Enjoying low gas prices? How long will they last? In this edition of The Heartland Daily Podcast, Dr. Bud Weinstein, Associate Director of the Maguire Energy Institute and research fellow Isaac Orr talk about the Keystone Pipeline and the factors that influence the global prices of oil.
Nevada’s casinos and the state’s largest electricity supplier are locked in an escalating conflict, but the Nevada Legislature can turn the impasse into a victory for both parties if it will merely restore economic freedom to electricity markets.
The media are, of course, almost uniformly Leftist – which means they just about always toe the Party line. Including the belief that in order to help the poor – government must perpetually grow. Of course we conservatives also want to help the poor – we just think shrinking government is the way to actually do it.
People have been moving away from Canada’s largest metropolitan areas (Toronto, Montréal and Vancouver) for the last decade, according to Statistics Canada 2004/5 to 2013/4 data. Internal migration includes moving by residents within provinces (intra-provincial migration) and between provinces (inter-provincial migration). This is in contrast to international migration, which is adding population to virtually all census metropolitan areas.
There is no way to describe current Federal Reserve policy other than as monetary confusion and misdirection. In a nutshell, Janet Yellen and the other members of the Fed’s Board of Governors have no idea what to do. Do they raise certain interest rates over which they have some direct influence? Do they keep them at their current rock bottom levels, as they have for the last six years?
Germany and the United States are embarking on two drastically different energy policies, and these countries are reaping dramatically different results. In Germany, the government devised a top-down plan called Energiewende, a term meaning “turn” or “revolution,” intended to make Germany the renewable-energy center of the world. The United States has experienced its own energy revolution thanks to hydraulic fracturing, also known as “fracking,” which has transformed our nation into the largest producer of oil and natural gas in the world in spite of, not because of, the federal government.
A little more than a year ago, oil prices were above $100 a barrel. The national average for gasoline was in the $3.50 range. In late spring, oil was $60ish and the national average for gas was around $2.70. The price of a barrel of oil has plunged to $40 and below—yet, prices at the pump are just slightly less than they were when oil was almost double what it is today.
More government means more expensive everything. Every second and penny spent paying government taxes and complying with government regulations – raises the prices of the goods and services people proffer.
Even with prices 40 percent lower than a year ago, we remain the world’s No. 1 producer of crude oil and other liquid hydrocarbons. Imports of oil have dropped from 60 percent of consumption to about 35 percent just in the past five years. We’re also the world’s largest producer of natural gas.
You may not have noticed it when out buying things in the marketplace in the context of your personal budget, but according to the Wall Street Journal (April 24, 2015) the world is awash with too much stuff. We seemingly have too much of, well, almost everything: too many raw material commodities, too much capital, and too much labor. The world, claims the Journal, is suffering from global gluts.
The Taxpayers Protection Alliance (TPA) published a report February 12, 2015 “Filling the Solar Sinkhole Billions of Bucks Have Delivered Too Little Bang”. The report summarized, “In spite of government’s best efforts to encourage innovation by solar energy companies and encourage Americans to rely more heavily on solar electricity, solar power continues to be a losing proposition…”
The headline line in the Sunday St. Louis Post-Dispatch asked “Are St. Louis Area’s Home Prices too Low?” This is could not possibly have appeared describing any major metropolitan area of Australia, New Zealand, or the United Kingdom. Nor will newspapers in Vancouver, Toronto, Calgary, Portland, Seattle, Boston, New York or in any of the overpriced markets of California decry low prices any time soon.
One of the great myths about the capitalist system is the presumption that businessmen make profits at the expense of the consumers and workers in society. Nothing could be further from the truth.
Even though national gas prices have only been under $3 per gallon for less than five months, governments across the country have already started to propose major energy tax increases in an effort to find an easy way to alleviate budget shortfalls.
Citizens concerned about high-cost electricity, skyrocketing government debt, and massive giveaways of hard-earned tax dollars to crony corporations should call or email their senators and their congressman – and explain why these subsidies should end now.
A couple of months ago, effective in November, National Grid, one of Massachusetts’ two dominant utilities, announced rate increases of a “whopping” 37 percent over last year. Other utilities in the region are expected to follow suit.
Policy analysts and pundits alike seem to enjoy downplaying the U.S. economy’s recovery since the recession of 2008/9. It is time for them to wake up and smell the roses: The U.S. economy clearly is the dominant economy of the world. The European Union’s death rattle continues, while China is encountering a litany of unforeseen problems.
What is far and away the most important global trade commodity? Food. People have to eat. Before the world’s peoples can afford to purchase from us an iPhone, or a Ford pickup truck – they have to buy (hopefully our) food.
In the Hunger Games franchise of movies and young-adult novels, political power is concentrated within the Capitol; citizens there revel in pageantry and pomp while their fellow Americans suffer from the dire, impoverishing consequences of the government’s policies. That same sort of sedimentation of power and money into the nation’s capital is happening in the current-day United States.