On February 8, the United States Supreme Court issued a terse order that by a five-to-four vote enjoined the Environmental Protection Agency from taking any steps to implement its Clean Power Plan. That most ambitious plan sought to impose a comprehensive long-term set of limitations on the use of coal, and indeed all energy sources, inside the United States.
I had been meaning to write a post about oil prices and the economy. Now this article in the New Yorker by James Surowiecki has beat me to it--and done it well. It's not that long and so I recommend reading it. I'll hit one highlight and then add a couple of my own thoughts.
Gloom and doom is wreaking havoc in financial and commodity markets as oil prices probe new lows. Headlines proclaim that domestic energy producers face bankruptcy, layoffs, and can’t pay back toxic loans. Meanwhile, energy-producing countries must contend with deteriorating public finances and recession.
The historians are breaking down the significance of the fourth industrial revolution. They’re talking about AI, robotics, IoT, self driving cars, 3D printing, quantum computing and whether such things really will equate to a new industrial era — the new ‘new economy’ thesis if you will.
The latest Golden State poll surveyed 1,800 voters last month. “It’s what they want their state government to be involved in for the coming year, and item #1 is dealing with the state’s water problems,” Hoover Institute Research Fellow Bill Whalen said.
“East is east and west is west, and never the twain shall meet.” Rudyard Kipling was referencing the British Empire. He might as well have been talking the divide between Washington, D.C., America’s capital, and Sacramento, the capital city of America’s nation-state.