
 |
|
February 13, 2012
Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away
Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
|
| |
Jewish World Review
June 19, 2008
/ 16 Sivan 5768
McCain's talk of sharing oil profits should disturb voters
By
E. Thomas McClanahan
http://www.JewishWorldReview.com |
During his long career, Sen. John McCain has found all sorts of ways to drive Republicans nuts. He did it again the other day with a couple of pratfalls on NBC's "Today Show."
First he said he didn't think fuel prices would be coming down between now and the November election. Fair enough, but he added that the reason was that "you've got a finite supply (of oil), basically, and a cartel controlling it."
Then came some weird musings on oil companies, and how they should "absolutely" share some of their profits with consumers.
"The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is a very strong and justifiable emotion about their profits," he said.
Oh, my.
Exactly what did he mean by sharing? How would such a thing be accomplished - through some government program? And his remark about "justifiable" emotions caused by profits is pretty revealing, and not the sort of thing likely to endear himself to economic conservatives.
In times of scarcity, you want the providers of essential commodities to make hefty profits. It draws in more potential suppliers. How else does he expect the problem to be corrected?
McCain's record on allowing more drilling for oil is spotty at best. You'd think that at some point in his mental wanderings he'd be more aggressive in pressing for additional domestic drilling, such as on the outer continental shelf, with reserves of up to 85 billion barrels of oil. He has opposed drilling in the Arctic National Wildlife Refuge.
Which brings us to his remark about "finite" oil supplies.
Natural resource accounting can seem confusing at first. That's because it's entirely possible to keep using stuff without running out, while ending up with more than when you started. What matters is the amount of effective stocks, or reserves, of whatever resource you're talking about.
Technological advances can both improve our ability to get more of a given resource and improve the efficiency of how it's used. Examples: deeper drilling for oil, and better gas mileage in cars. Technology can boost how much a resource contributes to economic growth, a factor called "output contribution."
As the Fortune Encyclopedia of Economics notes, if a scientific breakthrough boosts the output contribution of a resource greater than the amount that is used in a year, then "in terms of human economic welfare, the stock of that resource will be larger at the end of the year than at the beginning."
Even though the absolute quantity may decline, the resource "need never be exhausted completely, and its effective quantity can rise for the indefinite future."
In 1950 world aluminum reserves were computed at 1.4 billion metric tons. Over the next 30 years, 1.3 billion metric tons were produced. So, we nearly ran out of aluminum, right? Wrong. In 1980, world aluminum reserves were computed at 5.2 billion.
So resigning ourselves to "finite" oil supplies is defeatist.
Yes, by all means continue the effort to discover alternative energy sources, but in the here and now, with the American people facing the ratcheting tax of higher fuel prices, supply matters. McCain is doing little to promote efforts to boost supply.
Rather, he's given aid and comfort to those who would blame the oil companies for our problems and seek to tax their "excess" profits - a proposal that would only worsen our supply problem by penalizing companies for delivering what we need: oil.
This is going to be an interesting election, because each candidate is likely to spend a certain amount of time in the doghouse with his political base.
Barack Obama will try to tack to the center, and in doing so he will anger the hard left. For example, he recently named Jason Furman, a centrist, as his top economic adviser. That drew a blast from activists and union leaders, who see Furman as too much a fan of globalization.
McCain will anger his base because he's McCain. He simply can't help himself. He's the better choice on economic policy generally: He favors lower taxes, less government spending and free trade. But I wonder: How many Republicans already lukewarm toward McCain went cold on hearing his lefty rhetoric about "sharing" profits?
Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
E. Thomas McClanahan is a member of the Kansas City Star editorial board. Comment by clicking here.
Archives
© 2008, The Kansas City Star. Distributed by Knight Ridder/Tribune Information Services
|
|

Arnold Ahlert
Mitch Albom
Jay Ambrose
Michael Barone
Barrywood
Tony Blankley
Lori Borgman
Stratfor Briefing
Mona Charen
Linda Chavez
Richard Z. Chesnoff
Ann Coulter
Greg Crosby
Alan Douglas
Larry Elder
Suzanne Fields
Frank J. Gaffney
Bernie Goldberg
Jonah Goldberg
Julia Gorin
Jonathan Gurwitz
Paul Greenberg
Argus Hamilton
Victor Davis Hanson
Betsy Hart
Ron Hart
Nat Hentoff
Marybeth Hicks
David Horowitz
Jeff Jacoby
Renee James
Paul Johnson
Jack Kelly
Ed Koch
Ch. Krauthammer
Michael Ledeen
John Leo
David Limbaugh
Kathryn Lopez
Rich Lowry
Michelle Malkin
Jackie Mason
Ann McFeatters
Dale McFeatters
Dana Milbank
Jeanne Moos
Dick Morris
Jim Mullen
Deroy Murdock
Judge A. Napolitano
Bill O'Reilly
Kathleen Parker
Star Parker
Dennis Prager
Wesley Pruden
Tom Purcell
Sharon Randall
Robert Robb
Cokie & Steve Roberts
Heather Robinson
Pat Sajak
Debra J. Saunders
Martin Schram
Culture Shlock
David Shribman
Roger Simon
Michael Smerconish
Thomas Sowell
Ben Stein
Mark Steyn
John Stossel
Cal Thomas
Dan Thomasson
Bob Tyrrell
Ben Wattenberg
Diana West
Dave Weinbaum
George Will
Walter Williams
Byron York
ZeitGeist
Mort Zuckerman

Robert Arial
Chuck Asay
Baloo
Chip Bok
Dry Bones
Lisa Benson
John Branch
John Cole
J. D. Crowe
John Deering
Brian Duffy
Everything's Relative
Mallard Fillmore
Glenn Foden
Jake Fuller
Bob Gorrel
Joe Heller
David Hitch
Jerry Holbert
Lee Judge
Steve Kelley
Jeff Koterba
Dick Locher
Jimmy Margulies
Rick McKee
Michael Ramirez
Kevin Siers
Jeff Stahler
Ed Stein
Danna Summers
John Trever
Gary Varvel
Kirk Walters

Mr. Know-It-All
Dr. Peter Gott
GET A JOB! by Marty Nemko
Richard Lederer
Frugal Living
Tech Maven
On Nutrition
Bookmark These
Bruce Williams
|