panel characterize the balance between those for whom solutions are production and those that are conservation in nature? What was the balance like in the room on those perspectives about this issue?
DEUTCH: My view is I actually respect the composition of this panel. If you look at it, it's a very, to my mind, broadly based group of people. And I would say if you look at them, all of them are knowledgeable enough so that you can't characterize them so simply as being for demand or for supply. Most of them, whether their backgrounds are in the environment or in the oil industry, understand that you need to look at both sides of that equation. So I could not characterize it and wouldn't characterize either the individuals or the panel itself as being biased on one side or the other.
SCHLESINGER: Unless we enthusiastically pursue conservation, conservation will be forced upon us. (Off mike.)
DEUTCH: Okay. I'm sorry. I'll take a couple more questions. Yes, sir?
QUESTIONER: Julian Braithwaite from the British Embassy. Your report mentions the Extractive Industries Transparency Initiative as one of the best ways of dealing with the nexus of problems around what we might call the resource curse. And I was wondering if the task force considered what else the U.S. government could do to support the initiative. Thank you.
DEUTCH: Why don't you answer that briefly.
VICTOR: It could start by supporting the initiative. (Laughter.) The U.S. government has been extraordinarily slow to be even receptive to this idea, has come along belatedly. Let me just—one more word on this point, which is we're not arguing this is the best game in town, but I think this is an area like, in a previous exchange with Jessica Mathews, where we have to be realistic about what is achievable and not set unrealistic targets, because if we do that, we're going to come up against this problem and have no effect whatsoever.
DEUTCH: There was a question here. Yes, ma'am.
QUESTIONER: Hi. Pamela Bates, Department of State, Office of Science and Technology Cooperation. My question for you related to the number of market distortions or incentives that are in the report in terms of recommendations to change energy usage, I guess, internationally.
My question would be in relation to other oil-importing nations. Are you recommending that the U.S. press them to adopt policies that would change the energy market in those countries? And if so, what are the priorities? And how does that relate to our traditional policies of pressing them to liberalize their markets?
DEUTCH: I believe that the report speaks to this in two ways. The first is, it advocates that all countries allow oil and gas prices to move to world market levels. There are certainly particularities in each country that will adjust how they do that, but in general, those countries which aren't at world market levels should be there. There may need to be compensation for elderly or impacted people, but in general move to world market.
But the more important recommendation on this report is to find a mechanism where the IEA can bring in the large developing, rapidly growing economies who are big importers—India, China, Indonesia, Mexico—into their discussions of the IEA, so there is a common basis for seeing the problems that the importing countries have and the common interest in having a stable and transparent and open oil market. So there's a very strong plea of finding a mechanism for doing that and reinvigorating the IEA or some adjusted mechanism, to include the importing countries.
I think we've come to the end of our time. I'm told that we should end promptly. I want to thank everybody very much for being here. I urge you read this report. It's an interesting report, and we hope you enjoy it. Thank you so much for coming here this morning. (Applause.)


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subset: commoncrawl


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Hi, thought I would join as in the past I've found it good to be in contact with people who own similar cars!
I just bought a 2007 Focus Style with 23k miles on the clock - seems as good as new and very enjoyable so far. My first Ford actually (although I've driven a few in the past) - good times


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The scents of roasted almonds and mulled wine as well as festively decorated wooden stalls offering countless gift ideas as well as a large ice rink on the market place attract visitors. Open daily from 11 am - 9 pm.
Najbliższe terminy:
27.11.2012 - 23.12.2012
Miejsce wydarzenia
77652 Offenburg
Organizator wydarzenia
Fon: +49(0)781 822500


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From Wikipedia, the free encyclopedia - View original article
Xanthomonas axonopodis | |
Scientific classification | |
Kingdom: | Bacteria |
Phylum: | Proteobacteria |
Class: | Gamma Proteobacteria |
Order: | Xanthomonadales |
Family: | Xanthomonadaceae |
Genus: | Xanthomonas |
Species: | X. axonopodis |
Binomial name | |
Xanthomonas axonopodis (Hasse, 1915) | |
Synonyms | |
Pseudomonas citrii |
Xanthomonas axonopodis | |
Scientific classification | |
Kingdom: | Bacteria |
Phylum: | Proteobacteria |
Class: | Gamma Proteobacteria |
Order: | Xanthomonadales |
Family: | Xanthomonadaceae |
Genus: | Xanthomonas |
Species: | X. axonopodis |
Binomial name | |
Xanthomonas axonopodis (Hasse, 1915) | |
Synonyms | |
Pseudomonas citrii |
Citrus canker is a disease affecting citrus species that is caused by the bacterium Xanthomonas axonopodis. Infection causes lesions on the leaves, stems, and fruit of citrus trees, including lime, oranges, and grapefruit. While not harmful to humans, canker significantly affects the vitality of citrus trees, causing leaves and fruit to drop prematurely; a fruit infected with canker is safe to eat but too unsightly to be sold.
The disease, which is believed to have originated in South East Asia, is extremely persistent when it becomes established in an area. Citrus groves have been destroyed in attempts to eradicate the disease. Brazil and the United States are currently suffering from canker outbreaks.
Contents |
Xanthomonas axonopodis is a rod shaped gram negative bacterium with polar flagella. The bacterium has a genome length approximately 5 Mbp. There are a number of types of citrus canker disease caused by different pathovars and variants of the bacterium:[1]
Plants infected with citrus canker have characteristic lesions on leaves, stems, and fruit with raised, brown, water-soaked margins, usually with a yellow halo or ring effect around the lesion. Older lesions have a corky appearance, still in many cases retaining the halo effect. The bacterium propagates in lesions in leaves, stems, and fruit. The lesions ooze bacterial cells that, when dispersed by windblown rain, can spread to other plants in the area. Infection may spread further by hurricanes. The disease can also be spread by contaminated equipment, and by transport of infected or apparently healthy plants. Due to latency of the disease, a plant may appear to be healthy, but actually be infected.
Citrus canker bacteria can enter through a plant's stomata or through wounds on leaves or other green parts. In most cases, younger leaves are considered to be the most susceptible. Also, damage caused by Citrus Leaf Miner larvae (Phyllocnistis citrella) can be sites for infection to occur. Within a controlled laboratory setting, symptoms can appear in 14 days following inoculation into a susceptible host. In the field environment, the time for symptoms to appear and be clearly discernible from other foliar diseases varies; it may be on the order of several months after infection. Lower temperature increases the latency of the disease. Citrus canker bacteria can stay viable in old lesions and other plant surfaces for several months.
The disease can be detected in groves and on fruit by the appearance of lesions. Early detection is critical in quarantine situations. Bacteria can be tested for pathogenicity by inoculating multiple citrus species with the bacterium. Additional diagnostic tests (antibody detection, fatty-acid profiling, and genetic procedures using polymerase chain reaction (PCR) can be conducted to confirm diagnosis and may help to identify the particular canker strain.
All species and varieties of citrus have not been tested for citrus canker. Most of the common species and varieties of citrus are susceptible to citrus canker. Some species are more susceptible than others, while a few species are resistant to infection.
Susceptibility | Variety |
Highly susceptible | Grapefruit (Citrus x paradisi), Key lime (C. aurantiifolia), Pointed leaf Hystrix (C. hystrix), lemon (C. limon) |
Susceptible | Limes (C. latifolia) including Tahiti lime, Palestine sweet lime; Trifoliate orange (Poncirus trifoliata); Citranges/Citrumelos (P. trifoliata hybrids); Tangerines, Tangors, Tangelos (C. reticulata hybrids); Sweet oranges (C. sinensis); Bitter oranges (C. aurantium) |
Resistant | Citron (C. medica), Mandarins (C. reticulata) |
Highly resistant | Calamondin (X Citrofortunella), Kumquat (Fortunella spp.) |
Modified from: Gottwald, T.R. et al. (2002). Citrus canker: The pathogen and its impact. Online. Plant Health Progress |
Citrus canker outbreaks are prevented and managed in a number of ways. In countries that do not have canker, the disease is prevented from entering the country by quarantine measures. In countries with new outbreaks, eradication programs that are started soon after the disease has been discovered have been successful; such programs rely on destruction of affected groves. When eradication has been unsuccessful and the disease has become established, management options include replacing susceptible citrus cultivars with resistant cultivars, applying preventive sprays of copper-based bactericides, and destroying infected trees and all surrounding trees within an appropriate radius.
Citrus canker is thought to originate in the area of Southeast Asia-India. It is now also present in Japan, South and Central Africa, the Middle East, Bangladesh, the Pacific Islands, some countries in South America, and Florida. Some areas of the world have eradicated citrus canker and others have ongoing eradication programs, but the disease remains endemic in most areas where it has appeared. Because of its rapid spread, high potential for damage, and impact on export sales and domestic trade, citrus canker is a significant threat to all citrus-growing regions.
The citrus industry is the largest fresh-fruit exporting industry in Australia. Australia has had three outbreaks of citrus canker, all of which have been successfully eradicated. The disease was found twice during the 1900s in the Northern Territory and was eradicated each time. In 2004 an unexplained outbreak occurred in Central Queensland. The state and federal governments ordered that all commercial groves, all non-commercial citrus trees, and all native lime trees (C. glauca) in the vicinity of Emerald be destroyed rather than trying to isolate infected trees. Eradication was successful with permission to replant being granted to farmers by the biosecurity unit of the Queensland Department of Primary Industries in early 2009.
Citrus is an important domestic and export crop for Brazil. Citrus agriculture is the second most important agricultural activity in the Brazilian state of São Paulo, the largest sweet orange production area in the world.[2] There are over 100,000 groves in São Paulo, and the area planted with citrus is increasing. Of the ~2 million trees, greater than 80% of the trees are a single variety of orange, and the remainder is made up of tangerine and lemon trees. Because of the uniformity in citrus variety the state has been adversely affected by canker, causing crop and monetary losses. In Brazil rather than destroying entire groves to eradicate the disease, contaminated trees and trees within a 30 m radius are destroyed, up to 1998 over half a million trees had been destroyed.
Citrus canker was first found in the United States in 1910 not far from the Georgia – Florida border. Subsequently, canker was discovered in 1912 in Dade County, more than 400 miles (600 km) away. Beyond Florida, the disease was discovered in the Gulf States and reached as far north as South Carolina. It took more than 20 years to eradicate that outbreak of citrus canker, from 1914 through 1931, $2.5 million in state and private funds were spent to control it—a sum equivalent to $28 million in 2000 dollars.[3] In 26 counties, some 257,745 grove trees and 3,093,110 nursery trees were destroyed by burning. Citrus canker was detected again on the Gulf Coast of Florida in 1986 and declared eradicated in 1994.
The most recent outbreak of citrus canker was discovered in Miami, Dade County Florida on Sept. 28, 1995, by Louis Willio Francillon, a Florida Department of Agriculture agronomist. Despite eradication attempts, by late 2005 the disease had been detected in many places distant from the original discovery, for example, in Orange Park, FL, 315 miles (500 km) away. In January 2000, the Florida Department of Agriculture adopted a policy of removing all infected trees and all citrus trees within a 1900 ft radius of an infected tree in both residential areas and commercial groves. Previous to this eradication policy, the department eradicated all citrus trees within 125 ft of an infected one. The program ended in January 2006 following a statement from the USDA that eradication was infeasible.[4][5]


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This condo has one of the few unobstructed views of Lake Dillon that
you'll find. All rooms and the 24' deck face the lake. The two
are separated by a spacious living area. The master bedroom has a
king size bed and a double vanity with a tub and a shower. The second
bedroom has two queen beds, a separate dressing area, with additional powder sink
and access to the main bath. Both bedrooms and living room have exits
to the deck.
Convenience is the key...Parking is close in with only a few steps to
the door making loading and unloading a breeze. The complex is quiet
and private with easy access to the three outdoor hot tubs.
Excerpts from the Guest Book: 'The condo was to perfection. We only stayed a week but skiied 6 resorts and looking forward to golfing the 5 local courses in summer.' 'Best family vacation ever, great amenities and fun decorating.' 'I loved parking near the condo which is so close to the hot tubs.'
For winter enthusiasts there are five major ski areas within 15
minutes: Loveland, Breckenridge, Keystone, Copper Mountain and
Arapahoe Basin.
Vail is only 25 miles away and Beaver Creek just 5 minutes beyond
that. The area also offers cross
country skiing, snowmobiling, ice fishing, snowshoeing, moonlit
sleigh rides,
ice skating, resort night life and so much more!
Summer activities also abound in Summit County. There are five superb
resort quality golf courses within 15 minutes of the condo. Some of
the more popular activities are biking, in-line skating on numerous
paved trails accessible right across the road from the condo. Also
enjoy white water rafting, horseback riding, hot air ballooning, and
fishing, boating or sailing on beautiful Lake Dillon.
The condo is within walking distance of the Frisco Marina and
downtown area. Summit County offers free bus service to the ski
areas, factory outlet stores, and nearby towns. Excellent dining is
available at many fine restaurants with some great night life.
Rate Period | Nightly | Weekend Night | Weekly | Monthly | Event | ||||
My Standard Rate
Feb 1 - Feb 1
1 night
Fri, Sat, Sun
Payment is usually accepted in the quoted currency (USD) unless the currency and the amount is specifically agreed in advance with the owner / advertiser.
Nightly Rate: $110 - $275
01/08 - 01/31 -$185
02/01 - 04/08 -$220
04/09 - 09/30 -$150
10/01 - 11/16 -$110
11/17 - 12/16 -$175
12/17 - 01/07 -$275
Stay 6 nights, get the 7th night FREE.
(Excludes Christmas/New Year, Memorial, Presidents, Labor & Independ weekends)
All rates quoted above are per night with a minimum of two nights.


text:
Yes, financial engineering is a part of economics. Financial engineers are continuously working to crunch out less risky, more profitable financial instruments. One example of financial engineering being intertwined with the economy has to do with the mortgage-backed securities that were traded in record high numbers prior to the 2008 crisis.
Bankers were able to take large numbers of warehoused mortgages off their books by pooling the mortgages together, dividing them up into individual securities with small fractions of many mortgages in each one, and selling the contractual rights to that income as a derivative. This is a problem when ratings agencies are stamping these as investment grade securities when they're really junk.
Also, swaps are a clever instrument devised by financial engineers. They can range from simple to complex, and there are many variations of the "swap". I won't get into all of them, but they also played an important role in the financial collapse of '08. Since so many of these financial instruments are traded at enormous volumes on a daily basis, most of which were created by bankers (who call themselves financial engineers), I would have to make the argument that financial engineering is involved in economics. The argument could be made that our economy is actually predicated upon such financial instruments.
And for the other guy, an MBA would be more prudent than the mathematical finance degree. Furthermore, mathematical finance and financial engineering aren't the same thing. One is a legitimate discipline, and the other is a phantom discipline, respectively.


text:
Hello any support to assist me out. I can't login..
Yes, please have a little patience. In 15 minutes you have posted and emailed. we have replied to your email
Current Sick Marketing Beta Products: Twitter: @sickmarketing
Why I can not download any list from Sick Marketing Forum? I Registered in the Forum, but I have the trial version for 30 days. Do I need full version to use?
Yes, you can not install packets in the trial.
Forum Rules


text:
Cornbury Music Festival Tickets
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NME ticket exchange is your online ticket marketplace for concert tickets, sports tickets and theatre tickets.


text:
I use my scroll saw for making sword props for medieval fairs. I use a scroll saw pattern and just cut out the shape of the blade and sand it into a bladed edge. For safety reasons, metal swords and knives aren't allowed at most conventions so I get a lot of people asking me to re-create their metal swords in wood.
Using a scroll saw really make it pretty easy to imitate curved and complicated blade designs. Mine is designed to cut pretty big pieces of wood -- but it was expensive. If anyone wants to make wooden props, there are tons of free scroll saw patterns online! Dig in!


text:
Approximate size: 1.05 x 1.05 x 0.79 cm
True love isn't hard to find! Siam, Light Siam and Ruby crystals fill the center of this sterling silver heart-shaped bead. Combine it with other beads to make your own beloved creation. This product is part of the Swarovski Chamilia collection.
Article no.: 1125485


text:
Roll Over Image to Zoom
Gray Gingham Changing Table Storage
No longer available
- Overview
Our storage solution keeps accessories organized to help make diapering quick and simple.
- 6" wide x 16" deep x 6" high
- Fabric is woven of pure cotton gingham with reinforced sides.
- Yarn dyed for vibrant, lasting color.
- Reversible, with fabric ties at all four corners.
- Dimensions & Care
- Spot clean with a white, damp cloth.
- Shipping Info
- Please allow 5-7 business days for delivery. Delivery estimate includes monogrammed and gift-wrapped items. To confirm delivery time frames in your area, please call 800.993.4923.


text:
Computers & Laptops
Use of the Library's computers implies agreement to abide by the Library Internet Use Policy. Failure to do so may involve penalties including loss of library privileges, as well as civil or criminal liability.
Assistive Technology
The LCC Library offers special software, equipment, and facilities.
Use a Desktop Computer (PC and Macintosh)
The Library Internet stations may be used by Lane students, staff and community users at no charge.
- Software - Please contact the Computer Helpdesk at (541) 463-5277.
- Classroom computers are available for public use when classes are not in session.
- View the Library classroom calendar.
- Quick Print Stations - Located near the Circulation Desk. Use is limited to three minutes.
- Upper floor computers restricted to Library catalog.
Check Out a Laptop (PC Only)
Laptops are available at the check out counter. Laptop checkout is limited to current students only with proper ID.
- Software - Please contact the Computer Helpdesk at (541) 463-5277.
- Loan period:
- 2 hour loan - Library use only.
- 1 week loan - See the check out counter for more information.
- View the circulation policy for overdue and replacement charges.
Use Your Own Laptop
- The Library is a wifi hotspot for Lane's Student and Staff Access Network.
- Ports available in our two study rooms, and upper floor.
- Printing is not available.


text:
1st Year Analyst - Buy vs Rent Decision?!?!?!
Since I have landed (thankfully) a FT analyst position with a BB, I am now looking into what my options are for housing starting this summer. Obviously, I can be like the majority and rent as close as possible to my building in Mid-town, however I was thinking about purchasing a place instead. Call me crazy if you may - but I have been looking into possibly purchasing a place in HOBO, Jersey City, or Murray Hill just to avoid having to rent and waste all that money.
Here's what I'm thinking: Based upon a 70k salary, 15k savings, and 40k bonus I will have approximately 125k (Pre Tax).
Buy a 2BR condo for 250k and have a roommate pay monthly rent of $950.
With a 6% - 30 year mortgage my payments including maintenance fees would be around $2,200. So, Instead of renting in Mid-town or Murray Hill for around $1250 a month, I bite the bullet and buy a place where I have some equity at stake. Also, assume I will live frugally and only purchase necessary expenses (food, utilities, clothes, and the occasional social events)
Please let me know your thoughts and possibly any experiences you guys out there might have had/or knew someone in a similar boat. I know it may be a bit over my limit, but I'd much rather take this opportunity to purchase a small place while prices are at relative discounts, instead of pissing it away on rent every month then having nothing to show for it.
PM if you want more details or to talk personally.
Thanks for all your thoughts and insights
250K for 2BR condo in murray
IB250K for 2BR condo in murray hill? hahaha
Just rent. You could buy, but
OJust rent. You could buy, but now you become a landlord, homeowner, new investment banker, etc. Do you really want to work all day and deal with all those headaches? Suppose your bonus sucks, roommate moves out, pipes burst, taxes increase, get laid off and have to move, etc. Just not worth the hassle at this point in your life.
Do you have family that would
IBDo you have family that would get in on it with you?
My family's purchasing a new 3BR condo for my sister and i... it's a lot easier if your parents can throw the downpayment on and u just do the payments.
I'm going to be a first year
IBI'm going to be a first year associate and am going through the same thought process. Is that how much condo's are in Hoboken/Jersey City? I would have thought they were more.
250k is not a realistic
O250k is not a realistic budget.
I laughed when I saw you
IBI laughed when I saw you didn't want to rent because you didn't want to "waste money." Well, in addition to tying up an assload of capital in the form of a down payment, the mortgage payments are mainly interest for the first few years of any loan and then property tax plus all repairs are your responsibility. No wasted money? You've got to be kidding me. You watch too much HGTV. Rent, son.
jhoratio wrote: You watch
IBYou watch too much HGTV. Rent, son.
I made the big mistake of
OI made the big mistake of buying a house right out of college...in 2006. Rent.
No way you can buy a 2BR in
ONo way you can buy a 2BR in Murray Hill for 250k my friend...
OK so assume you could find a
IBOK so assume you could find a place for 250. Finance most of it at 5% and interest alone is around 1000 a month. Since these guys think the place will be more than you'd pay even more in interest. Def rent!
Think about the opportunity cost of that cash too. Take out the loan and put it in the DOW and rent.
You are dreaming at $250k. So
PEYou are dreaming at $250k. So that $2,200/month you project is going to be a lot higher than that. Not to mention any HOA fees your building may assess. Also, as others have mentioned - being a homeowner is a pain in the ass.
Do you intend to stay in NYC after your analyst stint? Are you sure? What if you get offered a great position at a West Coast PE firm? If you only own it for two years and have to sell, that condo is definitely not going to be a moneymaking proposition.
In the words of jhoratio:
Rent, son.
- Capt K -
"Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
I got my parents to put down
CFI got my parents to put down 400k. The took a loan for 500k which is currently @ approx. 3% interest. Repaymensts are manageable and condo is sweet.
Hit up your parents my boy. Thats why you clipped all that grass all your life.
Since I already own real
ERSince I already own real estate, I will tell you that in this market you will need two years of continous work history with the same company before you can even get approved for the loan. That should be enough to answer your question:
Rent, son.


text:
J. Christian Adams accused the DOJ of racial bias for dropping charges against the New Black Panther Party
Justice Department Whistleblower Ignored by News Media
By Jim Kouri July 9, 2010Comments| Print friendly | Subscribe | Email Us |
The Department of Justice whistleblower who resigned over the "corrupt nature of the dismissal" of the New Black Panther case testified before the U.S. Commission on Civil Rights this week. Unfortunately, except for the Fox News Channel—Megyn Kelly, Glenn Beck and others—the nation's newsrooms are ignoring the story.
At the hearing in the commission's Washington D.C. headquarters, J. Christian Adams accused the DOJ of racial bias for dropping charges against the New Black Panther Party. An attorney on the case, Adams testified that within the DOJ's Civil Rights Division there is a pervasive and open hostility towards equal enforcement of the law. So insidious is this attitude that, according to Adams, even a minority DOJ employee was harassed by DOJ Voting Section staff for working on a case with white victims.
To support his allegations regarding the culture of the Civil Rights Division, Adams cited numerous second and firsthand accounts. Notably, he stated that Deputy Assistant Attorney General Julie Fernandes told him personally that the division is "in the business of traditional civil rights work.
"In other words, it will only pursue cases with minority victims," said officials at the Washington watchdog group Judicial Watch.
His testimony before the commission focused on the New Black Panther case in Philadelphia on Election Day 2008. Members of the New Black Panthers – clad in paramilitary outfits and brandishing a club – intimidated voters as well as poll watchers.
The individuals involved are seen on videotape verbally threatening citizens, hurling profanities and racial epithets. Using the 1965 Voting Rights Act, the Justice Department brought a voter-intimidation case against the group. Despite receiving a default judgment after the defendants in the case ignored the charges, the Obama Justice Department dropped the case in May 2009.
Adams testified that the Obama Administration used a political appointee to scrutinize former Voting Section Chief Christopher Coates. When that political appointee delivered the order to dismiss the Black Panther case, he admitted that he had not even read the memos in support of proceeding with it. Additionally, Adams mentioned that the National Association for the Advancement of Colored People (NAACP) lobbied in March 2009 to have the case dismissed.
During the Hearing, Adams refused to answer several questions concerning specifics on the DOJ's handling of the case, citing fears that he would be revealing deliberative information. However, Adams confirmed that political appointees – not career attorneys – made the decision to dismiss the case.
Despite the Obama Administration's stonewalling, the hearing reinforces that the New Black Panther Party story is not going away. The lack of transparency in this case forced Judicial Watch to sue the Justice Department.
In a racial double standard, the Obama Administration instructs government attorneys in the Justice Department's civil rights division to ignore cases that involve black defendants and white victims, according to Judicial Watch president Tom Fitton.
The explosive revelation was made this week by a high-ranking Justice Department official who quit over the administration's handling of a voter intimidation case against members of the radical black revolutionary group known as the New Black Panther Party. Career Justice Department attorneys were ordered to drop a complaint against the group for bullying voters in Philadelphia during the 2008 presidential election.
Clad in military attire, members were captured on video tape intimidating white voters as they attempted to enter a polling place. The Black Panther bullies used weapons, racial insults and profanity to deter voters and federal prosecutors filed a civil complaint in Philadelphia. The case was mysteriously and abruptly killed by a top Justice Department official just as a federal judge was preparing to punish the Black Panthers for ignoring the charges and refusing to appear in court.
The order came from Loretta King, who at the time was President Obama's acting assistant Attorney General for the civil rights division. No explanation was offered for the sudden dismissal and outrage ensued among federal prosecutors handling the case. One of them is J. Christian Adams, a veteran election lawyer in the agency's Voting Rights Division. He resigned in outrage and this week is testifying before the U.S. Commission on Civil Rights, a fact-finding nonpartisan agency with subpoena power to investigate discrimination complaints.
The commission is investigating why the Justice Department dropped the Black Panther case and has subpoenaed several of the attorneys involved, even though the agency has ordered them not to cooperate. In emotional testimony, Adams told the commission that the Justice Department instructs attorneys in the civil rights division to ignore cases—like the Black Panther matter—that involve black defendants and white victims.
In May, Judicial Watch filed a Freedom of Information Act (FOIA) lawsuit against the DOJ, after the Justice Department determined that "access to the majority of the records" responsive to the request should be denied.
Jim Kouri, CPP, is founder and CEO of Kouri Associates, a homeland security, public safety and political consulting firm. He's formerly Fifth Vice-President, now a Board Member of the National Association of Chiefs of Police, an editor for ConservativeBase.com, a columnist for Examiner.com, a contributor to KGAB radio news, and news director for NewswithViews.com. He's former chief at a New York City housing project in Washington Heights nicknamed "Crack City" by reporters covering the drug war in the 1980s. In addition, he served as director of public safety at St. Peter's University and director of security for several major organizations. He's also served on the National Drug Task Force and trained police and security officers throughout the country. In addition, he's a blogger for the Cheyenne, Wyoming Fox News Radio affiliate KGAB (kgab.com) and editor of Conservative Base Magazine (conservativebase.com). Kouri also serves as political advisor for Emmy and Golden Globe winning actor Michael Moriarty. He holds a bachelor of science in Criminal Justice from Southwest University and SCI Technical School in New York City and completed training at the NYC Police Academy, FBI Continuing Education Program, and the Certified Protection Professional (CPP) of the American Society for Industrial Security. Kouri appears regularly as on-air commentator for over 100 TV and radio news and talk shows including Fox News Channel, Oprah, McLaughlin Report, CNN Headline News, MTV, etc. To subscribe to Kouri's newsletter write to firstname.lastname@example.com and write "Subscription" on the subject line. |


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zerohedge.com reports: [While not news to Zero Hedge readers who knew about the final debt settlement of US debt about 10 days ahead of schedule, it is now official: according to the US Treasury, America has closed the books on 2011 with debt at an all time record $15,222,940,045,451.09. And, as was observed here first in all of the press, US debt to GDP is now officially over 100%, or 100.3% to be specific, a fact which the US government decided to delay exposing until the very end of the calendar year. We wonder, rhetorically, just how prominent of a talking point this historic event will be in any upcoming GOP primary debates. And yes, technically this number is greater than the debt ceiling but it excludes various accounting gimmicks. When accounting for those, the US has a debt ceiling buffer of... $14 billion, or one third the size of a typical bond auction. ]
The official numbers are in and the US is now sitting at 100.3% Debt/GDP ratio and it is not looking good for the economy, but the White House has decided to wait until the right time to tell the public. How exactly does the US get to have a ridiculous debt/GDP ratio and its magically not a big deal, but when one of the European nations is working with the same ratios they are destined for collapse and must beg the IMF to bail them out with US tax dollars footing roughly 60% of the funding? The truth is that the United States is also in a very impossible mathematical scenario as far as the budget deficit is concerned. This is possible because the global media mouthpieces are all too willing to sing the same song that the US will be able to get away with this dynamic in an effort to keep the stability of the global financial system the dollar manages to preserve its global reserve currency status, for now.
The most concerning issue is that if the media talking heads were able to saturate the entire world with this 'Orwellian double speak' they would be able to pull the wool over the entire world's eyes, but they don't have total media saturation. Roughly one year ago we saw the Russia and China arrange the largest energy deal in human history and the fine print in this trade agreement specifically stated that they would NO LONGER TRANSACT IN USD FOR ANY ENERGY TRANSACTIONS BUT THE CHINESE YUAN INSTEAD! Now we see the same Chinese powerhouse making yet another trade agreement with Japan now that also removes the FED's US dollar from the reserve currency status. We are witnessing a tale of two realities emerging, one where the western media is spends every waking moment convincing you that the economic laws DO NOT apply to the United States and the US dollar and sing in unison that we are in a recovery, and one where the major economies of the world are now running not walking away from the US dollar and the collision course with reality that western economics seems to be on.
This is a concerning development, but what's more concerning to me is that the western citizens are none the wiser that soon we will find ourselves alone in the world drowning in the tens of trillions of newly printed fiat (paper) dollars that have come into existence purely for the purpose of propping up the western banks that have overleveraged themselves and need to be bailed out. What happens when the world no longer is willing to transact their labor and goods created by that labor for the US dollar? What happens when the banks have created a dynamic where the US dollar has little or no value as the world turns it's back on the very thing that defines our wealth? The answer unfortunately is that we will be drowning in those tens of trillions of US dollars as there will be copious amounts of US dollars dumped on the US citizens forcing us to deal with ever rising inflation as those dollars diminish in value as no nation in the world wants to be stuck holding them. You will watch prices skyrocket for everyday items you need to survive and this will diminish your net worth simply to provide food and shelter for your family. This can and often does turn into a panicked hyperinflationary environment where the average person quickly realizes that they will soon no longer be able to preserve their purchasing power and so they embark upon a mission to acquire those things they will need to survive and then we see a scenario where high demand goods skyrocket in price as demand rises while the purchasing power quickly fades. This economic nightmare has never ended well for anyone or any nation throughout history so it seems a little suspect to assume that it will be different for the United States.
The ONLY way to preserve your purchasing power is to remove yourself from the collateral damage zone of the US dollar and to put your wealth into a true wealth preservation tool that will do just that, preserve your wealth. The ONLY wealth preservation tool that will preserve the purchasing power of your dollars will be gold & silver and this message of salvation soon will be the talk of the town so one would do well to establish your position in the precious metals now before the hysteria begins. The good news is that the reduction in the net worth's of Americans, and citizens of the world, can and will be offset by the dramatic appreciation of gold & silver and the impossible feat of being made whole again after the housing crash has never been so simple. Establish your 'Depression Proof Insurance Policy' today in gold & silver and begin to sleep better at night as you no longer will be tossed around like a rag doll as the stock market has violent fits of wealth destruction. There will be swings in the metals markets as the banks do all they can to steer investors back into dollars and ultimately the stock market, but stay the course as the profitability of being in the metals first will create unspeakable wealth while allowing you to hold and actual hard asset that has NO COUNTER PARTY RISK instead of paper derivatives in stocks and bonds that are nothing but counter party risk.
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text:
29.06.2011 / World Bulletin
A little taste of Cuba
New Yorkers might not be able to travel to Cuba, but certainly Cuba always finds its way to the Big Apple. After all, can you picture New York City deprived of the original Cuban Mojito made from scratch with yerba buena (yep, it shouldn't be mint) served with spicy camarones?
There's a great variety of Cuban restaurants in the city, from the fancy upscale five stars rated to the smaller casual luncheonette, and they've always played a great role and contribution to the culinary offer of New York.
But why do people adore Cuban restaurants? Truth is that the authentic Cuban dining offers "the all package": good food, good music, good people.
Among the best-loved and best-rated Cuban restaurants in NYC, Cuba Café in Hell's Kitchen is definitely worth a mention: here you'll find the authentic island feel of La Habana in a colorful and tropical atmosphere that gets crazy and loud at night.
There's no reason in the world to miss the sweet and spicy aroma of its mejillones al mojo de coco along with one of the best pineapple Mojito of the city.
Greenwich Village features two of the mejor Cuban restaurants in town, the glamorous Havana Alma de Cuba on Christopher Street, for a full-immersion of hot Latin live music and flowing sangria with the choice of eating in the crowd or chilling outside in the cozy garden, and the unique Cuba on Thompson Street, popular for its Cuban guys constantly rolling free handmade cigars.
And during the summer time, what's better than cooling down for a happy hour at Ideja Latin Bistrò in Soho, the right place to say "bottoms up" for the endless list of Caribbean flavor drinks and what they call the best Mojito of New York City?
(Marina Valente)


text:
Philips energy saving T8 fluorescent lamp. ALTO technology uses less mercury for an environmentally safer lamp.
Cool white color is very popular for most businesses
T8 technology last longer than traditional T12, with greater lumen maintenance over time
Performance - well known brand name product at competitive price
(based on 1 review)
Reviewed by 1 customer
Displaying review 1
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Great Bulb, Great Price!
By Jukeboxdenny
From Upper Wisconsin
About Me Quality Oriented
Best Uses
Comments about Philips Lighting Company 30 Watt, 36 Inch T8 Cool White Fluorescent Bulb:
I was looking for a good price on a hard to find 30 watt T8 original spec bulb for replacments for my vintage jukeboxes, and am very happy with the value [...] Bulb's are nice and bright, no flicker.All my bulbs arived in perfice shape[...]Defenitly recomended.
That's why we make the process as easy as possible and pledge to never leave you in the dark when it comes to buying replacement bulbs and lighting accessories.
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text: Hello I could now compile and install all of Xorg-7.0.0. When I deleted the old /usr/X11R6 stuff and recompiled everything I noticed that I forgot to apply the find/sed commands in Mesa when I tried the first time, so now it "should" be ok. But now I wanted to run "Xorg -configure", but I receive a Fatal server error and it stops. I only installed the following drivers: xf86-input-keyboard-X11R7.0-220.127.116.11.tar.bz2, xf86-input-mouse-X11R7.0-18.104.22.168.tar.bz2 and xf86-video-nv-X11R7.0-126.96.36.199.tar.bz2. The Xorg.0.log is attached. Simon -- simon scheiwiller bollstrasse 21 ch-8405 winterthur +41 78 624 16 73 -------------- next part -------------- An embedded and charset-unspecified text was scrubbed... Name: Xorg.0.log URL: <http://lists.linuxfromscratch.org/pipermail/blfs-support/attachments/20060319/30a67c25/attachment.ksh>


text:
If you happen to have any branches to add to this tree, please contact me via email and let's put our stories together! Thanks! |
Nichols Geneaology
Updated August 11, 2001 |
Michael S. Nichols |
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text:
Marit Stiles promoted at ACTRA
Marit Stiles has been promoted by ACTRA to the position of national director, public policy and communications from her previous posting as the actor organization's national director of research.
She assumes the role immediately, ACTRA announced Friday.
She replaces Joanne Deer, who held the position for four years. Deer took a position at NOW Communications, a Vancouver-based advertising company.
Stiles headed the research team for seven years, and participated in the negotiation of all of ACTRA's major collective agreements, including the National Commercial Agreement, the Independent Production Agreement and the broadcast agreements involving the NFB, CBC, and CTV. She has also represented ACTRA on a variety of multi-organization working groups, such as the Canada Media Fund Working Group.
Stiles likely has a busy workload, as ACTRA is set to begin bargaining a new Independent Production Agreement with the CMPA and the APFTQ next week.
Tags: ACTRA, collective bargaining, Independent Production Agreement, Joanne Deer, Marit Stiles
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text: Fit in anywhere. Stand out everywhere. baggallini travel bags and luggage are in style, no matter where you land. Designed to be lightweight and featuring exceptional storage, our travel bags and rolling totes are the perfect travel companion. Travel is easy with the variety of purses, backpacks, luggage and accessories from baggallini.


text:
Does anyone know if there are any other uses for burning lasers? These are some great uses, but I'm sure there's more variety than this. After all, technology can work wonders, and people are always finding new ways of using equipment.
On another note, I agree with you guys...this stuff is rather dangerous! Unless you have years of experience, always handle equipment with careful supervision. You never know what might happen.


text:
Crazy Woman Launches Herself In Fight at Sugar Bowl An Alabama Mom goes crazy on an OU student in the stands. 1/5/2014 11:26:02 AM 9,081 23
Guy Chugs a Bottle of Maple Syrup He died of diabetes later that day... 1/15/2013 12:00:00 AM 13,034 34
Sugar Sugar Draw and get enough sugar in the cups! Complete all 30 levels to unlock the... 2/28/2011 12:00:00 AM 30,800 31


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text:
The Grow Truck program operates from March to November. We will begin delivering tools again in March 2015.
GrowNYC's Grow Truck program traverses all five boroughs to lend and deliver garden tools, plants, and horticultural advice to community greening efforts. Schools, community gardens, block associations, and any new garden efforts are eligible to borrow tools. The Grow Truck loans out both specialized and common manual garden tools, and may also be able to deliver plants, soil, or other garden supplies you have arranged to be donated.
To borrow tools, please fill out the form below. Forms can also be downloaded and e-mailed to email@example.com, faxed to (212) 788-7913, or mailed.
To obtain other Grow Truck services and/or ask questions about tool loans, call 212-788-7935 or email us.


text:
- Description
- Specs
- Reviews
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Everyday Low Price: $149.99
Gold Club Price: What's This? $134.99
J&P Part: 351-804
This item qualifies for free ground shipping
Mblwhite Posted:
Product seems to be well made and of good quality. Zip out liner seems nicely made, zippers also seem durable. I ordered small, I am 29- 30 Waist, 5'6 140 lbs. overall they fit with some waist adjustment, (overlapped waist belt in back). I'll let you know what I think after I ride in them..
jstanfa Posted:
Good quality leather and fabrication. Sizing chart is inaccurate. had to return twice to get correct size
wannabeturbo Posted:
Good quality. Nice fit. Keeping me warm into the upper 30's.
firstname.lastname@example.com Posted:
These are good quality leather. After reading other reviews I decided to give them a try. Found the sizing chart and did measurements. Based off of that I bought mediums. They were way too small so I returned them and exchanged for a large. They arrived and are really snugg with jeans on. So now I order the XL, lets see how that goes. Also the grommets on the string adjustment there was already one missing and like other reviewers I give that a weak point.
jbeauchamp Posted:
First Manufacturing Chaps are of the highest quality as is the service I've received at J&P Cycles. Have since purchase a vest and I'm equally thrilled with the product and customer service I've received.
bamf1978 Posted:
fits like a charm, well crafted
Darkbeer Posted:
These seem like decent chaps, put together well. I found the manufacture site and got the sizing but found I could have ordered a medium instead of a large. Seems to run a bit big. The only complaint I have is the grommets used on the belt and the back side are very cheap, otherwise a nice pair of chaps that have a removable liner for warmth.
glusic Posted:
They are awesome...comfortable, warm, and looks great too. No complaints here.
dannyhartranft Posted:
Real nice. Looks good and fast service.
KMyers2 Posted:
Good quality, well worth the money.
majgross Posted:
Comfortable chaps with good, soft leather. None of that overcooked leather you get from cheaper products.
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