CITY JOURNAL ……… A remarkable political consensus has emerged: the world needs more oil. Confirmation of that reality didn’t come from any oil executive but from President Biden, who recently admonished U.S. oil companies “to deploy these record-breaking profits to increase production.”
CITY JOURNAL …….. Wars are fought on many fronts. So far, Russian president Vladimir Putin is winning the energy war. High energy prices, triggered by supply disruptions, have neutered Western sanctions. Russia’s current account balance stands at record highs.
DAKOTA DIGITAL REVIEW ………Competition for the increasing limited supply of those with skills is driving up wages, which is an obvious benefit for the employee, but is also inflationary for the employer’s product or service. And it doesn’t increase the supply until more people are attracted to those trades, and then not until they’re trained.
WALL STREET JOURNAL ……… Among the pandemic’s many disruptions, in early 2021 auto makers cut production because of a shortage of semiconductors. Car manufacturers today already spend more money on silicon than on steel, and that goes double for the makers of electric vehicles (EVs). The mainstream arrival of EVs owes as much to silicon…
NATIONAL REVIEW ………… How long can Russia afford to wage a ground war in Europe? One might be reasonably skeptical of answers coming from those who didn’t see any prospect for Russia to invade Ukraine.
CITY JOURNAL ……… When Congress passed the CHIPS Act, a bill seeking to boost U.S. semiconductor manufacturing, the Washington Post trumpeted it as “a new era of industrial policy.” One might also call it a version of “capitalism with Chinese characteristics”—a foray into state-directed market policy.