Wednesday, April 1, 2009
Back In the Saddle Again
This last item has caused no small amount of controversy in my life. In 2003 I was involved in a horrendous accident that caused me to break both arms, several ribs, and puncture a lung. So, as you can imagine, those in my life who love me have been questioning my sanity. The reasons I have for insisting on following through with this purchase after what has happened to me are first and foremost mine, but I will see if I can't shed some light on my thought processes.
In a nutshell, I have unfinished business with motorcycling. When I left it in 2003, I did so because at the time I was both physically and financially incapable of doing motorcycling as a hobby. 6 years later things have changed in both regards. Beyond that though, I have unfinished business with motorcycling. I have a number of long trips that I never took. Probably more important to me, I have a passion that I can share with my father, something that I have been looking for since I was a teenager. These 2 things are probably the biggest things I can think of for picking up where I left off.
Among other reasons I have for taking up this thing again, there has always been a Zen that I have experienced when I ride. Read Zen and The Art of Motorcycle Repair to really get an idea of what I'm talking about. Simply put, motorcycling was a form of meditation for me, and I hope it will be in the future. There is something basic for me that I get when I strip away all of the things that a car puts between me and the world.
So, if you have any questions about why I'm doing this, read my above post. I recently heard a John Mellencamp song called Longest Days. In that song there is a chorus that sings "life is short even in its longest days" I could wait 20 years to take up riding again, but 20 years from now is not guaranteed for me, and things then will not be what they are now. So I do this now and spend every minute I'm doing it thinking about my son and what I am doing so that he can have a father to do the same. I don't go into this lightly, and you don't go through an accident like that without learning some things, or thinking about your safety or your surroundings. That being said, you also shouldn't stop living.
Friday, August 22, 2008
Gas Price Explanation
A Few Speculators Dominate Vast Market for Oil Trading
washington_po284:
http://www.washingtonpost.com/wpdyn/content/article/2008/08/20/AR2008082003898.html
By David Cho Washington Post Staff Writer Thursday, August 21, 2008; Page A01
Regulators had long classified a private Swiss energy conglomerate called Vitol as a trader that primarily helped industrial firms that needed oil to run their businesses.
But when the Commodity Futures Trading Commission examined Vitol's books last month, it found that the firm was in fact more of a speculator, holding oil contracts as a profit-making investment rather than a means of lining up the actual delivery of fuel. Even more surprising to the commodities markets was the massive size of Vitol's portfolio -- at one point in July, the firm held 11 percent of all the oil contracts on the regulated New York Mercantile Exchange.
The discovery revealed how an individual financial player had gained enormous sway over the oil market without the knowledge of regulators. Other CFTC data showed that a significant amount of trading activity was concentrated in the hands of just a few speculators.
The CFTC, which learned about the nature of Vitol's activities only after making an unusual request for data from the firm, now reports that financial firms speculating for their clients or for themselves account for about 81 percent of the oil contracts on NYMEX, a far bigger share than had previously been stated by the agency. That figure may rise in coming weeks as the CFTC checks the status of other big traders.
Some lawmakers have blamed these firms for the volatility of oil prices, including the tremendous run-up that peaked earlier in the summer.
"It is now evident that speculators in the energy futures markets play a much larger role than previously thought, and it is now even harder to accept the agency's laughable assertion that excessive speculation has not contributed to rising energy prices," said Rep. John D. Dingell (D-Mich.). He added that it was "difficult to comprehend how the CFTC would allow a trader" to acquire such a large oil inventory "and not scrutinize this position any sooner."
The CFTC, which refrains from naming specific traders in its reports, did not publicly identify Vitol.
The agency's report showed only the size of the holdings of an unnamed trader. Vitol's identity as that trader was confirmed by two industry sources with direct knowledge of the matter.
CFTC documents show Vitol was one of the most active traders of oil on NYMEX as prices reached record levels. By June 6, for instance, Vitol had acquired a huge holding in oil contracts, betting prices would rise. The contracts were equal to 57.7 million barrels of oil -- about three times the amount the United States consumes daily. That day, the price of oil spiked $11 to settle at $138.54. Oil prices eventually peaked at $147.27 a barrel on July 11 before falling back to settle at $114.98 yesterday.
The documents do not say how much Vitol put down to acquire this position, but under NYMEX rules, the down payment could have been as little as $1 billion, with the company borrowing the rest.
The biggest players on the commodity exchanges often operate as "swap dealers" who primarily invest on behalf of hedge funds, wealthy individuals and pension funds, allowing these investors to enjoy returns without having to buy an actual contract for oil or other goods. Some dealers also manage commodity trading for commercial firms.
To build up the vast holdings this practice entails, some swap dealers have maneuvered behind the scenes, exploiting their political influence and gaps in oversight to gain exemptions from regulatory limits and permission to set up new, unregulated markets. Many big traders are active not only on NYMEX but also on private and overseas markets beyond the CFTC's purview. These openings have given the firms nearly unfettered access to the trading of vital goods, including oil, cotton and corn.
Using swap dealers as middlemen, investment funds have poured into the commodity markets, raising their holdings to $260 billion this year from $13 billion in 2003. During that same period, the price of crude oil rose unabated every year.
CFTC data show that at the end of July, just four swap dealers held one-third of all NYMEX oil contracts that bet prices would increase. Dealers make trades that forecast prices will either rise or fall. Energy analysts say these data are evidence of the concentration of power in the markets.
CFTC leaders have argued that speculators are not influencing commodities' prices. If any new information arises during the agency's examination of swap dealer activity, officials said they would report it to Congress.
"To date, the CFTC has found that supply and demand fundamentals offer the best explanation for the systematic rise in oil prices," CFTC spokesman R. David Gary said, reading a statement that had been crafted by agency officials. "Regardless of their classification . . . the CFTC's market surveillance group scrutinizes daily the positions of all large traders, both commercial and non-commercial, to guard against market manipulation."
Victoria Dix, a spokeswoman for Vitol, declined to answer questions. The firm, through Dix, released a statement that stated only that it had not been contacted by the CFTC about the reclassification of its business and that its trading status remained unchanged. CFTC officials said they do not typically contact firms that are reclassified.
On its Web site, the firm says it has $100 billion a year in revenue and describes its thriving global energy-trading business.
For most of the past century, regulators put limits on financial actors to prevent them from dominating commodity exchanges, which were much smaller than the bond or stock markets. Only commercial operations, such as farms, airlines, manufacturers and the middlemen that handle their trading activities, were allowed to buy nearly unlimited quantities. The goal was to allow these businesses to minimize the effect of price swings.
The first major change to this regulatory framework occurred in 1991, when Goldman Sachs, through a subsidiary called J. Aron, argued that it should be granted the same exemption given to commercial traders because its business of buying commodities on behalf of investors was similar to the middlemen who broker commodity transactions for commercial firms.
The CFTC granted this request. More exemptions soon followed, including one to the Houston-based energy trader Enron.
"When the CFTC granted the 1991 hedging exemption to J. Aron (a division of Goldman Sachs), it signaled a major shift that has since allowed investors to accumulate enormous positions for purely speculative purposes," said Rep. Bart Stupak (D-Mich.) Now, he added, "legitimate businesses that hedge and take physical delivery of oil are being trampled by the speculators who are in the market purely to make profit."
A second turning point came when Congress passed the Commodity Futures Modernization Act of 2000. The law formally allowed investors to trade energy commodities on private electronic platforms outside the purview of regulators. Critics have called this piece of legislation the "Enron loophole," saying Enron played a role in crafting it.
In the months after the act was passed, private electronic trading platforms sprang up across the country, challenging the dominance of NYMEX.
"Investment banks had been frustrated with the established exchange because they really were never able to get control of it," said Michael Greenberger, a law professor at the University of Maryland and a former staff member at the CFTC.
The most successful of the private platforms was InterContinental Exchange, or ICE, founded by Goldman Sachs, Morgan Stanley and a few other big brokerages in 2000. ICE soon opened a trading platform in London, allowing its founders to trade vast quantities of U.S. oil overseas without being subject to regulation.
The exemptions for swap dealers and the development of overseas markets allowed big brokerages to open the door for more hedge funds, pensions and big investors to move into commodities.
In the coming years, commodity investments by funds could grow to $1 trillion, veteran hedge fund manager Michael Masters said in testimony before the Senate earlier this year. In an interview, he said this trend could raise commodity prices for everyone in the coming years and "have catastrophic economic effects on millions of already stressed U.S. consumers."
Meanwhile, commodities have been good business for big Wall Street brokerages. Its commodity trades helped keep Goldman Sachs profitable during the credit crisis, said Richard Bove, a banking analyst at Ladenburg Thalmann.
"Business is lousy right now," Bowie said of Goldman Sachs. "Commodities and currencies are clearly the strongest business they have right now."
In the coming months, swap dealers expect to have yet another venue for oil speculation. The CFTC has stated it would not stand in the way of trading in U.S. oil contracts overseas in Dubai. Goldman Sachs and Vitol are among the major investors in this new exchange.
Friday, July 11, 2008
New iPhone
Tuesday, June 17, 2008
3g iPhone is finally here!
Just now at WWDC, Steve Jobs confirmed the long-rumored iPhone 3G, which is what he actually called it. It hits stores in the US and over 70 other countries on July 11th. Here it will costs $199 for the 8GB version, and $299 for the 16GB one (in black and white).
Here are the additional key details, plus the official press release from Apple:
Key Features:
Charcoal Back
Solid Metal Buttons
Same 3.5" Display
Camera
Flush Headphone Jack
Dramatically Improved Audio
3G Advantage
Showing a EDGE vs 3G comparison loading a webpage, 3G took 21 seconds. EDGE...waiting...waiting...uhh...59 seconds! Same phone, same location. 2.8X faster - and they claim loads webpages faster than Nokia N95 (33 seconds) or Treo 750 (34 seconds).
Battery Life
10 hours 2G talk time
5 hours 3G talk time
5-6 hours of high-speed browsing
24 hours of audio playback
And GPS!
And it's coming to 70 countries over the "next several months."
More Affordable
$199 for 8GB
$299 for 16GB (which also comes in white)
Coming July 11th
Apple Introduces the New iPhone 3G
Twice as Fast at Half the Price
SAN FRANCISCO, June 9 /PRNewswire-FirstCall/ — Apple(R) today introduced the new iPhone(TM) 3G, combining all the revolutionary features of iPhone with 3G networking that is twice as fast* as the first generation iPhone, built-in GPS for expanded location based mobile services, and iPhone 2.0 software which includes support for Microsoft Exchange ActiveSync and runs the hundreds of third party applications already built with the recently released iPhone SDK. In the US the new iPhone 3G is priced at a stunning $199 for the 8GB model, and just $299 for the 16GB model.** iPhone 3G will be available in more than 70 countries later this year, beginning with customer availability in 22 countries — Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, UK and the US — on July 11.
"Just one year after launching the iPhone, we're launching the new iPhone 3G that is twice as fast at half the price," said Steve Jobs, Apple's CEO. "iPhone 3G supports Microsoft Exchange ActiveSync right out of the box, runs the incredible third party apps created with the iPhone SDK, and will be available in more than 70 countries around the world this year."
iPhone 3G gives users ever faster access to the Internet and email over their cellular network with quad-band GSM and tri-band HSDPA for voice and data connectivity around the world. iPhone 3G supports Wi-Fi, 3G and EDGE
networks and automatically switches between them to ensure the fastest possible download speeds. The new iPhone 3G also makes it easier to multi-task with simultaneous voice and data communications, so with iPhone 3G you can browse the web, get map directions, or check your email while you are on a call.iPhone 3G includes the new iPhone 2.0 software with both the iPhone SDK and key enterprise features such as support for Microsoft Exchange ActiveSync to provide over-the-air push email, contact and calendar syncing as well as remote wipe and Cisco IPsec VPN for encrypted access to corporate networks. The iPhone SDK allows developers to create amazing applications that leverage the iPhone's groundbreaking Multi-Touch(TM) user interface, animation technology, accelerometer and GPS technology on the world's most advanced mobile platform.
iPhone 3G includes the new App Store, providing iPhone users with native applications in a variety of categories including games, business, news, sports, health, reference and travel. The App Store on iPhone works over cellular networks and Wi-Fi, which means it is accessible from just about anywhere, so you can purchase and download applications wirelessly and start using them instantly. Some applications are even free and the App Store notifies you when application updates are available. The App Store will be available in 62 countries at launch.
Additional features available with the iPhone 2.0 software include the ability to do real-time mapping and track your progress with GPS technology, mass move and delete multiple email messages, search for contacts, access a new scientific calculator, turn on parental control restrictions for specified content, save images directly from a web page or email them to your iPhone and easily transfer them back to your photo library on your Mac(R) or PC. iPhone 3G delivers an amazing 10 hours of talk time on 2G networks and 5 hours using 3G, with up to 5 to 6 hours of web browsing, up to 7 hours for video playback and up to 24 hours for audio playback.
iPhone 3G takes advantage of MobileMe(TM), a new Internet service that pushes email, contacts, and calendars from an online "cloud" to native applications on iPhone, iPod(R) touch, Macs and PCs. With MobileMe email, messages are pushed instantly to iPhone, removing the need to manually check email and wait for downloads, and push keeps contacts and calendars continuously up-to-date so changes made on one device are automatically updated on other devices. With iPhone, you can even snap a photo and post it directly to a MobileMe Gallery to share with friends and family.
iPhone 3G will be available in the US on July 11 for a suggested retail price of $199 (US) for the 8GB model and $299 (US) for the 16GB model in both Apple and AT&T's retail stores and requires a new two year contract with AT&T for qualifying customers. iPhone 2.0 software will be available on July 11 as a free software update via iTunes(R) 7.7 or later for all iPhone customers. For further information about iPhone 3G pricing and availability in the US and internationally, visit http://www.apple.com/iphone.
* Based on 3G and EDGE testing. Actual speeds vary by site conditions.
** Based on iPhone 3G (8GB) and first generation iPhone (8GB) purchases. Requires new two year AT&T rate plan, sold separately.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh.
Today, Apple continues to lead the industry in innovation with its
award-winning computers, OS X operating system and iLife and professional applications. Apple is also spearheading the digital media revolution with its iPod portable music and video players and iTunes online store, and has entered the mobile phone market with its revolutionary iPhone.NOTE TO EDITORS: For additional information visit Apple's PR website (http://www.apple.com/pr/), or call Apple's Media Helpline at (408) 974-2042.
(C) 2008 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone, Multi-Touch, MobileMe, iPod and iTunes are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
Tuesday, May 13, 2008
Metallic Glass
Gallery: How to Make Superstrong, Superflexible Metals
PASADENA, California -- Researchers at Caltech are pioneering new ways to make superstrong metals that are twice as tough as titanium, and twice as elastic. These "metallic glass" composites are so strong a 3mm rod can support a 2-ton truck and they bend instead of snapping like most other metals of their kind, which are called "glass metals."
The new metals can potentially be used in industries from aerospace to automotive, as well as in consumer electronics. Because the alloy is so strong, less metal is needed, so spacecraft and cars would be lighter.
Glass metals have been around since the '50s. They get their exceptional strength from their disordered atomic structure (hence the "glass" name), whereas most metals have a weaker, crystalline atomic structure that follows a pattern. The downside of the glass structure is that it makes the metal brittle when it's put under too much pressure. The new composites have dendrites of normal crystalline metal structures running through the glass component, which greatly increases the pressure threshold of the alloys.
Left: Making metal composites starts with a special arc welder that completely melts a sample, breaking its crystalline structure and uniformly mixing its atoms. Here, an arc of plasma springs from an electrode to a sample of titanium alloy, melting it instantly. The sample now has the structure of a regular glass metal. Forming the crystalline dendrites comes later in the process.
: Photo: Dave Bullock/Wired.comThe plasma arc melter can be used to melt nearly any metal except beryllium. When beryllium is melted, it produces vapor that mixes with air and oxidizes forming beryllium-oxide, a dangerous carcinogen. The samples that contain beryllium (even a tiny amount) must be melted inside a similar plasma arc melter inside a room that has negative pressure to prevent the beryllium-oxide from escaping.
: Photo: Dave Bullock/Wired.comA piece of extremely dark welding glass prevents the brilliant white light from blinding the experimenter while the sample melts. When the shield is removed, an incredibly bright beam of light shines on the wall, lighting up the room in the process.
: Photo: Dave Bullock/Wired.comAn ingot of metallic glass glows bright orange after it's heated to more than 3,000 Kelvin with an arc of plasma. The copper base is flooded internally with cold water to prevent the copper from vaporizing when the sample is melted.
: Photo: Dave Bullock/Wired.comNow that the sample alloy has been melted into a homogenous glass, it's time to form the dendrites inside. Ph.D. candidate Douglas Hofmann must first make sure that water is flowing through the copper tray where the sample rests or the tray will rupture from the heat.
Next, the glass vacuum tube that holds the sample and the tray must be emptied of air and replaced with a noble gas such as Argon (held in the blue tanks). This prevents the sample from oxidizing. Finally, Hofmann cranks the dial on the radio frequency inductor to heat the metal sample on the tray to 800-1,000 degrees Celsius.
: Photo: Dave Bullock/Wired.comThe radio frequency inductor coils heat an alloy sample to between 800 and 1,000 degrees Celsius in a matter of seconds. The goal here is to heat the sample below its melting point to allow only a specified portion of the atoms to form in a crystalline structure. This is the groundbreaking technique that creates the fortifying dendrites within the glass structure.
About 200 volts at 50 amps of radio-frequency energy is pumped through the coil, which heats the sample using induction. The coil itself doesn't get hot, but the sample obviously does. The radio frequency induction provides more control during heating than the arc melter -- control that allows scientists to tweak the composition of the alloy to their specifications.
: Photo: Dave Bullock/Wired.comA sample of metallic glass composite cools on the melting trough.
: Photo: Dave Bullock/Wired.comThis copper tray failed instantly and ruptured when a student forgot to turn on the cooling pump during the experiment. The copper has a much lower melting point than the various metals that melt atop it, but thanks to its high level of thermal conductivity, it transfers the heat into the water -- as long as the water is moving.
: Photo: Dave Bullock/Wired.comSeveral ingots of metallic glass composite are ready to be machined and mechanically tested.
: Photo: Dave Bullock/Wired.comThis scanning electron microscope takes detailed photos of the surface structure of materials, including the metallic glass composite that Hofmann is creating.
: Image courtesy Douglas C. Hofmann/Nature 451A microscope image shows how the crystalline dendrites affect the way the metals handle pressure. On the left is a composite with a smaller percentage of dendrites, in the middle is a sample with a higher percentage, and on the right is a pure glass metal with no dendrites.
: Image courtesy Douglas C. Hofmann/Nature 451This electron micrograph shows a sample with both crystalline dendrites (labeled "bcc" for body-centered cubic) and glass structures. Compare the ordered geometric matrix of the atoms on the left to the random placement of the molecules on the right (glass).
Tuesday, April 22, 2008
Other Cool Automagic Tech - Wind Turbines
The good: it's free, it doesn't pollute, & you can stick it to the "MAN" at the power company.
The bad: the wind ain't always blowin, you're neighbors might consider you "that environmental weirdo", you may find that the power company doesn't feel warm and fuzzy about losing profits.
Here's a tree hugger blog entry on an affordable one you could hook up to your house.
A Personal Wind Turbine For $500: The Air-X
by Justin Thomas, Virginia on 03.23.06
Science & Technology (alternative energy)
The Air-X is a small wind turbine designed to be used by home owners. It has recently been updated to reduce the noise of the blades, and they've added some microprocessor-based technology to improve battery charging. The manufacturers say this turbine can charge “any size battery bank from 25 to 25,000 amp hours or higher”. The internal charge controller periodically stops charging, reads the battery voltage, and decides on the spot whether to continue charging or stop completely. The result is longer battery life and no overcharging. It's available from Affordable Solar and Sundance Solar. :: Via Groovy Green
Earthday
First, around KY gas is now running $3.59 per Gallon, that means that your "average" 15 gallon gas tank costs $53.85. That's a lot more expensive than Americans are used to paying for gas (even in inflation adjusted terms). Oil topped $119 per barrel today. Tonight I'll raise a glass of vodka (ethanol) in a wish that the oil market will collapse the way it did in the early 80's. I admit it, I'm spoiled and want my cheap gas back. Of course I'll always take a raise at work instead, but the bottom line is that it makes it a heck of a lot harder to live from day to day. If there was a train/bus/transit system that ran from the city I live in to the city I work in, I would use it, but there isn't and that's just my reality.
Here's a Carbon Footprint Calculator for you to see how much pollution you put in the air over the course of a year. Me, I do about 10 tons. I'll be better next year...I promise.
Zerofootprint Offers Earth Day Carbon Calculator
by Ron Dembo, Zerofootprint on 04.22.08
Business & Politics (news)
Zerofootprint’s Earth Day Carbon Calculator offers a means to honour the day by measuring your personal impact on the earth. Check it out here:
This particular calculator does a quick calculation of your carbon emitting activities, and provides you with an estimate of your overall personal carbon footprint. Toggle with the answers to see how small changes can make a big difference to your footprint, then make pledges or learns tips to reduce. Keep in mind this only tracks you personal actions, and that in terms of a national average, industry and public services actually pull individual averages up quite a bit higher.
If this calculator is not detailed enough for you, go check out the personal carbon manager offered by Zerofootprint, which takes into account numerous other factors than are available on the shorter one. Alternatively, download the Carbon Calculator Facebook application and challenge some of your friends to measure their footprint.
Zerofootprint is a Canadian not-for- profit whose philosophy is that understanding how your personal actions contribute to climate change is an important first step taking positive steps towards a sustainable future for our planet.
Let us know how the calculators work you by posting back, or emailing us at info@zerfootprint.net