Archive for 2023

EVERYTHING IS GOING SWIMMINGLY: Oil Is Near $100. Shale Isn’t Coming to the Rescue.

The U.S. remains an oil and gas superpower. Rystad Energy forecasts that American crude production is on track to hit a record 13 million barrels a day in September. But the industry’s recovery from the pandemic was relatively slow—it last recorded 13 million barrels a day in November 2019—and it appears that it is no longer willing to grow rapidly to meet rising demand.

Some of the recent growth came from private operators, who added rigs in response to higher oil prices last year and helped push up the national output.

But smaller companies have run out of sweet spots, forcing them to slow down. Higher costs of equipment, labor and steel in the oil patch has also reined in their activity, executives and analysts said, as has an outflow of investment from the sector.

Where did the investment dollars go?

Here: Biden’s Climate Law Is Reshaping Private Investment in the United States. “Private investment in clean energy projects like solar panels, hydrogen power and electric vehicles surged after President Biden signed an expansive climate bill into law last year, a development that shows how tax incentives and federal subsidies have helped reshape some consumer and corporate spending in the United States.”

Just not in ways that make economic sense.

KRUISER ON LAST NIGHT’S DEBATE: A Trump/Ronna McDaniel Conspiracy Theory:

Who was her most prominent supporter when she was running for a fourth term after presiding over three elections that were unmitigated disasters for the GOP?

Oh yeah, Donald Trump.

At this point, I’m beginning to think that this is all by design. Trump and McDaniel struck a deal: he’d help her reelection bid; she’d set up some of the worst debates in GOP primary history and he’d avoid them. Yes, I believe that he would be opting out even if he didn’t have a big lead in the polls.

This way, the other candidates can endure the pontificating and inane questions from the moderators, none of which will make them look good, and Trump can hit the tanning bed, unscathed.

As conspiracy theories go, this one has merit.

It’s also the only way to make sense of this debate mess without coming to the conclusion that Ronna McDaniel is just ignorant and incompetent.

OK, that theory does have merit too.

The best “conspiracy” is where you install people who’ll do what you need without being told, either through inclination or through their own nature.

LEFT WEAKENED BEFORE OUR ENEMIES? At least our pronouns are immaculate.

But there’s this:

LAST NIGHT’S DEBATE: Ed Morrissey is NOT happy. “The biggest loser of the debate was Fox Business Channel, with the RNC that arranged it a close runner-up.”

20 YEARS OF ENORMOUS GROWTH IN SPENDING PER STUDENT IN NC UNIVERSITIES. Your state’s probably not much different. And we’re running headlong into a generation of people like me whose parents could afford tuition at a place like Duke at a stretch, but who can’t themselves afford it for their kids even though their lifestyle is otherwise about the same. More bad news for goodwill towards higher ed.

UGH. WAY TO GIVE THEM MORE IDEAS. “What can you do if the government declares you dead?” Basically nothing, and you can’t sue them thanks to sovereign immunity. Expect this to start happening to Trump supporters in about 10 seconds.

THEY NEVER GIVE UP: FCC Chair Confirms Plan to Reinstate Net Neutrality Rules Eviscerated Under Trump. “Rosenworcel intends to release the full text of the proposal on Thursday and hold a vote regarding whether to kick off rulemaking on October 19. While Brendan Carr, one of the two Republican commissioners, signaled his opposition to the Title II approach on Tuesday, Gomez’s confirmation earlier this month gives Democrats a 3-2 majority at the FCC.”

Net neutrality was Barack Obama’s gift to Netflix, who then gave him a sweetheart production deal a short time after he left office.

I wonder what Joe Biden expects to get.

BIDEN’S CRISIS BY DESIGN WASN’T WITHOUT A PURPOSE:

Mission accomplished.