Good Analysis of California vs. Texas Oil & Gas Policies

Well written article comparing the effects of Oil & Gas policies in California and Texas.  Worth reading.

California Vs. Texas: Oil And Natural Gas -- Comparing The Two States 1 In 5 Americans Call Home

Policy matters.  Even if a nation or state is endowed with significant natural resources, history shows that tax rates, regulatory burdens and rule of law largely determine whether those resources are harnessed or remain idle.  Good policies and honest government are why resource-poor nations such as Japan and Singapore far outperform nations with vast natural resources.

Nowhere is the effect of government more apparent than in the recent history of oil and gas production in California and Texas.

... In an August interview with the Houston Chronicle, Occidental’s CEO Vicki Hollub was asked about how the firm she leads was able to prosper during the downturn in oil prices.  She responded, “…we exited low-margin, low-return businesses… we spun off California.”

... The net result of California’s policies is that it must import more of its energy, with much of the shortfall coming in by supertanker, a mode of transportation that carries greater risks to the environment than locally produced oil and gas.

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2 hours ago, Tom Kirkman said:

Policy matters.  Even if a nation or state is endowed with significant natural resources, history shows that tax rates, regulatory burdens and rule of law largely determine whether those resources are harnessed or remain idle.  Good policies and honest government are why resource-poor nations such as Japan and Singapore far outperform nations with vast natural resources.

A fun question to ask liberals: "Central and South American countries have the same abundant natural resources as the US on top of a centuries-long head start.  Why are they not richer than us?" 

Answer: because they didn't prioritize wealth.  You reap what you sow.  

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On 10/29/2018 at 10:15 PM, mthebold said:

A fun question to ask liberals: "Central and South American countries have the same abundant natural resources as the US on top of a centuries-long head start.  Why are they not richer than us?" 

Answer: because they didn't prioritize wealth.  You reap what you sow.  

Extraction based economies tend to not do well. The trickle down rarely trickles very well.

Look at two early economic superpowers, England and Japan, they lacked enough resources, and that drove productivity. Import the cheap stuff and then do something with it.

Of course the ideal situation is a mix, and the USA is unusually blessed in human capital and natural resources. Human capital is, in the end, more important than natural resources. 

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57 minutes ago, John Foote said:

Extraction based economies tend to not do well. The trickle down rarely trickles very well.

Look at two early economic superpowers, England and Japan, they lacked enough resources, and that drove productivity. Import the cheap stuff and then do something with it. 

Of course the ideal situation is a mix, and the USA is unusually blessed in human capital and natural resources. Human capital is, in the end, more important than natural resources. 

There's nothing preventing a resource rich country from saving, investing, and developing skills.  They simply chose not to.

I recall reading an article about how both Americans and Mexicans were worried about NAFTA, but for different reasons.  Americans were concerned about falling wages; Mexicans about losing their siestas.  That's a stark cultural difference, and it's easy to see how one would surpass the other in material success. 

It's time to stop making excuses for lazy cultures. 

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16 hours ago, mthebold said:

There's nothing preventing a resource rich country from saving, investing, and developing skills.  They simply chose not to.

I recall reading an article about how both Americans and Mexicans were worried about NAFTA, but for different reasons.  Americans were concerned about falling wages; Mexicans about losing their siestas.  That's a stark cultural difference, and it's easy to see how one would surpass the other in material success. 

It's time to stop making excuses for lazy cultures. 

Just an observation. For whatever the reason, extraction economies traditionally don't benefit the overall country well. What happens to the average lottery winner? Stories over and over again of how they fail. I'd still like to win and prove it wrong.

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On 2/6/2019 at 2:42 AM, mthebold said:

It's time to stop making excuses for lazy cultures. 

Yes, here in the West we need to come to terms with reality and get competetive again.... We need to quit virtue signalling and other excuses like blaming it on illegal immigration. There is nothing stoppping US or Europe from implementing an instant ID for all employees. The tech to do it is here - we could make 80% dent in illegal employment immediately. 

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1 hour ago, Rasmus Jorgensen said:

Yes, here in the West we need to come to terms with reality and get competetive again.... We need to quit virtue signalling and other excuses like blaming it on illegal immigration. There is nothing stoppping US or Europe from implementing an instant ID for all employees. The tech to do it is here - we could make 80% dent in illegal employment immediately.  

In America, illegal immigration isn't an excuse.  Introducing millions of laborers to the market tore the bottom out of wages, which makes it remarkably difficult for US citizens to save money, pay for education, afford quality food, etc. 

You haven't seen it yet where you live, but just wait: with enough people entering your country, markets will be disrupted, culture will change, and the functional state you've built will begin to tear itself apart. 

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8 minutes ago, mthebold said:

 

In America, illegal immigration isn't an excuse.  Introducing millions of laborers to the market tore the bottom out of wages, which makes it remarkably difficult for US citizens to save money, pay for education, afford quality food, etc. 

You haven't seen it yet where you live, but just wait: with enough people entering your country, markets will be disrupted, culture will change, and the functional state you've built will begin to tear itself apart. 

Just do follow @John Foote and @Boats suggestion - go after the employers. Easy and simple to do. take away demand and supply leaves. Textbook capitalism. 

The wall is symbol that detract attention from the real solution. We have similar issues in Europe. 

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1 hour ago, Rasmus Jorgensen said:

Yes, here in the West we need to come to terms with reality and get competetive again.... We need to quit virtue signalling and other excuses like blaming it on illegal immigration. There is nothing stoppping US or Europe from implementing an instant ID for all employees. The tech to do it is here - we could make 80% dent in illegal employment immediately. 

You make a strong point, Rasmus.  Fact is, not since I worked on farms or cutting neighbor's grass 35+ years ago have I NOT had to have a company issued ID that used my government issued Social Security Number (SSN) for reference.  The company ID MUST BE WORN AT ALL TIMES when at work.  When I visit other companies, I MUST TURN IN MY PHOTO ID TO SECURITY AND WEAR THEIR SECURITY ISSUED TEMPORARY ID.  I would surmise that every reader on this site is quite familiar with these requirements and are or have been subjected to the same.  Why the hell can we NOT enforce this standard for all employers/employees?  There is no reason other than employers and employees that want to skirt the law that "burdens" them, whether that be immigration or taxation or even child support for that matter.  Let's get on with it and take this part of the debate off the table.  Until we do, it is just conjecture and scaremongering to benefit illegal practices.

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1 hour ago, Rasmus Jorgensen said:

Just do follow @John Foote and @Boats suggestion - go after the employers. Easy and simple to do. take away demand and supply leaves. Textbook capitalism. 

The wall is symbol that detract attention from the real solution. We have similar issues in Europe. 

Going after employers only solves one type of illegal immigration: those who enter for jobs.  There are two others America also must deal with:
1) Asylum seekers who leech off public services and, once they've claimed asylum, are remarkably difficult to get rid of.  Quite frankly, these should be made to stay in and fix their own countries.
2)  Drug traffickers. 

The wall addresses the latter two.  Walls are quite effective, which is why the border patrol keeps requesting them. 

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12 minutes ago, mthebold said:

Going after employers only solves one type of illegal immigration: those who enter for jobs.  There are two others America also must deal with:
1) Asylum seekers who leech off public services and, once they've claimed asylum, are remarkably difficult to get rid of.  Quite frankly, these should be made to stay in and fix their own countries.
2)  Drug traffickers. 

The wall addresses the latter two.  Walls are quite effective, which is why the border patrol keeps requesting them. 

Okay, so we implement employer/employee/ID/etc. enforcement first.  Get it done and off the table as "not being enough".  Get it done.

Next, I agree, build the wall; whether that be out of stone, steel, electric wire or whatever.  Line it with retirees with long range tasers and sawed off shotguns, and give them another prescription of Viagra for every contact or kill with an illegal.

"Old Man's War!"  Taking "get off my lawn" to the nth degree!

Edited by Dan Warnick
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24 minutes ago, mthebold said:

Going after employers only solves one type of illegal immigration: those who enter for jobs.  There are two others America also must deal with:
1) Asylum seekers who leech off public services and, once they've claimed asylum, are remarkably difficult to get rid of.  Quite frankly, these should be made to stay in and fix their own countries.
2)  Drug traffickers. 

The wall addresses the latter two.  Walls are quite effective, which is why the border patrol keeps requesting them

I dont actually think the wall will fix your no 1. People can request asylum at the border. Re no 2 - again I think it is much more effective to try to influence the demand side of the equation. But I don't know enough about this to have a serious discussion. All I wanted to point out is that there is a simple fix that could easily be implemented that would do a lot to illegal immigration. Same in Europe by the way. Why not focus the discussion on that?

On a sidenote - if more jobs were created as a result of current administration policies the current administration would like also get the support to build the wall... 

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1 minute ago, Dan Warnick said:

Okay, so we implement employer/employee/ID/etc. enforcement first.  Get it done and off the table as "not being enough".  Get it done.

Next, I agree, build the wall; whether that be out of stone, steel, electric wire or whatever.  Line it with retirees with long range tasers and sawed off shotguns, and give them another prescription of Viagra for every contact or kill with an illegal.

Agreed: go after the employers.  Make it absolutely clear that America respects the rule of law, and those who disregard it have no place here.  By freeing ICE to do their jobs, Trump has already made a good start on that

It's interesting that Trump wanted a concrete wall, but Democrats insisted it be steel.  They need a steel wall to maintain their narrative that walls don't work.  Trump, like Israel, knew what he was doing.  It seems the Democrats also know what they're doing; they just have malicious intent. 

Drug and human traffickers are well-funded and heavily incentivized though; even a concrete wall might not stop them for long.  Their activities also make them the worst kind of scum - hardly worthy of being called human.  Thus, I propose we get serious: let the Marine Corps use them as target practice, then unceremoniously dump their lifeless bodies on the Mexican side of the border.  Or maybe we should take a cue from Vlad the Impaler.  Even better: privatize the entire affair.  Offer guided hunting trips for those interested in playing The Most Dangerous Game on the Southern border.  Or offer bounties for confirmed kills of known non-citizen criminals.  If that's legally tricky, have them declared non-uniformed agents of a foreign country (spies), the punishment for which is death. 

Or, given the magnitude and seriousness of the problem, we could send a military expedition into Mexico and destroy the source.  We would, of course, seize their oil as compensation for our trouble. 

There are solutions to this problem.  We need only avail ourselves of them. 

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4 minutes ago, mthebold said:

Drug and human traffickers are well-funded and heavily incentivized though; even a concrete wall might not stop them for long.  Their activities also make them the worst kind of scum - hardly worthy of being called human.  Thus, I propose we get serious: let the Marine Corps use them as target practice, then unceremoniously dump their lifeless bodies on the Mexican side of the border.  Or maybe we should take a cue from Vlad the Impaler.  Even better: privatize the entire affair.  Offer guided hunting trips for those interested in playing The Most Dangerous Game on the Southern border.  Or offer bounties for confirmed kills of known non-citizen criminals.  If that's legally tricky, have them declared non-uniformed agents of a foreign country (spies), the punishment for which is death. 

Or, given the magnitude and seriousness of the problem, we could send a military expedition into Mexico and destroy the source.  We would, of course, seize their oil as compensation for our trouble. 

Are serious? 

why not just educate people or do something else about demand. Drugtrafickers are just meeting a demand. 

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1 minute ago, Rasmus Jorgensen said:

Are serious?  

why not just educate people or do something else about demand. Drugtrafickers are just meeting a demand.  

I am deadly serious.  With permission from my government, I would gladly spend my weekends and vacations hunting drug traffickers on the border. 

As for reducing demand, that only works to a point.  People make mistakes.  The problem with many drugs is that, once that mistake is made, the person can be more susceptible to it for life.  The Catholic church talks about something called "the near occasion of sin", which means situations where temptation is high.  I'm not particularly religious, but they have a point: human beings have limited will power, limited experience, limited reasoning ability.  When the consequences are life-altering, the best option is to remove temptation,  That's what attacking drug traffickers does. 

At the same time, we can remove demand for drugs by kicking out the illegals, which will cause wages to rise.  When people have hope for the future, they're less likely to turn to drugs.

In other words, Trump's policy of enforcing the law and protecting US citizens will do exactly what you propose.  By comparison, your policy of globalization will swamp developed nations with poor people, driving down wages and exacerbating the drug problem. 

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3 minutes ago, mthebold said:

At the same time, we can remove demand for drugs by kicking out the illegals, which will cause wages to rise.  When people have hope for the future, they're less likely to turn to drugs.

Agree with giving people hope. But we are back to going after the enployers. 

As for your commentary - I believe in reducing demand. And helping people out of addiction. You seem to be victimizing the population of the US. Give the hope and have faith. And BTW - even if you were able to remove supply then some enterprising thug would just invent a product that could be made in the US. Supply and demand. Go after demand. 

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48 minutes ago, Rasmus Jorgensen said:

Agree with giving people hope. But we are back to going after the enployers. 

As for your commentary - I believe in reducing demand. And helping people out of addiction. You seem to be victimizing the population of the US. Give the hope and have faith. And BTW - even if you were able to remove supply then some enterprising thug would just invent a product that could be made in the US. Supply and demand. Go after demand. 

Legalize drugs the same as alcohol, enforce driving laws (and all other laws) and do drug test at work if necessary.  With 100 million people doing casual drugs it might as well be legalized and regulated and taxed anyway.  Do what you can with the addicts, but you'll never force them all to quit, same as alcohol.

Presto!  Perfect world.

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1 hour ago, Rasmus Jorgensen said:

Agree with giving people hope. But we are back to going after the enployers. 

As for your commentary - I believe in reducing demand. And helping people out of addiction. You seem to be victimizing the population of the US. Give the hope and have faith. And BTW - even if you were able to remove supply then some enterprising thug would just invent a product that could be made in the US. Supply and demand. Go after demand.  

That's a fair point.  I'm on board with going after the employers, and going after them hard.  It's also fair that domestic supply will meet the demand, but at least that doesn't funnel money out of the country.  If we must have a drug problem, it can at least support the economy the way tobacco and alcohol do. 

Then there's human trafficking and terrorism.  We need to know who is coming into our country, and that's not always controlled by supply & demand. 

Any way you look at it, countries need controlled borders.  If our neighbors control their non-US borders and don't cause problems with us, then little effort is required on our part.  E.g. the border with Canada.  However, Mexico has little ability to control their own borders, little control over their own citizens (drug cartels running amok), and no intention of cooperating.  We'll have to do it the hard way.  I vote for concrete walls, declaring non-legal residents to be outlaws (I.e. rescinding all their rights, refusing to spend precious law enforcement resources defending them, and allowing US citizens to expel them as those citizens see fit), and military hunter/killer teams at the border with orders to put down anyone caught with drugs. 

And since Mexico is causing all these problems, we can liberate some of their border land to build the wall.  It's not like they can stop us. 

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Tom, as of 2017 there are 79.8 million smart meters nationwide. Scientists are alarmed at the prospect of electronic radio waves tied to defective smart meters that may have ultimately caused California fires.

While I agree with Policy matters , regulatory burdens & rule of law if databases are falsified our resources will continue to evaporate. 

I’ll attempt to attach data..

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13 hours ago, Rasmus Jorgensen said:

Yes, here in the West we need to come to terms with reality and get competetive again.... We need to quit virtue signalling and other excuses like blaming it on illegal immigration. There is nothing stoppping US or Europe from implementing an instant ID for all employees. The tech to do it is here - we could make 80% dent in illegal employment immediately. 

Great, we can use it to determine who is eligible to vote also. Oh, Democrats. 

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12 hours ago, ronwagn said:

Great, we can use it to determine who is eligible to vote also. Oh, Democrats. 

Ron, 

If you had a wish and could choose between instant ID of employees and going after the employers or the wall. Which would it be? 

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21 hours ago, mthebold said:

That's a fair point.  I'm on board with going after the employers, and going after them hard.  It's also fair that domestic supply will meet the demand, but at least that doesn't funnel money out of the country.  If we must have a drug problem, it can at least support the economy the way tobacco and alcohol do. 

Then there's human trafficking and terrorism.  We need to know who is coming into our country, and that's not always controlled by supply & demand. 

Any way you look at it, countries need controlled borders.  If our neighbors control their non-US borders and don't cause problems with us, then little effort is required on our part.  E.g. the border with Canada.  However, Mexico has little ability to control their own borders, little control over their own citizens (drug cartels running amok), and no intention of cooperating.  We'll have to do it the hard way.  I vote for concrete walls, declaring non-legal residents to be outlaws (I.e. rescinding all their rights, refusing to spend precious law enforcement resources defending them, and allowing US citizens to expel them as those citizens see fit), and military hunter/killer teams at the border with orders to put down anyone caught with drugs. 

And since Mexico is causing all these problems, we can liberate some of their border land to build the wall.  It's not like they can stop us. 

Apart from the rant at Mexico and drug cartels (which I think is victimizing) I 100 % agree with the rationale. Take the lowest hanging fruits first and move on from there. 

BTW - I will reply to some of your other post, but I hope you understand that I 100 % believe going after the meployers is the way forward. Also in Europe. 

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10 hours ago, Rasmus Jorgensen said:

Ron, 

If you had a wish and could choose between instant ID of employees and going after the employers or the wall. Which would it be? 

Good question! I would go with instant ID. The RINOS and the Democrats would not though. It would be a miracle IMHO.

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It's a two part problem.

1) I have always said that the answer to the illegal immigration problem was to go after the employers. Take away the jobs and the illegals quit coming across the border. Create and maintain a database that employers can easily enter a biometric ID for a prospective or current hire. Periodically audit employers and have a system of fines in place that makes it very unattractive to hire an illegal immigrant. Put the money from the fines collected into maintaining the system. 

2) Legalize the drugs. It's a war we haven't put a dent in since the battle to stop them began. Let private business keep drug testing the workforce and drug users will continue to be unemployable in the mainstream but will not be able to make a living selling dope any longer because the legal market took away the margins.

 

 

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On 2/5/2019 at 7:42 PM, mthebold said:

There's nothing preventing a resource rich country from saving, investing, and developing skills.  They simply chose not to.

I recall reading an article about how both Americans and Mexicans were worried about NAFTA, but for different reasons.  Americans were concerned about falling wages; Mexicans about losing their siestas.  That's a stark cultural difference, and it's easy to see how one would surpass the other in material success. 

It's time to stop making excuses for lazy cultures. 

 

8 hours ago, ronwagn said:

Good question! I would go with instant ID. The RINOS and the Democrats would not though. It would be a miracle IMHO.

Thats the problem Ron. If it was patriotic to turn in an employer who hired an illegal we could have a country of heros for no money. Why do these bums hire illegals who work for less money and benifits? To watch them take siestas?  Hehe, at least the Dems know their value. You and the bold seem to be about silly talking points.

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