Homer II

John Licata: Playing the Energy Sector in 2009

I am missing something here; help me out: Why do we want to rush to spend up to $1T for technology deployment to inject CO2 into the earth to keep the planet from getting too hot for future generations? While, AT THE SAME TIME, the Chinese, Indians, and other emerging countries are busy moving to BUILD NEW ENERGY PLANTS to supply their hungry populaces. What guarantees do we have that they are providing equal investment for sequestration OF THEIR NEW EMISSIONS? Surely this expense on our part isn't being undertaken by Obama after just a jovial leadership handshake like the Chavez one? We can't expect that our interests in protecting the global environment meshes with these other nations who have a totally different agenda.

Wall Street Breakfast: Must-Know News

I'll bet the UAW pension plan ends up on PBGC's plate sooner or later. They won't be made whole either. A recent testimonial by a retired steelworker stated that after his pension plan slid into PBGC, he receives only 28% of the original retirement benefit check. That foretells that those UAW folks will not be drawing their $114K per annum very much longer either.