Whatever his other qualities, outgoing White House Chief of Staff Bill Daley seemed to understand that punitive environmental policies entail tradeoffs. When one environmentalist explained the health risks of increased air pollutants, Daley asked, rhetorically, “What are the health impacts of unemployment?” That sense that the economic damage wrought by environmental regulation must not be ignored has been sorely missing from the president’s economic policies (though Daley reportedly tempered the president’s knee-jerk regulatory agenda). With him gone, the president is reverting to his old “have your cake and eat it …
Youngstown, Ohio, had a rockin’ New Year’s Eve, but not the kind it hoped for—a 4.0 magnitude earthquake shook the city just one week after a 2.7 magnitude earthquake hit. Fortunately, there was no significant damage or injuries; the focus has primarily been on the cause of the earthquake. Although no definitive connection has been made, seismologists are pointing to oil and gas activity as a likely culprit; consequently, Ohio state officials indefinitely closed five wells used to store wastewater from natural gas drilling. D&L Energy, the owners of the …
“We need the energy, we need the jobs, and it can be done in a safe way.” That was former Obama administration official Steve Rattner’s take on the would-be windfalls of the Keystone XL pipeline. “My instinct is [Obama] should approve it,” Rattner told a panel on MSNBC’s Morning Joe on Thursday. Rattner was the administration’s “Car Czar,” appointed to oversee the bailout of General Motors and the ensuing restructuring agreement. Jobs, energy, and safety are all laudatory goals, and Keystone meets all three, as Heritage’s Nick Loris has pointed …
Americans started the week with a rude awakening — crude oil prices are up $3.80, or 3.8 percent, to $102.63 per barrel in New York today, according to the Associated Press. But despite the jump in oil prices, President Barack Obama is still sitting on his hands when it comes to exploring domestic energy resources. The AP reports on the higher oil prices: Prices climbed as soon as exchanges opened for the first day of 2012 trading. Commodity prices tend to rise at the beginning of January as investors start …
Before he became president of MF Global, the bankrupt brokerage firm that lost $1.2 billion in client money, Bradley Abelow spent time as New Jersey’s treasurer and former Gov. Jon Corzine’s chief of staff. In those roles, Abelow served alongside Lisa Jackson, who led the state environmental protection department and eventually succeeded Abelow as Corzine’s chief of staff. Jackson now directs the Environmental Protection Agency in the Obama administration, and Abelow, despite a full-time job at MF Global, is still serving alongside her. The former Goldman Sachs executive holds the title …
The plastic bag police scored a victory in Seattle this week. The liberal enclave imposed a ban on plastic bags and a 5-cent tax on paper bags, joining other major cities in the latest nanny-state crackdown sweeping the nation. Seattle’s ban applies to all grocery, retail and convenience stores. It exempts farmers’ markets, however. The ordinance takes effect in July 2012. Seattle’s action comes three years after the City Council tried to impose a 20-cent tax on all bags. That idea was shot down by voters in a referendum. It’s …
When it comes to creating jobs, North Dakota has found the right formula. The state has the largest percentage increase in employment over the past year and was the fastest of all 50 to recover from the recession. The reason is simple: energy production. “North Dakota has been the poster child for what can happen when we unleash free enterprise and allow states to develop and commercialize their resources,” Heritage’s Nick Loris wrote recently on The Foundry. “North Dakota is drilling at record pace.” The state’s unemployment rate is 3.4 …
The Environmental Protection Agency (EPA) is on a mission to further unilaterally expand its already vast regulatory powers in the name of “sustainable development.” Congress should take action to rein in the agency before it’s too late. An EPA-requested report issued in August by the National Research Council (NRC), a private nonprofit, lays out “an operational framework for integrating sustainability as one of the key drivers within the regulatory responsibilities of EPA.” The NRC and the EPA held a meeting on the report just last week. The exact meaning of …
The EPA’s analysis of the new mercury rule (the Utility Maximum Achievable Control Technology, or Utility MACT) is yet another example of regulatory bait-and-switch. The rule refers to mercury but really targets CO2, and it generates its purported benefits from reducing particulates that are already covered by other regulations. For an excellent and revealing analysis of the EPA calculations, see Anne E. Smith’s technical comments. The EPA claims this rule would produce $53 billion to $140 billion in annual benefits, but at most $6 million of the benefits come from …
Americans hitting the road this week are likely to encounter the highest-ever price for gas at Christmas in history. According to figures from AAA, the nationwide average for regular unleaded is $3.21 per gallon — an increase of 23 cents over last year’s Christmas record. This marks the second straight year Americans are paying more at the pump during the holidays. The price in 2009 was around $2.60 per gallon and jumped to about $3 per gallon at Christmas last year. These higher prices aren’t grabbing headlines as they once …
