here’s the key paragraph from my post two weeks ago explaning what it’s about…:
but even with all the oil and products that we’re importing, there’s been an ongoing push by the frackers and their supporters to end the federal ban on crude oil exports, which was instituted in 1975, at a time when our production started to slip and domestic shortages developed…the reason the oil industry wants to export crude, even though we’re importing so much, is simple; international oil prices have been running between $5 and $10 a barrel more than US oil prices…so if they’re able to sell their crude overseas (Canada and Mexico are exempt from the ban), US prices for oil will quickly jump to the international price, and we’ll be paying 10% to 20% more for our oil products than we otherwise would if our market remained protected…a bill to lift the ban has passed the U.S. House, and a similar bill cleared the U.S. Senate Energy Committee in July, and it will probably be taken up when the Congress returns from recess after Labor Day…a new report, published Friday by the Center for American Progress, predicted that US oil drilling and production will increase if the export ban ends, and that an average of 26,385 new oil wells would be drilled in the U.S. each year between 2016 and 2030 if the ban is lifted, 7,600 more wells per year than would be drilled otherwise…as a result, an additional 137 square miles of land would be developed for oil each year…over 15 years, that would be 2,055 more square miles of oil drilling sites than we’d otherwise see, for a total drilled out and newly fracked area more than 60% larger than the area of the state of Rhode Island…so if we want to save ourselves from that dystopian future, we’d better start pushing back against the frackers on this oil export issue now..
Kind of a long post but one that I am particularly proud of. To make a long story short, the argument is that there is a structural homology (not just an analogy) between the pathologies of antebellum Southern slavery and Late Capitalism that propels a reactionary politics modeled on confederate, white supremacist ideology.
Two predominant features are the 1. hypertrophy of “factitious values” that arise not from economic utility but from prestige associated with certain forms of property ownership and 2. the widespread dependence on cost-shifting for environmental externalities that affords a large population “subsistence without [arduous] toil”
it appears that i have inadvertently started a petition:
https://community.sumofus.org/petitions/stop-the-exports-of-crude-oil
here’s the key paragraph from my post two weeks ago explaning what it’s about…:
but even with all the oil and products that we’re importing, there’s been an ongoing push by the frackers and their supporters to end the federal ban on crude oil exports, which was instituted in 1975, at a time when our production started to slip and domestic shortages developed…the reason the oil industry wants to export crude, even though we’re importing so much, is simple; international oil prices have been running between $5 and $10 a barrel more than US oil prices…so if they’re able to sell their crude overseas (Canada and Mexico are exempt from the ban), US prices for oil will quickly jump to the international price, and we’ll be paying 10% to 20% more for our oil products than we otherwise would if our market remained protected…a bill to lift the ban has passed the U.S. House, and a similar bill cleared the U.S. Senate Energy Committee in July, and it will probably be taken up when the Congress returns from recess after Labor Day…a new report, published Friday by the Center for American Progress, predicted that US oil drilling and production will increase if the export ban ends, and that an average of 26,385 new oil wells would be drilled in the U.S. each year between 2016 and 2030 if the ban is lifted, 7,600 more wells per year than would be drilled otherwise…as a result, an additional 137 square miles of land would be developed for oil each year…over 15 years, that would be 2,055 more square miles of oil drilling sites than we’d otherwise see, for a total drilled out and newly fracked area more than 60% larger than the area of the state of Rhode Island…so if we want to save ourselves from that dystopian future, we’d better start pushing back against the frackers on this oil export issue now..
Confederate Ideology
http://econospeak.blogspot.ca/2015/09/the-confederate-ideology-at-this-cost.html
Kind of a long post but one that I am particularly proud of. To make a long story short, the argument is that there is a structural homology (not just an analogy) between the pathologies of antebellum Southern slavery and Late Capitalism that propels a reactionary politics modeled on confederate, white supremacist ideology.
Two predominant features are the 1. hypertrophy of “factitious values” that arise not from economic utility but from prestige associated with certain forms of property ownership and 2. the widespread dependence on cost-shifting for environmental externalities that affords a large population “subsistence without [arduous] toil”
Sandwichman:
I will have to stop by and read what you have there. Sounds interesting, we probably should post it over here too. I always like controversy.
Nice guys finish first at least for international trade: http://www.nakedcapitalism.com/2015/09/soft-power-raises-exports.html
Being a jerk turns out to be bad for business. Who could have guessed?