Small Oklahoma town thwarts OPEC

4565921057_c433829383_mCushing, Oklahoma, is a town of about 7,000 close to where we live.  What makes it notable is that several oil pipelines cross there.  Which has led to the construction of massive oil storage facilities where production companies can park their oil until it’s needed.

The big OPEC producers, led by Saudi Arabia, have made a deal with non-OPEC producers, such as Russia, to cut back production in an attempt to drive up prices.  But because Cushing has built up such a big supply, prices are staying low despite the cutback.

Bloomberg has a story about the global economic impact of this small town.

Now if Cushing and thus the world’s oil supply can only avoid damage from the earthquakes they’ve been having.  On November 6, Cushing had a 5.3 magnitude quake that did some serious damage to the downtown, though the pipelines and storage tanks were spared. [Read more…]

Trump is already keeping jobs in U.S.

Defense.gov_photo_essay_080118-D-7203T-043Donald Trump is already fulfilling his campaign promise to keep jobs in America.  The air-conditioning manufacturer Carrier will keep 1,000 jobs in Indiana, rather than moving them to Mexico as planned.  Trump pulled this off with personal negotiation and promises of tax relief (as well as state subsidies from Vice-president-elect Mike Pence’s Indiana).

Some liberals are pooh-poohing the deal, saying that the deal favors big business with the tax breaks and subsidies.  So they would rather the 1,000 workers lose their jobs than help businesses.  This is the attitude among Democrats that elected Donald Trump.

Trump has also talked with Ford, securing a commitment not to shift more production to Mexico for the time being (though some say the company wasn’t going to do this anyway).  And even Apple has been persuaded to investigate making iPhones in the United States instead of China.

During his campaign, Trump proposed charging a 35% tariff when companies that relocate production in other countries bring their wares to sell in the United States.   [Read more…]

Vast oil deposit discovered in Texas

Geologists have found a site in the Permian Basin in Texas that holds some 20 billion barrels of oil.  The entire area may hold 75 billion barrels, making it the largest unconventional deposit in the United States, and the second in the world, next only to the Ghawar field in Saudi Arabia.

The oil is in shale and will take fracking.  This will bother some people.  Does it bother you, or do you see this discovery as a big economic shot in the arm for the country?
[Read more…]

How China is buying up Hollywood

During the Cold War, some Americans were worried that Communists were infiltrating the motion picture industry, so as to influence the West with their Marxist propaganda.  Today, Communists are taking an easier route.  They are just buying the industry.

Government-connected Chinese investors have recently bought AMC Entertainment, Legendary Entertainment studios, Carmike Cinemas, Dick Clark Productions, and have formed a partnership with SONY.  The Chinese are also buying up movie theater chains in Australia and Europe.

Chinese spokesmen are denying that anything nefarious is going on, but China, with its hybrid ideology of Communism plus money-making, is a heavy censor of its own film industry and already influences Hollywood by refusing access to its lucrative market for films that show China in a bad light.

Then again, the Left already dominates Hollywood, so maybe we won’t see so much change after all.

[Read more…]

Liberalism of the left & liberalism of the right

The well-regarded ethicist Stanley Hauerwas reviews a new book by John Milibank, of “radical orthodoxy” fame.  Entitled The Politics of Virtue, Milibank argues that both today’s liberals and conservatives are essentially liberals.  Both sides are fixated on “freedom,” whether sexual freedom or economic freedom, to the exclusion of other things needed for a good society (such as virtue).  Milibanks goes on to argue for a “post-liberalism.”

Read Hauerwas’s discussion and interaction with the ideas after the jump. [Read more…]

Don’t know much about history

A study has found that quite a few young Americans are open to Communism.  And one out of three believe that George W. Bush killed more people that Josef Stalin.  See the specifics here.

Read a report on the findings after the jump, whereupon I will try to explain why this is. [Read more…]