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.
Forty years ago, on October 9, 1974, the Nobel Prize committee announced that the co-recipient of that year’s award for economics was the Austrian economist, Friedrich A. Hayek. Never was there a more deserving recognition for one of the truly great free market thinkers of modern times.
Thanks mainly to the shale revolution, oil production in the U.S. hit a 28-year high last month while imports were at their lowest levels since 1995. Consequently, prices have fallen 15% since June, and Saudi Arabia has cut production by 400,000 barrels a day — providing further evidence that OPEC no longer has the power to set prices.
For almost eight years, I have been urging, along with other Free State Foundation scholars, an end to the costly so-called “integration ban.”This outdated, costly FCC regulation bans cable operators from integrating the security and programming navigation functions in set-top boxes.
One of the great fallacies arrogantly believed in by those in political power is the notion that they can know enough to manage and command the lives of everyone in society with better results than if people are left to live their own lives as they freely choose.
This Molly Ball piece on the metric which best determines the outcome of elections makes for a fascinating read: essentially, it demonstrates that when Republicans don’t lose the working class by a wide margin, they do well, and when they lose it by 20 points, they don’t. Throw out all the other measures of race and religion – and Republicans even spot the Democrats the ten points! – and the share of the working class vote determines the outcome:
In the past two decades the Internet has come to be a dominant part of people’s lives. For work, pleasure, communication, and countless other uses, the Internet is an indispensable tool to many individuals. Without it, much of the information-based civilization that has been built up would stop working the way we are accustomed to.