Creative video from Prof. Bryan Caplan explains Make Progress, Not Work.
[youtube=http://www.youtube.com/watch?feature=player_embedded&v=fEbdgpIQ7n4]
A few highlights:
Background on Bakken and Harold Hamm
Forbes has a superb article on the shale revolution in North Dakota and one of the drivers of said revolution: Harold Hamm: The Billionaire Oilman Fueling America’s Recovery.
For some great background why the Bakken field is producing nine times more oil than five years ago, check out the article.
There is great discussion of Harold Hamm and his role in creating the oil boom.
What has the shale boom done for the US?
Check out the benefits to the US of the shale oil boom: Continue reading “Background on Bakken and Harold Hamm”
Dependence on ‘the rich’ in California tax collections
It has long been known that California is heavily dependent on a ‘soak the rich’ strategy for collecting personal income tax. An article from Capital Journal reprinted in the LA Times (assuming I’m reading the byline correctly) explains the success of soaking some while advocating a change in strategy: Broaden the tax base to ease disproportionate dependence on the rich.
Here’s some info from the article that shows the state’s dependence on ‘the rich.’
Continue reading “Dependence on ‘the rich’ in California tax collections”
N.D. oil production in 3/14 recovering from winter slump
Oil production in North Dakota hit 977,061 barrels per day (bopd) in March. Looking at the top of the trend line takes a bit of care. The initial report for November 2012 was 973,280 bopd. When another dozen wells reported results, the average production was 977,599 in November. The updates increased production data by 4,219 bopd. That means the March data is the record high for the initial report, but is still about 500 bopd behind the updated record high.
Here is a graph of the production with updated data, not the initial reports:
Background info:
Continue reading “N.D. oil production in 3/14 recovering from winter slump”
More good stuff on surveillance – 5/13
We are past the day-by-day dribble of compromised companies and products. The daily revelations of vaporized integrity have slowed to weekly or monthly. What is appearing now is a gradual realization that the companies running the tech we use every day just can’t be trusted, no matter what they say.
Here is my twelfth list of good stuff on our surveillance society that I’d like talk about but only have time to recommend with a quick comment.
3/31 – Schneier on Security – The Continuing Public/Private Surveillance Partnership– Public posturing by tech giants is merely that – posturing. The surveillance continues. There are 4 major sources of authority for the government surveillance.
When a federal player says a particular action isn’t taking place under a particular law, it is probably a true statement. How can that be?
The minimum wage made unemployment worse during the Great Depression
Minimum wage laws also extended the Depression. That from Amity Shlaes, in The Minimum Wage Makes Depressions Worse.
In a lousy economy, forcing wages above the value of the output makes employment worse. When there is currency deflation the effect is compounded. Adding another layer of minimums every couple of years and slowly gathering more employers into the minimum wage rules further compounds the effect.
If you can’t afford the staff you have, and you can’t reduce wages, then what options are left? Lay off more employees. Shrink your company.
Continue reading “The minimum wage made unemployment worse during the Great Depression”
Update on solar and wind power, 5/9 – solar #20
Here’s a few articles on the environmental issues with solar and wind energy. Since the uncontained, unresearched, unquantified environmental damage from slice-and-dicers and wing-toasters is not particularly good, I can’t call this series more good stuff like the other updates on this blog. So here are a few updates including more consequences of wind power, impact of natural gas, and two articles on solar facilities in California:
4/28 – Syracuse, byline AP – 4 dead after small plane crashes into South Dakota wind farm in fog Continue reading “Update on solar and wind power, 5/9 – solar #20”
10 pieces of everyday tech that weren’t around in the ancient days of 1970
Check out 10 Modern Technologies We Lived Without In Primitive, Pre-Millenial America
The change in 40 years, with pictures of the old and new stuff. Remember not having:
- Microwave ovens
- Hair dryers
- Cell phones
- TV remote controls
- Personal Computers (versus a manual typewriter!)
- Video games
- Digital music
- Lead-free paint
- Pocket calculators
- Video cassette recorders
No better time to be alive than today!
(Hat tip – Behind the Black)
Mali and Central Africa Republic update – 5/6/14
A few updates on the conflicts in Mali and Central Africa Republic.
Mali
3/22 – Economist – Hurry up, or it’ll be too late – Continue reading “Mali and Central Africa Republic update – 5/6/14”
More good stuff on the open frontiers in space and technology – 5-5-14
More good stuff on the space and technology open frontiers – SpaceX trying to get some of the military launches, drones in agriculture, and criminals using tech to steal pot and poach rhinos.
Space
4/25 – Popular Mechanics – SpaceX Sues to Break Spy Satellite Launch Monopoly – Continue reading “More good stuff on the open frontiers in space and technology – 5-5-14”
Ethanol makes global warming worse
A new study funded by the federal government reached the conclusion that ethanol made from residue after corn harvesting releases 7% more greenhouse gases that straight gasoline.
The reason for the surprise is that the study considers the ancillary effects of biofuels. For example, when the residual is left on the ground, it improves the soil’s ability to absorb CO2. When the increased CO2 from non-absorption into the ground is considered, biofuels make the environment worse.
You can read more:
- USA Today – Study: Fuels from corn waste worse than gas
- The Times-Picaynne (New Orleans) – Study finds cellulosic ethanol worse for environment than pure gasoline
- The Week – Ethanol from corn waste may be worse for the environment than gasoline
Doubling greenhouse gas
How did we get to the place where we can ask “Why Does 1% of History Have 99% of the Wealth”?
Why we are so much better off than 200 years ago? Explained in 3 minutes. Check out the video by Prof. Dierdre McCloskey:
[youtube=http://www.youtube.com/watch?v=a0nsKBx77EQ&feature=player_embedded]
Here’s my 200 word summary:
Until 1800, the average person made the inflation-adjusted equivalent to $3 a day. It’s been that way for thousands of years. Starting in 1800, a graph of average income looks like a hockey stick, going almost straight up after being flat for thousands of years.
Why?
More good stuff on the open frontiers in energy & education – 4-29
It’s a wide open frontier in energy & education: why shale unlikely to boom elsewhere, U.S. getting greener because of shale, & one stat to show why higher education is in economic distress.
Energy
Continue reading “More good stuff on the open frontiers in energy & education – 4-29”
What a really good Bakken well looks like, or, with these numbers do you really care if a well drops daily production by two-thirds in a year?
If you could make an investment in a productive asset that would have a gross return just under four times your initial amount in 12 months, would you care how quickly the investment fell apart after that?
Let me be more specific. If you could invest $8M in an oil well that produced $30.7M of oil in the first 12 months of production, would you care how fast the production dropped after that? Would you care if the well had that horrid Bakken decline rate?
More good stuff on the open technology frontiers – 4-24
Have lots of articles on the open frontiers to comment on. Will break into several posts. Today, the amazing wide open frontier of publishing:
Publishing
3/25 – Amazon – Reaching for His Dream. At 40. – Mr. Barry Davis had a book in him but devoted himself to getting educated, working as an engineer and raising his children. At 40 he wrote his first book. Nobody in the industry would touch the book.
Why? No audience. Nobody will buy it.
Until….
Continue reading “More good stuff on the open technology frontiers – 4-24”