The view that the profit motive is evil and the undefinable goals of “corporate social responsibility” and “environmental sustainability” are noble is the reverse of the truth.
It is about time the oil companies take the high moral ground and tell the world what a crucial value oil and other fossil fuels are to us.
Controversy is heating up over an Obama administration plan to drastically reduce the amount of federal lands available for oil shale development in the American West. The Bush administration had set aside 1.3 million acres for oil shale and tar sands development in Colorado, Utah and Wyoming. The new Bureau of Land Management [BLM] plan […]
On Sunday, February 17, the Sierra Club will lead what is being billed as the world’s largest ever “climate rally.” “This is a blackout rally,” said Alex Epstein, President of the Center for Industrial Progress (CIP). “The Sierra Club doesn’t just want to outlaw the Keystone Pipeline, which would by itself be a horrible economic […]
It has long been noted that government intervention seldom, if ever, accomplishes the stated purpose. When the failure of some regulation, subsidy, or program becomes clear, legislators respond with further interventions. As an example, consider the solar panel industry. Solyndra, which received more than $500 billion in federal loan guarantees, is only one of many […]
The headline on CNN.com said it all: “Big Oil’s promise: Let us drill, we’ll hire 1.4 million workers.” The article goes on to say: With job creation taking center stage in American politics, the oil industry Wednesday made a pitch for drilling more widely. With looser restrictions, the industry says it could deliver 1.4 million […]
Energy companies, particularly those producing fossil fuels—oil, natural gas, coal—are under attack by the environmentalists and their sympathizers in the media. It is one thing to criticize companies such as BP, deservedly, for lax safety procedures or lacking emergency preparedness that lead to disastrous pollution. But it is entirely different to attack these companies precisely […]
This month, as unleaded gasoline prices increased for 17 consecutive days (to a national average of $3.647 per gallon – up 11% thus far this year) and West Texas Intermediate crude joined Brent crude in breaking through a $100 per barrel level, energy prices emerged as a full blown political issue. While President Obama conveniently […]
Imagine you invented a machine that revolutionized travel. You know your invention could cut local and long distance travel time substantially and vastly improve the ability for business to deliver freight efficiently. The invention would add trillions to global GDP. If released, your invention would no doubt be universally used and admired. However, based on […]
On April 6, the Obama administration released its new nuclear strategy; on Thursday, the prez inked a new nuke treaty with the Russians in Prague. This week, he’s hosting an all-world atomic affair in Washington. It’s a veritable “no-nukes-palooza.” Problem is, not all nuclear cutbacks are wise. This week’s D.C. summit makes sense: It’s focused […]
“Proven” oil reserves, oil that’s economically and technologically recoverable, are estimated to be more than 1.1 trillion barrels. That’s enough oil, at current usage rates, to fuel the world’s economy for 38 years, according to Leonardo Maugeri, vice president for the Italian energy company ENI. Mr. Maugeri provides a wealth of information about energy in […]
There’s a very fundamental reason for the latest blackout on the East Coast. The United States of America needs more power facilities. I’m not talking about ten thousand windmills on the coast of Massachusetts or seventy square miles of solar collectors in Vermont. I’m talking about burning coal and using natural gas. I’m talking about […]