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.
The Environmental Protection Agency’s new Clean Power Plan (CPP) requires that states reduce their electric utility sector carbon dioxide emissions an average of 32% below 2005 levels by 2030. EPA twisted 80 words in the Clean Air Act into 1,560 pages of regulations (plus appendices) demanding that utilities return CO2 emissions almost to 1975 levels, while our population grows by 40 million.
In the same way that EPA has extended its control over water—and even land—under clean water laws (See Part 1), it has exceeded Constitutional authority and the intent of Congress under the Clean Air Acts. Once again, it has caused an enormous waste of billions of taxpayer dollars on government itself—and costs approaching a trillion dollars for compliance in the private sector. All this with measures that have little benefit—and often negative consequences—to the environment or human health. Take carbon dioxide for example.
In today’s edition of the Heartland Daily Podcast, Devon Herrick, a Senior Fellow at the National Center for Policy Analysis, joins managing editor Kenneth Artz to talk about the 50th anniversary of Medicare, the federal/state health care program for the elderly.
Reckless government spending and an uncontrollable federal debt have created an unavoidable monetary disaster ahead. The door to unlimited federal spending was opened by President Nixon in 1971 when he severed the last link between the dollar and gold by ending foreign central banks’ ability to exchange dollars for U.S. gold. Politicians realized that more spending produced more votes to keep them in office; and with no limit on federal spending, the mountain of debt just kept on growing.
Its current form is the 2001 No Child Left Behind Act (NCLB), which critics of varied stripes widely regard as a colossal flop. Yet, few in Washington, DC dare talk of repeal. Even with both houses now under Republican control, Congress continues to haggle into an eighth year over the particulars of reauthorization.
Was there a resounding clamor for an EPA? Certainly not from Republicans. And not from Democrats – else Nixon could have (should have) gone to the bi-cameral-Democrat-majority Congress for legislation. (Actually, to expand the federal government’s purview to this massive degree would have – should have – required a Constitutional amendment.)
The fact the Senate Homeland Security and Government Affairs Committee is attacking the Environmental Protection Agency’s (EPA) management—er, mismanagement—of the federal renewable fuel standard (RFS) is indicative of the growing frustration over both the agency and the RFS itself.
Nearly 10 years have passed since the federal government imposed a national mandate requiring gasoline be blended with ethanol. At that time, President George W. Bush claimed the United States was addicted to oil and that biofuels, especially ethanol produced from corn, offered an important way to bring down gasoline prices while weaning the nation off of foreign sources of oil and supporting economic development in rural America.
The Ex-Im Bank has become a key talking point in the 2016 presidential campaign, but most people don’t even know what it is or why it exists. They surely don’t know that it is a New-Deal era government program that takes our tax dollars and gives them to big businesses—like Boeing, ExxonMobil, and General Electric—to make it easier to sell their products overseas.
There are currently four patent “reform” bills being considered by Congress. Patents are a way innovators protect their ideas – which is how we as a society protect our continued economic viability. If people who invent cool stuff can’t protect their cool stuff from thieves – they’ll stop inventing cool stuff.
One year ago, Gina McCarthy, Environmental Protection Agency (EPA) Administrator, announced the controversial centerpiece of the Obama Administration’s climate change legacy: the Clean Power Plan (CPP). The rule is slated for finalization this summer.
A new national policy analysis forecasts a fast-approaching “death spiral” for Obamacare, as catastrophic losses from the health insurance program mount even more quickly than experts expected. “Pundits like Paul Krugman saw the[…]
It is an empirical fact – a metaphysical certitude. Government overreaches. And the Barack Obama Administration has the longest, most overactive arms ever. With many, many, MANY power-grabbing hands.
A new economic “scoring” policy at the Congressional Budget Office (CBO), so-called “dynamic scoring,” may dramatically impact Obamacare, revealing further financial flaws in the already controversial healthcare entitlement program. Presently,[…]
The Congressional Budget Office (CBO) reported in early May that for the month of April 2015 the Federal government ran a budget surplus, taking in more in taxes than it laid out in expenditures. Don’t be fooled by one month, especially when it was a month when people filed and pay their taxes. Government deficits and growing debt are on the horizon for as far as the human eye can predict.
Arguably the single most successful endeavor undertaken by Congress in the past 20 years was its effort to enact significant reform of the U.S. welfare system. Even greater success is possible, with simple steps that states can take to help millions of impoverished people transition from government dependency to the freedom and self-sufficiency provided by a high-quality job.