MacPorts fails to initialize

[cornelius]

Hi

I've upgraded to 1.5 and now I'm getting for every port command the
following:

[~] port version
image not found
    while executing
"load Pextlib.dylib"
    ("package ifneeded" script)
    invoked from within
"package require Pextlib 1.0"
    (procedure "mportinit" line 365)
    invoked from within
"mportinit ui_options global_options global_variations"
Error: /opt/local/bin/port: Failed to initialize MacPorts, image not found


any ideas?
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