Rethinking Frankenstein — again

I’ve read Mary Shelley’s Frankenstein several times, and on my bookshelf I have a copy lavishly illustrated by comic book artist Bernie Wrightson. The story has been told and retold and re-imagined. Indeed Mel Brooks’ Young Frankenstein is one of my favorite films.

But the Hollywood versions of the book tend to focus on “the monster” — bolts in the neck, bad haircut, arms extended, clumping along as if sleepwalking.

The book, however, is more complex and nuanced. It can be read many different ways. It is, on its surface, a great monster tale. It’s a book that is often credited with launching science fiction as a genre. Its subtitle, “The Modern Prometheus,” implies a morality tale in which Frankenstein’s creation is an affront to God, or that Frankenstein himself has defied God by creating life through unnatural means.

Now, as Ruth Franklin writes in The New Yorker, a new novel by Dutch writer Anne Eekhout, Mary and the Birth of Frankenstein, poses the idea that the novel may have resulted from Shelley’s relationship with another woman. Indeed, in the original book, female characters are minor. But Victor himself could have been a proxy for Shelley, and his loathing and fear of “the fiend” his struggle to come to terms with homosexuality and the social stigma associated with it at time.

While Hollywood has made Frankenstein’s name synonymous with the monster, in the book, Victor Frankenstein refers to his creation in vaguer terms — “the being,” “the fiend.” The ambitiousness of the horror has allowed numerous interpretations over the years. The origin of the story is well-known. Shelley began writing it at age 18, after the death of her first child, and her grief is thought to have inspired the original idea of bringing the dead back to life.

As Franklin writes:

The novel can be read as a fantasy of reproduction without women, giving rise to queer-oriented interpretations. Critics have noticed that the horror and revulsion with which Victor reacts to his creation, which is male, resemble the “homosexual panic” sometimes manifested by men confronted with homosexuality in nineteenth-century England, where sexual relations between men had been criminalized for at least five hundred years. The creature initially appears at Victor’s bedside as he awakens from a nightmare about kissing Elizabeth, his cousin and intended bride, who turns into a corpse in his arms. Victor, whose closest relationship is with his boyhood friend Henry Clerval, refers to his creation as a “dreadful secret” that he can reveal to Elizabeth only after their wedding night.

In the introduction to the Wrighson illustrated edition, Stephen King says he believes most modern readers find Frankenstein disappointing. There’s been too many movies and attempts to play up the horror. What’s lost is the subtler aspects of the book. King calls it “a wild tale” with “joyous, energetic, representations of life.”

Indeed, those representations are open to a wide range of interpretations, and that’s what makes Frankenstein so captivating. I haven’t read Eekhout’s book, but just hearing about it makes me want to re-read Shelley’s original.

The search for `why’

Atlantic coverFor the past two years, I’ve been working on a biography of Texas oilman George P. Mitchell, sometimes (erroneously) called “the father of fracking.” Biographies are stories of people’s lives, but they really aren’t about the “who.” “Who was George Mitchell?” is a relatively straightforward question to answer.

Many people may be drawn to a book because they want to know the “how.” “How did George Mitchell change the world by developing fracking?” is an interesting question, but if you spend two years explaining it, you realize every biography attempts to answer the far bigger and more daunting question: why? “Why did George Mitchell develop fracking?” “Why did he pioneer sustainable development at the same time?” “Why did he believe these two seemingly disparate goals went hand-in-hand?”

The why is always the most difficult question, and it’s the question that most often gets lost in shorthand discussions on social media. I don’t post a lot of political stuff for the simple reason that very rarely are we given a chance to understand the why. Too often, the why of politics is drown out by posturing, platitudes and pablum (and, more recently, pugilism).

But I recently got around to reading Jeffrey Goldberg’s excellent piece on President Obama’s foreign policy, which was published in The Atlantic back in April. It’s extremely long but incredibly insightful,thoroughly research and reported, and well-written. Rather than deal with the politics, Goldberg focuses on the policy, on Obama’s thought process and on why he’s made the foreign policy decisions he’s made. Goldberg acknowledges the criticisms, but the piece is really designed to get inside Obama’s logic. In short, it’s all about the why.

You don’t have to agree with Obama’s decisions to be interested with how he came to them. Indeed, the piece points out that even many Democrats within his own administration disagreed strongly with the president. And you might decide, after understanding his logic, that’s he dead wrong. But the point is that at least you’ll understand. Foreign policy is complicated, and the answers aren’t short or easy. The beauty of the “why” lies in unraveling the complexity.

 

Is Bitcoin About to Become More Fed-like?

By Mike Cauldwell via Wikimedia Commons
By Mike Cauldwell via Wikimedia Commons

Can Bitcoin retain its anarchist edge while still operating more like a central bank? Last year, I wrote about how Texas has become a hotbed of Bitcoin development.

One of the challenges the digital currency faces is how it can replace conventional central banks without adopting many of the same characteristics, which Bitcoin loyalists loathe. This week, The Economist has a piece on how Bitcoin is now at a crossroads over how the digital currency should be governed:

On August 15th two of [Bitcoin’s] main developers released a competing version of the software that powers the currency. With no easy way to resolve feuds, some are warning that this “fork” could result in a full-blown schism.

The dispute is predictably arcane. The bone of contention is the size of a “block”, the name given to the batches into which Bitcoin transactions are assembled before they are processed. Satoshi Nakamoto, the crypto-buff who created the currency before disappearing from view in 2011, limited the block size to one megabyte. That is enough to handle about 300,000 transactions per day—suitable for a currency used mainly by geeks, as Bitcoin once was, but nowhere near enough to satisfy the growth aspirations of its boosters. Conventional payment systems like Visa and MasterCard can process tens of thousands of payments per second if needed.

By how much and when to increase this limit has long been a matter of a heated debate within the Bitcoin community. Overlapping cabals of “core maintainers” and “main developers” serve as de facto keepers of the currency, especially in Mr Nakamoto’s continued absence. Now one camp wants to increase block sizes, and do it soon. Otherwise, they argue, the system could crash as it runs out of capacity as early as next year. Transactions could take hours to confirm and fees could rocket, warns Mike Hearn, a leading Bitcoin developer. “Bitcoin would survive,” he wrote in a blog post in May, “but it would have lost critical momentum.”

The rival faction, supported by other heavyweight developers, frets that rushing to increase the block size would turn Bitcoin into more of a conventional payment processor. The system currently relies on thousands of independent “nodes”, computers dotted across the world that check whether transactions are valid and keep tabs on who owns which bitcoins. Increasing the block size could make the whole edifice so unwieldy as to dissuade nodes from participating, so hastening a recent decline in users. The result would be a more centralised system, prompting angst among Bitcoin purists who fret concentration could undermine the currency.

Read more.

Why It Will Take More Than Bass’s Billion to Fix Blue Bell

IMG_0228Fort Worth billionaire Sid Bass is reportedly pumping $125 million into Blue Bell Creameries, a move that will enable the iconic Texas ice cream maker to return to full production and may give Bass one-third ownership in the 108-year-old, family-run business.

It may not be enough.

To fix what ails Blue Bell requires a cultural change, which is one of the greatest challenges a company can face. As I wrote in the Houston Chronicle in May, Blue Bell’s initial response to the listeria outbreak that forced it to stop production demonstrated an unwillingness to recognize the root causes of the problem. That, combined with the family-run aspect of the business, may make it extremely difficult to implement the changes the company needs to prevent the crisis from recurring, as I outline in my latest op/ed:

Sid Bass is being hailed as Blue Bell’s white knight. The Fort Worth billionaire agreed to make a “significant investment” in the iconic creamery, which has been shut down since this spring because of listeria contamination linked to three deaths and seven illnesses.

Bass tends to be a passive investor, which may not be what Blue Bell needs to fix its problems.

Without any revenue to speak of for months, Blue Bell was undoubtedly growing concerned about its future – it was becoming easy prey for vulture investors.

Enter Bass, bursting with oil billions and benevolence. He can save Blue Bell with the spare change from under his couch cushions – where he apparently found $125 million, enough to buy one-third of the company. But Texas pride and a love of ice cream only go so far.

Because Blue Bell is a private company, and Bass is a notoriously private person, we don’t know how involved he’ll be in the company’s daily operations. But we do know that Bass isn’t the sort of guy to get his hands dirty.

But if he’s really going to save Blue Bell, if he’s serious about turning the company around, a couple of things need to happen. First, he or his representative needs a seat on the board, perhaps even the chairmanship. Second, that representative needs to demand sweeping changes to Blue Bell’s safety culture, and those changes need to be closely monitored.

Read more here.

BizRadio: The Next Chapter in Controversy

The devastation left by a tornado that hit Joplin, Mo., in 2011.
The devastation left by a tornado that hit Joplin, Mo., in 2011.

Sunday’s Houston Chronicle had a lengthy article on former Sugar Land mayor David Wallace and his business to help rejuvenate struggling cities. Wallace has apparently closed up shop, leaving several cities in the lurch and investors wondering what happened to their money.

Wallace also was a major backer of BizRadio, an AM network that once broadcast investment advice and other business information in Houston, Dallas, San Antonio, Denver and Colorado Springs.  I first wrote about BizRadio after its founders ran afoul of the Securities and Exchange Commission in 2009.

Wallace and a business partner, Costa Bajjali, had a firm that offered investors a chance to invest in real estate projects, although large portions of the funds the firm raised were funneled into BizRadio, the Chronicle reported. Although Wallace’s disputes involving BizRadio were settled, he later went on to pitch his services to cities such as Waco and Amarillo to help with redevelopment projects. Few materialized as planned, according to the Chronicle. The biggest deal came in 2011, when the Wallace Bajjali firm was hired to rebuild Joplin, Mo., after it was leveled by a tornado.

As the Chronicle reported:

. . . Officials learned the same lesson that Wallace’s investors had a few years earlier: Neither he nor his company was quite what it seemed. For all the plans and vision statements, they couldn’t make good on their plans.

By the time Wallace Bajjali quietly left town – after receiving $1.7 million in fees from the city and $5 million in a private loan – the partners had failed to get so much as a parking lot built.

The firm apparently closed up shop at the beginning of the year.

Fracking’s Publishing Boom Revisited

boompicIn Sunday’s New York Times, Jim Malewitz of the Texas Tribune revisits the publishing boom that has erupted in South Texas with hydraulic fracturing. The story focuses on The Boom at Eagle Ford Shale, a newspaper published by Kathy Rudkin, who runs an advertising agency in Boerne. I first wrote about fracking’s publishing boom in my Forbes blog last year, and I, too, focused on Rudkin’s publication.

As the Times story notes, advertisers are begging to get into these shale-related papers and tap into the huge market that the Eagle Ford has become. Thousands of oilfield workers with lots of discretionary income and little do during their time off make for an enticing market for everyone from retailers to purveyors of hunting lodges. In fact, one of The Boom’s regular features is “Bored in Eagle Ford,” which covers leisure-time activities.

By the way, I should note that after I wrote my piece last year, Rudkin contacted me and asked if she could reprint some of my Forbes posts. So periodically, posts like this one appear in The Boom under my byline. I’ve even had a few featured on the front page.

The Captain & Tennille and oil exports

captainandTI had an op/ed in Monday’s Houston Chronicle that drew an analogy between the Captain & Tennille’s recent divorce and our energy policy, which remains stuck in the 1970s:

Love apparently didn’t keep the ’70s pop duo Captain & Tennille together. Last month, Toni Tennille filed for divorce from Daryl Dragon after 39 years of marriage. Just as the pair’s most famous standard now rings false, so does our 1970s notion of energy security.

For the past 40 years, U.S. energy policy has been married to the idea of scarcity. Following the oil embargoes of the 1970s, we built policies, from export bans to ethanol mandates, based on the idea that we would forever be at the mercy of other oil-producing nations.

The hydraulic fracturing boom, however, has changed all that. North America is undergoing an energy renaissance.

Domestic crude oil production has reached parity with imports, and the International Energy Agency predicts the U.S. may become the world’s largest energy producer as early as next year. Yet our policies remain stuck in the dark ages of scarcity. Lawmakers on both sides of the aisle are reluctant to consider lifting the 1970s-era ban on crude exports, citing issues of “energy security.”

There’s a difference between ensuring our energy security and hoarding resources. With our newfound abundance, security comes through continued development of domestic reserves.

Forty years of scarcity and fears of being held hostage by unfriendly oil-producing regimes has blinded lawmakers to the obvious: Exporting oil is no different than exporting any other commodity.

During the four decades that the U.S. has banned oil exports, it has worked to expand free trade around the world, and the economic benefits of those efforts has been clear. Free trade has boosted competition on a global scale, encouraged innovation and increased our standard of living at home by driving down prices for a broad range of goods.

Read more here. 

My return to the pages of the Houston Chronicle

frackingatdawnThe Houston Chronicle today published my op/ed piece on mounting safety and security issues raised by the hydraulic fracturing boom in the Eagle Ford Shale of South Texas:

A few weeks ago, Bill Blackwell turned off a stretch of road in South Texas and onto a property where crews are drilling five oil wells. Nobody stopped him. Blackwell isn’t a threat. He owns the property, on which he has a second home. The drilling company, though, is supposed to maintain a guard at the entrance.

“Somebody could have driven right up to the house,” he said. “If you have just an open area, people don’t feel particularly constrained – there are no signs, nobody to keep them out.”

In South Texas, in the rejuvenated Permian Basin of West Texas and in other drilling hot spots around the country, landowners are confronting a litany of safety and security concerns – many of which they didn’t anticipate – as they allow hydraulic fracturing on their land.

The oil boom is bringing jobs and wealth to areas such as South Texas that for decades had little of either, but it also is eroding residents’ sense of familiarity, and with it, a sense of security. Towns in which everyone knew everyone else are now seeing a boom in new hotels and restaurants overrun with strangers chasing high-paying jobs in the rejuvenated Oil Patch.

Like Blackwell, many landowners worry that contractors hired by the drilling companies aren’t taking proper care of the land. The number of rig workers – strangers – on their properties overwhelms others.

Property owners aren’t the only ones with concerns. Thanks to the oil boom, drilling companies are facing safety and security issues of their own.

In places like South Texas’ Eagle Ford shale, any drilling in the past 50 years probably involved low-production “stripper” wells that required little monitoring. Because of hydraulic fracturing, oil companies have more at stake in each drilling project. A typical well in the Eagle Ford can cost as much as $7 million to $10 million, and because of the volume of oil produced, companies must do more to protect the value of their production than they did in the old days.

Read more here.