supply

Old fallacies have a way of reappearing, especially, during times of social and economic crises. The current coronavirus crisis has opened the door to a variety of them.

There is a sense these days, whether in politics or academia, that people should shape their own realities and each result is as valid or real as any other.

Death Valley, California, is known as “the hottest place on earth.” But, if you hear the news that the “Hottest Place on Earth Has Record-Breaking Hot June”—when “temperatures exceeded average June temperatures by about 6 °F”—it might be easy to ascribe the heat to alarmist claims of climate change. While Southern California was experiencing power outages due to a heat wave, Death Valley hit 126 °F—though the previous June high was 129 °F on June 30, 2013, and Death Valley holds the highest officially recorded temperature on the planet: 134 °F on July 10, 1913.

In today’s edition of the Heartland Daily Podcast, Heartland Science Director Jay Lehr joins host H. Sterling Burnett to talk about the abundant supply of oil and gas that exists due to fracking and in the future, Shale rock development and methane hydrates.

Some on the political right are floating a new “supply-side” idea for reducing carbon dioxide emissions without creating more market distortions: clean tax cuts. Proponents of the cuts want to reduce or end all taxes on investments in technologies that reduce greenhouse gas emissions.