Free Republic

LONDON, March 8 (Reuters) - Sky-high oil prices resulting from a potential Russian oil import ban could force governments to pour more cash into fossil fuel subsidies to shield consumers from rising energy bills, rather than use the money to fight climate change. Even before Russia's invasion of Ukraine, rising energy costs had triggered a wave of subsidies despite countries agreeing to rein them in at the COP26 climate conference in November. "The last thing that governments want to do is increase any subsidies for fossil fuel use but they have to be sensitive to the price shock," said Ben...

(the money quote): "U.S. grain and soy plantings Prevented plantings (thousands of acres) Crop Dec. 1, Nov. 9, Dec. 1, 2021 2021 2020 Corn 639 639 6,186 Soybeans 341 341 1,476 Wheat 293 293 1,272 Total for all U.S. crops 2,104 2,104 10,219"

Elon Musk has attacked a draft plan under consideration in California that critics say disincentivizes the use of rooftop solar panels.The Tesla founder was responding to changes proposed by the California Public Utilities Commission (CPUC) to the state's Net Energy Metering (NEM) program.Under the program, the estimated 1.3 million homeowners and businesses in the Golden State who have installed rooftop solar panels can sell back surplus energy to the grid and receive credit on their bills.But last month the CPUC released a proposal calling for a number of changes, one of which is how much customers are paid when they...

During the holiday season candy canes are once again omnipresent with all the joy they represent to go with their yummy goodness. But the business behind the production of that candy cane is fraught with trade battles pitting nations against one another as quotas and subsidization distort any sense of an honest pricing model. That is why it is good news that earlier this year, Representatives Kat Cammack (R-FL) and Dale Kildee (D-MI) introduced a new resolution to zero out the foreign subsidies that make sugar the world’s most distorted commodity market. “Time and again, the survival of American sugar...

Musk's finally ready to admit that government subsidies distort markets and that government actors are terrible at capital allocation."Say tomorrow, you get a phone call from Joe Biden," asked Wall Street Journal tech columnist Joanna Stern to Tesla CEO Elon Musk in a Monday night forum. "And he asks: What are your needs from this [$2 trillion spending] bill? How do you answer him?" "We don't think about it at all, really," Musk said, channeling Don Draper to the tune of the audience's uneasy laughter. "It might be better if the bill doesn't pass," Musk added. "The federal budget deficit...

Florida’s version of the American dream, which holds that even people of relatively modest means can aspire to live near the water, depends on a few crucial components: sugar white beaches, soft ocean breezes and federal flood insurance that is heavily subsidized. But starting Oct. 1, communities in Florida and elsewhere around the country will see those subsidies begin to disappear in a nationwide experiment in trying to adapt to climate change: Forcing Americans to pay something closer to the real cost of their flood risk, which is rising as the planet warms. While the program also covers homes around...

House Democrats are offering more than $1 billion in subsidies to local newspapers as part of a massive spending proposal released this week, even as polls show record levels of distrust in the media. The $3.5 trillion spending plan includes up to $25,000 in payroll tax credits for each journalist on a local newspaper’s payroll. The carve-out will cost $1.3 billion over the next decade, according to the Joint Committee on Taxation. To offset this and other tax credits included in the bill, Democrats are proposing $2.9 trillion in tax hikes through higher corporate, capital gains, and personal income tax...

Today's politicians want to spend more on EVERYTHING: Amtrak subsidies, sports stadium subsidies, green energy subsidies, even fossil fuel subsidies ... resident Joe Biden says the handouts will "put more money in your pocket." House Speaker Nancy Pelosi claims they will "protect the planet for the children." They might. But a disproportionate amount of the money will end up in the hands of big companies -- the ones with the most lawyers and lobbyists. A new documentary, "Corporate Welfare: Where's the Outrage?" gives examples of this. This week, my new video covers two of the worst. First, tax "breaks." Memphis,...

In Egypt, the recent announcement that bread prices, long subsidized for much of the population, would likely have to rise was met with cries of despair. Indeed, over two-thirds of the population of Egypt depend on inexpensive bread for daily sustenance. In order to understand the current situation in Egypt, it’s imperative to learn how the current situation was created in the first place. First, the word used for bread in Egypt is different from the word common to other Arab countries, and is intertwined with the word meaning “to live.” Also, the most common type of bread in Egypt,...

MOSCOW. July 16 (Interfax) - The Russian government has approved talks between NPO Energomash and America's Orbital Sciences LLC on a contract for the use of the RD181M engine in the Antares launch vehicle, under a directive published on the official website for legal information. "To accept a proposal by the Roscosmos State Corporation for Space Activities, which was agreed with concerned federal executive authorities, on conducting negotiation between the joint-stock company NPO Energomash named after Academic V.P. Glushko and Orbital Sciences LLC (United States of America) on the conclusion of a contract for the use of the RD181M liquid-propellant...

The oldest maxim in politics is “follow the money.” That maxim also applies to electric grids. Following the billions of dollars that have been spent on the Texas grid explains why the state continues to have electricity shortages. On Monday, ERCOT, the state’s troubled grid operator, asked Texans to reduce their electricity use. That request came exactly four months after Texas residents were asked to conserve electricity due to a massive winter storm. Before going further, I’ll give you the punchline: As I explained in these pages in April, about $66 billion was spent on wind and solar in Texas...

Farm subsidies are perhaps the ultimate, but secret, third rail of American politics. While entitlements are discussed out in the open, farm subsidies are rarely talked about – even though they are the most expensive subsidy Washington doles out. All told, the U.S. government spends $20 billion annually on farm subsidies, with approximately 39 percent of all farms receiving some sort of subsidy. For comparison, the oil industry gets about $4.6 billion annually and annual housing subsidies total another $15 billion. A significant portion of this $20 billion goes not to your local family farm, but to Big Aggie. (Note...

Washington solidifies goal to end sale of new gas-powered cars by 2030 A bill to promote hydrogen-powered vehicles is now a state law. “Giving residents more access to purchase greener vehicles is one more way we can work together to lower greenhouse gas impacts across the state,” Gov. Inslee said, as he signed the bill. Senator Brad Hawkins sponsored the bill, SB 5000, which creates an eight-year statewide pilot project for the reduction of sales tax on purchases of fuel-cell electric vehicles. “It’s had a long journey through five different committees, but it’s definitely generated a great deal of conversation...

What’s behind the devastating power outages in Texas? Some say the problem was freezing natural gas pipelines; some say it’s because wind turbines froze or mismanagement by the Electric Reliability Council of Texas (ERCOT). To find out what’s going on in Texas, I sat down with Jason Isaac, who predicted a power crisis in Texas months ago. He’s the director of Life:Powered, a national initiative of the Texas Public Policy Foundation seeking to “raise America’s energy IQ.” This is American Thought Leaders, and I’m Jan Jekielek.

The story of how Texas was brought to its knees by crippling cold weather leaving millions without power is a complex one, yet entirely predictable and avoidable. The details matter, so it is important to know the long story, but let’s start with the short version: 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...

Subsidize something — get more of it. Expect the Biden economy to have additional unemployment, increased poverty, and lower incomes for a longer period.resident Biden’s plan for federal coronavirus relief resembles the American Recovery Reinvestment Act (ARRA) signed by President Obama after the 2008 financial crisis. It uses several federal agencies to separately distribute financial assistance to persons unemployed, in poverty, or otherwise with low incomes, on top of the dozens of programs already in place. Predictably, it will result in a disappointing economic recovery as long as it lasts. The plan includes a $100 weekly unemployment bonus, on top...

Editor's Note: This column was authored by Skip Estes. It’s official: football Sundays are back. Last month the Las Vegas Raiders officially unveiled their new, state-of-the-art home at Allegiant Stadium. With a sleek, black 275-foot videoboard that looks like it belongs in the Death Star and a real grass field grown atop a track that allows it to be rolled outside for sun exposure, the facility cost $1.9 billion — a pretty penny. Yet, the Raiders organization is not breaking a sweat over the astronomical cost of their new stadium. Why? Perhaps $750 million in taxpayer dollars has something to do with...

New York Gov. Andrew Cuomo (D) repudiated the state's debt and vowed "not to pay a single cent of it. Every prior president and congress has recognized that New York is America's 'trophy wife' and covered the losses incurred in running this country's greatest state. It is only Trump and the Republicans in congress who are now balking at bearing a burden gladly accepted by both Parties prior to now." The City of New York has a current $9 billion shortfall. The State of New York has a $30 billion shortfall. These gaps were created by the combined profligacy of...

Citing the $15 billion that Broadway show businesses contribute to the New York economy each year, Senate Minority Leader Charles Schumer (D-NY) wants the federal government to dip into the pockets of taxpayers "to make up for the losses that ensued after we ordered these businesses shut down due to the COVID menace." The Senator maintains that "now is no time to argue over whether the shutdowns were necessary. What's already been done cannot be undone. Neither is simply allowing these businesses to decide whether it is safe enough for them to reopen their doors. The idea that a largely...

Farm subsidies are perhaps the ultimate, but secret, third rail of American politics. While entitlements are discussed out in the open, farm subsidies are rarely talked about – even though they are the most expensive subsidy Washington doles out. All told, the U.S. government spends $20 billion annually on farm subsidies, with approximately 39 percent of all farms receiving some sort of subsidy. For comparison, the oil industry gets about $4.6 billion annually and annual housing subsidies total another $15 billion. A significant portion of this $20 billion goes not to your local family farm, but to Big Aggie.