The Wall Street Journal reports: “The global oil industry, far from chastened by the catastrophic spill in the U.S. Gulf of Mexico, is planning record spending next year, including a large amount for deep-water development. … Barclays estimates spending on new wells, producing platforms and other energy infrastructure will total $490 billion next year, up 11% from 2010. The figure is based on a survey of 402 companies. In part, the planned spending increases reflect the higher costs for finding and extracting oil in harder-to-access areas.” And where are these …
On Monday, we brought you the Top Ten Heritage Charts of 2010. Yesterday, we featured the Top Ten Heritage Papers of 2010. Continuing our Top Ten of 2010 series, today, we rank the year’s Top Ten Morning Bells. Once again, all posts are ranked by pageviews with the 10th most popular post on top, and the most popular post at the bottom. 10. White House Admits Obamacare’s Individual Mandate is a Tax 9. Welcome to the Obama Dependency Economy 8. Surviving the Obama Assault on the Rule of Law 7. …
One of the repeating story lines the lamestream media is looking to advance for the 112th Congress is the fictional contradiction between Tea Party small government convictions and the necessity of big government intervention to cause economic growth. Today’s contribution comes from Politico’s Darius Dixon who asks, “Can the tea party go nuclear?” The premise of the piece is that conservative plans to jump start nuclear power plant construction conflict with Tea Party plans to shrink the size and role of the federal government since today’s nuclear power industry is …
With all the talk about forcing people to buy health insurance, health insurance exchanges, and high-risk pools, it is often forgotten that most of what Obamacare really is, is just a massive expansion of an existing and already failing entitlement program. Of the 34 million Americans who gain health insurance through Obamacare, over half (18 million) will receive it through Medicaid. In its current form, Medicaid is already bankrupting states across the country. Obamacare only further overloads this already broken system by expanding Medicaid eligibility to include all Americans under …
In 1986, there were 2.7 million illegal immigrants inside the United States. They were granted a one-time amnesty. Illegal immigration crisis solved? Hardly. More than twenty years later there were around 12 million illegal immigrants in the U.S. How does the left want to solve this problem? More amnesty. This would work about as well as it did the last time. Since the recession began, the number of illegal immigrants in the U.S. has actually fallen, thus proving amnesty-or-deportation is a false choice. Illegal immigrants can, and do, choose to …
The spending pace of President Barack Obama and the 111th Congress simply cannot be sustained. There will either have to be spending cuts or higher taxes. The left prefers higher taxes, including the imposition of a value-added tax (VAT). How would a VAT work. Heritage scholar Curtis Dubay explains: The VAT is a consumption tax that taxes the value added by businesses at each point in the production chain. It can apply to both manufactured goods and services. This contrasts with the more familiar income tax, which taxes salaries, wages, …
In August 2005, The New York Times Magazine published an article titled “The Breaking Point” in which Council on Foreign Relations member Matthew Simmons predicted that oil, then about $65 a barrel, would more than triple in price by 2010. New York Times journalist John Tierney read the article, called Simmons up, and eventually bet Simmons $5,000 that the average price of oil over the course of 2010 would be at least $200 a barrel in 2005 dollars. As of January 1st, Tierney will have won. Yesterday, he explained why …
Yesterday, we posted the Top Ten Heritage Charts of 2010. Today we bring you the Top Ten Heritage Papers of 2010. This list combines all non-multimedia publications including WebMemos, Backgrounders, Center for Data Analysis Reports, Legal Memorandums, and White Papers. The papers are sorted by pageviews with the 10th most popular paper on top, and the most popular paper at the bottom. 10. Why is America Exceptional? 9. Why Government Spending Does Not Stimulate Economic Growth: Answering the Critics 8. EMP Attacks—What the U.S. Must Do Now 7. Senator Dodd’s …
Hamtramck, Michigan, is running out of money. City Manager William Cooper tells The New York Times: “We can make it until March 1—maybe.” And Hamtramck is not alone. According to the Times, 15 municipalities have pursued bankruptcy in the past two years. And if the economy does not improve revenues, many other local governments will be in the same boat. Many of these cities, like Hamtramck, have already cut spending on parks, senior centers, and road maintenance. But there is one area they can’t cut: salaries, benefits, and pensions of …
As 2010 draws to a close, The Foundry will be posting a series of Top Ten lists highlighting some of The Heritage Foundation’s most influential work. The Top Ten Heritage Charts are below, sorted by pageviews with the 10th most popular chart on top, and the most popular chart at the bottom. Turns out the most popular chart of 2010 is the same as the 2009 (with updated info) most popular chart. If we left out your favorite, let us know in the comments. 10. Recent Spending Hikes Are Not …
