The release of strategic oil reserves announced by the International Energy Agency will deliver substantially lower US gasoline prices at the pump over the next six months than would otherwise have been the case.
Assuming that world oil prices over the next six months continue to be elevated and volatile, temporarily suspending the federal gasoline tax would deliver substantially lower gas prices at the pump than otherwise over that period.
This installment of the FTxBooth US Macroeconomists Survey discusses economists’ views regarding the rapidly fluctuating price of oil and its affect on the economy at large. The summary results are below and you can read the Financial Times article here, subscription required. View the results of this survey>> For social media: Please use the hashtag […]
It has always been quite hard to square the Trump presidential campaign’s regular focus on ‘affordability’ – or sometimes just ‘the price of eggs’ – with the actions his second administration has embarked on in office. In the view of most economists, the President’s signature economic policy – the imposition of tariffs – makes many […]
Over the last few years global equity market investors, and especially those closely following US markets, have devoted an awful lot of time to thinking about the future of artificial intelligence (AI). The promise of speculator returns, and the potential of large first moved advantages, have seen the price of AI-exposed firms – and in […]
This Finance survey examines: If an AI-driven services productivity boom materializes over the next five years, it will substantially reduce current stock market valuations for firms with a large percentage of white-collar employees
The Clean Air Act is a foundational piece of US environmental legislation and, since 2009, has sat at the core of the government’s approach to regulating harmful emissions, such as carbon monoxide. The Environmental Protection Agency has now revoked its so-called greenhouse gas endangerment finding, potentially leading to a wave of deregulation. As a useful […]
This European survey examines: US regulation of greenhouse gases – including carbon dioxide from motor vehicles and power plants, and methane from oil and gas wells – rests on the Clean Air Act. The Environmental Protection Agency (EPA) recently announced its rescission of the greenhouse gas endangerment finding and motor vehicle greenhouse gas emission standards: https://www.epa.gov/regulations-emissions-vehicles-and-engines/final-rule-rescission-greenhouse-gas-endangerment. The President of the National Academy of Sciences subsequently wrote to the organization's members, noting that 'the EPA justified its decision on legal, economic, and regulatory opinions, and not on the science’. (a) The weight of economic analysis and evidence supports the conclusion that some form of regulation of greenhouse gas emissions is warranted; (b) For US consumers and firms, the health and environmental benefits of greenhouse gas emission standards outweigh the costs, making the EPA rescission substantially net negative for American society; (c) Since the environmental costs of greenhouse gas emissions are globally distributed, some form of collective international regulation is warranted
This US survey examines: US regulation of greenhouse gases – including carbon dioxide from motor vehicles and power plants, and methane from oil and gas wells – rests on the Clean Air Act. The Environmental Protection Agency (EPA) recently announced its rescission of the greenhouse gas endangerment finding and motor vehicle greenhouse gas emission standards: https://www.epa.gov/regulations-emissions-vehicles-and-engines/final-rule-rescission-greenhouse-gas-endangerment. The President of the National Academy of Sciences subsequently wrote to the organization's members, noting that 'the EPA justified its decision on legal, economic, and regulatory opinions, and not on the science’. (a) The weight of economic analysis and evidence supports the conclusion that some form of regulation of greenhouse gas emissions is warranted; (b) For US consumers and firms, the health and environmental benefits of greenhouse gas emission standards outweigh the costs, making the EPA rescission substantially net negative for American society; (c) Since the environmental costs of greenhouse gas emissions are globally distributed, some form of collective international regulation is warranted
Your columnist’s first job after graduating from university was working in the team at the Bank of England that compiled and analysed the UK’s monetary aggregates. This was, sadly for him, in the days before the Global Financial Crisis and the subsequent birth of quantitative easing as a major tool of policy revived – at […]
