Submitted by CARPE DIEM
To address rising oil and gas prices, there’s not much we can do about rising global demand, but we can do a lot to increase supply. Cato Institute’s Jerry Taylor outlines 4 ways to increase domestic supplies of oil and gas in today’s NY Post:

1. Open up key areas for oil and […]

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Submitted by A Dash of Insight
Today’s ISM number for May came in at 49.6, slightly below the level indicating expansion in manufacturing, but a touch better than expectations.  Is the ISM report important?  We’ll look first to news reports and pundits, and then provide our own take.
News Interpretations
Bloomberg gave a balanced account, noting economic forecasts […]

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Submitted by Econbrowser
The White House today cited the 2006 Treasury Report in its “Pro Growth Tax Policy” information sheet. From the website:

…
3. Benefits of Making the Tax Cuts Permanent
The 2001 and 2003 tax cuts are currently scheduled to expire at the end of 2010. This scheduled expiration limits their beneficial impact on the economy, […]

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Submitted by CARPE DIEM
The chart above shows the one-year forward premium or discount for the USD vs. the British Pound (BP) and the euro, on the first trading of June in 2006, 2007 and 2008 (data available here). Compared to two years ago when the dollar was selling at a forward discount versus both the […]

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Submitted by CARPE DIEM
The global oil flow map tells an interesting story: The U.S. sucks in oil from oil-producing countries around the world on five continents, despite the fact that it has much of its own domestic energy resources that are currently off-limits. Then when demand for oil increases in emerging markets like Russia, […]

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Submitted by CARPE DIEM
A new oil refinery has not been built in the United States since 1976. During that time, our gasoline use has increased over 25%. The nation’s 149 existing refineries have been running at maximum capacity trying to meet record demand and, as a result, not only do we import oil, we actually […]

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