Friday, June 24, 2011

Ultra Premium Irony.

Yesterday the United States Government announced the release of 30M barrels of oil from the SPR to help ameliorate the effects of rising oil prices on economic recovery. We note, however, the effect of the Gulf drilling moratorium and glacial rate of new drilling permitting imposed by the Administration has been to reduce domestic oil production by 240K barrels per day, or nearly 90M barrels over the last year. And then there is the knock-on effect of lost jobs in the Gulf region. The White House can't be as clownish on this as they appear...can they?

Sunday, June 19, 2011

The Closing of the Krugman Mind.

PK recently commented on his reading tastes in politics and economics. He finds nothing on the web from a conservative point-of-view that is worth reading regularly. Nothing. One can only hope that he no longer teaches students.