California has pending legislation, AB 2529, to require an economic impact analysis of proposed new regulation. Its opponents correctly point out that AB 2529 will delay and increase the cost of new regulation. There will be lawsuits and arguments over the proper methodology and over assumptions. It is not easy to complete a thorough and unbiased economic impact analysis.
Should California incur the costs and delays of economic impact studies? read more »
The most serious collateral damage from the BP spill disaster could very likely be in the far north, along the Alaskan coast. The problem is not a current spill but the Obama administration's ban on offshore drilling and what many fear may be a broader attempt to close the state from further resource-related development.
Such an approach could harm both the local and national economies for decades to come. read more »
For more than fifteen years, I spent a considerable amount of my professional time in the company of oil men. For years I ate lunch with them, traveled with them to places like Scotland and Russia, listened to their war stories over drinks, watched them unfurl seismic charts on board tables, read their budgets, and marveled at their forecasts — all of which predicted finding the next Prudhoe Bay, North Sea, Bass Strait, or Caspian Sea, no matter where they looked. In one meeting, I heard of a vast store of gas under, alas, the walls of old Jerusalem. read more »
On a drizzly, warm June night, the bars, galleries, and restaurants along Broadway are packed with young revelers. Traffic moves slowly, as drivers look for parking. The bar at the Donaldson, a boutique hotel, is so packed with stylish patrons that I can’t get a drink. My friend, a local, and I head over to Monte’s, a trendy Italian place down the street. We watch a group of attractive 30-something blondes share a table and gossip. They look like the cast of the latest Housewives series. read more »
As world leaders gather in Canada this weekend, the nations with the most influence won't be the high-tech mavens. Joel Kotkin on why traditional industries still matter in the post-information age.
Are we entering the post-information age?
For much of the last quarter century, conventional wisdom from some of the best minds of our times, like Daniel Bell, Alvin Toffler and Taichi Sakaiya—in both East and West—predicted that power would shift to those countries that dominate the so-called information age. At the time, this was the right call, but it may increasingly be, if you will, old news. Although there’s no question that iPhones and 3-D movies are nifty—and hedge funds generators of massive wealth for investors and operators—we now may actually be entering what might be called the post-information age. read more »
The BP oil spill disaster likely spells the slowing down, or even curtailing, of offshore oil drilling for the foreseeable future. You can take California, Florida and much of the east coast off the energy-drilling map for years, perhaps decades.
But if the oil, gas and coal industries are widely detested on the coasts, people in Bismarck, N.D., have little incentive to join an anti-energy jihad. Like other interior energy centers, people in this small Missouri river city of over 100,000 see their rising oil-, gas- and coal-based economy as the key to a far more lucrative future. read more »
Environmentalism is strangely detached from the public's economic goals.
The awful oil spill in the Gulf--as well as the recent coal mine disaster in West Virginia--has added spring to the step of America's hugely influential environmental lobby. After years of hand-wringing over global warming (aka climate change), the greens now have an issue that will play to legitimate public concerns for weeks and months ahead.
This is as it should be. Strong support for environmental regulation--starting particularly under our original "green president," Richard Nixon--has been based on the protection of public health and safety, as well as the preservation of America's wild spaces. read more »
It may surprise you to know that some policy makers and academics believe that “nothing matters” when it comes to infrastructure -- the physical structures that make water, energy, broadband and transportation work -- and economic prosperity. The thrust of the idea that infrastructure doesn’t matter may have started with Larry Summers, appointed by President Obama as Director of the National Economic Council in 2009. The New York Times says he is “the only top economic adviser with a West Wing office” – meaning he is very powerful in Washington terms. read more »
By Richard Reep
Some say it took Mrs. O’Leary’s cow to make Chicago the city of great architecture that it is today: after the fire of 1871 that destroyed many of its buildings, leading citizens recognized the critical importance of their built environment. Today, we have a city that boasts some of the world’s best architecture. If BP’s oil disaster is a new millennium cow starting another conflagration, the nation may ironically benefit from seeing the ominous oil slick spreading across the gulf, spelling the end to our dependence on oil as the dominant energy source for the nation. read more »