If President Obama is going to subsidize industries either because he likes them or because other Nations’ governments are subsidizing them, then we must acknowledge that he is engaged in industrial policy, aka state-managed capitalism, with an open question about whether the managing state is based in DC, Berlin, or Beijing.
Domestic oil production in the U.S. has increased over the past three years and should continue doing so in the near future. That is good news. This good news results from improvements in oil production technology, not from President Obama’s policies.
Wind, solar, and geothermal sources are trivially small sources of U.S. energy. Doubling their usage is significant within those industries but when compared to the overall pattern of energy usage in the U.S. the increases are tiny.
In America there is little overlap between fuel used for transportation and electricity used to light, heat, and power our homes and businesses.
Maybe the S&P report will scare the President’s team into treating the long-term problem seriously rather than using it as a campaign weapon. I’m not holding my breath.
The President is arguing that those who disagree with his policies are engaged in politics. They are, he argues, motivated not by a well-intentioned difference of opinion about how to improve America, but instead by selfish motives.
Is the President’s $328 B “Bipartisan financing for Transportation Trust Fund” proposal a gas tax increase or a budget gimmick?
Thanks to both Maggie Koerth-Baker and to Evelyn and Commander Mark Mervine (ret.) for their explanations of the ongoing crisis at the Fukushima nuclear power plant. Their work blows away anything I have so far seen in the MSM.
Based on public information, I think it’s hard to justify an SPR release now. If a lot more supply goes offline (in Libya or elsewhere), and if the Saudis lack the spare capacity to offset that additional loss, then the President will have a tough call to make.