Oil Company Stops Drilling without Environmentalists Forcing a Halt

An oil company already has market incentives to not drill too much and to preserve resources for the future. An oil company stopped drilling in the Arctic. Environmentalists rejoiced. But this shows us something about resource management. According to The Associated Press, “Shell ceases Alaska Arctic drilling, cites disappointing results from exploratory well.” Royal Dutch Shell will cease exploration in Arctic waters off Alaska’s coast following disappointing results from an exploratory Read more […]

The Stock Market v. the Economy

What is good for the stock market is not necessarily good for the American people. Sometimes the stock market reveals economic reality. A sudden plunge usually means that people are realizing that economic productivity was being grossly exaggerated. So now they are making a “correction.” [See also, “Did the Stock Market Receive a Secret Bailout?”] But other times the stock market is a distraction from economic reality. Here is an example: “Stocks Are Mixed as Crude Oil Closes Worst Read more […]

Maybe Cheap Oil Means a BETTER Economy and Less Tyranny

The media keeps reporting on cheap oil as if the people living under tyrannies need those governments to prosper. A few days ago there was a good summary of God’s merciful, providential gift of lower energy costs, pointing out that some people think it may go down to twenty dollars a barrell. It was published at Newser.com. But it also included a reference to this story in Fortune. After making some wonderful predictions about cheap energy, the article says: Of course, geopolitical events Read more […]

New Fuel Prices Show Gov Doesn’t Know Future

Recent fuel prices are spoiling the government’s plans for getting us all into alternative energy and other technologies they have been pushing on us. In every case, the government’s apologists and spokespersons claim, in the most condescending and pretentious manner possible, that the government has the experts and the resources to tell us all how to best move into the future. We don’t have “five-year-plans” in the U.S. but that isn’t because the people who rule us don’t wish Read more […]

Global Warming Cred: Are Rockefellers Stupid or Frauds?

This is such transparent foolishness that I want to think the Rockefellers have to be following a crafty plan designed to fool people.  But it is hard to be certain. People deceive themselves and make stupid decisions all the time. Here’s how the New York Times begins their version of the story: John D. Rockefeller built a vast fortune on oil. Now his heirs are abandoning fossil fuels. The family whose legendary wealth flowed from Standard Oil is planning to announce on Monday that its Read more […]

Over 200 Oil-Pipeline Accidents in Last 10 Years. So What?

In response to a piece I wrote last week about the oil prohibitionists on the left, a liberal directed me to Wikipedia’s comprehensive “List of pipeline accidents in the United States in the 21st century” to justify banning drilling for oil. It is a quite expansive list. If the list is to be believed—and I, for one, do believe it—there have been over 200 oil-pipeline accidents in the United States since the year 2000, the causes of which ranged from natural disasters to negligence. And, being Read more […]

The Illogic of Oil Prohibitionists

Thomas Friedman writes in The New York Times that he hopes President Obama turns down further proposals to build the Keystone XL oil pipeline. After all, he says, “Who wants the U.S. to facilitate the dirtiest extraction of the dirtiest crude from tar sands in Canada’s far north?” What is with liberals making judgments of everything, from oil to people, based on color? Yes, oil is dirty. It’s black, it’s slimy, and takes a while to clean up. But that is why the Keystone pipeline is not the Read more […]