March 9, 2012

Why is Covering the Spread So Important?

by Steve Dana

So I’m watching my friends on FOX News this afternoon and they were talking about an Auburn University basketball player suspected of point shaving.  One of the panelists asked about why it was such a big deal and Sheppard Smith made it sound as though something important was on the line when what is really on the line is the integrity of sports betting.

For many years the government prohibited sports betting on college sports but relaxed the regulation because of pressure from some high level interest group; I would imagine.

I would imagine it was the sports gambling industry.

So except for the gambling aspect, what is the big deal?  If a player by intention doesn’t play as hard as he normally does and his team suffers, the coach sits him on the bench or releases him from the team.  A coach’s job might be on the line for losing but federal authorities should never be involved.

We have a possible FBI investigation for a college basketball player supposedly failing to score up to his average when in neither of the games cited was the Auburn team favored to win so shaving wouldn’t be an issue unless the underdog was supposed to cover the spread and the shave was to prevent it.

If there is this kind of attention paid to college sports because of gambling, take the incentive off the table by reinstituting the ban on betting!  The government shouldn’t have a reason to investigate college athletics, there are too many other places where they should be focusing their investigations.  Lets’ get them working on the important stuff.

February 24, 2012

Does Gas Really Have to Sell for $5 a gallon

by Steve Dana

So I’m watching the O’Reily Factor from LA on Wednesday February 22nd, and Bill is talking to this oil industry guy; asking him about the available inventory of gasoline, diesel and jet fuel and the guy admits that there is no shortage of product. Quite the contrary, they are exporting product.

Bill is trying to pin down the guy about price at the pump and whether the oil companies are manipulating the price.

It turns out that available oil in the pipeline (so to speak) is more than adequate to handle our domestic needs but the market price of oil doesn’t directly dictate the value of refined products.  Fluctuations in the market price for oil have a general impact on gasoline price but world demand for refined products like jet fuel, diesel and gasoline allow additional profits to be generated by refiners jacking up the price and selling it to the highest bidder; some of whom are foreign.

So, the oil we refine in this country does not just supply the American market.  Both the foreign sourced oil and the Native American oil comes to the American refiners and they refine it here and send it back over seas.  I wasn’t aware of that.  I guess I assumed that we consumed the entire output of refined product here. 

Every time there is a seasonal change-over they blame refinery capacity for the price increase and a supposed shortage of product to meet domestic demand.

I don’t know about you all, but that’s disappointing to me.  I think most of us thought there wasn’t enough refining capacity here to handle our domestic needs and so shortages and higher prices had to be the result.

I know that we live in a global economy so I understand how the market works but if we’re trying to reduce our dependence on foreign oil to keep prices down at the pump the global market will still increase the price for oil and so the price of gasoline, jet fuel and diesel but shifting the recipient of the windfall to American price gougers rather than Venezuelans, Saudis or Iraqis.  That is not comforting to me in the least.

Increasing oil production in this country will not reduce the price of gasoline at the pump if China offers to pay refiners here more than Americans will.

I guess we need a disincentive to export American oil or at least refined petroleum products so that Americans can benefit from having a plentiful supply of oil in the ground rather than any oil company willing to drill and pump it out.  Maybe it might come in the form of a tariff for refined products; or oil pumped from public land.  That part may require further discussion and analysis.

Bill O’Reily certainly gave me a lot to think about.  I wonder if anyone else was paying attention that can actually do something about it.

January 31, 2012

Who Do You Want Answering the Red Phone in the Middle of the Night?

by Steve Dana

The primary in Florida is now in the books and Romney appears to be on his way; a big win for Mitt, but at what cost?  I guess Romney proved he can get down into the mud and sling it with Newt but he spent four or five times as much money as Gingrich to achieve it.  So was it the mud slinging by itself or was it the sheer volume of it? 

I suspect that with apparently unlimited funds Romney can steamroll the field doing negative campaigning.  I am not comforted by this win.  If the old adage “the one who pays the fiddler gets to call the tune” is true, then who now owns Mitt Romney?  I seriously doubt it’s regular folks like us.

At this point in the campaign I have to admit that I’m a Newt fan.  In spite of his baggage I think he is a leader where I have my doubts about Romney.  For folks of my persuasion I think Newt’s more likely to fight for the Constitution than Romney.  Strangely, I think of him as being more predictable than Romney.  Maybe not in the sense that he will go along with mainline Republicans, but that he will be his own man.  Some of us are not comfortable with mainline Republicans currently in positions of leadership in the Congress.  Their priorities are not consistent with my own.  As a matter of fact, their priorities are strangely similar to many of the mainstream Democrats.  Get re-elected and let the Goldman Sachs bureaucrats call all the shots.

One of my big problems with Romney is his lack of consistency on important issues.  Another maybe more important problem is his roots deep within the ranks of the Goldman Sachs/Wall Street insider crowd.  In my view, some of those guys were clearly criminals and many others were borderline but I doubt that Romney’s Justice Department would be any more likely to pursue them than Obama’s has.

If there is a basis for the Occupy Wall Street movement it’s the failure of the government to prosecute anyone for the Fannie/Freddie debacle or the bankruptcies of Lehman Brothers and Merrill Lynch.  If there were no criminal acts perpetrated during that whole time by any of the companies that either failed or were bailed out I would be astounded.  And if those guys were allowed to conduct their businesses in such a way that so many of us were exposed to unimaginable risks, the government regulators should be prosecuted.  Or if the law of the land is written such that everything was legal then our Congress should be impeached and sent to prison.  Somebody besides everyday Americans has to be held responsible.

The government spends considerable funds pursuing blue collar criminals but sadly the white collar criminals responsible for collapsing the housing and mortgage industries are walking free with millions of dollars at the expense of the rest of us.  What message is the government sending with no prosecution for any of the culprits responsible for a multi-trillion dollar scandal?

If those mucky mucks at Fannie and Freddie were justifiably rewarded with hundreds of millions in bonuses then the folks who authorized those contracts should be in prison.

I don’t know that Mitt Romney is owned by the Wall Street crowd, but I fear he is beholding to them enough that justice will never be served if we are counting on President Romney to pursue them.  Mitt Romney’s record exposes a guy who is not a fighter.  Romney goes along to get along and that is not the kind of guy I want in the White House.

When the Red Phone rings in the middle of the night I think I would prefer that Newt or even Rick Santorum answered rather than Mitt Milquetoast Romney.

Chris Christie, John McCain and a slug of other Republicans assure us that Mitt’s the man for the job.  I guess only time will tell.  I hope that there is substance in their support rather than a fear of Newt Gingrich driving their efforts to get Romney elected. 

I know our country cannot take another four years of Obama so if Mitt’s “our” guy and we all work to get him elected then we will find out if he’s the good guy John and Chris say he is.  I pray for our country that they are right.

December 29, 2011

A Toast to the New Year

by Steve Dana

As 2011 comes to an end I can’t help but look back and wonder where it went.  It seems like just last month that we started the year anew, and like last week that football season started.  And yet, both are about over with neither ending particularly well.

I’ve come to the conclusion that the older you get, the faster time (seems to) passes.  I know, science taught me that all days are about twenty four hours in length, but the hours of daylight and dark change every day so we often characterize the days as getting longer or shorter as the seasons change.  Similarly, my older friends (and I) think the days just fly by while my grand sons complain about how time drags.

Since I am only 61, going on 62, I’ve got to wonder what it’s like for someone in their eighties.  Just visualize the hands on our life clock spinning faster and faster.  Finally, out of control, then exploding at the end with springs and gears spread around the room like shrapnel.  Time runs out and another old guy bites the dust.

It was four years ago today that my old dad’s time ran out.  It doesn’t feel like four years have passed but the calendar says otherwise.  It’s not that I dwell on it because I don’t.  He lived a great life and if you can have a good death, he did.  Right up to a couple days prior to his passing, he was alert and interacting with family and friends.  He was eighty-two years old; how could anyone complain about that?  I think about him often.

As January approaches I look forward to a new beginning like my old dad looked for new life in his flower beds.  Not that he ever planted one himself since he was not a gardener like others in the family. But, he was so optimistic every January because in spite of last year’s hardships new life popped up in the new year.  He really believed the new year signaled a rebirth with unlimited possibilities.

So, I’m looking for the crocuses in the garden pushing their way up through often frozen dirt symbolizing the positive outlook of a new year; bursting forth in all their glory announcing to everyone “it’s great to be alive!”  I’ll drink to that!  Here’s to a much better 2012!