“There’s a long and sad history of efforts by industries and interest groups to reshape the discussion of climate science and undercut the overwhelming evidence that greenhouse gases produced by humans are leading us to global catastrophe.”

– John Schwartz, “How the Riot Ties In with Climate Disinformation.” New York Times, January 13, 2021.

With the election and transfer of power to Biden/Harris, it is climate alarmism galore. The Gods gave us the Pandemic, the landed US hurricanes, and the California wildfires for a reason–to win an election. And the Powers in the sky gave us the Capital riot to help cement the policy momentum of the ‘existential threat.’

Back to the Times‘ Schwartz. “For those of us who cover climate change for a living,” he states,

the blatant lies about election fraud that fed the mob [of January 6, 2021] felt very familiar.

There is no “natural” or geological crisis; there is an enormous political one. It is in the nature of a mixed economy that its policies are rationally inexplicable.

The filling stations of the universities have dried up long ago and have been peddling a corrosive mix that paralyzes the brains of the nation. If you want to fight pollution, start with the philosophy departments; and if you want to refuel–well, look for new sources of energy.

– Ayn Rand, The Energy Crisis, Part I and Part II (November 1973) [1]

Alisa Zinov’yevna Rosenbaum, known to the world as Ayn Rand, was born 115 years ago in Saint Petersburg, Russian. She died in New York City on March 6, 1982. Best known as a novelist, she wrote on contemporary issues later in life.…

“All economic pain and no environmental gain is bad politics coming and going. The Democrats do not seem to want to touch it, if their vote on the Green New Deal was any indication.”

” … history will judge the climate alarm as exaggerated, CO2 as the gas of life, and carbon-based energy and modern living as heaven on earth. Governor Abbott, thank you.”

During the day, Houston, Texas, bustles as the oil and gas capital of the world. The daily business fare as reported by the hometown Houston Chronicle is a new offshore project here, new refinery or petrochemical plant there, new onshore production plays elsewhere.

And then there is a whole new industry within an industry, LNG exports from Texas and Louisiana to distant ports–and even LNG tank cars crossing into Mexico.…

“When President Reagan decontrolled prices in January 1981, the regulatory arbitrage was over…. The strangest regulatory episode in US history was done.”

Economist Robert Murphy has summarized what I believe is the most unique, confounding, consequential regulatory episode in American history in his piece: “The Crazy Crude Oil Price Controls of the 1970s.” [1]

Yes, it happened some decades ago. But if you want to know why no economist in recent history has espoused price controls for crude oil and petroleum products, this experience rings loud today.

Basically, a large group of opportunistic middlemen seized profits that federal price and allocation regulation kept from the rightful industry parties (wellhead producers, in particular). It is the story of the unintended consequences of government intervention. Or entrepreneurial gaming in the face of regulatory constraints (with positive social outcomes in this case)–what Israel Kirzner called superfluous entrepreneurship.…