Many outdated federal laws and regulations contribute to increasing regulatory red tape. One example is the ban on exporting domestically produced crude oil. Refined oil such as gasoline is permitted to be exported, but domestic crude oil must be sent to American refineries before it can be sold to other countries.
Not only is electricity purchased from renewable sources by the state’s utilities more expensive than electricity purchased in the wholesale market; California requires utilities to adopt rate structures that raise the price of electricity as consumption increases.
Environmentalists have often referred to fossil fuels as an arcane source of energy, repeatedly predicting an imminent decline due to its finite nature. Yet, as fossil fuels have become less pollutant and increasingly valuable, it appears as though the energy source is here to stay for the long haul.
My most recent article for e21 summarized the 2015 Social Security trustees’ report released last week. This companion piece does the same for the Medicare report. These are the last annual reports in which I participated as a public trustee based on my term that ended last autumn. The Medicare report shows that the program is on an unsustainable path.
Last month the Ex-Im bank’s charter expired after a nearly two-year fight to avoid reauthorization by free-market Republicans. However, their efforts could be for nothing because of Senate Majority Leader Mitch McConnell’s (R-KY) decision to allow an amendment that would reauthorize Ex-Im as part of an essential bill to fund the highway trust fund for the next six years.
Pizza makers could face fines and prison time under a new Food and Drug Administration rule for failing to provide calorie counts for their billions of combinations of pizza orders. Under FDA regulations, chain restaurants, retail stores with 20 or more locations, movie theaters, and vending machines are required to provide calorie information for every menu item. Pizza parlors will be hit hardest because of the unfathomable combinations of pizza that customers can order.
Upon turning 18, Americans are granted a myriad of legal rights and privileges. Aside from various state exceptions, 18-year olds are able to enlist in the army, participate in the political process, and legally enter into binding contracts. Perhaps the only significant exception to this principle concerns the minimum drinking age.