Friday, September 17, 2010

Constitution Day Randomosity

  • The early morning stock pop faded quickly, and now the market is relatively flat.  Profit taking and resting after a huge run or running into the top of the trading range and ready to go back down?  Hmm…
  • What else is flat?  Inflation!  So, that’s good news for those worried about the Fed jumping in and raising rates, and crushing the bond market.
  • Americans’ net worth falls.
  • So where is the oil from the gulf oil spill?  On the gulf floor, say the scientists.  So all that stuff about oil being lighter than water and rising to the top was a bunch of garbage.  Well, there isn’t scientific consensus.  The science isn’t settled:

Not all scientists agree with this assessment.

Ed Overton, a Louisiana State University chemist who has analyzed the spill for NOAA, doubted much oil was resting on the bottom. He said the heavier components in oil — the asphalts — make up only about 1 percent of the oil that was spilled.

And Roger Sassen, an organic geochemist at Texas A&M University who has studied natural oil seeps, said so much oil seeps naturally into the Gulf each year that it's hard to argue that the BP spill will make a significant difference.

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