Inflation, Investing and Everything
Economists and businessmen in Singapore are not all that worried about oil prices for now - but they could be if prices continue to hang around US$60 and threaten to eat into corporate profits.
Crude oil prices hit an all-time high of more than US$60 a barrel early last week, raising fears that they might hit US$70 soon. Although prices have eased somewhat, that might just be a temporary relief and prices could go up again if supply does not keep up with demand ...
- so, when do the words "Peak Oil" start hitting the front page, hmm? At $86? $105? $182? We'll see.
"We could be at US$100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had."
The reality is simply this: the days of cheap oil may be over. If the subsidies are to be removed for the power sector, it will have to be removed across the board as well. That should include fuel prices and it will be unpopular. But it can be staggered over time as weaning the public off cheap fuel won't be easy.
Unfortunately, it will have to be done as it removes surprises, eradicates economic distortions and makes the broader economy more efficient. In the final analysts, spoon feeding, over a period of time, teaches us nothing but the shape of the spoon ...
- will someone please stand up and yell, "there is no spoon!" :)
- but seriously, "the reality is simply this: the days of cheap oil may be over", coming from The Business Times, is something. CXO's (CEO's, CFO's, etc.) read this stuff. Will that turn on a light bulb somewhere, perhaps? Hopefully, their first reaction would be a bit more useful than "buy XOM!!", lol.
I've rolled back Roller to 1.0 on my server. Looking at the work-week ahead, I'd suppose I don't have the time to fiddle with the connection pool problems with 1.2. In addition, there have been concurrent modification exceptions being thrown, which looks kind of worrying.
The Roller app running on Post1.Net has been updated from 1.0 to 1.2.
First thing I noticed is the new URL system. Nope, I don't quite like it. It breaks my navigation. If I wish to do backward or forward pagination, the original URL system works as expected. Also, pagination by category is broken under the new system. Fixing this is a small matter of reverting org.roller.pojos.WeblogEntryData.getPermaLink() to the previous revision.
Next, I'm getting some connection pool errors. The pool seems to run out every now and then. The hosting provider here limits my total MySQL connections to 5, and I need at least 1 for the jGallery webapp, so that leaves Roller with 4.
I'll try this out for a week or so. Hope this works out. If not, and/or if I don't have the time to mess around with it, there's always the backup of 1.0 to fall back on.
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