Friday , April 20 2018
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Monday afternoon links – Publications – AEI

Summary:
AEI Monday afternoon links 1. Chart of the Day (above) shows: a) annual US natural gas production (blue bars, right scale) and b) annual US residential natural gas prices in inflation-adjusted 2016 dollars (dark blue line, left scale) from 1995 to 2016. It was the Shale Revolution that accessed a bonanza of America’s abundant natural gas resources in shale formations miles below the ground, which increased production by 40% in the last decade and brought real gas prices in 2016 to their lowest level in almost two decades. So if you’re heating your home with the cheapest natural gas since the late 1990s and feeling comfortable and toasty during the frigid cold weather, you can thank the revolutionary technologies of fracking and horizontal drilling that made your natural gas so abundant

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AEI
Monday afternoon links

Monday afternoon links - Publications – AEI

1. Chart of the Day (above) shows: a) annual US natural gas production (blue bars, right scale) and b) annual US residential natural gas prices in inflation-adjusted 2016 dollars (dark blue line, left scale) from 1995 to 2016. It was the Shale Revolution that accessed a bonanza of America’s abundant natural gas resources in shale formations miles below the ground, which increased production by 40% in the last decade and brought real gas prices in 2016 to their lowest level in almost two decades. So if you’re heating your home with the cheapest natural gas since the late 1990s and feeling comfortable and toasty during the frigid cold weather, you can thank the revolutionary technologies of fracking and horizontal drilling that made your natural gas so abundant and affordable.

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2. Energy Quiz: In 2017 (through September, most recent month available) what shares of total energy consumed in the US were provided by: a) fossil fuels, b) solar energy, and c) wind energy. Find the answers here and here. You might be surprised.

Monday afternoon links - Publications – AEI

3. Venn Diagram of the Day (above) is in honor of the 2018 Golden Globe Awards last night and to recognize the selective concern on being called an “actor.”

4. James Damore Just Filed a Class Action Lawsuit against Google. Reason? It discriminates against white male conservatives.

The lawsuit accuses Google of singling out, mistreating and systematically punishing and terminating employees who “expressed views deviating from the majority view at Google on political subjects raised in the workplace and relevant to Google’s employment policies and its business, such as ‘diversity’ hiring policies, ‘bias sensitivity’ or ‘social justice’…”

According to Damore’s filing, Google employs “illegal hiring quotas to fill its desired percentages of women and favored minority candidates, and openly shames managers of business units who fail to meet their  quotas—in the process, openly denigrating male and Caucasian employees as less favored than others.” The suit also claims that “numerical presence of women celebrated at Google” was based “solely due to their gender” while the “presence of Caucasians and males was mocked with ‘boos’ during companywide weekly meetings.” The lawsuit is seeking monetary, non-monetary and punitive remedies.

Good for James Damore and good luck.

5. Quotation of the Day I is from Greg Gutfeld on libertarianism.

I became a conservative by being around liberals and I became a libertarian by being around conservatives. You realize that there’s something distinctly in common between the two groups, the left and the right; the worst part of each of them is the moralizing. On the left, you have people who want to dictate your behavior under the guise of tolerance. Unless you disagree with them. Then the tolerance goes out the window. Which kind of negates the whole idea of tolerance. That’s the politically correct moralizing. Then when you become a conservative, the other kind of moralizing comes from religion. But if you remove both of those from the equation, what you’re left with is libertarianism.

Amen.

6. Quotation of the Day II is from Thomas Sowell on “free” stuff and ObamaCare:

Just as there is no free lunch, there is no free red tape. Bureaucrats have to eat, just like everyone else, and they need a place to live and some other amenities. How do you suppose the price of medical care can go down when the costs of new government bureaucracies are added to the costs of the medical treatment itself?

7. Who’d a-Thunk It? Democratic Politicians Just Make Stuff Up for Political Purposes? According to Nancy Pelosi “The moral obscenity and unrepentant greed of the GOP tax scam stands out as brazen theft.” Elizabeth Warren claimed Republicans were “just delivering one gut punch after another to hardworking people.”  Sen. Bernie Sanders called the tax bill a “disaster for Americans.” Hmmmmm…. What would they say about this headline and story from the Baltimore Sun — “Baltimore Gas & Electric Co. wants to pass on $82M in tax savings to customers after federal tax reform”??

Baltimore Gas & Electric Co. plans to pass on about $82 million in tax savings to customers as a result of the federal tax reform passed by Republicans in December that lowered the corporate tax rate. The Baltimore-based utility announced the pending rate cuts Friday, saying the average residential electric customers can expect their monthly bill to decrease by $2.31 beginning in February. Bills will go down by an average of $4.27 a month for customers who buy both electricity and natural gas from BGE.

I’ve heard many, many times that only “the rich” or “ultra-rich” will benefit from tax reform and it would worse inequality, etc. The cuts in electric rates for BGE customers in Baltimore sure seems like a lot of average and poor people are already starting to benefit from the “tax scam” — and this is just one of hundreds of examples of average hardworking Americans benefit. See Andy Puzder’s WSJ op-ed today where he reports that “more than 100 diverse businesses … announced pay hikes for workers within two weeks of the tax bill’s passage.”

Pay hikes + lower utility bills = Gut punches? Greed? Brazen Theft? Seems more like “trickle down tax reform” to me…

8. Speaking of Tax Scam/Moral Obscenity/Gutpunch/Brazen Theft, here’s a much better example than the GOP tax bill: “NY taxpayers built $90M factory for a firm that walked away, didn’t create a single job.” YIKES!

9. Let’s Legalize It I. Sure, weeds, but the Institute for Justice (the “National Law Firm for Liberty”) is engaged in some other important legal efforts to legalize the right to earn a living without a permission slip the government to: a) teach horse shoeing in California, b) sell home-baked goods in New Jersey and c) operate home-based businesses in Nashville. And congratulations to IJ for a recent legal victory for Baltimore food trucks.

10. Let’s Legalize It II. Slumber parties for the homeless in the Chicago area. Because sleeping outside in the frigid cold is somehow less dangerous than in a warm basement? Reminds me of what Margaret Thatcher said, “No one would remember the Good Samaritan if he’d only had good intentions; he had money as well.” And for Good Samaritan Greg Schiller he also had a warm basement for the homeless on frigid winter evenings. But no longer I guess…..

Monday afternoon links
Mark Perry

Mark Perry
Mark J. Perry is concurrently a scholar at AEI and a professor of economics and finance at the University of Michigan’s Flint campus. He is best known as the creator and editor of the popular economics blog Carpe Diem. At AEI, Perry writes about economic and financial issues for American.com and the AEIdeas blog.

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