A few interesting graphs

Larry Kudlow, in an amazing bit of hackery even for him, linked yesterday's drop in crude futures to an upcoming announcement by some Democrats--possibly even backed by Senator Reid--to join the DRILL DRILL DRILL™ crowd:

Isn’t it funny that news reports this morning showing that Sen. Harry Reid will in fact allow a drill, drill, drill amendment to come to the Senate floor seem to have triggered a $3 drop in oil to less than $122 a barrel. Is this a coincidence? I don’t think so. More like cause-and-effect.

So now we've gone from saying that oil prices will drop 10 - 20 years from now as a result of decisions we make today, to a minute-by-minute response in the futures markets as to who might have said what on Capitol Hill about maybe discussing the option of not banning drilling. Uhm yeah, right, whatever:

Looks more like a correction based on reduced demand that's been going on for a few weeks now. But if one is paid to spin, then one comes up with these sorts of things. Besides, even if Congress allows it, they'd still have to trample over the wishes of local residents to get to that oil. Who amongst us would like to take the first step in ensuring coastal states like Florida and California won't elect another member of our party for the next 20 years?

Lest we forget, crude is only one of a number commodities rallying these days. The most surprising thing I've seen in a long while comes via via via:

That's the supposedly cheap coal we're looking at! They've told us time and again that we've got an almost limitless supply of coal in this country and that if only we'd let them destroy our mountains and valleys, and suck it up when it comes to mercury, a happy future of "clean" coal would await us! With what seems to be wee bit of a supply problem on our hands, do you believe the coal industry when they say they're going to make all those investments to make coal clean?

Finally, some disturbing news about global warming:

In a development consistent with climate change theories, the enormous icy plain broke free sometime last week and began slowly drifting into the Arctic Ocean. The piece had been a part of the shelf for 3,000 years.

Remember last fall when the wingnuts gleefully declared that global warming is over because the arctic ice cap was all frozen over again, as though anyone ever claimed that global warming could ever overpower 6 months of darkness in the winter? If the following graph were to show the price trend of a stock, would you have gone long or short last winter?

Over at Eli Rabett's place they're taking bets on when the Northwest Passage will open up again this year...

It sure looks like some thin ice between the bottom left and the top left!