Bachmann American Energy Tour Conference Call PDF Print E-mail
Written by Gary Gross   
Tuesday, 22 July 2008 12:48

I just finished participating in Rep. Michele Bachmann's conference call summarizing the "American Energy Tour" trip to the National Renewable Energy Laboratory and to Alaska. The most bizarre question and followup was from the Pioneer Press' Jim Ragsdale.

Rep. Bachmann used a word picture to describe the offlimits energy supplies in this way:

Picture the pantry being full of food and your children wanting to eat. Then picture that the pantry is locked. America has lots of energy but Congress has locked the pantry.

Mr. Ragsdale started by saying that he liked the picture, then asked this question:
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All Of The Above PDF Print E-mail
Written by Matt Abe   
Tuesday, 22 July 2008 11:35

Oil, natural gas, and wind energy baron T. Boone Pickens testified today to the U.S. Senate on moving from foreign sources of oil to, well, natural gas and wind energy. We are certainly too dependent on oil from unfriendly nations, and renewable energy should be pursued and used where it makes sense, but some of Pickens' testimony caused me to pause.

"I have to think in 10 years, the demand for oil — because the price now is going up — in 10 years, you're going to have $300 oil. Maybe higher, I don't know," said Pickens, as quoted by Fox News.
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Jesus Christ Oberstar PDF Print E-mail
Written by Mark Heuring   
Saturday, 19 July 2008 21:00
Jim Oberstar has been in Congress a long time. He went to Washington with the Watergate babies following the 1974 election and since he represents Duluth and the Iron Range, he hasn't been seriously challenged for his congressional seat. Aside from someone like this guy, he's about as venerable as they get.

I can only say that Oberstar must feel especially safe about his reelection, because only a guy who has a fiefdom would propose something as dumb as raising the federal gas tax. Per this AP report (via Fox News):
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Why Airlines Favor Socialism PDF Print E-mail
Written by King Banaian   
Friday, 18 July 2008 16:24
There are days I wonder why David Strom ever invites me on his show. This column about the Stop Oil Speculation Now program gets it right, and adds something I had not:
The government taking more control over futures markets would do nothing to hold down the price of oil or food—in fact, such a move would almost certainly make things worse in the long run. And I am willing to bet that the folks behind Stop Oil Speculation Now KNOW that it would make things worse for consumers.

But they aren’t worried about that. I think they are hoping that getting the government into the oil pricing business will lead to more explicit price controls and supply management, putting their “vital” businesses at the head of the line for cheaper fuel and avoiding the inevitable fuel shortages that price controls would bring.
All scarce goods are allocated somehow; in a market system, price serves that function. If you prevent prices from performing that function, something else will. Airlines as rentseekers would be in a position to get government to do it for them.
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Celebrate Milton Friedman's 96th Birthday PDF Print E-mail
Written by Chief   
Friday, 18 July 2008 16:06
 
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