Things I'm Reading Today

• Buffett offered to bet any taker $1 million that over 10 years and after fees, the performance of an S&P index fund would beat 10 hedge funds that any opponent might choose.
• Natural gas is a major feedstock in ammonia production--the hydrogen (H) in ammonia (NH3) comes from natural gas. It is not easy to combine N (N2 gas from the atmosphere) and H to make ammonia, so considerable energy (mostly natural gas) also is consumed. The average natural gas consumption for anhydrous ammonia production is approximately 33.5 million British thermal units (MMBtu) per ton. Therefore, the ammonia production cost is closely tied to the price of natural gas.
• Unemployment rate and recession chart.
• GM Volt may be too expensive and not ready in time.