McCain Offers $300 Million Prize for New Auto Battery

This is actually a good idea. The solution to the energy crisis could very well mean innovation. Necessity is the mother of all invention, after all:

John McCain hopes to solve the country's energy crisis with cold hard cash.

The presumed Republican nominee is proposing a $300 million government prize to whoever can develop an automobile battery that far surpasses existing technology. The bounty would equate to $1 for every man, woman and child in the country, "a small price to pay for helping to break the back of our oil dependency," McCain said in remarks prepared for delivery Monday at Fresno State University in California.

McCain said such a device should deliver power at 30 percent of current costs and have "the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars."

The Arizona senator is also proposing stiffer fines for automakers who skirt existing fuel-efficiency standards, as well as incentives to increase use of domestic and foreign alcohol-based fuels such as ethanol.

Oil Prices Don't Fall Despite Saudi Pledge to Raise Output

The problem is beyond Saudi Arabia's control:

Oil prices fluctuated Monday as traders shrugged off a pledge by Saudi Arabia to increase its production and the dollar gained strength in Europe.

Saudi Arabia said Sunday it would produce more crude oil this year if the market needs it. The kingdom announced a 300,000 barrel per day production increase in May and said before the start of the meeting in Jeddah that it would add another 200,000 barrels per day in July, raising total daily output to 9.7 million barrels.

The announcement had already been factored into oil prices, analysts said.

"The meeting was mildly positive but it wouldn't really deliver anything that would give a heavy correction in oil," said Mark Pervan, a senior commodity strategist at the ANZ Bank in Melbourne, Australia. "They pledged production increases that the market thought was base case."

Light, sweet crude for August delivery traded down 73 cents to $134.63 a barrel on the New York Mercantile Exchange by afternoon in Europe, falling with the price of gold as the dollar gained strength.

Gold lost about 2 percent of its value and the euro, which fetched $1.5529 early, quickly slipped to $1.5474. The pound also fell, from $1.9652 to $1.9598

Instability in the world markets drive up oil prices. But the greatest factor has been the disastrous conflict in Iraq. And let's not forget the threats coming out of Venezuela that has markets wondering. A threat of a war between Israel and Iran also the oil traders wondering. That also drives up prices.

Saudi Arabia's pledge fell far short of U.S. hopes for a specific increase. The United States and other nations argue that oil production has not kept up with increasing demand, especially from China, India and the Middle East. But Saudi Arabia and other OPEC countries say there is no shortage of oil and instead blame financial speculation and the falling U.S. dollar.

Analysts said the meeting helped provide some clarity as to the size of spare OPEC capacity available. Saudi Arabia said it is willing to invest to boost its spare oil production capacity above the current 12.5 million barrels per day planned for the end of 2009 -- if the market requires it.

"I think where the market may be a little more comforted, which could see prices drift lower in the medium term, is more clarity and scope on OPEC capacity," Pervan said.

Total worldwide crude production is about 85 million barrels per day, but analysts say supplies remain tight amid disruptions to production from Nigeria, Africa's largest producer.

"The oil summit really has not done much to temper oil pricing," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "It was a modest output increase and hardly really compensates for the disruption out of Nigeria."

Citigroup Reportedly to Cut Thousands of Jobs

It is only the latest indication that there is something seriously wrong with the economy:

Citigroup is preparing fire thousands from its worldwide investment-banking division, The Wall Street Journal reported on Sunday.

The Journal, citing people familiar with the matter, said the layoffs are part of a plan to cut about 10 percent of the staff of the 65,000-member investment-banking group.

Messages left with Citigroup spokesmen on Sunday were not immediately returned. The Journal said the fired employees could be notified as early as Monday.

The New York-basked global bank, along with much of Wall Street, is in the throes of recovering from bad investments on mortgages and leveraged loans that cut billions of dollars from its portfolio.

It was not immediately clear if the reported job cuts would be in addition to cuts announced by Citigroup in April. After reporting a $5.1 billion first-quarter loss, the bank said then it was reducing its staff by 9,000, in addition to the 4,200 job cuts the bank announced late last year.

As of the end of last year, Citigroup had about 147,000 full-time employees.

In May, Citigroup unveiled a three-year plan that included getting rid of more businesses, mortgages, real-estate operations and jobs.

The bank called for shedding between $400 billion and $500 billion of its $2.2 trillion in assets and growing revenue by 9 percent over the next few years as it tries to rebound from the huge losses tied to deterioration in the credit markets.

And Citigroup isn't the only bank being hit by the current recession. And you notice how no one is arguing whether we are in one anymore:

Increasing struggles by consumers and businesses to make payments on a variety of loans, not just mortgages, are setting off a new wave of trouble in the financial sector that is battering even institutions that had steered clear of the subprime-home-loan debacle.

Late payments on home-equity loans are at a record high, according to fresh data from the Federal Deposit Insurance Corp. The delinquency rates on loans for cars, small businesses and construction are spiking to levels not seen in a decade or more.

Unlike last year, when soaring mortgage defaults sparked a crisis of confidence in the financial system, the root of these problems is the downturn in the broader economy. Simply put, consumers and businesses are strapped for cash with job losses growing and retail sales falling, economists said.

Meet The Press Transcript: Offshore Drilling is a "Gift" to Oil Companies

Senator Joe Biden exposed the scam which is offshore oil drilling. Read entire transcript:

SEN. BIDEN: We're not trying to get Saudi to drill more, we're trying to get them to pump more of what they're drilling. They're not pumping what they could, number one. This is a gift, a gift to the oil companies by John McCain. They have now leased 41 million acres of offshore leases. They're only pumping in 10.2 million of those acres. Seventy-nine percent of all the offshore oil available off the coast of Florida, into the Gulf of Mexico, the Atlantic Coast, the Pacific Coast, lies within those acres that they now have. Why are they not pumping? Why are they not doing this? Why are they not pursuing what's estimated to be a total of 70--54 billion barrels of oil at their disposal right now if they pump? Why are these greedy fellows deciding they want to go beyond that? It's because they want to get it in before George Bush leaves the presidency. It's because they're not pumping the oil to keep the price up. They are not even drilling. So here you have 30 million leased acres they have right now that possesses 79 percent of all the offshore, and they're not drilling. And John says they need more? And it would take 10 years for it to come online.

[...]MR. WILLIAMS: You mentioned energy independence, where does that conversation come in?

SEN. GRAHAM: Well, what you do is you have a supply-demand problem. The more domestic supply, the better we are off as a nation. But to get away from fossil fuels in general is a goal of Senator McCain. One thing you do on the power side is add nuclear power. We cannot address climate change without replacing oil and coal-fired plants with nuclear power. But when it comes to domestic supply, we're talking about 50 miles off the coast of South Carolina with the consent of the legislature where the state gets half the revenue. I think in an environmentally sound way we can extract deep sea exploration oil and gas off our coast that will allow us to be more energy independent. John is for that. I am for that. And I believe the state of South Carolina will be for that.

SEN. BIDEN: We already can do that. Let's get the facts. You're entitled to your own opinion, not your own facts. Forty million acres leased offshore, number one. Number two, the first well to be dug from the time they lease, if Lindsey gives them access to more area, it'll take 10 years from the time the lease is let to the time oil comes out of the bottom of the sea in the new leases.

Oil Prices Not Problem until Bush Invaded Iraq

The facts speak for themselves. Crude Oil prices (adjusted for inflation) started to jump in 2003 and have gone up dramatically ever since. If you believe 9-11 had something to do with it, think again. Oil prices declined in both 2001 and 2002. The nonsense that somehow world demand for oil is to blame is not born out by the facts. The price in 1998 was the lowest since the end of World War II. This could be explained by the lack of conflict in the Middle East. In previous periods of oil shocks (1974 and 1979) it involved political turmoil or a major war in the region.

U.S. Politicians Acquiesce to an Israeli Attack on Iran

Silence is acquiescence. It is why Israel will go after Iran. If you say nothing to discourage aggression from the Jewish state they will feel no need to hold back. But towing the line by the U.S. vis-a-vis Israel is more important than subsequent skyrocketing oil prices or World War III:

U.S. presidential candidate Barack Obama said that Israel is justified in providing for its security amid the "extraordinary threat" posed to it by Iran.

He spoke after The New York Times quoted unnamed U.S. officials as saying that Israel had carried out a large military exercise this month that appeared to be a rehearsal for a potential bombing attack on Iran's nuclear facilities.

U.S. politicians are remaining silent on any potential attack but not the UN:

A military strike on Iran would turn the Middle East "into a ball of fire," said Mohamed ElBaradei, the head of the United Nations' nuclear watchdog agency.

[...] "In my opinion, any military strike -- as I mentioned -- is the worst thing that can happen now," said ElBaradei, head of the International Atomic Energy Agency.

"It will make the Middle East turn into a ball of fire. It is a lot worse than having sanctions. A military strike will lead Iran, even if it plans today to manufacture a nuclear weapon, to establish a crash course to speed the process to have the weapon with the blessing of all Iranians, even those living in the West."

And it isn't just U.S. politicians that genuflect before Israel. Even the French now pander. Sarkozy is unpopular just like Bush. He could provoke a backlash within France from a relatively large Muslim population that has been politically vocal:

French President Nicolas Sarkozy flies to Israel on Sunday for a three-day visit aimed at reinforcing his image as an ally of the Jewish state and reversing a trend of difficult trips there by French leaders.

There is a potential problem for an Israeli military action. They lack the military resources to destroy Iran's nuclear program. This is why they hoped the U.S. would do it. Bush would like to but it would mean his impeachment. Is crazy enough:

Israel has spent years training for a possible bombing run against Iranian nuclear sites, but its air force may be too small to finish the job alone, officials and independent experts said yesterday.

Officials, who declined to be identified given the censorship around Israel's strategic capabilities, said the air force would be unlikely to deliver more than a one-time blow to the Iranian nuclear program, which international experts believe may require as many as 1,000 strikes to be destroyed.

Intelligence Officials: Dozens of Europeans Have Trained in Terror Camps in Pakistan

From ABC News:

Dozens of white Europeans have trained in terrorist camps in Pakistan's tribal regions in recent months, U.S. intelligence sources tell ABC News, in what officials fear may be the beginnings of a new breed of al-Qaeda-affiliated terrorism.

Government officials suspect the terrorists, recruited in Europe, have been dispatched to plan attacks against Europe and possibly the United States. The alleged terrorists hail from Britain, the Netherlands, Denmark, Germany, Romania and Estonia, sources said.

There is growing evidence that some European recruits may have already gone operational. Two of the suspects arrested in a September 2007 plot to kill American soldiers in Germany were native Germans, and U.S. officials say they are investigating whether they were trained in Pakistan.

Pakistan is the new Afghanistan:

Terrorist attacks against noncombatants more than doubled in Pakistan from 2006 to 2007, reflecting the growing violence in the country's turbulent tribal areas and new bombings against Pakistani government officials and security services, according to a report released Wednesday by the State Department.

The report also said the number of deaths from the attacks in Pakistan quadrupled in that time period, to 1,335 fatalities, casting doubt on the American-backed counterterrorism policies of President Pervez Musharraf that the new government in Islamabad is now reshaping.

The new statistics show that terrorist strikes against nonmilitary targets worldwide remained virtually unchanged in 2007 from 2006, at roughly 14,500 attacks, but the number of deaths from those attacks increased to 22,685 from 20,872, according to statistics compiled by the National Counterterrorism Center.

Press Roundup on Offshore Oil Drilling

Found on Cup of Joe Powell:

"The immediate, direct impact would, of course, be zero, since it takes years to bring new oil sources online. But what about the indirect impact that new drilling permits might have on perceptions of future supply? Might that help lower oil prices in the near term?

Maybe, but it's unlikely. Take ANWR first. A recent EIA study took a look at the impact that drilling in ANWR would have, and they concluded that it would probably reduce oil prices by 75 cents a barrel in 2025. A change that small two decades in the future almost certainly wouldn't have any effect on commodity traders today.

Huffington Post:

There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order signed by Bush's father in 1990. Bush's brother, Jeb, fiercely opposed offshore drilling when he was governor of Florida. What the president now proposes would rescind his father's decision _ but the president took the position that Congress had to act first and then he would follow behind.

McClatchy:

An estimated 3 million gallons of oil have spilled from oil and gas operations in 73 incidents between 1980 and 1999, according to Oynes' agency. Environmental groups say the spills illustrate the ecological dangers of offshore drilling, but Oynes said the last significant spill was the 1969 blowout.

Patterson says his office records about 500 minor spills a year in Texas from vessels or off-loading incidents but said he does not remember a spill related to offshore drilling.

IHT interviews Chevron CEO:

Oil prices have jumped from around $25 in 2002 to about $140 a barrel recently. Are we in a bubble?

I am a believer that most of this is related to fundamentals. Those are concerns about supplies. Last year, oil supplies did not grow in total. What the market is looking for is more visibility in future oil supplies. That is one of the main drivers for the difference of between the prices five years ago and the prices we're seeing now.

NY Times:

Gov. Arnold Schwarzenegger of California and some other Republicans opposed to drilling have also held their ground. Ray Sansom, who is in line to become speaker of the Florida House, representing the coastal town of Destin, said Wednesday that he still opposes drilling. And former Gov. Jeb Bush, in an e-mail message, said that while he supported Mr. Bush’s efforts to develop domestic energy sources, “this does not diminish the long-term need to conserve and develop alternative sources of energy.”

LA Times Editorial:

Californians have been leery of coastal drilling since a devastating spill from an oil platform off Santa Barbara in 1969. Drilling proponents counter that new technology has greatly decreased the risk of spills, but they nonetheless still happen. And there's more to worry about than spills. Texas is not known for its beaches, which attract the detritus -- such as tar balls and empty oil drums -- from thousands of oil platforms in the Gulf of Mexico. Drilling releases a host of toxic chemicals, creating such problems as dangerously high mercury levels in fish.

CNN quoting Obama:

"When I hear McCain say that he is now in favor of the same oil drilling off the coast that he was opposed to just a week ago, what he doesn't tell you is that George Bush's own energy department has said that this would have no impact on consumers until 2030," he said, "no appreciable impact for the next 22 years. Something they're not telling consumers."

Press Roundup: Democrats Cave-in to Bush on FISA Bill

Hanlon's Razor's take on the FISA bill:

Here’s something I learned by dealing with 5 year olds. When you tell someone that you’ll take them for ice cream if they clean their room, but point out that even if they don’t you’ll take them for ice cream anyway, guess what? Exactly. If Obama doesn’t threaten a complete and total rejection of the bill so long as telecom immunity remains, then it’s going to stay.

Alternet on the same bill:

House Democratic leadership agreed to support the measure -- seemingly out of fear of losing conservative Democrats to an even weaker proposal. But it is the worst of both worlds. It contains just enough of a pretense of accountability to allow the legislators to claim a victory for civil liberties, as it sells out core principles of accountability and privacy.

Daily KOS quotes Senator Tom Udall:

The FISA bill we considered today would compromise the constitutionally guaranteed rights that make America a beacon of hope around the world.

Today's vote was not easy. I stood up to leaders of my own party and voted against this bill, because I took an oath to defend Americans and our Constitution, and it was the right thing to do.

More from Alternet:

House Speaker Nancy Pelosi claims that a key positive feature of the new wiretap "compromise" is that the bill reaffirms that the President must follow the law, even though the same bill virtually assures that no one will be held accountable for George W. Bush's violation of the earlier spying law.

TPM quotes Barack Obama:

"Under this compromise legislation, an important tool in the fight against terrorism will continue, but the President's illegal program of warrantless surveillance will be over. It restores FISA and existing criminal wiretap statutes as the exclusive means to conduct surveillance -- making it clear that the President cannot circumvent the law and disregard the civil liberties of the American people. It also firmly re-establishes basic judicial oversight over all domestic surveillance in the future. It does, however, grant retroactive immunity, and I will work in the Senate to remove this provision so that we can seek full accountability for past offenses.

Slashdot:

"Today (June 20), Steny Hoyer is bringing to the House floor the latest FISA bill (PDF), which includes retroactive immunity for the telcos. The bill also is very weak on judicial review, allowing the telcos to use a letter from the president as a 'get out of liability free' card.

Infowars:

"The proposed FISA deal is not a compromise; it is a capitulation," Senator Russ Feingold said today. "The House and Senate should not be taking up this bill, which effectively guarantees immunity for telecom companies alleged to have participated in the President’s illegal program, and which fails to protect the privacy of law-abiding Americans at home. Allowing courts to review the question of immunity is meaningless when the same legislation essentially requires the court to grant immunity. And under this bill, the government can still sweep up and keep the international communications of innocent Americans in the U.S. with no connection to suspected terrorists, with very few safeguards to protect against abuse of this power. Instead of cutting bad deals on both FISA and funding for the war in Iraq, Democrats should be standing up to the flawed and dangerous policies of this administration."

McCain Hampered By Campaign Missteps

Its why McCain is going to lose...big:

Call it campaign growing pains. Or bad luck. Or a combination of the two.

By any name, Sen. John McCain is hampered by missteps and self-generated controversy in the early days of the general election campaign for the White House.

Take his most recent trip through several states and the Canadian capital, a five-day span during which he courted conservatives and independents alike, raised more than $10 million and began detailing his considerable differences with Sen. Barack Obama on energy policy.

Still, on Tuesday, he criticized his rival for proposing a windfall profits tax on the oil industry. The attack was complicated by McCain's earlier statement that he would consider the same thing.

The following day, he met with a group of Hispanics in Chicago. Aides who had kept word of the event secret were placed on the defensive within hours after one participant criticized some of McCain's comments.

On Thursday, the Arizona senator flew to Iowa, a likely battleground state in the fall, where he expressed sympathy with victims of severe flooding and pledged support for federal recovery aid. The event was overshadowed by President Bush's appearance elsewhere in the same state on the same day.

- Read more of this article from The Huffington Post

Ross Perot Wants more Focus on National Debt

The man who put the national debt on the political map in 1992 is back to preach the message again. We should be thankful to him again:

Ross Perot is jumping back into the political fray, this time with a stern warning that the country better start paying attention to the national debt.

The former presidential candidate has reemerged with a Web site spotlighting the soaring budget deficit: more than $9.3 trillion and growing.

"We live in the greatest country in the history of man. We've been so successful for so long that we now take our success for granted," Perot says in a video posted on PerotCharts.com.

"Not since the Great Depression have we seen an economic crisis of the magnitude that we are facing today," he says.

He says the purpose of the site, which is not affiliated with any political party, is "to provide accurate information to every citizen about the serious economic problems facing our country."

Israel is Preparing to Attack Iran

The question all along was whether it would be the U.S. that did the bombing or Israel. Apparently King George has decided not to carry out the attack, since it would most certainly lead to his impeachment. You think we're paying a lot for oil now? You just watch how high it goes after Iran retaliates by cutting off the oil supply in the Middle East. And if the U.S. retaliates it could lead to World War III:

Israel carried out a major military exercise earlier this month that American officials say appeared to be a rehearsal for a potential bombing attack on Iran’s nuclear facilities.

Several American officials said the Israeli exercise appeared to be an effort to develop the military’s capacity to carry out long-range strikes and to demonstrate the seriousness with which Israel views Iran’s nuclear program.

More than 100 Israeli F-16 and F-15 fighters participated in the maneuvers, which were carried out over the eastern Mediterranean and over Greece during the first week of June, American officials said.

The exercise also included Israeli helicopters that could be used to rescue downed pilots. The helicopters and refueling tankers flew more than 900 miles, which is about the same distance between Israel and Iran’s uranium enrichment plant at Natanz, American officials said.

Israeli officials declined to discuss the details of the exercise. A spokesman for the Israeli military would say only that the country’s air force “regularly trains for various missions in order to confront and meet the challenges posed by the threats facing Israel.”

But the scope of the Israeli exercise virtually guaranteed that it would be noticed by American and other foreign intelligence agencies. A senior Pentagon official who has been briefed on the exercise, and who spoke on condition of anonymity because of the political delicacy of the matter, said the exercise appeared to serve multiple purposes.

One Israeli goal, the Pentagon official said, was to practice flight tactics, aerial refueling and all other details of a possible strike against Iran’s nuclear installations and its long-range conventional missiles.

A second, the official said, was to send a clear message to the United States and other countries that Israel was prepared to act militarily if diplomatic efforts to stop Iran from producing bomb-grade uranium continued to falter.

This appeared in Reuters earlier this month:

An Israeli attack on Iranian nuclear sites looks "unavoidable" given the apparent failure of sanctions to deny Tehran technology with bomb-making potential, one of Prime Minister Ehud Olmert's deputies said on Friday.

"If Iran continues with its program for developing nuclear weapons, we will attack it. The sanctions are ineffective," Transport Minister Shaul Mofaz told the mass-circulation Yedioth Ahronoth newspaper.

"Attacking Iran, in order to stop its nuclear plans, will be unavoidable," said the former army chief who has also been defense minister.

Most say US on Wrong Track: AP-Ipsos Poll

And it will only get worse unless something dramatic isn't done:

Wherever the nation should be headed, this isn't it.

The number of Americans who believe the country is moving in the wrong direction has risen sharply, to nearly eight in ten, amid soaring food and gas prices, falling home values and unending war. Just 17 percent say the country is going in the right direction, according to an AP-Ipsos poll.

The right-direction number is the lowest ever recorded by the survey, which began in 2003. When other surveys are taken into account, the general level of pessimism is the worst in almost 30 years.

And it's getting worse. The 17 percent positive reading was down from 24 percent just since April.

Those who said the country was on the wrong track totaled 76 percent of the people contacted in the survey, which was taken from June 12-16. That's up from 71 percent in April and 66 percent near the end of 2007.

Solution to the Zimbabwe Atrocities: Video

Apparently the people of Zimbabwe are all alone while they suffer horrific brutality and oppression. There is no hope that the UN or any other organization will come to their rescue. Its the same old story. The world ignores genocide in Africa. Why? No press coverage. And why no press coverage? No video or pics. The solution? The people of Zimbabwe should be armed with video cameras and camcorders. Such tactics were used with success, although for a limited time, in Burma and Tibet. It is the best solution in a world that doesn't care unless they see it on TV. It didn't happen if it isn't reported. We live in the YouTube age. The best weapon of against oppression: video:

The mutilated bodies of four young men bore witness yesterday to the latest atrocities of the Mugabe regime in the run-up to next week’s elections.

The victims were murdered while defending the home of a local leader of the opposition Movement for Democratic Change (MDC), as the campaign of terror against the opposition reached a new pitch.

They represent the most deaths in a single day since Robert Mugabe lost the presidential elections ten weeks ago. Three of the men were MDC youth activists in the sprawling dormitory township of Chitungwiza about 20 miles (30km) south of Harare. The fourth was a passer-by, abducted because he did not know the secret slogans and salutes used by the ruling Zanu (PF) youth organisation to identify supporters. All four had their skulls smashed, and some had their lips and genitals cut off.

Karl Rove Accuses McCain with Talking "Economic Nonsense"

Once again McCain alienates a major Republican political figure. This time around its no less than Karl Rove:

Obama and McCain Spout Economic Nonsense

Barack Obama and John McCain are busy demonstrating that in close elections during tough economic times, candidates for president can be economically illiterate and irresponsibly populist.

In Raleigh, N.C., last week, Sen. Obama promised, "I'll make oil companies like Exxon pay a tax on their windfall profits, and we'll use the money to help families pay for their skyrocketing energy costs and other bills."

Set aside for a minute that Jimmy Carter passed a "windfall profits tax" to devastating effect, putting American oil companies at a competitive disadvantage to foreign competitors, virtually ending domestic energy exploration, and making the U.S. more dependent on foreign sources of oil and gas.

Instead ask this: Why should we stop with oil companies? They make about 8.3 cents in gross profit per dollar of sales. Why doesn't Mr. Obama slap a windfall profits tax on sectors of the economy that have fatter margins? Electronics make 14.5 cents per dollar and computer equipment makers take in 13.7 cents per dollar, according to the Census Bureau. Microsoft's margin is 27.5 cents per dollar of sales. Call out Mr. Obama's Windfall Profits Police!

It's not the profit margin, but the total number of dollars earned that is the problem, Mr. Obama might say. But if that were the case, why isn't he targeting other industries? Oil and gas companies made $86.5 billion in profits last year. At the same time, the financial services industry took in $498.5 billion in profits, the retail industry walked away with $137.5 billion, and information technology companies made off with $103.4 billion. What kind of special outrage does Mr. Obama have for these companies?

Sen. McCain doesn't support the windfall profits tax, but he can be as hostile to profits as Mr. Obama. "[W]e should look at any incentives that we are giving," Mr. McCain said in May, even as he talked up a gas tax "holiday" that would give drivers incentives to burn more gasoline.

This past Thursday, Mr. McCain came close to advocating a form of industrial policy, saying, "I'm very angry, frankly, at the oil companies not only because of the obscene profits they've made, but their failure to invest in alternate energy."

[...]Messrs. Obama and McCain both reveal a disturbing animus toward free markets and success. It is uncalled for and self-defeating for presidential candidates to demonize American companies. It is understandable that Mr. Obama, the most liberal member of the Senate, would endorse reckless policies that are the DNA of the party he leads. But Mr. McCain, a self-described Reagan Republican, should know better.

Ex-State Dept. official: Hundreds of detainees died in U.S. custody, at least 25 murdered.

Someone should be impeached for this. Guess who:

At today’s House Judiciary Subcommittee on Civil Rights hearing on torture, Lawrence Wilkerson, former chief of staff to Colin Powell, told Rep. Jerrold Nadler (D-NY) that over 100 detainees have died in U.S. custody, with up to 27 of these declared homicides:

NADLER: Your testimony said 100 detainees have died in detention; do you believe the 25 of those were in effect murdered?

WILKERSON: Mr. Chairman, I think the number’s actually higher than that now. Last time I checked it was 108.

Read the transcript and see video

FOX Top Story: "Blowing Stuff Up"

Fox is shameless when it comes to what they call news. This live coverage went on for several minutes. I did not witness anything being blown up.

Huckabee: Demonizing Obama is a ‘Fatal Mistake’

Republicans--are you listening. If you are basing your hopes on destroying Obama ask Hillary how much good that does:

Former GOP presidential contender Mike Huckabee called Barack Obama's candidacy "a landmark achievement" Tuesday, and warned fellow Republicans not to demonize Obama.

"Republicans will make a fundamental if not fatal mistake if they seek to win the election by demonizing Barack Obama," Huckabee told reporters in Tokyo, according to a report by Agence France-Presse.

Huckabee praised the country for getting "to a point where we did not see his color but we truly saw his charisma, his message and what he brought to the campaign trail."

"When people are really hurting — and they are right now — they're not looking at a person's race," he added.

Huckabee said he hopes John McCain beats Obama, but that Republicans should focus on policy differences, not race.

Amnesty: More than 1,000 Unaccounted for in Tibet

Does anyone care? The issue has died lately--just in time for a peaceful Olympics game. No boycott, no more protests:

More than 1,000 protesters detained during anti-government riots in Tibet three months ago have not been accounted for, a human rights group said Wednesday.

Amnesty International said a quarter of about 4,000 people detained by police during the riots in Tibet in March are unaccounted for. The others have been either released or placed under formal arrest.

The Olympic torch will pass through the Tibetan capital, Lhasa, on Saturday, and Amnesty's Asia-Pacific director, Sam Zarifi, said the event should draw attention to the missing and those in prison.

"There is very little information coming out of Tibet, but the information we have paints a dire picture of arbitrary detentions and abuse of detainees," he said. "With the torch relay about to enter Tibetan areas, this should be an opportunity to shine some light on the situation there."

It's all about those profits for big business:

The United States and China, concluding high-level economic talks, agreed to launch negotiations on an investment treaty that holds out the promise of greatly expanded opportunities for U.S. companies in China's vast market.

The two countries also pledged greater cooperation to deal with energy shortages and global pollution.

The agreements were announced Wednesday by Treasury Secretary Henry M. Paulson Jr., who said he believed the initiatives would produce "significant progress" on two priorities both nations share.

The announcements came as the two countries concluded two days of talks aimed at defusing simmering economic tensions. Paulson and Chinese Vice Premier Wang Qishan participated in a joint signing ceremony in the Treasury Department's ornate Cash Room to wrap up the fourth round of a series of talks known as the Strategic Economic Dialogue.

The announcement Wednesday represented a fleshing out of details of an agreement that was initially announced at the last round of talks in Beijing in December. Paulson said the framework would focus on five major areas -- electricity, air, water, transportation and conservation of forest and wetland ecosystems.

Cocaine Overdose Kills Baby, Father gets Life

Justice was done. Let this scum rot in jail. Hopefully this case will send a tough message:

A man whose teething infant son died after sucking on his father's cocaine-tainted fingers has been sentenced to life in prison.

Dennis Ray Driver, 26, was convicted Wednesday of felony murder for the overdose death of his 8-month-old son, Dennis Jr. The jury also fined Driver $10,000.

Driver said he fell asleep at his apartment on Dec. 28 with his son lying on his chest. When he awoke, the baby wasn't breathing. The infant died the next day at a hospital.

Driver had told investigators that he had chopped up cocaine and the baby later sucked on his fingers, prosecutor Murray Newman said.