Tag: gas

Join Jim and Greg as they welcome the second amendment conversion of a New York liberal who now sees the value of a gun for self-defense and how restrictive laws don’t keep weapons away from bad guys. They also cheer the news that many environmental activists are packing up and leaving D.C. after Thursday’s Supreme Court decision on the EPA. And they sigh as President Biden tells Americans they will be stuck with high gas prices until Ukraine defeats Russia.

 

Join Jim and Greg as they’re thrilled to see a significant shift in suburban voters from the Democrats to the GOP. They also react in horror as USA Today opinion writer David Mastio not only reveals that he was forces out of a job for saying that only women could have babies but that the whole Gannett network is catering to a woke ideology that has no interest in a diversity of opinion. And they discuss the bipartisan yawning over Biden’s call for a federal gas tax suspension and the hypocrisy of lawmakers like Washington Sen. Patty Murray, who hated the idea when a Republican was president but now supports it when Biden is in office and she’s up for re-election.

Jim Geraghty is back! Join Jim and Greg as they welcome news of Asian voters souring on President Biden in big numbers. They also react to Treasury Secretary Janet Yellen and former Treasury Secretary Larry Summers differing forecasts on whether we are headed for a recession. And they shake their heads as California gets set to hike gas taxes with prices already at record highs.

Join Jim and Greg as they dissect the breaking news of a man arrested near Justice Brett Kavanaugh’s home with the intent to kill him. They also cheer as San Francisco voters overwhelmingly recall pro-criminal district attorney Chesa Boudin and Los Angeles voters advance Rick Caruso to the general election. And they shudder as the World Bank projects a very rough economy for the rest of the decade. Meanwhile, Michigan Sen. Debbie Stabenow shows how little she cares about soaring gas prices.

Join Jim and Greg as they applaud the GOP’s ingenious new strategy to register angry voters at the gas pump ahead of the upcoming midterms. They rebuke Illinois Rep. Adam Kinzinger for his preachy and illogical call for Israel to do more for Ukraine. And despite nobody inviting him, Dr. Anthony Fauci returns to warn that mandates and other measures may need to return if COVID numbers begin to climb again.

 

Mark explores the role of robots and artificial intelligence in boosting the supply of (cheaper) oil and gas critical to economies. He is joined by two leading “imagineers” who are inventing the future: Nic Radford, founder and CEO of Nauticus Robotics, and Jon Ludwig, founder and President of Novi Labs.

Join Jim and Greg as they break down the economic, military, and political consequences of the Biden administration’s suspension of Russian oil imports. They also discuss the NFL suspending Atlanta Falcons wide receiver Calvin Ridley for gambling but also note how the NFL and other leagues have enthusiastically embraced the recent expansion of sports gaming.  And they weigh in on a new Quinnipiac poll showing that Republicans are far more likely than Democrats to defend their nation from an invasion.

Join Jim and Greg as they salute Virginia Gov. Glenn Youngkin’s decisive victory over forced masking in schools. They also highlight former Obama advisor Steve Rattner admitting that too much COVID stimulus is a big reason for the current inflation crisis. And Prime Minister Justin Trudeau groups a Jewish member of the Canadian Parliament with Nazis while Minnesota Rep. Ilhan Omar slams reporters for tracking down donors to the Freedom Convoy.

Happy New Year! Join Jim and Greg as they are pleasantly stunned to see the European Union embracing natural gas and nuclear power as their wind and solar energy efforts fall far short of producing the amount of energy needed. They also slam Senate Majority Leader Chuck Schumer’s latest effort to skirt the filibuster to pass Dem legislation on elections. And they hammer teachers unions for once again leading the charge to return to distance learning or just “pause” schools for two weeks to weather the Omicron cases of COVID.

Witch Hunt Targets the Oil Companies

 

President Biden has issued firm instructions to FTC Chair Lina Khan to investigate whether big oil should be held legally accountable for the recent runup in oil prices. The fact of some price increase seems beyond dispute. The average monthly Brent crude price dropped as low as $18.38 in April 2020, at the onset of the COVID crisis, but had risen to $83.54 in October 2020. But look just a little bit further and matters are not so simple, for by November 19, 2021, that price had dropped to $78.60. Indeed, this nineteen-month period witnessed wide fluctuations in price. Nonetheless, without referring to any price data, Biden broadly claimed that the “mounting evidence of anti-consumer behavior by oil and gas companies” should trigger an investigation into potential collusive behavior.

Given that “gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining,” such alleged behavior, Biden assumes, has allowed big oil companies to double their profits since 2019, thereby allowing for stock buybacks and dividends in the coming year. “Hard-working Americans”—a tried and true appeal to populist instincts—should not be “paying more for gas because of anti-competitive or otherwise potentially illegal conduct,” he said, which is why he has urged the FTC to bring “tools to bear” to ferret out and punish any possible wrongdoing.

It should be apparent that it does not take much in Biden’s eyes to instigate a lengthy and hostile investigation. Rising profits are no antitrust violation when they generate dividends, many of which end up in the pension funds of those hard-working Americans. And buybacks and dividends free up capital for either consumption or further investment. Unfortunately, in Lina Khan’s new age of antitrust enforcement, it appears unnecessary to allege anything that would make the price-fixing claim credible, for just how are the oil companies able to conspire to keep prices artificially high? OPEC finds that task difficult even with its formal agreements and enforcement powers. But the number of potential participants for any effective covert oil and gas price-fixing scheme must be few in order to deter individual companies from deviating from the cartel price by offering hidden concessions to its preferred customers. That does not seem possible when the roster of the ten largest oil companies reads as follows:

Join Jim and Greg as they serve up three bad but important martinis today. First, they roll their eyes as the Biden administration suddenly blames energy companies for high gas prices and suggests the Congressional Budget Office cannot be trusted if it gives the reconciliation plan a bad score. And they shudder as a a former high-ranking Chinese tennis player disappears after accusing a top government official of raping her. And the latest evidence, supposedly suggesting she is alive and well, actually makes us think exactly the opposite.

 

Daniel Yergin, vice chairman of IHS Markit and Pulitzer Prize winning author of The New Map: Energy, Climate and the Clash of Nations, joins “Plugged In” hosts Josh Siegel and Neil Chatterjee to discuss the energy crisis occurring in Europe and Asia and how that should inform discussions at the U.N. climate summit in Glasgow.

 

Join Jim and Greg as they dissect three lousy reports that highlight deeply flawed Biden administration policies, from huge numbers of people coming to the border, to a record number of available jobs that aren’t being filled, to very disturbing inflation numbers. And each of these of these problems was easily foreseeable.

Jim and Greg discuss Glenn Youngkin winning the GOP nomination for governor in Virginia and whether the GOP can still win there. They also react to gas stations along the east coast running out of fuel due to the Colonial Pipeline shutdown and the weak response from the White House. And they throw up their hands as the New York Times points out what many knew intuitively – that outdoor transmission of COVID is extremely unlikely. So was the CDC very wrong or hiding the truth?

Join Jim and Greg as they cheer Texas lawmakers or advancing legislation on several key conservative priorities. They also discuss the cyber attack that shut down a key fuel pipeline to the eastern U.S. They break down the latest scandal engulfing New York Gov. Andrew Cuomo. And they remember the wit and conservative wisdom of the late Pete du Pont.

Deep (Freeze) in the Heart of Texas

 

The recent dramatic events in Texas are an early warning sign of the disasters that are likely to occur if the Biden administration continues its relentless effort to demonize the use of fossil fuels in the effort to combat climate change.

Assessing whether the climate is really changing requires looking at two numbers. The first is mean global temperatures across time. While that figure is increasing overall, it shows a complex up-down pattern that cannot be explained solely by the steady increase in carbon dioxide emissions. The higher the mean temperatures, the worse the supposed problem.

The second measure, though often neglected, is every bit as important: the variance in temperatures, whether measured in days, seasons, or years. A lower variance over a relevant time period means less stress on the power grid and other systems, even when the mean temperature increases. The general trend is that the variance in the temperature has gone down over time. Even today, for example, a large fraction of the record high temperatures in the United States took place in the 1930s—when carbon dioxide levels were far lower than they are today—with only three record highs after 2000.

Biden Goes Deep Green

 

It is amazing the difference that four years can make in environmental policy. On January 24, 2017, at the outset of his presidency, Donald Trump issued an executive order that salvaged the Dakota Access Pipeline (DAPL) from the Obama administration’s planned obstructionism. Obama had sought to upset the string of administrative approvals that the project obtained at both the federal and state levels. DAPL runs about 1,100 miles from the Bakken and Three Forks oil fields in North Dakota to Patoka, Illinois, where it is able to carry, far below ground, about 500,000 barrels of crude oil per day. Trump’s action allowed Congress to vote on whether to grant the last federal easement needed for the pipeline to proceed.

DAPL is now in service, even as litigation to shut it down continues. Environmental groups continue to allege attenuated theories of adverse effects under the National Environmental Policy Act (NEPA). Their efforts are consistent with the common practice among environmentalists of paying inordinate attention to highly remote contingencies while completely ignoring the large and immediate safety and efficiency advantages of getting crude oil to both domestic and foreign markets via DAPL. More concretely, the chances that any crude oil shipped by DAPL will escape in sufficient quantities to damage the fishing or water rights of the Standing Rock Sioux have always been infinitesimal, which is why the pipeline operations have caused no such harm for the past three years. The overall soundness of the pipeline grid will become truly dire if DAPL is shut down while Keystone is left incomplete.

For the moment, however, the immediate threat is to the Keystone pipeline. On January 20, President Biden issued an executive order aimed at “Restoring Science to Tackle the Climate Crisis.” One component of his major order was to revoke the permit for the Keystone XL pipeline. The pipeline started some twelve years ago, but since that time it has been beset with legal challenges, including one in May 2020 in which a Montana judge yanked the pipeline’s permit on the grounds that the Army Corps of Engineers had not consulted sufficiently with the US Fish and Wildlife Service on the alleged risks that the pipeline posed to endangered species and their habitat. Such orders overlook the benefits from that pipeline, which include its ability to ship up to 830,000 barrels per day of crude oil from the Alberta sands to American refineries along the Gulf Coast.

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U.S. Ambassador to Germany Richard Grenell on Iran Sanctions Snapback, America’s Energy Competition with Russia in the EU, Chancellor Merkel U.S. Ambassador to Germany Richard Grenell occupies one of the most critical positions in American diplomacy, not only because Germany represents the EU’s largest economy and has disproportionate influence on the continent, but because of […]

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Cheap gas. That, along with great pizza and bagels, was always one of the benefits of living in New Jersey. Even though there is no self-service gas in NJ, the price per gallon was still less than what I would see in any other state I drove through. Until the end of 2016, that is. […]

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I’d like to bring up the topic of infrastructure. President Trump, of course, beat me to it last year. He talked about the sad state of American infrastructure, how our roads, bridges and related facilities are in a sorry state, and how it’ll take over a tril to fix ’em. There have been a few […]

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