The Daily Parker

Politics, Weather, Photography, and the Dog

Morning round-up

After a Strategy exam, Finance exam, Strategy team paper, project estimate for work, and...well, that's really all I did the last four days, come to think of it...I'm more or less back.

Herewith a quorum of things I noticed but didn't have time to note:

  • The Washington Post reported yesterday that MC 900 Ft. Jesus—sorry, I meant an actual 30 m statue of Jesus—got struck by lightning Monday night and burned to the ground. Signpost to Armageddon? Probably not, but it has an element of Apocalyptic whimsy to it, don't you think?.
  • Via Sullivan, the Vision of Humanity project's Global Peace Index puts New Zealand at the top and Iraq at the bottom. We're 85th (of 149); Britain is 31st; and Finalnd and Russia, countries I'm visiting in two weeks, are 9th and 146th, respectively. Check out the interactive map.
  • The Economist's Gulliver blog linked to a Sunday Times (reg.req.) article about the beauty of window seats. I always get the window, if possible; so does Gulliver, apparently, and the Times author who wrote: "My favourite window-seat ride is crossing America — with the asphalt labyrinth of the crammed east coast giving way first to ceaseless Appalachian forest, then to the eerie geometric perfection of the farm-belt fields, then to the intimidating, jaw-dropping emptiness of the west, before the smog starts lapping at your window as California sprawls into view." Yep.
  • Today has tremendous significance to my small and fuzzy family which I will relate later.

Back to the mines.

Costs more to scrap than to build

Exelon Corp. is preparing to dismantle the Zion Nuclear Power Plant just north of Chicago:

Although the timetable hasn't been set, more than about 500,000 cubic feet of material will be moved, everything from concrete walls, pipes, wiring, machinery, even desks and chairs. Much of it is contaminated with low-level radiation. Enough to fill roughly 80 rail cars, it will be transported to EnergySolutions' site 80 miles west of Salt Lake City.

It's easier and cheaper than separating the contaminated material from the uncontaminated, officials said.

Estimated cost: $1 billion. ComEd customers began paying into that fund in the late 1970s, a fee not removed from their bills until 2006.

Starting up the plant again would cost about that much, Exelon said. The plant has been shut down since 1998.

Human error, not equipment failure

Terry Barr, president of Colorado-based Samson Oil and Gas, wrote in to the Wall Street Journal today explaining point by point how BP personnel, not BP equipment, caused the worst environmental disaster in U.S. history:

Mr. Hayward and BP have taken the position that this tragedy is all about a fail-safe blow-out preventer (BOP) failing, but in reality the BOP is really the backup system, and yes we expect that it will work. However, all of the industry practice and construction systems are aimed at ensuring that one never has to use that device. Thus the industry has for decades relied on a dense mud system to keep the hydrocarbons in the reservoir and everything that is done to maintain wellbore integrity is tested, and where a wellbore integrity test fails, remedial action is taken.

This well failed its casing integrity test and nothing was done. The data collected during a critical operation to monitor hydrocarbon inflow was ignored and nothing was done. This spill is about human failure and it is time BP put its hand up and admitted that.

Doubling down on disaster

It turns out, BP's estimates of the oil billowing into the gulf may have been off by a factor of two, or greater:

The new calculation suggested that an amount of oil equivalent to the Exxon Valdez disaster could have been flowing into the Gulf of Mexico every 8 to 10 days.

This assessment, based on measurements taken before BP cut the riser pipe of the leaking well on June 3 to cap some of the flow, showed that approximately 25,000 to 30,000 barrels of oil could have been gushing into the Gulf each day. That is far above the previous estimate of 12,000 to 19,000 barrels a day.

And this:

"It is technically not [Obama's] job as president to console families of men who died off shore," said Keith Jones, a Baton Rouge lawyer whose 28-year-old son, Gordon, a mud engineer, died in the explosion. “But he made it his business and we’re grateful for it."

"I don't know what people expected the president to do exactly, if they want him to go out there and wash pelicans," Jones said. "He's the president. He's not someone who cleans beaches. It's important for us Louisianans to know that we have his support and I think he's communicated that."

We won't know for months how bad this is, but you remember all those "worst-case" scenarios? Those might have been underestimates, too.

Quake simulation

Via Bruce Schneier, an interesting experiment at Wharton School of Business showed students have a bias towards short-term gain—even in the face of certain disaster:

It’s not like the students don’t know what’s coming, either. When asked if they understand what’s going on, they always say, yeah, they get it: they’re about to get hit by an earthquake. So if it’s not stupidity or ignorance, why do the students keep losing? Kunreuther and Meyer believe the game demonstrates a psychological bias toward short-term maximization instead of long-term planning—a psychological bias all humans share.

Meyer has tried out the Quake simulation with groups of corporate executives, and the results are the same. The players always see the quake coming, and they always “have a difficult time translating that belief that it’s going to happen to a short-term action”—much the same way, in fact, that the government of Haiti failed to adequately prepare for the possibility of a major earthquake.

Though I wonder: since the experiment targeted business students and corporate executives, might there be some bias? I'd like to see the experiment repeated with a larger, more random sample.

Anyway, the results might explain how, for the next few days, I'm locking myself in my apartment to finish two exams and a research paper, all of which are due Monday.

Politics reported by political scientists

From Slate, The Only Political Article You'll Ever Have To Read:

Obama now faces some of the most difficult challenges of his young presidency: the ongoing oil spill, the Gaza flotilla disaster, and revelations about possibly inappropriate conversations between the White House and candidates for federal office. But while these narratives may affect fleeting public perceptions, Americans will ultimately judge Obama on the crude economic fundamentals of jobs numbers and GDP.

Chief among the criticisms of Obama was his response to the spill. Pundits argued that he needed to show more emotion. Their analysis, however, should be viewed in light of the economic pressures on the journalism industry combined with a 24-hour news environment and a lack of new information about the spill itself.

The whole article is spot-on.