With gasoline prices at a two-year high, President Barack Obama today called for a crackdown on “price gouging” at the pump. Some consumers may feel relief to hear that the White House intends to protect them from supposedly unscrupulous suppliers. But the President’s energy policies are a lot more to blame for the current high prices than any market manipulation. And to the extent his “price gouging” rhetoric persists, the rise in oil prices could worsen. Oil prices have spiked some 22 percent in the past year, amid rising demand …
On behalf of the entire Heritage Foundation family, I extend our heartfelt condolences to the people of Japan as they confront the aftermath of today’s massive earthquake and related tsunami. Our hearts and prayers go to the victims of this tragedy and their families. Japan is one of America’s best allies, a stalwart of democracy whose ingenious and creative people have contributed much in the fields of arts, industry and technology. I know Japan personally, having visited there many times. I have come away a great admirer of its remarkable …
America’s trade deficit rose in January. Many times an expanding trade deficit indicates an expanding economy and more American jobs. In January, this may not have been true. The single biggest factor in pushing the trade deficit higher in January was higher oil prices. Unfortunately, these may also push the trade deficit higher in February, March, and perhaps beyond. Protectionists who don’t want to let Americans freely make their own choices are already vocal in denouncing the higher trade deficit. This is actually a bit strange, since the January deficit …
In addition to the always outstanding analysis provided by Bobby Chesney and John Bellinger on the Obama administration’s new executive order on GTMO detention review, and the accompanying “Fact Sheet“, there is another fascinating feature that merits discussion. Here’s the question: by recognizing Article 75 of Additional Protocol I of the Geneva Convention (API) as customary international law, which includes in §4(g) the “right to examine, or have examined, the witnesses against him and to obtain the attendance and examination of witnesses on his behalf,” has the administration inadvertently (or …
This is part one in a debate with liberal blogger Tim Mitchell on whether income inequality is a problem. In this post I lay out why income inequality isn’t a problem. For part one from Mr. Mitchell, click here. When it comes to income inequality, the left argues that since 1979 the top ten percent of taxpayers are making an unfairly large portion of total U.S. income. This narrative is advanced by the widely accepted work of Thomas Piketty and Emanual Saez, showing that “the top 1 percent of Americans now receive …
Today an earthquake of magnitude 8.9 hit just off the northeast coast of Japan, claiming the lives of hundreds or more and severely disrupting the nation’s airports and transit systems. The earthquake generated a 10-meter tsunami that overwhelmed the cities and land in its path, leaving sheer destruction in its wake. As the world watches Japan deal with the devastation, our hearts go out to everyone touched by this disaster in Japan and across the Pacific. Reports coming from Japan say the quake caused millions of people to evacuate buildings, …
On December 21 last year, the Federal Communications Commission (FCC), led by chairman Julius Genachowski, voted 3–2 to impose “neutrality” regulations on the Internet. At the time, dissenting commissioner Robert McDowell noted that the day—quite literally—was the “darkest day of the year.” The regulatory winter, however, may prove to be a short one. Not only is Internet regulation under attack in Congress and the courts, but there are signs that Genachowski may soon take a new post at the Commerce Department, leaving his signature initiative in doubt. The latest blow …
Since the Gulf oil spill nearly a year ago, the U.S. Bureau of Ocean Energy Management, Regulation and Enforcement has issued just one deepwater drilling permit — but oil rig owners aren’t alone when it comes to permitting problems. Renewable, coal, natural gas, nuclear and transmission energy projects across the country also face delays and cancellations. What’s worse: These stalled energy projects cost the American economy both GDP and jobs, according to an economic study released Thursday by the U.S. Chamber of Commerce. The study, conducted by American Consumer Institute President …
Friday morning, a massive earthquake hit Japan and spawned a massive tsunami that is sweeping across the Pacific, requiring evacuation along the Hawaiian coast. This morning the Federal Emergency Management Agency (FEMA) issued an alert that “tsunami warnings and watches have been issued for the U.S. territories of Guam, the Commonwealth of the Northern Marianas Islands, as well as portions of coastal areas in Hawaii, Alaska, California, Oregon and Washington.” Damage and loss of life in Japan will be significant. We have to be concerned as well about the safety …
My fellow conservatives, Last November, voters sent a clear signal to Congress: cut spending and get our government in order. As we watch the current debate in Washington over how to fund the government for the rest of 2011, it is clear that some heard the voters’ message and others are flatly ignoring it. The House of Representatives took decisive action and passed a bill cutting $61 billion from the status quo. President Obama and his Senate allies insist on irresponsibly choosing to do practically nothing. Indeed, to force Americans …
