5/14/2008
"The House and Senate voted overwhelmingly Tuesday to temporarily stop filling the Strategic Petroleum Reserve, a response to public anger over rising oil prices as the average price of regular unleaded gasoline nationwide hit a new high of $3.73 per gallon." (San Francisco Chronicle, Wednesday)
The government shouldn't be stockpiling oil anyway.
FEE Timely Classic
"The Sustainable -- and Young -- Hydrocarbon Energy Age" by Robert L. Bradley, Jr. Recession Not a Sure Thing, Economists Say
5/14/2008
"A funny thing happened to the economy on its way to recession: It's taken a detour. That, at least, is the view of a growing number of economists -- including some who not long ago were saying a recession was all but inevitable. They note that stock and credit markets have steadily improved since the Federal Reserve intervened to keep Bear Stearns Cos. from bankruptcy in early March, while a series of economic reports have been stronger than expected." (Wall Street Journal, Wednesday)
Has the day of reckoning been put off?
FEE Timely Classic
"The Economy Is Cyclical? It Just Ain't So!" by Roger W. Garrison Wal-Mart's Toy Standards Outpace Government's
5/14/2008
"Wal-Mart Stores Inc., the world's largest toy seller, has ordered its suppliers to meet a new set of children's-product safety requirements by this fall that goes far beyond existing government regulations. The standards include strict limits for lead and a broad array of other heavy metals and chemicals that have been linked to various medical and developmental problems in children." ( Wall Street Journal, Wednesday)
The profit motive at work.
FEE Timely Classic
"The Self-Interest of Self-Regulation" by J. Brian Phillips
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