The Left Coast of Iowa

Current world demand for oil is about 84 million barrels per day, and current world production capacity is about....84 million barrels per day. As Amy Myers Jaffe points out, OPEC's spare capacity — and thus the world's — has dropped nearly to zero in the past few years. Everyone is pumping full out.

This is why prices are increasing now even though there's been no oil shock. It's not because of a sudden disruption, it's because demand is now bumping up against supply. What's more, this is a permanent condition: new capacity takes years to develop, so even in the best case supply will only barely keep up with future growth in demand. There's not much margin for error.

Rolling Stone reporter Matt Taibbi spent a month with Vermont's Independant senator Bernie Sanders, tracking the progress of some huge bills thru Congress. It ain't a pretty picture:

Symptoms of a sociopath: "Glibness/Superficial Charm, Manipulative and Conning, Grandiose Sense of Self, Pathological Lying, Lack of Remorse, Shame or Guilt, Shallow Emotions, Incapacity for Love, Need for Stimulation, Callousness/Lack of Empathy, Poor Behavioral Control/Impulsive Nature, Early Behavioral Problems/Juvenile Delinquency, Irresponsibility/Unreliability, Promiscuous Sexual Behavior/Infidelity, Lack of Realistic Life Plan/Parasitic Lifestyle, Criminal or Entrepreneurial Versatility." It is "important to be able to recognize the personality type in order to avoid further abuse." Does this describe someone we all know??? The outstanding traits, glibness, superficial charm, manipulative, conning, grandiose sense of self, pathological lying, lack of remorse, shame or guilt, shallow emotions, callousness, lack of empathy, poor behavioral control, impulsive nature, early behavioral problems, irresponsibility, unreliability, parasitic lifestyle, criminal or entrepreneurial versatility, truly fit like a glove!