oil prices

The Rout of Oil

Scott McKay, The American Spectator

Lifting the national economic lockdown is the only thing that will really restore function to the oil markets. As to the future of the two million jobs the domestic oil industry supports, and the global leadership American oil had assumed until the collapse of the past six weeks, that’s a lot murkier. Practically free oil is the death knell of renewable energy and makes obsolete every one of the draconian and ridiculous enviroloon policies the AOC's of the world espouses. Here’s hoping the shock of the oil rout knocks the stupid off a sizable chunk of our political leadership and gets America back to work before there is nothing left of our economy.

Save our energy industry by slashing royalty payments and energy taxes now

Stephen Moore, Washington Examiner

We could slash the taxes paid by our onshore drillers and royalties on drillers in the Gulf of Mexico and on federal lands. These royalties paid to Uncle Sam can range from a "tax" of between 12% and 18.5%. Ending the royalties through the end of the year would lift the after-tax price paid to drillers by as much as $5 a barrel. This would apply to about 4 million barrels of oil per day on federal properties. The feds now collect about $6 billion a year in royalties. Canceling those payments would be a small price to pay to save an industry that employs several million workers. Under federal law, the president has the executive authority to take this action.

As Nicolas Maduro and Socialism Destroy Venezuela, Its People Must Restore Democracy

Venezuelans have been seeking to rid themselves of Maduro's criminal elite. However, President Trump's comment that, “We have many options for Venezuela, including a possible military option if necessary,” did not help their cause.

The Fracking Industry Deserves Our Gratitude

Victor Davis Hanson, National Review

When OPEC and other overseas producers tried to bankrupt frackers by flooding the world with their supposedly more cheaply produced oil, the effort backfired. American entrepreneurs learned to frack oil and natural gas even more cheaply and undercut the foreign gambit. The result is a windfall for all sectors of the American economy.

With New Crown Prince, Saudi Arabia Rewards Repression and Aggression

Although heralded as a “modernizer,” 31-year-old Crown Prince Mohammed bin Salman is the architect of Riyadh’s disastrous attack on Yemen. Prince Salman’s recklessness is likely to draw the U.S. more deeply into destabilizing regional conflicts.

Kuwait Needs Economic Reform, But Democracy May Say No

Kuwait is one of the freest nations in the Persian Gulf, as well as one of America’s best friends. Yet its “liberalish” governance, as one Kuwaiti colleague described it, ironically impedes the adoption of market-oriented economic reforms necessary for the country’s prosperity.