Hardly a day goes by without somebody in government or the media complaining about all the jobs that U.S. corporations have moved overseas, or lamenting the loss of the American heartland’s once-mighty industrial capacity. Lost amid all the shouting and cursing is this fact: Thanks to recent advances in drilling technology, especially the use of hydraulic fracturing or “fracking” and horizontal drilling, this nation stands on the threshold of an incredible industrial renaissance powered by the availability of immense supplies of affordable natural gas and oil harvested from the continental United States and its offshore dominions.
It appears that money is the only thing that will motivate our state politicians to get things done on time. A case in point is the voter-mandated law that stated if a budget is not passed on time, the legislators won’t be paid either now of retroactively. Lo and behold, we had their budget — even though Gov. Jerry Brown vetoed it for being full of gimmicks.
WHAT: The Senate voted 73-27 to cut billions of dollars in subsidies for the profitable U.S. ethanol industry, scoring the first victory against the powerful corn-state lobby.