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Professor Mark J. Perry's Blog for Economics and Finance
Thursday, June 12, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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4 Comments:
We all make fun of politicians, but we get pretty much what we ask for.
I could probably win a union election on a platform of taxing oil companies or lowering the price of gasoline. Maybe throw in a “get rid of all foreigners in America” slogan for a landslide win. Sure, that’s completely ridiculous, but it is reality. When emotions get involved, facts have a way of flying out the window.
If you were a political strategist, how would you advise your client who wants to win an election?
Aside from having socialized oil drilling and extraction just how exactly is drilling in ANWR supposed to lower energy costs?
Which company working to get the highest return for it's owners or shareholders is going to sell oil to the U.S. for less than they can get selling to say China?
After all it isn't like ANWR could suddenly flood the world market with surplus oil. Even if it were possible to flood the world market with OUR oil we would also be lowering the cost of oil for the rest of the world. We are so nice!
"just how exactly is drilling in ANWR supposed to lower energy costs?"
One possibility is that it would reduce our balance of trade problem and conceivably strengthen the dollar. A stronger dollar would reduce oil prices.
It's not just Anwar either - it's other areas as well. I suspect the Democrats' unwillingness to drill is really a stealth anti-global warming policy. The rapid rise in oil prices due to market conditions, conveniently gets these politicians off the hook from having to implement an externalities tax. Obviously such a tax would get a lot of these bozos voted out of office fairly efficiently.
"Aside from having socialized oil drilling and extraction just how exactly is drilling in ANWR supposed to lower energy costs?"...
Hmmm, does the law of supply & demand ring any bells for you?
BTW its NOT just ANWR either...
N.D. study estimates 167 billion barrels of oil in Bakken
"We all make fun of politicians, but we get pretty much what we ask for"...
Copy that walt g...
Here's as witless and factless a whine as can be had: Bush Republican Energy Bill Helps Big Oil, Not Consumers
From Dave @ Political Junction: Energy, the issue du jour, had Senator Harry Reid sulking in front of the microphones. This Democratic congressional specimen was seen sagging at the knees and weeping bitterly because those nasty Republicans blocked his efforts to raise the taxes on gasoline to reduce its cost.
Good old Harry is not mathematically challenged. Nor is he stupid. He is a socialist who got carried away. Harry and his comrades truly believe that it is better to starve the US economy and a few million families, than to lose the momentum of their big government crusade
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