Friday, June 06, 2008

ABC Nightline: Stories on finding more oil in Texas, and on an Internet "nanny"

ABC "Nightline" tonight (June 6) had two very interesting stories.

The first was about a wildcat oil man in the quasi-hill country near Abilene, TX, 140 miles W of Fort Worth. He had been a tennis teacher and became a geologist and almost went to law school in the 1980s when oil prices dropped.

Six out of ten wells in Texas wind up as dry holes. A typical well costs $500000, but a hit may bring in $14 million at today’s prices. The oil man said that at the $120 price a considerable amount of oil remains to be developed in Texas, despite the stories about tapping out.

Then Nightline presented a report about a British Internet nanny. She characterized children on the Internet at night without parents as a bit like letting children use the swimming pool without a lifeguard. She thinks that computer use does help develop the cerebral cortex in certain ways. One of the greatest problems is that children will not understand easily why they should not give out personal information on the Internet, unless they learn to compare the issue to meeting strangers in public; on the computer, potential “strangers” simply are invisible. She mentioned that Internet social networking is only about three years old, and many adults and parents just haven’t had time to understand what it means.

The “Trail Mix” segment discussed how quickly the week progressed for Hillary Clinton, leading to her formal pullout announcement Saturday.

Picture: northwest of Abilene TX (June 2005, personal trip)

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