Current Affairs

"Time to Phase Out the Strategic Petroleum Reserve"

Absolutely! This is an especially good point:

In the EU, responsibility for meeting stockpiling obligations was largely delegated to oil companies. There is no reason why the same approach could not be followed in the United States. Indeed, oil companies have every financial incentive to hold sufficient reserves to accommodate a potential interruption. That is just good business planning. According to the Energy Information Administration, private crude oil inventories stand at 511 million barrels. Absent the SPR, investors and oil companies would be able to handle most if not all but the most extreme disruptions, such as closing the Straits of Hormuz.


"Desperate Pension Funds Mull Buyouts"

"Some of the nation’s most overburdened state and local governments are considering an unprecedented strategy for defusing their public sector pension time bombs: Offering workers lump-sum payments worth somewhat less than their pension guarantees in the hopes that enough will accept to meaningfully reduce long-term costs."

I wish 'em luck, but I'm pessimistic.


"Make America Small Again"

Review of Yuval Levin's recent book. I certainly like this:

In Levin’s view, the best politics for a decentralized society is one based in subsidiarity, a concept which holds that because society is a complex web of institutions, with the whole structured like concentric rings, political challenges should be tackled as close to the local level as possible.