The Triumph of the Consumer in the Falling Oil Prices

The news that oil prices are going down for quite some time is being reported as a gamble by the Saudis, who are supposed to have had a heavy influence on OPEC’s decision not to stop production. As Ambrose Evans-Pritchard writes in the Telegraph, “Saudis risk playing with fire in shale-price showdown as crude crashes.” Saudi Arabia and the core OPEC states are taking an immense political gamble by letting crude oil prices crash to $66 a barrel, if their aim is to shake out the weakest Read more […]

Is Barack Obama Doing Pretend Environmentalism?

I pointed out yesterday that Barack Obama is siding with one industry over another in his new EPA proposals. However, it is possible that all of this is fakery. Think about it. Despite the environmentalist accusations against fracking, Obama claimed natural gas as a clean source of energy along with all the others. Unlike solar energy and wind farms, natural gas is a truly competitive form of energy. It is already being used to meet energy needs, and really has no need for subsidies or other help Read more […]

Obama Favors One Industry Over Another: That is Corruption, not Environmentalism

So the news is out that Obama is going to destroy one industry and “stimulate” another. This act of aggression is being treated as a heroic act rather than a criminal one. Here’s Bloomberg’s version of the story: “Obama Climate Proposal Will Shift Industry Foundations.” Coal-dependent power companies from American Electric Power Co. (AEP) to Duke Energy Corp. (DUK) face billions of dollars in added costs from the Obama administration’s proposed climate rules. Renewable-energy backers Read more […]

Irony: Bailing Out Ukraine Might Make Russia Richer

Amid all the turmoil over Ukraine, politicians in the United States are thinking seriously about giving the country some kind of “bailout.” As CNBC explains, Ukraine has been in a recession since the middle of last year, and its economy has been hit by deflation. The Ukraine government said last month that its budget deficit rose 21.2 percent in 2013 over 2012. In response to its economic struggles and Russia’s invasion of the Crimea, the European Union on Wednesday said it’s ready to give Read more […]