Issue link: https://www.epageflip.net/i/12559
Saturday, June 26, 2010 – Daily News – 3A To add an upcoming event in the Local Calendar, submit Local Calendar information well in advance to the Daily News, attention Calendar, P.O. Box 220, Red Bluff, 96080 or e-mail to clerk@redbluffdailynews.com. Include a contact name and telephone number. SATURDAY, JUNE 26 Red Bluff 2nd Annual Ronnie Lee King Memorial Run, 930 a.m., Tehama District Fairground, Poker Run, lunch at 12:30 p.m., 384-1407 or tndowen@sbcglobal.net, $20 Back to School Project Pancake Breakfast, 8-11 a.m., Bethel Family Center, 625 Luther Road, tickets $5, 529-4074 or 526-6977 Farmer’s Market, 8 a.m. to noon, Red Bluff River Park, 527-6220 Field to Fork Pancake Breakfast, 8 a.m. to 11 a.m., Red Bluff River Park, 529-3856 or 529-1687 Red Bluff-Tehama County Branch of AAUW, 10:30 a.m., scholarship presentation, at the home of Claire Morgan, 22315 Adobe Road, 527-0466 Corning 3rd Annual Girls Club: Women’s Golf for a Cause Clinic, Sevillano Links, 9 a.m. to 2 p.m., $45, register at ticketforce.com, 528-3500 3rd Annual Music 4 Mutts, noon to 4 p.m., North- side Park, 824-7054 Manton Music in the Vineyard, 5-9 p.m., Ringtail Vineyards 32055 Forward Road, $10, 474-5350 SUNDAY, JUNE 27 Red Bluff Knights of Columbus All-You-Can-Eat Break- fast, 7:30 a.m. to noon, $4 or $10 per family, Sacred Heart Parish Hall, 2285 Monroe St., 527-6310 WHEEPicnic and Prayer Circle, 4:20 p.m., 22116 Riverside Avenue Corning Evangelist services, 7 p.m., Family Bible Church, 609 Marin St., 824-9989 MONDAY, JUNE 28 Red Bluff Al-Anon, 6 p.m., Presbyterian Church, Jefferson and Hickory (additional meetings noon and 6 p.m. Wednesdays, 6 p.m.Fridays) Head Injury Recreational Entity, 10 a.m., St.Eliz- abeth Community Hospital, Coyne Center, Rusty, 529- 2059 Key to Life, 6 p.m., Family Resource Center, 220 Sycamore St. Suite 101, 528-8066 Red Bluff Community Band Concerts in the Park, 8-9 p.m., Red Bluff River Park, 527-3486 Salvation Army Writing Class, 9:30 to 11 a.m., 940 Walnut St., 527-8530 Sun Country Quilters Guild Sew-in, 3:30-8:30 p.m., Red Bluff Community and Senior Center, 1500 South Jackson St., $5, suncountryquilters.com Corning Healthcare District, 6 p.m., district office building, 145 Solano St., conference room Narcotics Anonymous, and 7 p.m., 815 First St., 385-1169 or 566-5270. Meetings daily through Satur- day, additional meeting noon Mondays Sewing group, 9 a.m., Family Resource Center, West and South streets, 824-7670 Spanish Adult Education, 5 p.m., Family Resource Center, West and South streets, 824-7670 Strategies for Success, Life Skill classes, 1:30 p.m., Family Resource Center, West and South streets, 824-7670 Gerber Gerber Elementary School Board, 6 p.m., Gerber School, 23014 Chard Ave. TUESDAY, JUNE 29 Red Bluff PAL Kickboxing, 4 p.m., 1450 Schwab St., 529- 8716 or 200-3950 Playtime Pals Playgroup, 9:30 a.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528- 8066 Red Bluff Rotary, noon, Elks Lodge Tehama County Board of Supervisors, 10 a.m., board chamber, 727 Oak St. Corning Spanish Adult Education, 1:30 p.m., Family Resource Center, West and South streets, 824-7670 WEDNESDAY, JUNE 30 Red Bluff Al-Anon, noon to 1 p.m., Presbyterian Church, Jef- ferson and Hickory Elks duplicate bridge, noon, Elks Lodge, 355 Gilmore Road, 528-9418 Ishi Archers 16 target 3-D Summer League, 5 p.m., 527-4200 Red Bluff Kiwanis, noon, Palomino Room Senior Dance, 7 p.m., Westside Grange, Walnut Street Widowed persons breakfast, 8 a.m., Tremont Cafe & Creamery, 731 Main St., men and women wel- come, 384-2471 Mon.-Fri. 10:30 to 5:30 Sat. 11-3 40 Crafters in 1 Shop! Or Rent a Space to Sell Your Crafts Gifts for family & friends Plenty of parking on Pine Street 650 Main St., Red Bluff 530 528-2723 Come & Shop Crafter’s Boutique 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore Leak responses ignore consequences I'm as outraged as you are about the oil disaster in the Gulf. The videos of oil-slicked birds and fam- ilies facing bankruptcy are devastating. We're all feeling the frus- tration that comes from our seem- ing impotence to either cap the well or trap the moving oil slick. In spite of all those emotions, I rec- ognize some astounding ironies in all the com- ments, exhortations and threats being made by politicians, the media and the administration. It's as if frustration has led to total abandonment of rea- son. Many of the pro- posed actions have conse- quences nearly as fright- ening as the problem itself. Take, for example, the decision to create a six- month deep-water drilling and exploration moratori- um, subsequently extend- ed to include almost all offshore drilling activity in the Gulf area. It was an emotional response that created huge economic issues. Offshore drilling is responsible for more than 200,000 jobs in the affected area -- and the last thing the coastal economy needs is more job losses. And the mora- torium was based on sen- sation, not statistics. The offshore gulf area has been under exploration since the late 1940s, and more than 42,000 wells have been drilled there. Surely, that reaction was excessive. There's an even larger case to be made for con- tinued drilling -- safely -- in the Gulf. We need that oil. Or we need a substi- tute source of energy to keep our nation running. As I pointed out in a recent column explaining Boone Pickens' energy independence campaign, we are becoming more and more reliant on imported oil. In 1970, just before the first OPEC oil embargo, the United States import- Police reports The following informa- tion is compiled from Red Bluff Police Department, Tehama County Sheriff’s Department, Corning Police Department and Cal- ifornia Highway Patrol. Arrests • Douglas Wayne Husted, 36, Red Bluff, was arrested Thursday night on Monroe Street by the TCSD on suspicion of for- feiting bail and failing to appear in court. Bail was set at $55,000. • Chad Leroy McCoy, 38, Corning, was arrested Thursday morning at the CPD on suspicion of grand theft, receiving known stolen property and enter- ing land with the intent of damaging property or inter- fering with property rights. Bail was set at $22,500. • Catherine Elizabeth Blankenship, 24, Corning, was arrested Thursday at the corner of Houghton and Lolita avenues by the CPD on suspicion of receiving known stolen property. Bail was set at $10,000. Violence A man was reportedly assaulted by a knife-wield- ing 17-year-old Thursday afternoon at Red Bluff Union High School, though he suffered only minor ed 24 percent of our oil. Today, the United States imports 65 percent of our oil. Every day, 85 million barrels of oil are pro- duced around the world. And 21 million of that is used in the United States. That's 25 per- cent of the world's oil demand -- used by just 4 percent of the world's population. Remember, most of our imported oil comes from countries that are not our "friends." When you look at the facts, it's hard to make a case that suspending drilling for new offshore supplies is a sensible response to the BP spill. There's another irra- tional response coming out of Washington these days -- the desire to not only punish BP, but to actually destroy it, or take it over! It's another case of appealing to emotions, not reason. The illogic of that strategy is immediately apparent: We need BP to survive, even thrive, for the company to be able to pay all the claims against it. It's one thing to sug- gest that BP -- an inde- pendent, global, foreign company -- use its cash to pay reparations instead of dividends to British pen- sioners. But it's quite another to start talking about taking over the company using bankrupt- cy laws. But perhaps embold- ened by its takeover of General Motors (which thrashed the rights of creditors and fran- chisees), the administra- tion seems determined to force BP out of business -- thereby leaving U.S. taxpayers to foot the cleanup bill. There's another huge risk in this strategy. The stock of BP is down about 50 percent from pre- explosion days, from a high of $62 to the low 30s. A large part of that loss has come from sellers injuries. The attacker was reportedly 6-feet, 1-inch tall, 150 pounds, with curly hair, a black hat, black shorts, a gray, oversize shirt and was last seen riding a black BMX bike with black rims. He was last seen near the corner of Fourth and Douglas streets. Threats A woman reported Thursday evening that her daughter’s boyfriend threat- ened her daughter Thurs- day evening on Taft Street. Theft • Lawn tools were reported stolen from a shed Thursday morning on Jef- ferson Street. • A black-and-white Raleigh Cruiser was report- ed stolen Thursday after- noon on Grant Street. The loss is $280. • A man reported camp- ing equipment stolen Thursday evening from an orchard on Tehama Vina Road, but claimed his parole officer knows where the equipment is. who aren't sticking around for the dividend to be cut or elimi- nated. Long before the administration can get its hands around the company to squeeze the remaining value, BP is likely to become a takeover target at these low share prices. You might ask what com- pany has enough cash, and enough desire for BP's global oil assets, to take Terry Savage The Savage on the risks of all those future claims. Well, how about PetroChina -- a company with a market cap more than twice that of BP at current prices? It is the publicly traded unit of the state-owned China National Petroleum Corp. Not only does it have $6 billion in cash on its bal- ance sheet, it also has access to the nearly $1 trillion in U.S. dollars now held by the central bank of China (mostly in the form of U.S. Treasury bills and other govern- ment securities, currently yielding less than 0.25 percent). If you were PetroChina and saw a tempting half- price sale on BP's $236 billion in assets, wouldn't you be asking your parent company, the Central Bank of China, to ante up some cash? And wouldn't it be a better deal for China to buy proven reserves and refineries at a discount than to hold on to U.S. IOUs while the Fed prints more money and promis- es to keep rates low? Just asking. If BP is taken over by a Chinese state-run compa- ny, our president will find out just how little lever- age he has in getting those damage claims paid. He Trespass Someone reported hear- ing a loud sound and find- ing someone had opened his or her window early Fri- day morning on Armstrong Court. Graffiti Graffiti was reported Thursday morning on a dumpster on Antelope Boulevard. Odd • A noose was reported- ly found Thursday morning at Home Depot. • A woman called the Sheriff to report a man had not been giving his son proper medication Thurs- day afternoon on Kawil Lane. The man, in turn, called 911 to complain the woman had been harassing him. The woman then admitted to making up her story. BOOK BARN Used Books Tues-Fri 10-5 Sat 10-2 Serving Tehama County since 1994 619 Oak St., Red Bluff (530) 528-2665 Limited time offer expires July 31, 2010. Other conditions and restric- tions may apply. See store for full details. Offer valid only at NorCal AT&T Authorized Retailer stores. Rebate debit card offer. Price before mail-in rebate is $149.99. Must purchase BlackBerry Unlimited Plan and sign new 2 year service agreement ot qualify for discounted pricing and rebate. Retail price Blackberry Pearl 8110 is $399.99. Truth on Money won't be able to bully the Chinese owners around at the same time he is depending on China to finance our growing bud- get deficits and national debt! So now the trap tightens. America is depen- dent on imported oil because we have never had a sensible energy policy. America is dependent on imported capital because we con- tinue to spend our way into debt. Now we have to start thinking about what hap- pens when the country that has most of the money also has most of the oil. And that's The Savage Truth. Terry Savage is a registered investment adviser and is on the board of the Chicago Mercantile Exchange. She can be reached at www.terrysavage.com. She is the author of the new book, "The New Savage Number: How Much Money Do You Really Need to Retire?" 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore