As carriers from American Airlines to Thai Airway International are responding to a new era of high oil prices by shedding jobs, culling routes and grounding aircraft, Middle Eastern carriers are expanding as fast as they can in hopes of redefining their region as the aviation crossroads of the globe.

"There is no sign of a crisis there," said Thomas Enders, the chief executive of Airbus, during an interview shortly before handing over the jet to the sheik. "These airlines are on a very impressive growth path and expansion course; they are steering a steady course while others are experiencing more difficulties."

This IHT article focuses on the Gulf region, but I am more impressed by the growth rates for Europe in the attached graph...

In the long run, we're all dead. John Maynard Keynes

my diary of the day. Where's yours?

Ah, that reminds me....

keep to the Fen Causeway

But the oath or affirmation made by the President does NOT mention "safety" or "security."  Read it:

I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States.

  It is not to defend the nation and people, but to defend the Constitution, to preserve, protect and defend.  In that oath or affirmation, the Founders made clear their understanding that it was the Constitution which protects and defends the people, the nation.  The rationale that leads to justification of torture is the same rationale that we heard in Vietnam, that in order to save the village we had to destroy it.   This administration is arguing that in order to save the Constitution they have to violate it, and that argument is tantamount to justifying tyranny and dictatorship, it has no place in a liberal democracy constitutionally defined.

For such a technically complex industry, the oil and gas business spends remarkably little on research and development.

Royal Dutch Shell, which has the biggest commitment of any oil company, came a mere 104th in a global ranking of companies by R&D spending in 2006-07 compiled by Britain's Department for Business and Enterprise.

Even its 2007 expenditure of $1.2bn would have only just pushed it into the top 50.

Arguably, the figures are misleading. Developing an oilfield often means pushing back the frontiers of what is technically possible, just like R&D, but it is not defined as such under standard accounting rules.

The oil and gas industry has made great technical progress in the past two decades with innovations such as horizontal drilling.

For the big international companies, however, there is little competitive advantage in these innovations.

The technology is either widely held, or in the hands of service companies, which began to overtake the big integrated oil companies in the mid-1990s and are now far ahead in terms of numbers of new patents granted.

"International oil companies' R&D spending was quite high in the 1980s but was slashed at the insistence of the financial community," says Robin West, of PFC Energy, the consultancy. "Anything that didn't generate cash today was viewed very sceptically."

Home-Price Declines Accelerate

The S&P/Case-Shiller home-price index, a closely watched gauge of U.S. home prices, show price declines continued to worsen in May, with every region measured showing year-over-year drops for the second straight month.

According to the indices, home prices in 10 major metropolitan areas fell by a record 17% from a year earlier and 1% from April. In 20 major metropolitan areas, home prices dropped 16% from a year earlier -- another record drop -- and 0.9% from April.

(...)

Year-over-year, Las Vegas and Miami were again the weakest markets, each posting 28% declines. They were also the worst performers month-to-month, with Las Vegas down 2.9% and Miami dropping 3.6%.

David M. Blitzer, chairman of Standard & Poor's index committee, noted home prices have been dropping by the indices' measurements since August 2006. As prices swoon in the Sun Belt, where they had surged the most during the bubble, he noted the Northeast is "cyclical but less volatile" and the Midwest is facing "difficult local economies."

NEW YORK (Hollywood Reporter) - The ousted founders of downsized studio New Line Cinema are producing an adaptation of the Isaac Asimov sci-fi epic "Foundation."

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The project marks the first undertaking for Bob Shaye and Michael Lynne, who set up their own banner called Unique Features earlier this month after exiting New Line when the ailing studio was absorbed by its bigger corporate sibling Warner Bros.

One of the best series in science fiction (well, at least until Second Foundation) reaches the big screen. This could be monumental - or a monumental failure.

*Traitor*, n.
A benighted individual who perceives an illusory distinction between serving his nation and abetting the criminals who govern it.

Arthur C. Clarke's last vision

Arthur C. Clarke's health was failing fast, but he still had a story to tell. So he turned to fellow science fiction writer Frederik Pohl, and together the longtime friends wrote what turned out to be Clarke's last novel.

"The Last Theorem," which grew from 100 pages of notes scribbled by Clarke, is more than a futuristic tale about a mathematician who discovers a proof to a centuries-old mathematical puzzle.

"As much as anything, it'll be a historic artifact," says Robin Wayne Bailey, a former president of Science Fiction Writers of America and a writer. "This is a book between two of the last remaining giants in the field."

Just as Friday's growth figures suggested Britain is tipping into recession, across the Channel it suddenly looks as if the eurozone might beat us to it.

The data flow last week from the 15-member bloc was simply awful...

The eurozone economy is deteriorating much faster than anyone had thought. Last Thursday brought a torrent of bad news, starting with the purchasing managers' survey of the eurozone economy. This takes a monthly snapshot of the mood and activity levels among companies. The results of similar surveys in Britain had already turned down sharply but the eurozone is now catching up...

All these readings suggest the eurozone economy may have stalled in the second quarter, while inflation remains high - very similar to Britain, even though you might expect the UK to be in worse shape.

But the bottom line for Britain is that you would not want to bet on exports to the eurozone coming to the rescue any time soon. In fact,, it is difficult to see anything coming to the rescue of the British economy.

LAKE CITY, Ga. -- More than 1,800 people showed up to help ABC's "Extreme Makeover" team demolish a family's decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.

Three years later, the reality TV show's most ambitious project at the time has become the latest victim of the foreclosure crisis.

After the Harper family used the two-story home as collateral for a $450,000 loan, it's set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.

MOVE. THAT. BUS!!!!!!!!!!!!!

Where's your motherf*%&ing flag pin?

I know someone that lives out in Apple valley out that way, so I hope they're okay. However, I've already seen one friend report from downtown LA they were more amused than concerned.

Still, hope the LA ETers (two ? three ?) are okay. Let us know how you are.

keep to the Fen Causeway

But which are the best ? Not just camembert AOC, but unpasteurised, ladled and that extra special whatever.

After all, I'll be there in September and I need to know these things.

keep to the Fen Causeway