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Murphy vs. Masters, Part Deux?

Masters Capital Management is back to their ways, picking on the hapless speculators. Does your heart go out to them, as does mine? I still have to read their new report, but I am skeptical. In the meantime, on page 15 here (pdf) you can see the Sept. 5 issue of the Sacramento Union where […]

Don’t Tax the Poor Oil Companies!

I’ve been lightly blogging lately because the Bat Signal flashed and I had to fly to DC to participate in a Hill briefing. IER has just released a new study gauging the possible impacts of repealing the Section 199 tax deduction on major oil and gas companies. (This is part of the “revenue offsets”–I think […]

CBO Releases New Deficit Forecast

On Tuesday the Congressional Budget Office (CBO) released its revised projections of the federal budget; check out this summary table (pdf). Highlights: * The estimated deficit for the fiscal year ending September 30 is $407 billion. * Under the baseline assumptions, the projected deficit for the fiscal year running from October 1, 2008 through September […]

Pickens Plan Too Cotton-Pickin Expensive

Below is a back-of-the-envelope calculation of the upfront cost of the Pickens Plan. To demonstrate that it is outrageously expensive, even on its own terms, I show how much cheaper it would be for the government to expand the Strategic Petroleum Reserve in order to provide comparable protection from foreign surprises. It should go without […]

Working Paper on Market Responses to Climate Change

Here is my working paper (pdf) on a a framework for understanding how a truly free market (the world over) would deal with dangerous global warming, if the IPCC consensus turns out to be right and humans really are responsible. This is an extension to my earlier op ed claim that cap & trade is […]

If You Support Offshore Drilling…

…then you might want to let the Mineral Management Service know. They are taking public comments on the issue up through September 15. Naturally, IER has made it easy for you to get your message across; just click here. I don’t know whether a large public outcry would make a difference. I can say with […]

Free Market Bush Administration Nationalizes Mortgage Market

When I taught at Hillsdale College, I heard one of my colleagues (whose office was right next to mine, and our doors were open) listening to a student ask if he could take the class final early, because he wanted to go participate in a rally for newly-reelected President Bush. My colleague wearily asked, “Why […]

The Bible Says Children Are an Investment

My mother-in-law gave me The Bible Promise Book, and I came across the following intriguing verse under the topic of “Children”: 3 Sons are a heritage from the LORD, children a reward from him. 4 Like arrows in the hands of a warrior are sons born in one’s youth. 5 Blessed is the man whose […]