I‘ll be traveling most of the day, but I have to tell you that I thoroughly enjoyed meeting up with “Pogue Mahone” from our comment section.
We had a fantastic time. Great discussion and enough humor that my ribs hurt when I got back to my room.
More on it later (with a pic as soon as the photographer in question sends it to me), but in the meantime, thanks Pogue!
Dale makes an incredibly important point about investment below – investors aren’t going to commit their money to industries which are being manipulated by government for political goals and payoffs.
And, the Wall Street Journal makes a similar argument about corporate taxation and the Obama administration’s apparent plan to compound the problem he hopes to “deincentivize” by driving both investors and US companies off shore..
The energy picture is no rosier. Because there is no comprehensive and clear-cut, long-term energy plan from government, and because it is clear to many that the present administration’s plans for energy involve achieving political goals dictated by government vs. a straight market based plan which would see decentralized signals and decisions determine the energy future, investors are sitting on the sidelines. As Sen. Murkowski said, too many in national government today see the energy sector, and especially the oil and gas industry, as an “ATM to pay for other programs”.
When government is so deeply involved in picking winners and losers, investors are not going to invest. Especially given the example of the car and financial industries.
You can guess what that means in terms of economic recovery, not to mention economic growth. Investment is the engine of economic growth. Without it, nothing sustainable happens. Government can make all the make-work jobs in the world, but until investors commit to the economy, we only mark time economically speaking. If anything government should create a climate that provides incentives for private investors – low taxes, favorable investment rules, etc. to encourage investors to risk their money here in the US.
Instead, we have at least three critical areas where government intrusion and manipulation is having exactly the opposite effect.
Here at the Offshore Technology Conference in Houston, we were able to hear from a very distinguished panel concerning the energy “debate”. I put the word “debate” in scare quotes because it seemed that the consensus of the panel was there really isn’t a productive debate going on.
Roger Ballentine of the Progressive Policy Institute says that the two sides are talking past each other with little real effort to engage in anything which would actually address strategic energy policy.
Sen Lisa Murkowski, addressed the audience by video and spoke of a “comprehensive” plan which would include all types of energy, obviously including oil and gas. She spoke of a “scarcity of will” on the part of Congress to aggressively go after our own natural resources and cited the Gulf of Mexico as an example. There, she said, lays 45 billion barrels of oil and 320 trillion cubic feet of natural gas that we seemingly refuse to tap.
Yet as API’s President and CEO, Jack Gerard pointed out, when polled 67% of the American public want the exploitation of the oil and gas assets to be found on the Outer Continental Shelf (OCS), and that last week the Florida House passed a bill authorizing drilling off the coast of Florida by a 70-43 margin. That is a huge margin and speaks loudly about the public’s sea change in attitude concerning offshore drilling.
But it seems like no one in power in Washington is listening. And that brings us to the second point this panel made – it is necessary to engage the public/consumer and get them involved in this debate. It is they who will live with and pay for whatever Congress cobbles together regarding energy policy. So far, however, the only thing that has accomplished that level of public engagement is the price of gasoline at the pump. When it was at $4 a gallon, the public emphatically weighed in saying “this is unacceptable” and “do what it takes to fix it (to include drilling in the OCS). Since the price of gas has retreated, to be replaced by the economic recession, the public’s attention has been diverted elsewhere.
But we’re at a critical juncture right now. Legislation is being written and moved ahead within the Congress even while panelists in Houston on both sides of the political spectrum are saying the debate needs to begin in earnest, in a bi-partisan and productive way and the public needs to be engaged.
This was a wide ranging panel and I took 16 pages of notes. This particular post covers 2 of them at best. However this gives you a sense of the frustration to be found among those there representing government, industry and think tanks. Both sides of the broad political spectrum on the panel agreed that the bi-partisan “civil discourse” that would move this sort of policy forward in a positive way doesn’t at present exist even while the legislation outlining future policy is being written.
I’ll have much more to say about this as I wade through the pages of notes I took, but this suffices to give the general impression of where we are when it comes a well thought out and comprehensive strategic energy policy. In a word, nowhere. I’ll get into the “why” of that (“climate change” is the “cultural wedge” that is being used to muddy the energy debate), and the implications in another post.
For any Q and O readers in the Houston area – meeting at the Flying Saucer at 5pm today. Come by and have a beer.
Or so it would seem. 11 students gather at a friend’s apartment for a birthday celebration. Two armed masked men burst in:
Bailey said he thought it was the end of his life and the lives of the 10 people inside his apartment for a birthday party after two masked men with guns burst in through a patio door.
“They just came in and separated the men from the women and said, ‘Give me your wallets and cell phones,’” said George Williams of the College Park Police Department.
Bailey said the gunmen started counting bullets. “The other guy asked how many (bullets) he had. He said he had enough,” said Bailey.
That’s when one student grabbed a gun out of a backpack and shot at the invader who was watching the men. The gunman ran out of the apartment.
The student then ran to the room where the second gunman, identified by police as 23-year-old Calvin Lavant, was holding the women.
“Apparently the guy was getting ready to rape his girlfriend. So he told the girls to get down and he started shooting. The guy jumped out of the window,” said Bailey.
Lavant was found dead near his appartment. Apparently he lived in a neighboring building.
The student hasn’t been identified, but when you have armed, masked men counting bullets to ensure they had enough, I think I’d have probably reached the same conclusion as he did. And, for a change, the story ends with someone successfully defending themselves because they were armed instead of being victims in some “gun free zone”.
One of the things I try to do is take a look at stories and decide whether or not there’s enough there to blog about it. And part of that has to do with corroboration. When I first saw the story about the Obama White House allegedly threatening a Chrysler stakeholder during negotiations that eventually broke down, I wondered if perhaps that particular person might have been a little over sensitive or misinterpreted the situation. But it was interesting and something worth watching.
Today comes some corroboration making this a good blog story. Although the story uses anonymous sources, it uses multiple sources, and the reason for the anonymity should be obvious.
Although the focus has so been on allegations that the White House threatened Perella Weinberg, sources familiar with the matter say that other firms felt they were threatened as well. None of the sources would agree to speak except on the condition of anonymity, citing fear of political repercussions.
The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking “end justifies the means” group they have ever encountered. Another characterized Obama was “the most dangerous smooth talker on the planet- and I knew Kissinger.” Both were voters for Obama in the last election.
One participant in negotiations said that the administration’s tactic was to present what one described as a “madman theory of the presidency” in which the President is someone to be feared because he was willing to do anything to get his way. The person said this threat was taken very seriously by his firm.
The White House has denied the allegation that it threatened Perella Weinberg.
Is this true? Well, at this point, it is more true than it was when Perella Weinberg was the only one reporting it.
Is this good? No. If true, this demonstrates an abuse of power that has no place in government at any level. While we all understand politics isn’t bean-bag, threats to use political power (not legal power, but the power of the bully pulpit and vilification) in this manner are simply unacceptable.
Again, the more I monitor this and the more I read, the more I believe this may have happened. I’d like to see the anonymous sources step up and identify themselves. Yeah, I know it takes a certain level of courage, but this is one of those “nip it in the bud” moments.
And I’d expect the left to be just as loud in its denunciation of this sort of abuse of power as they were the last 8 years when executive power abuse was a focus of their outrage with the Bush administration.
I assume the reason for their outrage was the alleged abuse, not the politics of the abuser.
Interesting term being thrown around to describe the emerging “new media” alignment:
I recently heard the term “Fifth Estate” used at a Poynter conference to describe an emerging landscape for news, information, community and citizenship. It has also been used to describe the work of bloggers, but that circle may be too small for such a big term.
In my head, the Fifth Estate includes the Fourth Estate, the idea and value of a professional press corps as a way of informing and engaging the populace, and holding the powerful accountable. This vision of a Fifth Estate sees the Fourth Estate as necessary but insufficient for democratic life. The Fifth Estate could express what Jay Rosen has described as a “pro-am” model for the future of news, a frame that sees that the freedoms and responsibilities of the First Amendment empower not just a professional caste of news gatherers and distributors, but potentially every citizen.
I think it needs some tweaking but essentially, what was the “fourth estate”, i.e. professional journalism with a relative monopoly on the news reporting function (they still mostly enjoy a monopoly on the news gathering side although that is changing too) has now become what Rosen describes as “pro-am” in some fairly telling ways.
This trip I’m on, for instance, has driven that point home. Yesterday, I stood beside a reporter from Forbes and Reuters in a couple of exclusive press conferences and asked questions after a panel discussion that included the folks I mentioned yesterday. I was joined by 10 other bloggers. In my estimation our questions were more pointed and dug deeper than did those of the news organizations. It was an interesting experience. The guy from Forbes thought it was cool. They guy from Reuters didn’t. That’s pretty much indicative of the “MSM’s” perception of bloggers I think – but the interesting thing was my press credentials were just as valid as theirs. Heh …
Anyway, as I told one of the MSM members yesterday as we chatted, I’m not a journalist and will never pretend to be. I write opinion pieces, and I don’t pretend to be “fair and balanced” . I also said I thought that there was room for both of us in all of this to which he agreed. And, as I pointed out, blogging seems to have become pretty mainstream since most newspapers now have journalists blogging on site.
I really haven’t had a chance to put my thoughts together on the 3 hour panel we sat in on yesterday, but the short version of it was “hey, we need to have a non-partisan dialog about energy planning and we need to find a way to engaged the consumer in the conversation” all the while also saying, “legislation is heading down the track like a freight train and it isn’t very well thought out”.
Anyway, more today if I get the chance.
That problem would be putting up with me for 4 days.
I’m in Houston at the invitation of the American Petroleum Institute (who is kindly picking up the tab) to cover the Offshore Technology Conference here. About 75,000 oil folks are converging on the place for 4 days of conferences and panels on various topics.
Today, the “Meeting The Energy Challenge” panel meets and it should be interesting. We’ll have the president of Shell Oil, a Senior Fellow of the Progressive Policy Institute, the president of the API, the presidents of the American Trucking Associations and Air Transport Association, the president of the Consumer Energy Alliance, the Executive Director of the National Council on Energy Policy and Rep. Shelia Jackson Lee (D-TX) and Sen. Lisa Murkowski (R-AK) here to talk about that – I’m looking forward to it.
And Pogue – if you read this and can respond, yes, I will be glad to buy you a beer – just let me know when (other than monday night) we can do it prior to Thursday before I fly out.
Personally I find this mighty funny. Arlen Specter on Meet the Press with David Gregory:
Gregory: It was reported this week that when you met with the President, you said, “I will be a loyal Democrat; I support your agenda.” Let me test that on probably one of the most important areas of his agenda and that’s healthcare. Would you support healthcare reform that puts up a government-run public plan to compete with a private plan issued by a private insurance company.
Specter: No. And you misquote me, David. I did not say I would be a loyal Democrat. I did not say that. And last week, after I said I was changing parties, I voted against the budget because the budget has a way to pass healthcare with 51 votes,which undermines a basic Senate institution to require 60 votes to impose cloture on key issues.
You know, I’ve seen some pathetic politicians in my time, but there are few that rival Arlen Specter. My guess is he ends up in a Democratic primary and looses that. From RINO to DINO, it’s clear that the only thing Arlen Specter stands for is Arlen Specter. Personally I think the Republicans should send the Democrats a thank you card for taking him off their hands.
In this podcast, Michael, and Dale discuss the resignation of Justice Souter, California’s Ballot Propositions, and the events in Pakistan.
The direct link to the podcast can be found here.
The intro and outro music is Vena Cava by 50 Foot Wave, and is available for free download here.
As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Podcast Alley. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here. For podcasts from 2005 to 2007, they can be accessed through the RSS Archive Feed.