Capitolizing on Energy

Views on D.C. energy and politics with William O’Keefe

EPA Recycling Costly Fuel Regulations

Yogi Berra could well have envisioned EPA’s recent plan for Tier III sulfur regulations when he exclaimed “it’s déjà vu all over again.” The arguments used by EPA at a recent Congressional hearing were exactly the same as former Administrator Carol Browner used for the first round of reductions. Where is the evidence that current […]  More »

The Low Carbon Reality

Groucho Marx was not known as a shrewd political analyst but the pursuit of a low carbon economy, reminds me of his definition of politics.  “Politics is the art of looking for trouble, finding it everywhere,diagnosing it incorrectly, and applying the wrong remedies. Since the arrival of the global warming hobgoblin, politicians have been promoting […]  More »

Dems Overlook 90 More Profitable Industries, Decry Big Oil Earnings

In the midst of several major oil companies reporting their third-quarter earnings, the Democratic Senatorial Campaign Committee is leveraging those figures to launch attacks on its opponents. The strategy behind the assault entails pointing to positive corporate earnings to justify selectively levying putative tax hikes on the oil and gas industry. However, attempts to position […]  More »

Obama Energy Policy Allows China, Castro to Drill Closer to U.S. than American Firms

Origins of the phrase “inside the Beltway” stem from the relatively small 64-mile Interstate loop that encircles the Washington, D.C. metro area. If that small figure sounds familiar, it’s because it’s about the same distance between the U.S. coast line and an estimated 5 to 20 billion barrels of oil. With oil prices hovering around […]  More »

Obama Energy Tax’s Impact on Shipbuilders, Shoemakers, Steel Workers

In 2008, President Obama catapulted his way to the White House in part on his promise to “green” the economy. Three years later, the administration is still over 4 million shy of delivering on the 5 million green jobs promised, taxpayers are on the hook for the hundreds of billions of dollars loaned to now-bankrupt […]  More »

Oxford Climate Book Contradicts IPCC Findings

Though Mark Twain originally provided Rudyard Kipling with the advice to “get your facts first, and then you can distort ‘em as much as you please,” it appears as if some modern day writers have adopted the mantra. In a chapter of the newly released book entitled “The Oxford Handbook of Climate Change and Society,” […]  More »

Flawed Forecasts Trumped by Innovation and Technology

The first oil well in the United States was drilled in Titusville Pennsylvania in 1859.  In 1901, there was an oil boom in East Texas which is what most Americans recognize from movies. That boom changed our way of life by giving us unrestricted mobility. Ever since the discovery of oil, there have been predictions […]  More »

Einstein’s Theory of Relativity Defies Al Gore

In 1917, Albert Einstein plugged what he dubbed the “cosmological constant” into his equations explaining why the universe didn’t collapse under its own gravity. He later abandoned the concept, calling it his “biggest blunder.” Today, three astronomers won the Nobel prize for proving Einstein’s original theory correct. It’s no surprise that modern scientists are still […]  More »

Rising Tax Rates ‘Sink All Boats’

If Mark Twain was alive today, he surely would have been referring to President Obama when saying: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” The President’s latest stimulus plan hinges on the faulty belief that if the federal government is able […]  More »

Obama’s Deficit Plan Benefits China’s, Venezuela’s Interests

When rolling out his deficit plan this week, President Obama went on the defensive. Twice denying his new tax proposals count as class warfare, his behavior called to mind Queen Gertrude’s response to Hamlet: “The lady doth protest too much, methinks.” Of course, it’s class warfare. The White House is gunning for “millionaires,” aircraft manufacturers, […]  More »

Info-graphic: EPA’s Polluted Rule Making Process

Most presidential administrations assert that they will be guided by facts when making decisions which science can inform. At the time they’re given, those pronouncements are no doubt sincere. But in light of today’s congressional hearing on detailing “How a Broken Process Leads to Flawed Regulations,” it’s worth reviewing how such claims have withstood the […]  More »

Obama Plan’s “Pay-Fors” Would Actually Lose Tax Revenue

Two pieces from today’s Wall Street Journal opinion page make excellent points independently as well as together. Former Reagan economic advisor Arthur Laffer makes the case that government officials impose a tax on an activity or product (speeding, smoking, etc.) when they want to discourage not incentivize it: And yet contrary to common sense, it […]  More »

Details of Obama’s Jobs Plan Fail to Provide Confidence

A critique of President Obama’s new jobs plan can be summed up in a Rob Reiner-esque headline: “Clueless in Washington.” His proposals to extend the holiday on the payroll tax, reduce taxes on small businesses, provide incentives for hiring the unemployed, and provide infrastructure funding aren’t necessarily bad. Some or all may be necessary. But […]  More »

Obama Administration Repeating Energy Mistakes of 1976

President Obama’s request for another $450 billion in stimulus funds is just another example of his administration drilling an expensive dry hole while leaving potential job growth free of a taxpayer price tag on the table. Earlier this week, Woods Mackenzie analysts found that developing our country’s vast offshore oil and shale gas resources could […]  More »

Obama Not Factoring Oil Sector Employment Into Jobs Plan

Though we’re still several hours away from hearing President Obama layout his jobs plan in tonight’s speech, White House sources have leaked some key details to the press. Consequently, we already know his announcement will detail a $300 billion jobs package. Based on the advance figures, the President’s “new” plan sounds an awful lot like […]  More »