Greetings, and welcome to another Friday LinkSwarm! The Biden economy kicks in, China behaves badly (again), and rock stars are fed up with woke. Let’s lead off with this weird photo people have been taking about all week:
How did you make the Carters look like tiny puppets?
Puppet people aside, what better image for the week in which Biden seems to be bringing stagflation back?
If you were wondering when the Trump boom would end and the Biden bust begin, it just did:
U.S. job growth for the month of April fell far below what experts had predicted, as data reported Friday showed an increase of 266,000 jobs, versus an estimate of 1 million — the largest miss relative to expectations since at least 1998.
Economists had suggested a positive outlook for the report, with the White House hoping for a gain of at least 700,000 jobs — making Joe Biden the first president ever to hit 2 million new jobs in his first 100 days. But expectations came crashing back to reality with data showing an overestimation of nearly 800,000 — the worst miss in decades.
The U.S. unemployment rate rose slightly from 6.0 percent to 6.1. March’s payroll gains were also revised downward by nearly 150,000 jobs, from an initial print of 916,000 to 770,000. Labor force participation rate rose slightly, to 61.7 percent.
Huh, irresponsible tax-and-spend policies, rampant inflation and paying people not to work evidently aren’t a recipe for economic success. Who knew?
Speaking of inflation, it looks like it’s back, baby! Rising metal, oil, and ag commodity prices all point to inflation. “Wood prices are at an all-time high at over $1,370 per 1,000 board feet.”
Biden Secretary of Energy Jennifer Granholm owns stock in “Proterra, an electric vehicle company that is being actively promoted by the Biden administration. Further, Granholm being the Secretary of Energy means she gets to make regulations that can directly enrich herself.” (Hat tip: Director Blue.)
Joe Biden said today, “Most people don’t know: you walk into a store and you buy a gun, but you go to a gun show you can buy whatever you want and no background check.”
This isn’t even close to being true. In fact, gun shows are subject to the same rules as apply everywhere else, which are that:
commercial transfers require federal background checks, but that
private transfers only require federal background checks if they are conducted within one of the thirteen states that superintend non-commercial firearms transactions
There are no special rules for gun shows. The same set of laws applies to them as applies to, say, your kitchen table: If you are in the business of selling guns, you are federally obliged to run a check. If you are not, you are not — unless your state requires you to. That’s it. There’s no “loophole” here, and nothing about gun shows that separates them from the broader debate about private sales.
A new poll from ABC and the Washington Post published on Wednesday found a significant drop in support for new gun-control laws, especially among young people.
The number of Americans supporting enacting new gun laws over protecting gun rights fell from 57 percent to 50 percent, a seven-point drop from when the poll was last conducted in 2018. The number of Americans favoring gun rights jumped from 34 to 43 percent, a nine-point jump. The difference between the two positions narrowed by 16 points overall.
The sharpest decline in support for new gun-control measures came among 18 to 29-year-olds and Hispanics. Both groups saw a 20 percent drop. Rural Americans and strong conservatives saw a 17-point drop.
Worker shortage is so acute that a Tampa MacDonald’s is paying people $50 just to interview for a job. “Some 17 million Americans remain on jobless benefits. Perhaps many of these people want jobs but are getting paid more to sit on the couch.”
How Michael Dell used several financial maneuvers to turn $3.6 billion into more than $50 billion.
The Who’s frontman Roger Daltry says that the woke are ruining the world. “It’s terrifying, the miserable world they’re going to create for themselves. I mean, anyone who’s lived a life and you see what they’re doing, you just know that it’s a route to nowhere.”
And Daltry wasn’t the only rock star calling BS on the woke. Also taking aim: punk rock icon John Lydon:
Johnny Rotten blames ‘wokeness’ for US ‘collapse’
Sex Pistols’ frontman Johnny Lydon had some rotten things to say about “wokeness.”
In a recent profile with the Times UK, the aging punk rocker decried “cancel culture” and the activists who campaigned to tear down national monuments which they say promote historical racism. The statues include that of Winston Churchill, one of the UK’s most revered prime ministers.
He also blamed academia as well as the media for giving “the space” to “tempestuous spoilt children.”…
Addressing calls to tear down Churchill’s statue in London, Lydon dismissed criticism that the wartime prime minister was racist. However, critics point out that the leader once referred to Indians as “the beastliest people in the world next to Germans,” and thought that black people are “[not] as capable or as efficient as white people.”
“This man saved Britain,” Lydon asserted. “Whatever he got up to in South Africa or India beforehand is utterly irrelevant to the major issue in hand.”
If there are any bigger haters in history than today’s cancel culture, Lydon conceded, it’s the Nazis — and Churchill took care of that.
Florida “whistleblower” Rebekah Jones is a big fat liar. “NPR describes Jones as a ‘top scientist’ leading Florida’s pandemic response. In fact, Jones has held three jobs in her field; all three have ended in her being terminated and criminally charged.”
Just when I thought that America couldn’t possibly get any softer, people start suggesting that there’s a role for the police in preventing knife murders. The snowflake generation strikes once again.
Is there any tradition that the radicals won’t ruin? As the brilliant Bree Newsome pointed out on Twitter, “Teenagers have been having fights including fights involving knives for eons.” And now people are calling the cops on them? I ask: Is this a self-governing country or not? When Newsome says, “We do not need police to address these situations by showing up to the scene & using a weapon,” she may be expressing a view that is unfashionable these days. But she’s right.
Disappointingly, my colleague Phil Klein has felt compelled to join the critics. In a post published yesterday, Phil asked in a sarcastic tone whether the police should “somehow treat teenage knife fights as they would harmless roughhousing and simply ignore it.” My answer to this is: Yes, that’s exactly what they should do — yes, even if they are explicitly called to the scene. I don’t know where Phil grew up, but where I spent my childhood, Fridays were idyllic: We’d play some football, try a little Super Mario Bros, have a quick knife fight, and then fire up some frozen pizza before bed. And now law enforcement is getting involved? This is political correctness gone mad.
It’s hypocrisy, too. Who among us hasn’t come within a second or two of murdering someone else with a steak knife? My best friend in school, Bobby “The Blade” Simpson, used to throw shivs at the smaller kids in the music room. Did we need the authorities to step in when that happened? No, we did not. As MSNBC’s Joy Reid argued smartly on her show last night, pranks such as these were dealt with by our teachers — just as we all expected they would be. And if something went wrong? Well, that’s why we had substitutes.
In all honesty, I worry that this sort of helicopter policing is making us weak. Back in my day, the people who survived a good stabbing came out stronger for it. I learned a lot of lessons from my time in the ring: self-reliance, how to overcome fear, the importance of agility, the basics of military field dressing. And, given the turnover, I also learned how to make new friends.
Sad news (and possibly foul play). “University of Texas linebacker Jake Ehlinger, the younger brother of former Longhorns quarterback Sam Ehlinger, was found dead Thursday.”
Greetings, and welcome to another super-late Friday LinkSwarm! Been a busy week at the day job. I hope that next week is less frantic, but I also have to start working on my taxes…
It cannot be stated strongly enough that Brearley’s obsession with race must stop. It should be abundantly clear to any thinking parent that Brearley has completely lost its way. The administration and the Board of Trustees have displayed a cowardly and appalling lack of leadership by appeasing an anti-intellectual, illiberal mob, and then allowing the school to be captured by that same mob. What follows are my own personal views on Brearley’s antiracism initiatives, but these are just a handful of the criticisms that I know other parents have expressed.
I object to the view that I should be judged by the color of my skin. I cannot tolerate a school that not only judges my daughter by the color of her skin, but encourages and instructs her to prejudge others by theirs. By viewing every element of education, every aspect of history, and every facet of society through the lens of skin color and race, we are desecrating the legacy of Dr. Martin Luther King Jr., and utterly violating the movement for which such civil rights leaders believed, fought, and died.
I object to the charge of systemic racism in this country, and at our school. Systemic racism, properly understood, is segregated schools and separate lunch counters. It is the interning of Japanese and the exterminating of Jews. Systemic racism is unequivocally not a small number of isolated incidences over a period of decades. Ask any girl, of any race, if they have ever experienced insults from friends, have ever felt slighted by teachers or have ever suffered the occasional injustice from a school at which they have spent up to 13 years of their life, and you are bound to hear grievances, some petty, some not. We have not had systemic racism against Blacks in this country since the civil rights reforms of the 1960s, a period of more than 50 years. To state otherwise is a flat-out misrepresentation of our country’s history and adds no understanding to any of today’s societal issues. If anything, longstanding and widespread policies such as affirmative action, point in precisely the opposite direction.
I object to a definition of systemic racism, apparently supported by Brearley, that any educational, professional, or societal outcome where Blacks are underrepresented is prima facie evidence of the aforementioned systemic racism, or of white supremacy and oppression. Facile and unsupported beliefs such as these are the polar opposite to the intellectual and scientific truth for which Brearley claims to stand. Furthermore, I call bullshit on Brearley’s oft-stated assertion that the school welcomes and encourages the truly difficult and uncomfortable conversations regarding race and the roots of racial discrepancies.
I object to the idea that Blacks are unable to succeed in this country without aid from government or from whites. Brearley, by adopting critical race theory, is advocating the abhorrent viewpoint that Blacks should forever be regarded as helpless victims, and are incapable of success regardless of their skills, talents, or hard work. What Brearley is teaching our children is precisely the true and correct definition of racism.
I object to mandatory anti-racism training for parents, especially when presented by the rent-seeking charlatans of Pollyanna. These sessions, in both their content and delivery, are so sophomoric and simplistic, so unsophisticated and inane, that I would be embarrassed if they were taught to Brearley kindergarteners. They are an insult to parents and unbecoming of any educational institution, let alone one of Brearley’s caliber.
I object to Brearley’s vacuous, inappropriate, and fanatical use of words such as “equity,” “diversity” and “inclusiveness.” If Brearley’s administration was truly concerned about so-called “equity,” it would be discussing the cessation of admissions preferences for legacies, siblings, and those families with especially deep pockets. If the administration was genuinely serious about “diversity,” it would not insist on the indoctrination of its students, and their families, to a single mindset, most reminiscent of the Chinese Cultural Revolution. Instead, the school would foster an environment of intellectual openness and freedom of thought. And if Brearley really cared about “inclusiveness,” the school would return to the concepts encapsulated in the motto “One Brearley,” instead of teaching the extraordinarily divisive idea that there are only, and always, two groups in this country: victims and oppressors.
l object to Brearley’s advocacy for groups and movements such as Black Lives Matter, a Marxist, anti family, heterophobic, anti-Asian and anti-Semitic organization that neither speaks for the majority of the Black community in this country, nor in any way, shape or form, represents their best interests.
I object to, as we have been told time and time again over the past year, that the school’s first priority is the safety of our children. For goodness sake, Brearley is a school, not a hospital! The number one priority of a school has always been, and always will be, education. Brearley’s misguided priorities exemplify both the safety culture and “cover-your-ass” culture that together have proved so toxic to our society and have so damaged the mental health and resiliency of two generations of children, and counting.
I object to the gutting of the history, civics, and classical literature curriculums. I object to the censorship of books that have been taught for generations because they contain dated language potentially offensive to the thin-skinned and hypersensitive (something that has already happened in my daughter’s 4th grade class). I object to the lowering of standards for the admission of students and for the hiring of teachers. I object to the erosion of rigor in classwork and the escalation of grade inflation. Any parent with eyes open can foresee these inevitabilities should antiracism initiatives be allowed to persist.
Facebook cofounder Dustin Moskovitz has poured over $5 million into a network of nonprofits run by Black Lives Matter leader Patrisse Cullors, according to financial disclosure records, raising questions about whether this relationship played a role in the company’s decision to censor unflattering news articles about the activist last week.
The social media giant blocked its users from posting links to a New York Post story that revealed Cullors, a self-described Marxist, spent $3.2 million on high-end real estate as her Black Lives Matter Global Network Foundation raked in millions in donations.
Facebook said the reporting violated its “privacy and personal information policy.” The Post argued that the decision was “so arbitrary as to be laughable” and noted that the media routinely report on real estate purchases by other celebrities and political figures without facing social media censorship.
“Democrat Mayor, BLM Activist Hit With 11 Child Sex Felony Charges.””Robert Jacob, progressive former mayor of Sebastopol in Sonoma County, Northern California, was arrested for ‘five felony and one misdemeanor sexual assault charges against a minor,’ according to a statement from the Sebastopol Police Department.” (Hat tip: Stephen Green.)
It was crucial for liberal sectors of the media to invent and disseminate a harrowing lie about how Officer Brian Sicknick died. That is because he is the only one they could claim was killed by pro-Trump protesters at the January 6 riot at the Capitol.
So The New York Times on January 8 published an emotionally gut-wrenching but complete fiction that never had any evidence — that Officer Sicknick’s skull was savagely bashed in with a fire extinguisher by a pro-Trump mob until he died — and, just like the now-discredited Russian bounty story also unveiled by that same paper, cable outlets and other media platforms repeated this lie over and over in the most emotionally manipulative way possible….
As I detailed over and over when examining this story, there were so many reasons to doubt this storyline from the start. Nobody on the record claimed it happened. The autopsy found no blunt trauma to the head. Sicknick’s own family kept urging the press to stop spreading this story because he called them the night of January 6 and told them he was fine — obviously inconsistent with the media’s claim that he died by having his skull bashed in — and his own mother kept saying that she believed he died of a stroke.
But the gruesome story of Sicknick’s “murder” was too valuable to allow any questioning. It was weaponized over and over to depict the pro-Trump mob not as just violent but barbaric and murderous, because if Sicknick weren’t murdered by them, then nobody was (without Sicknick, the only ones killed were four pro-Trump supporters: two who died of a heart attack, one from an amphetamine overdose, and the other, Ashli Babbitt, who was shot point blank in the neck by Capitol Police despite being unarmed). So crucial was this fairy tale about Sicknick that it made its way into the official record of President Trump’s impeachment trial in the Senate, and they had Joe Biden himself recite from the script, even as clear facts mounted proving it was untrue.
“Minneapolis Mayor Jacob Frey may have just handed over the city to rioters as he made it clear that the overarching leftist narrative surrounding the Derek Chauvin trial is the real story, regardless of the facts.”
“Corporations that have criticized election reform — including Apple, American Airlines, and Uber — have received over $2 billion in Texas public dollars collectively.”
The information was compiled by the conservative Texas Public Policy Foundation (TPPF), a think-tank and supporter of Texas’ election reform legislation.
That total is likely even higher due to undisclosed subsidy amounts for multiple companies.
Most of the public funds come from state and local subsidies, with the single biggest beneficiary being Berkshire Hathaway, run by Warren Buffett, which has pulled in $802 million for its subsidiary Nebraska Furniture Mart.
Speaking of TPPF: he idea that expanding Medicaid by embracing ObamaCare is bunk:
But that’s not the experience in states that have expanded Medicaid.
New York, one of the earliest and most earnest adopters of Medicaid expansion, has seen Medicaid enrollment explode in the last decade and is now dealing with a $6 billion budget shortfall.
In California, lawmakers cut money from education just to stay afloat as they addressed an astonishing $54 billion deficit. The new demands of Medicaid expansion placed on the state’s budget mean either more cuts to critical programs or ballooning deficits.
Enrollment of able-bodied adults in the California program ended up 278% over official projections, with actual cost hitting nearly $44 billion instead of a projected $11.6 billion over a two-and-a-half year period. One out of every three people in California are now on Medicaid.
It’s not just big blue states. Ohio, thanks to Medicaid expansion, now allots a full 38 percent of its state budget to Medicaid spending. It was just 21 percent prior to expansion in 2009.
This is true in Indiana as well, where the share of the state budget eaten up by Medicaid has doubled from 18 percent to 35 percent since 2000. On average, states that expanded were about 50 percent over enrollment and spending projections.
States see dramatic increases in spending whenever Medicaid is expanded. This problem is even worse now because there is a federal prohibition against removing any enrollees from the program — in place until the COVID-19 emergency expires. States are handcuffed indefinitely.
Texas can’t ignore these outcomes.
What. The. Hell? “The Postal Service is running a ‘covert operations program‘ that monitors Americans’ social media posts.” Who they hell approved that bright idea and can we get them fired? (Hat tip: Ace of Spades HQ.)
Texas’s statewide mask mandate ended March 9. The day before, Texas had 5,119 new cases of COVID-19, and the seven-day average for new cases was 3,971. On that day, the state had 126,404 active cases of COVID-19. As of March 9, the seven-day average for new deaths was 104.
Yesterday, the state had 3,859 new cases, and the seven-day average for daily new cases is 3,057. The state had 93,430 active cases. The seven-day average for new deaths was 54. As I noted in late March and early April, the end of the statewide mask mandate did not generate a surge in cases or deaths, and shouldn’t have been reflexively denounced as “Neanderthal thinking” by President Biden.
Tokyo Olympics bans taking a knee. “The IOC’s Rule 50 forbids any kind of ‘demonstration or political, religious or racial propaganda’ in venues and any other Olympic area and the Games body concluded the rule should be maintained following an athlete consultation.”
Partly thanks to their crackpot one-child policy (one child per family) that was implemented in the late 1970s in order to limit China’s population growth, the ChiComs have a serious demographics problem on their hands, too. And the one-child policy exacerbated another demographics problem:
The one-child policy produced consequences beyond the goal of reducing population growth. Most notably, the country’s overall sex ratio became skewed toward males—roughly between 3 and 4 percent more males than females. Traditionally, male children (especially firstborn) have been preferred—particularly in rural areas—as sons inherit the family name and property and are responsible for the care of elderly parents. When most families were restricted to one child, having a girl became highly undesirable, resulting in a rise in abortions of female fetuses (made possible after ultrasound sex determination became available), increases in the number of female children who were placed in orphanages or were abandoned, and even infanticide of baby girls.
The combined result has been an aging population and a declining birth rate, as well as a gender imbalance (approximately 30 million more men than women looking for marriage partners), which resulted in the implementation of the two-child policy in 2016 (and recent recommendations from the People’s Bank of China – the Chinese central bank – to drop the limit altogether). China’s birth rate per 1000 people has decreased from 46 births in 1950 to just over 11 births in 2021.
Finally! “UK Parliament declares China’s treatment of Uyghurs a genocide.” Now we’ll see what difference that makes in foreign and economic policy, if any…
“Sinema, Kelly Call on Administration to Help Address Crisis at the Arizona Border, Fund National Guard Deployment.” “There is a crisis at the southern border… As such, we request you reimburse the state of Arizona for the deployment the Governor announced yesterday to support border security and continue to increase DHS personnel who can further assist with the processing of migrants, securing the border, and executing important security missions.” Both Kelly and Sinema are Democrats.
At the age of 8, my great-great-grandfather, Silas Burgess, arrived in America shackled in the belly of a slave ship and was sold on an auction block in Charleston, South Carolina, to the Burgess Plantation. He escaped through the Underground Railroad and saved up enough money to purchase a 102-acre farm, where he worked through tremendous challenges to live a prosperous, productive life.
My grandfather, Oscar Kirby, served our country in World War I and was the first member of my family to get a traditional education. My father, Clarence Burgess Owens Sr., fought for democracy abroad in World War II. He was undeterred by the Jim Crow South that denied him a post-graduate education and built a successful legacy as a professor, researcher and entrepreneur.
I grew up in the 1960s Deep South during the days of the Ku Klux Klan, Jim Crow and segregation. I was one of the first four Black athletes recruited to play football at the University of Miami and the third Black student to receive a scholarship for my education. Now, I am humbled to represent Utah’s 4th Congressional District in the U.S. Congress.
This intergenerational progress represents the common thread of self-worth that allowed each of my ancestors to see themselves as victors instead of victims. I think my great-great-grandpa Silas would agree that reparations are not the way to right our country’s wrongs.
It goes without saying that Rep. Owens is a Republican…
Related: Glenn Loury makes the case for black patriotism:
There is a fashionable standoffishness characteristic of much elite thinking about blacks’ relationship to America—as exemplified, for instance, by the New York Times’s 1619 Project. Does this posture serve the interests, rightly understood, of black Americans? I think that it does not.
Indeed, a case can be made that the correct narrative to adopt today is one of unabashed black patriotism—a forthright embrace of American nationalism by black people. Black Americans’ birthright citizenship in what is arguably history’s greatest republic is an inheritance of immense value. My answer for black Americans to Frederick Douglass’s famous question—“Whose Fourth of July?”—is, “Ours!”
Is this a venal, immoral, and rapacious bandit-society of plundering white supremacists, founded in genocide and slavery and propelled by capitalist greed, or a good country that affords boundless opportunity to all fortunate enough to enjoy the privileges and bear the responsibilities of citizenship? Of course, there is some warrant in the historical record for both sentiments, but the weight of the evidence overwhelmingly favors the latter. The founding of the United States of America was a world-historic event by means of which Enlightenment ideals about the rights of individual persons and the legitimacy of state power were instantiated for the first time in real institutions.
African slavery flourished at the time of the Founding, true enough. And yet, within a century of the Founding, slavery was gone and people who had been chattel became citizens of the United States of America. Not equal citizens, not at first. That took another century. But African-descended Americans became, in the fullness of time, equal citizens of this republic.
Our democracy, flawed as it most surely is, nevertheless became a beacon to billions of people throughout what came to be known as the “free world.” We fought fascism in the Pacific and in Europe and thereby helped to save the world. We faced down, under the threat of nuclear annihilation, the horror that was the Union of Soviet Socialist Republics. Moreover, we have witnessed here in America, since the end of the Civil War, the greatest transformation in the status of a serfdom people (which is, in effect, what blacks became after emancipation) to be found anywhere in world history.
“The NBA has suffered another ratings disaster, with ABC falling 45 percent since the 2011-12 season, while TNT was down 40 percent, and ESPN was off 20 percent.”
“Woman who lost partner in crossbow attack wants ‘medieval’ weapon regulated.” Can Pointy Stick Control be far behind?
Republican lawmakers are raising concerns that provisions in the sweeping climate bill from top House Democrats would stifle the plastics industry.
One late addition to the nearly 1,000-page piece of legislation, known as the CLEAN Future Act, is meant to curb greenhouse gas emissions and air pollution emitted from the petrochemical facilities that produce plastics or the raw materials used to make plastics.
Most significantly, the bill would impose a temporary pause on air pollution permits needed for approval of new plastics production facilities.
The legislation also directs the Environmental Protection Agency to issue new greenhouse gas and air pollution controls for these facilities within three years, including requiring plastics production plants to use zero-emissions power and improve emissions monitoring.
Buy into our green energy graft or we won’t let you do business.
The EPA regulations must also require any permit for a plastics production facility to be accompanied by an “environmental justice assessment,” which would include consulting with the people who live in the region where the facility would be located, according to the bill.
Pay off our social justice warriors or we won’t let you do business.
Several Republicans, during a legislative hearing on the bill Thursday, argued it would dampen the plastics industry at a time when the pandemic exposed a need for more plastic materials for personal protective equipment such as masks and gloves.
Rep. David McKinley, a West Virginia Republican, asked whether the Democrats’ bill would preclude the opening of new facilities such as an under-construction ethane cracker plant being built by Shell near Pittsburgh or a similar plant planned for eastern Ohio.
“Yes, I believe that language would jeopardize future investment into those types of facilities,” said Kevin Sunday, director of government affairs for the Pennsylvania Chamber of Business and Industry, in response to McKinley’s question.
Sunday added that beyond PPE, plastics are also used to weatherize homes and can be found in automotive devices, recreational equipment, and even components used to transport and store the coronavirus vaccines.
Plastics are basically in every part of the American economy, from cars to medicine to semiconductors to clothing. As the biggest petrochemical producing state, Texas would be badly hurt by such regulation, but so would Louisiana, Pennsylvania, Ohio, New Jersey and Illinois (among many others).
Rep. Dan Crenshaw, a Texas Republican, questioned whether the provisions targeting plastics production would have any measurable benefit on curbing emissions or reducing plastic waste in the oceans.
“I take that cotton bag to Whole Foods, I do, but I know it’s virtue-signaling,” Crenshaw said during the hearing. He suggested that the bulk of the plastics waste in the oceans can be traced back to Asian countries and that the United States isn’t as big a piece of the problem.
Of course, this bill wouldn’t stop anyone from opening plastics plants in China, where environmental regulations are far more lax. If this bill passes, opening a plastics plant in China may indeed require less money in bribes for communist party officials than opening one in America would require in crony capitalist payoffs to Democratic Party toadies. So the end result will be more global pollution and fewer American jobs.
This is yet another area where Democrats’ rent-seeker behavior will harm the American economy to ensure that their own palms are greased. One hopes there are still enough Democratic senators willing to listen to major employers in their states to vote down this naked attempt to tank a vital sector of the American economy.
I’ve been watching entirely too many Top Gear/Grand Tour videos on YouTube. This one struck me as just barely justifiable for posting here as an example of idiot government regulation at work: a look at idiot street signs.
These are all from the UK. Feel free to share examples closer to home in the comments.
I finally had time to finish this postmortem post on the Texas winter storm energy grid crisis. I’ve got a ton of pieces to get through, so let’s dig in.
Here were two problems, one short term and one long term—which exacerbated the short-term one.
The short-term failure came at about 1 a.m. Monday when ERCOT should have seen the loads soaring due to plummeting temperatures, and arranged for more generation.
Texas came very close to having a system-wide outage for the whole state (in the ERCOT area, about 85% of the state) due to not arranging for more generation.
This tripped the grid, knocking some reliable thermal plants (gas and coal) offline. This was a failure of the grid operator (ERCOT) not the power plants.
In the last four to five years, Texas lost a net of 3,000 megawatts of thermal out of a total installed capacity 73,000 megawatts today.
We lost the thermal power because operators couldn’t see a return on investment due to be undercut by wind and solar, which is cheap for two reasons—it’s subsidized and it doesn’t have to pay for the costs of grid reliability by purchasing battery farms or contracting with gas peaker plants to produce power when needed, not when they can.
Meanwhile, Texas has seen a growth of 20,000 megawatts of wind and solar over the same period to a total of 34,000 megawatts of installed capacity statewide, though they rarely perform anywhere close to capacity.
Wind and solar, with state and federal subsidies, have pushed reliable thermal operators out of business or prevented new generation from being built as operators can’t make money off of the market.
Equipment failure turned out to be a big part of the problem.
“Beginning around 11:00 p.m. [Sunday night], multiple generating units began tripping off-line in rapid progression due to the severe cold weather,” said Dan Woodfin, senior director of system operations at ERCOT, the organization that manages the state’s electric grid.
What does that mean? Equipment literally froze in the single digit temperatures and stopped working.
Then, as reserves diminished, ERCOT asked transmission providers to turn off large industrial users that had previously agreed to be shut down. But the situation deteriorated quickly, requiring rotating outages that have lasted hours for many Texans.
Electric generating plants did not properly winterize their equipment, said Dr. David Tuttle in the latest episode of the Y’all-itics political podcast. Tuttle is a research associate with the Energy Institute at the University of Texas at Austin.
“There are things that can be done, but it will cost some money,” he added. “About every decade we have these long-sustained periods. And then, you know weatherization is supposed to happen, and then, it doesn’t because it costs money.”
As Texans reel from ongoing blackouts at the worst possible time, during a nationwide cold snap that has sent temperatures plummeting to single digits, the news has left people in other states wondering: How could this happen in Texas, the nation’s energy powerhouse?
But policy experts have seen this moment coming for years. The only surprise is that the house of cards collapsed in the dead of winter, not the toasty Texas summers that usually shatter peak electricity demand records.
The blackouts, which have left as many as 4 million Texans trapped in the cold, show the numerous chilling consequences of putting too many eggs in the renewable basket.
Snip.
On the whole, Texas is losing reliable generation and counting solely on wind and solar to keep up with its growing electricity demand. I wrote last summer about how ERCOT was failing to account for the increasing likelihood that an event combining record demand with low wind and solar generation would lead to blackouts. The only surprise was that such a situation occurred during a rare winter freeze and not during the predictable Texas summer heat waves.
Yet ERCOT still should not have been surprised by this event, as its own long-term forecasts indicated it was possible, even in the winter. Although many wind turbines did freeze and total wind generation was at 2 percent of installed capacity Monday night, overall wind production at the time the blackouts began was roughly in line with ERCOT forecasts from the previous week.
We knew solar would not produce anything during the night, when demand was peaking. Intermittency is not a technical problem but a fundamental reality when trying to generate electricity from wind and solar. This is a known and predictable problem, but Texas regulators fooled themselves into thinking that the risk of such low wind and solar production at the time it was needed most was not significant.
“By Monday morning, half of Texas’ wind turbines were frozen solid, and wind generation bottomed out at 2 [percent] of installed capacity by Monday night,” said Jason Isaac, director of Life:Powered, a project of Texas Public Policy Foundation and a former state lawmaker.
“Because of this massive gap in wind production and ERCOT’s delay, what should have been a series of brief rolling blackouts—inconvenient but manageable—instead turned into 4 million Texans left in the cold and without answers,” he continued. “To make matters worse, ERCOT shut down power at natural gas substations in the Permian, leading to further shortages.”
Agricultural Commissioner Sid Miller has since said Texas should stop building wind turbines; focus on gas, coal, and oil; and called for the firing of Gov. Greg Abbott’s appointees to the Public Utility Commission—the government body that oversees ERCOT.
But was this crisis foreseeable? Isaac says yes.
“We’ve known for years that a weather event combining low wind and solar production and record demand could lead to blackouts,” he told Texas Scorecard. “This week, that event became a reality as new wind and solar generation failed to produce when it was needed the most, and it appears ERCOT fell asleep at the wheel.”
For years, Texas’ grid operator (ERCOT) has overestimated the ability to maintain a reliable grid without a sufficient supply buffer, known as a “reserve margin.” That margin is the difference between demand for electricity and what the grid can produce. When demand exceeds production, you get blackouts. That buffer has been shrinking because reliable sources of energy have been retired, few reliable plants have been constructed, and the grid is depending more and more on weather-dependent renewable energy that repeatedly fails to perform when we need it most.
When wind and solar production predictably dropped as the winter storm hit, the buffer collapsed. ERCOT needed to execute a series of balancing measures that would have protected the grid. But it did not act soon enough, which caused many more gas and some coal power plants in the system to “trip.” (Think of it as a circuit breaker that triggers to prevent a fire or other emergency at your house when there is a system imbalance.) Other weather-related issues caused problems too but ERCOT’s failure to act sooner was a major factor.
Usually, a system trip wouldn’t last long and we’d have power back in a few hours. But this time, many of the units that were tripped off the system had difficulty coming back online for a variety of reasons, including the fact that some were not designed to be taken off and put back on the system quickly, as well as other cold weather issues that exacerbated the problem.
So when people blame ERCOT for not acting quickly, they’re right. And so are the people who say that both renewable energy and fossil energy plants are not generating what they should. But it doesn’t begin there. Our overdependence on unreliable energy that caused the razor thin reserve margins started the ball rolling years ago.
Here’s the long story.
Keeping the power on is a bit of a guessing game played out every day by the grid operator to make sure we have the right mix of energy getting on to the grid. There’s that buffer, the reserve margin, which ERCOT uses to give it some leeway in making moves. As with anything, the more reliable and predictable the source of energy, the better moves ERCOT can make.
However, the race to add in renewables pushed out more reliable forms of energy and kept new reliable energy from being built. That resulted in the buffer in our electric grid being stripped out—going from more than a 20% surplus years ago to single digits in the last couple of years.
Without that buffer, our system has become much more vulnerable to outages when we see extreme heat or extreme cold. The problem is made worse by the fact that renewables have grown to become a significant percentage of our fleet, making our power grid much more susceptible to weather-related shortages. That is because renewables do not show up when we need power the most (high heat, freezing cold, big storms, etc.)
Here’s an informative thread on how the Texas energy market is set up and how some of the system was offline when the worst hit:
The ERCOT grid is a very complex beast. It can’t call on other grids for support (but that is a bit overrated as typically when you need power so does your adjacent region, but that’s later).
ERCOT is a 501c3 nonprofit that is charged with managing the market, but above all, reliability (keeping the lights on). In my experience some of the smartest people I’ve ever met work there. Wish I could name some of them because they’re absolutely brilliant.
Retail guys, municipalities, and cooperatives are the guys who buy power wholesale and sell it to the end user (residentials, commercials, industrials).
Retail outside of municipal or cooperative areas can shop for a retail provider. 8/
This year, ~20,000MW of (gas and coal) Power plants requested an outage. ERCOT runs an outage study looking at demand and other available resources, and then says yes. (They make sure all the plants in Houston aren’t out for example because that would jack up Houston rates). 12/
If those plants could be back up they would’ve because they want to make big money. So, Feb 11th, we go to bed, wake up to a coating of ice. This ice is thick and persistent. Next day, sun is out, roads are good. Maybe we’re through the worst?
On the night of the 15th, between midnight and 3 am, 8000MW of gas, 1200MW of Nukes, and 2000MW of coal trip off the grid. Culprits are frozen gas pipelines and water for steam. (Note the Big gas drops)
I think here he’s conflating a few different things; it’s unclear how much capacity was taken off line due to insufficient weatherization and how much was caused by ERCOT foolishly inducing blackouts in the gas-producing Permian Basin.
So no water through the pipe, no steam. No gas no gas to heat that water.
That trip caused a lot of the outages and most of the outrage.
So ERCOT’s only options in these situations is: 1) cut off a big chunk of the customers. 2) let the whole system trip and take months to get back to normal.
Last thing. In 2011. We had a bad winter but it was followed by a drought and the worst summer ever. Power plants didn’t have water in their lakes to run the plant. 100 days over 100°. The grid focused on that issue instead of the cold.
Nationally, retail electric sales generated $117 billion in 3Q2022, $10.9 billion in Texas (of which $6.3 billion was residential) and $14.5 billion in California. 2/12
If Texans paid what Californians did for electricity, Texans would have paid $13.2 billion more, or about $508 more per person in the state for those three months in 2020. 4/12
One aspect of Texas’ failure has been the rapid grown of unreliables (wind and solar) subsidized by federal and state policy concurrent with the shedding of reliable power (coal and natural gas). 6/12
We suggest making all electricity producers guarantee dispatchable power for Texas’ grid—this means that the unreliables would have to secure agreements… 8/12
Mitchell Rolling explains: “As you can see, the top three performing energy sources during the energy crisis in Texas were all fuel-based energy sources: nuclear, coal, and natural gas. On average, these three energy sources alone provided over 91 percent of all electricity generated throughout the energy emergency, as the graph below shows. Without these energy sources on the grid providing the bulk of electricity, the situation in Texas would have gone from bad to worse.”
The massive blast of Siberia-like cold that is wreaking havoc across North America is proving that if we humans want to keep surviving frigid winters, we are going to have to keep burning natural gas — and lots of it — for decades to come.
That cold reality contradicts the “electrify everything” scenario that’s being promoted by climate change activists, politicians, and academics. They claim that to avert the possibility of catastrophic climate change, we must stop burning hydrocarbons and convert all of our transportation, residential, commercial, and industrial systems so that they are powered solely on electricity, with most of that juice coming, of course, from forests of wind turbines and oceans of solar panels.
But attempting to electrify everything would concentrate our energy risks on an electricity grid that is already breaking under the surge in demand caused by the crazy cold weather. Across America, countless people don’t have electricity. I’m one of them. Our power here in central Austin went out at about 3 am. I am writing this under a blanket, have multiple layers of clothes on, and am nervously watching my laptop’s battery indicator.
This blizzard proves that attempting to electrify everything would be the opposite of anti-fragile. Rather than make our networks and critical systems more resilient and less vulnerable to disruptions caused by extreme weather, bad actors, falling trees, or simple negligence, electrifying everything would concentrate our dependence on a single network, the electric grid, and in doing so make nearly every aspect of our society prone to catastrophic failure if — or rather, when — a widespread or extended blackout occurs.
One of the most contested issues is the role wind generation has played. Prior to the onset of the storm last week, Texas led the nation in wind power generation and depended on the wind turbines in West-Central and Western Texas, along with a smaller number of turbines along the Gulf Coast, for about 25% of its electricity. As wind power has increased, coal-powered generation plants have been taken offline around the state. Texas has abundant coal, oil, and natural gas, and also has nuclear plants near Dallas and near Houston.
Real-time data from the U.S. Energy Information Administration shows that wind power collapsed as the winter storm swept across the state.
Snip.
As the graph plainly shows, wind generation choked down but natural gas compensated. Coal and even nuclear power generation dipped. Solar generation has been negligible due to cloud cover and several inches of snow and ice.
The cold has created extreme demand across the state. During most winter storms, the Panhandle, West Texas, and even North Texas around Dallas and above toward Paris may get cold but Central and South Texas could remain well above freezing. This has not happened during the current series of storms. The entire state is in a deep freeze, with snow appearing even on Galveston Island’s beach. Galveston averages lows of about 50 degrees and highs in the mid-60s during a typical February. It’s 37 degrees in Galveston as I write this, well below average. Austin has seen single-digit temperatures at night.
To put all of this into some perspective, the storm that dumped more than six inches of ice and snow on Austin Sunday night would, by itself, have been a historic storm. It dropped more snow on the capital than any other storm since 1949. It was preceded by a major cold snap and has been followed by more extreme cold and then another ice and snow storm Tuesday night. Texas has not suffered a single historic winter storm over the past several days, but a series of them without any warming in between…
Add to all of this, when Texas gets winter storms it usually doesn’t just get snow. Snow is fairly easy to deal with. Texas also gets ice, which can snap electric lines and break trees and tree branches, which also can fall on and break power lines. A tree in my yard is bent over by ice to the point that it looks like an invisible hand is holding it down. We can expect the ice to kill off millions of trees around the state. The ice layers also render most roads impassable. All of this is very unusual for Texas, but not unprecedented. The winter of 1836 was notably harsh; Santa Anna reportedly encountered deep snow as he marched his army toward San Antonio.
Most winters, Austin will have a few cold days but no snow. Central Texas is known to go entire winters without anyone having to so much as scrape any frost off their car windshield. Austin has had two significant snowstorms in 2021, with the current one being historic by any measure.
Piecing known information together, the wind turbines in Western Texas froze up starting Friday before the icy snowstorm hit, on Sunday night to Monday morning. This destabilized the Texas grid ahead of the worst of the storm. The storm produced the temperatures and precipitation the forecasts expected, but with weakened power generation and demand skyrocketing to heat millions of homes, homes which for the most part are not insulated against the current level of cold temperatures, the grid was set up to suffer mightily as it’s not hardened against extreme cold such as this once-in-a-century storm series is delivering.
In chart form:
This sums up what you want to know about power shortages in #Texas! Timeline matters. Researchers must start from Feb 9. Have solar & wind failed? YES, starting Feb 9.
Have backup #natgas plants failed? Yes, starting Feb 14. Yet, Natgas generation still way higher than before pic.twitter.com/AKa6M0neZw
Wind’s share has tripled to about 25% since 2010 and accounted for 42% of power last week before the freeze set in. About half of Texans rely on electric pumps for heating, which liberals want to mandate everywhere. But the pumps use a lot of power in frigid weather. So while wind turbines were freezing, demand for power was surging.
California progressives long ago banished coal. But a heat wave last summer strained the state’s power grid as wind flagged and solar ebbed in the evenings. After imposing rolling blackouts, grid regulators resorted to importing coal power from Utah and running diesel emergency generators.
Liberals claim that prices of renewables and fossil fuels are now comparable, which may be true due to subsidies, but they are no free lunch, as this week’s energy emergency shows. The Biden Administration’s plan to banish fossil fuels is a greater existential threat to Americans than climate change.
Decades of taxpayer-funded subsidies that favor unreliable wind power are crowding reliable energy sources out of the market, weakening the grid, and leading directly to the blackouts we experienced last week.
It’s no surprise — in fact, Texas came close to seeing widespread blackouts in August 2019. Our reserve margin, the buffer of extra electricity between what Texans are using and what we can produce, has become steadily smaller in recent years. And without quick action by state leaders, it will only get worse.
We should eliminate subsidies and tax breaks for energy companies — especially unreliable wind— to allow the free market to function smoothly. We must prioritize reliability and affordability in our electricity choices. Unfortunately, that’s not politically popular. But these are steps we can and must take for our state’s future.
Austin’s useless City Council being their usual useless selves: “Austin Energy’s biomass power plant in East Texas, which the city purchased in 2019 for $460 million, sat idle and produced no power during one of the worst winter energy crises in state history.” Well, at least it was providing Austinites jobs? Nope. It’s near Nacogdoches.
A mere five months after Florida Governor Ron DeSantis lifted coronavirus restrictions on his state, Texas Governor Greg Abbott is finally doing the same:
At a press conference in Lubbock, Governor Greg Abbott announced that he was issuing a new executive order that would rescind most of the regulations in his previous orders, including allowing all businesses to open to “100 percent” capacity and ending the statewide mask mandate beginning next Wednesday.
“It is now time to open up Texas 100 percent. Every employee who wants to work should have that opportunity. Every business that wants to be open, should be open,” said Abbott.
Abbott said that his executive order will allow county judges to impose other restrictions if COVID-19 hospitalizations rise above 15 percent in the state trauma service area that covers their county — though not with a penalty of jail time or fines with any mask mandates.
COVID-19 hospitalizations have been on a sharp downward trend, with the most populous regions of the state falling below the 15 percent threshold during the recent statewide freeze.
Currently only two trauma service areas are above that mark: the regions covering El Paso and Laredo.
The governor’s last executive order related to the pandemic was issued in October and permitted some businesses to reopen at 75 and 50 percent capacity, as long as the same hospitalization metric was met.
Here’s Abbott’s full order, which makes it clear that county judges may still impose certain lockdown conditions in certain circumstances, but: A.) No business limits below 50% capacity, B.) No limits on houses of worship, C.) No jail time for violating restrictions and D.) No mask penalties of any kind.
Restrictions are lifted effective March 10.
The big question is not why did Abbott lift what remained of the lockdown, but what took him so long. Here’s the coronavirus chart for Florida, which has been fully open since September 25, 2020:
And here’s the same chart for Texas:
Do anything about those charts suggest that Texas did any better than Florida? Texas had 2.67 million coronavirus cases and 44,353 deaths (for a population of 28,995,881), while Florida had 1.92 million cases and 31,134 deaths on population of 21,477,737. (Coronavirus numbers via Google, population numbers from here.) Take into account Florida’s higher elderly population and it seems that Texas has achieved no notable benefits for an additional five months of lockdown restrictions.
It’s hardly any consolation that states run by Democratic governor’s are still stuck on stupid:
I reached out to the Texas Public Policy Foundation’s energy expert Katie Tahuahua about the dire energy problems brought about by the huge winter storm, here are her answers:
1. The Texas Interconnect Grid is a separate grid from the U.S. Eastern and Western Interconnect grids. What advantages and disadvantages does this provide for Texas energy consumers?
KT: The advantage of Texas having its own electric grid is that our communities aren’t affected by poor policy choices in other states we have no control or accountability over. However, it also means we must bear the full costs of our choices and feel the full brunt of crises like the blackouts across the state this week.
2. What role does ERCOT serve in managing the Texas Interconnect grid?
KT: The Electric Reliability Council of Texas (ERCOT) manages the Texas Interconnection Grid — although, unfortunately, the “Reliability” in its name has now been called into question.
3. The current wave of extreme cold was forecast in advance. Why were so many electricity-producing entities caught off-guard?
KT: There are two problems here. The first is that ERCOT waited too long to initiate conservation measures to meet increased demand as the weather turned colder. However, this delay wouldn’t have been a problem at all had Texas not put so many eggs in the renewable basket. Instead of adding more reliable fossil fuel generation to the grid over the last few years to keep up with our growing population and electricity demand, we’ve closed over 3,000MW in natural gas and clean coal and instead added 20,000MW of unreliable wind and solar to the grid. Unfortunately, all that wind and solar was barely generating when Texans needed it most. By Monday morning, half of Texas’ wind turbines were frozen solid and total wind generation bottomed out at 2% capacity by Monday night. Because of this massive gap in wind production and ERCOT’s delay, what should have been a series of brief rolling blackouts — inconvenient but manageable — instead turned into millions of Texans left in the cold and without answers.
4. What, if any, role has ERCOT’s demand pricing policies played in helping create the current crisis?
KT: ERCOT does not currently have demand pricing policies. While voluntary demand pricing programs could help prevent situations like this, any regulatory solution should place the cost of ensuring reliable electricity on the generators where it belongs, not on the customers.
5. A great number of Austin households are without power right now. Has Austin energy performed notably worse than other government power entities, and what policies have contributed to making the situation worse?
KT: Anecdotally, we know that there are communities in several areas of the state still without power. It does not appear that the blackouts are worse in Austin than anywhere else. However, Austin’s boisterous promotion of unreliable renewable energy — and their expensive failed efforts to use it — have reduced reliability for their customers and for the broader Texas grid. Unfortunately, San Antonio and CPS Energy are going down the same path that will put their ratepayers on the hook for $1 billion and further jeopardize the security of our grid.
6. How much, if any, has the push for “renewable” energy courses like wind and solar contributed to the current energy difficulties in Texas?
KT: It’s clear that policy decisions favoring unreliable wind and solar energy made blackouts such as this inevitable at some point. The severity of this blackout could have been reduced had ERCOT acted more swiftly — but it never would have been an issue had our grid not been so deeply penetrated by unreliable energy sources that contribute the least when they are needed the most, yet are propped up by billions in taxpayer-funded subsidies every year.
The Texas Legislature should end these subsidies and require all electric generators to guarantee a certain amount of “dispatchable,” or readily available, power to the grid at all times. The Texas Public Policy Foundation and our Life:Powered initiative will be working closely with the legislature to preserve Texans’ access to affordable, reliable electricity no matter the weather.
Thanks to Katie Tahuahua for taking the time to answer these questions.
Today is the first time in almost a week that the temperature is going to get above freezing…
Texas came very close to having a system-wide outage for the whole state (ERCOT area, about 85% of the state) due to not arranging for more generation. 4/10
In the last 4-5 years, Texas lost a net of 3,000 megawatts of thermal out of a total installed capacity 73,000 megawatts today. We lost the thermal power because operators couldn’t see a return on investment due to be undercut by wind and solar… 6/10
Meanwhile, Texas has seen a growth of 20,000 megawatts of wind and solar over the same period to 34,000 megawatts of installed capacity (they rarely perform anywhere close to capacity). This subsidized (state and federal) wind and solar have pushed… 8/10
Texas is experiencing what California has – with California affecting the entire Western Interconnection due to its policies. Blackouts are a feature of the push to have more unreliable renewables on the grid. Must pay $$ for reliable backup w/ renewables 10/10
The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging.
Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners.
Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.
“I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”
“While the ‘value shorts’ that were in GME earlier have been squeezed, most of the borrowed shares that were returned on the back of the buy to covers were shorted by new momentum shorts in the name,” Dusaniwsky added in an email.
Shares of GameStop were back up Friday after Robinhood and other retail brokers allowed trading to resume.
The borrow fee on GameStop’s stock — or the cost-to-borrow shares for the purpose of selling them short — jumped to 29.32% on existing shorts and 50% on new short positions, S3 said.
“If most of the shorts had covered, we would not be seeing stock borrow rates at these high levels — by now you would be able to borrow GME stock at single digit levels due to an increase in the lendable stock loan supply due to borrowed shares being returned after all the ‘supposed’ buy-to-covers,” Dusaniwsky said.
GameStop remained the most-shorted name in the market as short interest as a percentage of shares available for trading stands at 113.31%, S3 said.
(Supposedly Melvin Capital and Citron are out of their GameStop short positions. So who is still in?)
Assuming all the above is true, the remaining hedge funds and their allies are still shorting more than 100% of the stock, despite the theoretically infinite risk involved. I can think of several theories to explain what appears to be apparently irrational behavior:
Short sellers fully expect their friends in the Biden Administration and/or the financial regulatory apparatus to come to their aid and extricate them from the bind they’ve put themselves into by suspending or changing the rules. Huh. I wonder why they could possibly think that?
Janet Yellen accepted $810,000 in speaking fees from Citadel, owner of Robinhood.
Reporter: Are there any plans to recuse herself from advising the President on GameStop and Robinhood situation?
Psaki: ‘No and she’s an expert and deserves that money.’
Short sellers expect to use their power to force trading companies to bend to their will by forcing retail investors to sell their shares (as Robinhood was reportedly doing on Thursday).
Short sellers expect one or more “whales” (i.e., rich individual investors) to flip and either sell their shares or lend them out to cover shorts once the temptation to take profits is too great.
Deeper-pocketed short sellers expect the squeeze to force weaker rivals out of the game, either taking huge losses to liquidate their positions or going bankrupt. In either case, they expect this winnowing to drop shorted shares below the 100% threshold, relieving the pressure on the shorts for the remaining short sellers.
Obviously, it could also be a combination of all these. (Or something else; feel free to float other theories in the comments.)
It’s the first two possibilities that should worry us from a policy position: If the big players can break the rules at will to reverse their fortunes when they’ve been beaten at their own game by the little players, then it’s not a free market. And if it’s not a free market, what’s to keep ordinary Americans from getting out of the game entirely?
Some New Mexico officials are now trying to defend themselves by saying they didn’t anticipate the new President would issue such a ban, but such protests ring rather hollow given that they most assuredly did understand that Biden plans to move ahead with his fracking ban, which would for all intents and purposes have the same effect. After all, virtually 100% of the drilling activity in southeast New Mexico targets the various shale formations in the Delaware Basin, and all shale wells require a frac job in order to be productive. Thus, a ban on fracking is the same thing as a ban on leasing and drilling.
Total job losses for all of Biden’s anti-energy policies could add up to 1 million jobs. (Hat tip: Director Blue.)
in Texas, where small, independent operators play a significant role in oil production, Biden’s policies could pack more of a punch.
Among Biden’s policy proposals:
Required disclosure of climate risks from public companies.
A commitment to end new drilling permits for federal lands.
A pledge to eliminate tax subsidies for the oil and gas industry.
“To the extent that there will be effects, those effects would be felt primarily by smaller producers,” said Sheila Olmstead, professor of public affairs at the LBJ School of Public Affairs at the University of Texas. She served as the senior economist for energy and the environment at the President’s Council of Economic Advisers under President Barack Obama.
Why settle for low-cost, reliable energy sources that provide high-paying, blue collar American jobs when there’s so much virtue signaling and graft to be had in Green New Deal pork?
_Imposter_
(@Imposter_Edits) April 15, 2021
(@StudiosShelly) 
