Black Gold

Assuming that Mr. Obama is the nominee, he’ll lead a party that, judging by the usual indicators, should be poised for an easy victory — perhaps even a landslide.

Yet Democrats are worried. Are those worries justified?

-- Paul Krugman, thinking about November, in the New York Times

"Obama is the internationalist opposed to free trade. He is the friend of race-baiters who thinks Don Imus deserved to be fired. He is the proponent of courage in the face of powerful interests who lacked the courage to break with Wright,...He is the man who would lead our efforts against terrorism yet was friendly with Bill Ayers, the unrepentant 1960s terrorist. He is the post-racialist supporter of affirmative action. He is the enemy of Big Oil who takes money from executives at Exxon-Mobil, Shell and British Petroleum.

Obama has, in a sense, represented a new version of the invisible man, a candidate whose colour obscures his failings.

But so far, the wild discrepancy between Obama's words and his deeds, and between his enormous ambitions and his minimal accomplishments, doesn't seem to have fazed his core supporters, who apparently suffer from a severe case of cognitive dissonance. Like cultists who rededicate themselves when the cult's prophecies have been falsified, his fans redouble their delusions in the face of his obvious hypocrisy."

-- Fred Siegel, writing about Barack Obama as an "illusion", in The Australian

"In as much as the American left is now a coalition of groups that define themselves as the victims of social and economic forces, and in as much as its leaders encourage people to feel helpless and aggrieved,...they make America a glummer place."

-- From The Economist

Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10,...