"The idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”
The Daily Signal (5/21/20) column: "Sometimes the preferred policy solution is to do nothing at all. Take the oil industry, for instance, where many of the proposals from federal and state policymakers would have done far more harm than good by distorting markets and harming consumers. America’s oil producers are by no means out of the woods yet, but the improved outlook offers a lesson in policy patience. When COVID-19 caused a significant drop in travel and production of goods, oil prices plummeted...As the American Energy Alliance and Heritage Action for America noted in a statement of principles document, 'Broad government-mandated production cuts would hit indiscriminately, forcing cuts from both efficient and inefficient wells or producers, thus propping up weaker players and disrupting the functioning of the oil industry at precisely the moment when it needs to be at its competitive best.' Beyond the immediate adverse effects, more intervention would have long-lasting negative effects on the energy markets by giving the government more control over how resources are allocated. Decisions that should be left to the private sector and determined by price signals would instead be decided by the federal government. In fact, we already see those problems in one form or another with government ownership of natural resources on federal lands and waters."
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"Americans, by overwhelming majorities, were not willing to sacrifice their livelihoods for the climate before they were put through the ordeal of COVID-19 lockdowns, and they certainly aren’t now."
– Bonner Cohen, Ph. D., CFACT
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