Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Obama halts US drilling in Chukchi Sea
Howard Richman, 4/7/2010
Investor's Business Daily has been following the story. In a May 29, 2009, editorial they reported:
Back in July, when IBD first interviewed the then-little-known governor, Palin emphasized developing Alaska's Chukchi Sea resources. Under those icy waters, it was then believed, was enough oil and gas to supply America for a decade.
"It's a very nonsensical position we're in right now," Palin told us. "(We) ask the Saudis to ramp up production of crude oil so that hungry markets in America can be fed, (and) your sister state in Alaska has those resources."
At the time, it was thought that Chukchi's waters northwest of Alaska's landmass held 30 billion cubic feet of natural gas.
Today, Science magazine reports that the U.S. Geological Survey now finds it holds more than anyone thought — 1.6 quadrillion, or 1600 trillion cubic feet of undiscovered gas, or 30% of the world's supply and 83 billion barrels of undiscovered oil, 4% of the global conventional resources.
That's enough U.S. energy to achieve self-sufficiency and never worry about it as a national security question again....
China agrees to modify export subsidies
Howard Richman, 1/4/2010
According to United States Trade Ambassador, Ron Kirk, China has agreed to eliminate or modify its export subsidy program. His office reports:
"I am very pleased that today we have signed an agreement with China confirming full elimination of the numerous subsidies we identified as prohibited under WTO rules. This agreement demonstrates President Obama's commitment to ensuring that American workers, farmers, ranchers, manufacturers, and producers get a fair chance to compete for business around the world, to sell more goods to global consumers, and to bring jobs and other benefits of our trade agreements back home," said Ambassador Kirk. "This outcome represents a victory for the full spectrum of U.S. manufacturers and their workers, given the reach of these Chinese industrial policy initiatives. We are pleased that the WTO dispute settlement mechanism has worked as intended, enabling the parties to reach an appropriate resolution," Ambassador Kirk added.
China's actual actions, however, may not be so sweeping. The same article also reports:
Under the agreement, China confirms that it has taken steps either to eliminate the measures of concern or to modify them to remove any provisions related to export-contingent brand designations and financial benefits.
Archive Sep 2010
- Pretend Free Trade vs. Balanced Trade -- The national debate kicked off on FoxNews yesterday
- The Greek Crisis Reveals the Fatal Weakness of the Euro and the Gold Standard
- Tom Goergen foresees the coming financial crisis
- Deficit Commission should address both deficits
- China raises its tariff on some US nylon products to 96.5%
- Why Financial Reform Now? Why Not a Bill That Creates Jobs?
- Why we should tax interest earned by foreigners in the United States
- Congress passes foolish tax change that will increase US trade deficits
- Congress Caused This Depression. Not Wall Street. Not the Banks
- China's temporary trade deficit largely due to stockpiling of commodities
- Geithner will Punt on China Currency
- Boston Globe spins nuclear summit as success
- Obama bows as Chinese President Hu stiffs him
- U.S. Trade Deficit up in February
- The FairTax Solution
- Smoot-Hawley did not cause the Great Depression
- The Greek and the American Financial Crises -- Similarities and Differences.
- Obama adopts Bush's losing strategy in Afghanistan
- Obama halts US drilling in Chukchi Sea
- Charleston Post Courier editorial advocates Buffett's Import Certificates to balance trade
- NPR explains Chinese currency manipulation
- Obama punts on Chinese currency manipulation
- Good joke in today's American Thinker
- China's multiple barriers to American products
- American Economic Alert
- Angry Bear Blog
- Economy in Crisis
- Econbrowser
- Levy Economics Institute
- McKeever Institute
- Michael Pettis Blog
- Naked Capitalism
- Natural Born Conservative
- Science & Public Policy Inst.
- TradeReform.org
- What's Up With That
Wikipedia:
- [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]
Journal of Economic Literature:
- [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....
Atlantic Economic Journal:
- In Trading Away Our Future Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]
Apr 2010
February 2010
January 2010
Categories:
Book Reviews
Capital Gains Taxation
Corporate Income Tax
Consumption Taxes
Economy - Long Term
Economy - Short Term
Environmental Regulation
Trade Miscellaneous
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