CATO’s Chris Edwards writes: There is much talk of a second economic “stimulus” bill that would send tens of billions of added federal tax dollars to state governments for infrastructure. Senator Obama recently promised “to put two million more Americans to work, rebuilding our crumbling roads and schools and bridges.” Is America’s infrastructure really crumbling? Many highways are congested, but at least on the East Coast where I travel, states seem to be continually adding capacity. With schools, the pattern I see is governments building large new structures and knocking …
Twenty-five percent of America’s oil production and a significant amount of onshore refining capacity and pipeline infrastructure is located in the hurricane-prone central and western Gulf of Mexico — and much of it was in the path of Hurricane Gustav. Fortunately, unlike Katrina and Rita in 2005 and other past hurricanes, Gustav has not done significant damage to the energy infrastructure there. Prices and markets will be relatively unaffected. Nonetheless, the hurricane does underscore the benefits of geographic diversification in domestic oil production. The Atlantic, Pacific, and eastern Gulf of …
Last week, the federal government indicated it was reconsidering a $900 million grant to fund a massive expansion of the Washington Metro. Today, the Washington Post reports that a funding solution may be in sight: private investors may help the rail extension project meet its funding needs. As reported previously on The Foundry, the publicly-run Metro subway and bus system already faces a number of problems. On-time service has declined and costs are soaring out of control, prompting the largest fare hike in its history this month and raising questions …
