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Archive for October, 2016

trump

New Donald Trump LE Six-Shooter boasts a groundbreaking windage adjustment technology.

In further support of GOP nominee Donald Trump’s candidacy for the presidency, and in particular his positions on the Second Amendment, the National Rifle Association has commissioned a new Limited Edition Trump Six-Shooter. In addition to regular iron sights, the accuracy of the handgun is enhanced by long orange fibers attached to the barrel that, when unfurled, indicate both wind speed and direction, as pictured above. The fibers can be combed over and tucked behind the ejection rod on the cylinder when not in use.

Though revolutionary in concept, the design follows in the traditional footsteps of the finest Colts and Remingtons that removed so many Bad Hombres from the Old West. But by far the most unique feature of the new LE Trump Six-Shooter is that, no matter where you point it, you wind up shooting yourself in the foot. It’s expected to be available on November 9.

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Coal mine, early 20th century

Coal mine, early 20th century.

There are mines and there are trenches, but they’re not the same. The so-called war on coal is a great story, but it’s a complete fiction. If there’s a war on steam coal, then there has to be a war on nuclear generation as well because they’re both in the same wholesale electricity market. You don’t have to look far to see Exelon and other nuke operators begging their state legislatures for additional subsidies for their plants. When wholesale electricity market prices are favorable, then coal mines and coal-fired plants (and nukes) extol the survival of the fittest in the Free Market, where only the most efficient competitors survive. But when that market turns on them, all of a sudden “the market is flawed,” and customers are no longer just customers; they’re “stakeholders.”

Be very afraid when anyone in the energy business starts calling you a “stakeholder.” It’s code for “we need you to pay us more money, but our reasons are really bad, so we have to fool you into believing that we’re all in this together.”

Coal mines are not being shuttered by the EPA or Hillary Clinton. The straight-up fact is that shale play natural gas has brought power prices down to levels not seen in years. Allied to this is the continued weak demand in what the feds tell us is our country’s longest (and slowest) economic recovery. The consequence is that low market electricity prices have persisted for an extremely long time.

The mines are being closed, and coal companies are declaring bankruptcy, not because politicians are waging some sort of trench warfare, but simply because of the price of coal, which varies directly with the price of natural gas.

Without doubt, new environmental rules have played a part in reducing coal-fired generation. But if you kick in the door on a house that’s in the process of falling down, don’t expect to be paid for the demolition job. A small decrease in the price of natural gas has a disproportionately large impact on demand for steam coal, and thus on the question of whether to shut a coal-fired station.

There’s no war on coal, and Don Blankenship, contrary to his claim, is not a political prisoner.

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