Wednesday, October 22, 2025
Saturday, October 4, 2025
NIMBY? State Board of Land Commissioners denies Prism Logistics lease renewal on Casper Mountain and other ponderings.
This is an interesting story.
State Board of Land Commissioners denies Prism Logistics lease renewal on Casper Mountain
I'm glad this isn't going forward. It shouldn't, because of where it's located.
But because of where its located is where it drew attention.
In Natrona County, over the past year, residents have risen up in opposition to this gravel mine, a proposed solar farm in the western end of the county, and a proposed nuclear generator manufacturing facility north of Casper. In Gillette there's some sort of controversy going on over some sort of nuclear facility. And there's a big debate on a wind farm in Laramie County.
It's hard to know what to make of all of this.
What is clear is that local politicians respond to the controversies. I'm sure if you asked any one of the Natrona County Commissioners if they supported energy, they would say yes. And they'd all say they support mining. But when the votes come, they're voting like they're members of Greenpeace.
And one local legislature says that his nickname is now "No nuke" for his opposition to the nuclear generator facility.
Nuclear energy is the safest and most efficient form of power generation we have, and until the mysteries of fission are unlocked, if ever, it'll continue to be. In a rational world we'd have a five year plan to replace every coal burning plant in the country with nuclear power.
Indeed, going one step further, we'd mandate the retirement of petroleum fueled everything in that time frame, or perhaps ten years.
The reason we don't is because, for the most part, even though we're the smartest animal on the planet, we're not anywhere near as smart as we like to think we are. If we were, we'd make decisions based on logic. Most people don't. Most people make decisions based on emotion.
It's easy to understand why a person would emotionally resent a gravel pit in their backyard, more or less, or solar panels taking up acres of land. The same with windmills. Nuclear? Well, the opposition to nuclear is due to our having used the bomb to murder thousands of Japanese civilians. It's stuck with us and we fear it, as that was our first use of it. People will tell you they are worried about contamination and the like. Bah. It's Hiroshima and Nagasaki they're worried about, even though that can't happen.
I'm old enough to remember when we had open pit uranium mining in Wyoming. In the early 1980s I knew a few guys who worked out at the Shirley Basin mine site, including one who lived in the little, now abandoned, town of Shirley Basin. I also knew some who lived and worked in Jeffrey City, where they worked in uranium mines. When they closed down, the state was distraught.
Now it seems nobody remembers that, and the thought of anything nuclear drives people into fits of despair.
I think a lot of it is fear of change.
That in fact explains a lot about populism And it explains why the current heavily right wing populist in Natrona County are adamantly against something that the populists in Washington D.C. reading Uglier Home and Paved Garden are for.
Change, we're told, is inevitable. If it is, it's because we will it so, much of it through our absolute laziness. We want our lives to be easier and more convenient just for us, but at the same time we want things to stay the way they are.
Which for a person like me, whose an introverted, introspective, agrarian, is particularly amusing in some ways.
I really hate change, myself, and I also want things to be the way they were. But not five or ten years ago, like so many of the people who protest on these matters. Indeed, many are quite new imports.
I'd like them to be like they were in 1879 when my family first arrived in this region. . . or even earlier if possible. I'd settle for 1963, when I personally arrived.
I won't get those wishes.
I will note, however, a nuclear powered America might look more like American in 1879 than the one of 2025 does. As I look out at all the protests I'm struck by how many people in Wyoming are absolutely wedded to the oil and gas industry. It wasn't always so.
Back in the 1960s (I have a long memory) a lot of locals remained pretty skeptical about the oil and gas industry, in part because the state had recently been shafted for its reliance upon petroleum. People loved it again in the 1970s but when that boom collapsed people swore to never be reliant upon it again.
We apparently got over that.
Now we fear what we know to be true. Petroleum and coal won't last forever. The dirty little secret of the petroleum industry in Wyoming anymore is that drilling is really for gas far more than petroleum oil. Petroleum is on the way out, like it or not, and the United States is an expensive oil and gas province to drill in. Absent actually prohibiting its import, which I wouldn't put past Donald Trump, Saudi petroleum will always be cheaper. For that matter, Russian petroleum will always be as well and thinking you can really prohibit India China from importing it is absolute folly. Coal, which we've dealt with extensively, in a slow but accelerating death spiral.
Donald Trump may say "drill baby drill", and put thousands of acres up for coal leasing, but Trump in many ways is the last dying gasp of of the 1950s.
And the 50s of our imaginations never existed. But we fear that it didn't, as we fear the thought that our oil stained hands will reach the point where we'll have to grab a bar of Lava soap and scrub it off, forever. The jobs will go away.
Funny thing is, from time to time, there's been serious proposals to put in something related to local agriculture, which was here in the beginning of our statehood, and still is. Wyoming hadn't really supported a big ag project since the 1930s, and indeed local municipalities oppose things related to agriculture. It's short sighted.
But then, perhaps I'm romantic about for various reasons that recent migrants to the state don't share.
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Friday, September 26, 2025
Friday, September 26, 1975. Petroleum and The Rocky Horror Picture Show.
Congress, at President Ford's request, extended price controls on petroleum for fifty days.
I reported the Rocky Horror Picture Show as debuting yesterday, but apparently it was today. A cult classic today, it's theater run was not a success.
Last edition:
Thursday, September 25, 1975. Three Days of the Condor and Oliver Sipple.
Wednesday, August 27, 2025
The Cost Meter. A Trade War Index.
Petroleum: $61.78/bbl (Wyoming crude become unecomic at $59.00/bbl).
Coal: Coal 99.40/ton
Coffee (USd/Lbs) 372.60.
Levis at Penny's: $55.65.
April 7, 2025
Petroleum: 60.80/bbl.
One of Trump's minions cited this, fwiw, as evidence that inflation isn't kicking in and things are fine. On the contrary, the price of petroleum is dropping on fears of a recession. A recession reduces oil consumption.
Indeed, because of the bizarre nature of tariffs, trading prices on some things in general may go down, while the price rises for Americans.
April 8, 2025
From the Wall Street Journal yesterday:
It's about $61/bbl this mooring.
cont:
$58.10. Below marketability in Wyoming.
April 9, 2025
Oil opening this morning:
56.03
April 10, 2025
Despite the strong relief rally on Wednesday, following President Trump’s 90-day pause of tariff hikes on most countries except China, the U.S. benchmark oil price is now lower than the breakeven for the shale industry to profitably drill a new well.
OilPrice.com
West Texas is $59.16/bbl.
April 11, 2025
U.S. reached a new record-high of $6.23 per dozen.
Oil is opening at 60.10/bbl.
May 2, 2025
Oil and Natural Gas.
WTI Crude 58.57 -0.67 -1.13%
Brent Crude 61.49 -0.64 -1.03%
Murban Crude 61.41 -0.93 -1.49%
Natural Gas 3.502 +0.023 +0.66%
A note, below $59.00, US crude doesn't move.
The inflation rate right now is 2.39% with the tariffs about to hit.
May 6, 2025
WTI Crude • 58.28 +1.15 +2.01%
Brent Crude • 61.39 +1.16 +1.93%
Murban Crude • 62.20 +2.24 +3.74%
Natural Gas • 3.594 +0.044 +1.24%
Coal: 98.50/ton
Coffee: 388.45
Levis: $55.65.
May 16, 2025
WTI Crude 61.95 +0.33 +0.54%
Brent Crude 64.88 +0.35 +0.54%
Natural Gas 3.345 -0.017 -0.51%
Coal: 99.00/ton
Coffee (USd/Lbs) 373.79
August 27, 2025
A pound of ground roast coffee now averages $8.41, up 33% from last year, according to the New York Times.
WTI Crude: $63.91/bbl.
Brent Crude: $66.79/bbl.
Coal: $99.75/ton.
Gee. . . doesn't seem like prices are going down.
Friday, August 15, 2025
Wyoming crowd boos Hageman retort that protections against greenhouse gases based on ‘false science’
Wyoming crowd boos Hageman retort that protections against greenhouse gases based on ‘false science’: U.S. Rep. Hageman's comment didn't go over well in Pinedale, where residents struggled for years to clean up health-threatening pollution from oil and gas drilling.
Pinedale calls itself the "Icebox of the Nation" and the introduction of oil and gas operations near it are relatively new. Given both of those, it clearly didn't drink the GOP Koolaide on global warming being a fib.
Hageman has so far received rough crewed treatment in Pinedale, Rock Springs, and Laramie. I suspect she would in Casper as well. I also suspect she might want to start thinking about selling her house in D.C. and looking to move back to her brother's ranch, as she may be out of work next year.
Wednesday, July 2, 2025
Subsidiarity Economics 2025. The Times more or less locally, Part 8. The imaginary lost world edition (and also something about the color of pots and kettles).
Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
New products take backseat amid Trump tariffs
Companies work to overcome staff incivility
This perpetual Golden Share prevents any of the following from occurring without the consent of the President of the United States or his designee:• Relocate U.S. Steel’s headquarters from Pittsburgh, Pennsylvania.• Redomicile outside the United States• Change the name of the company from U.S. Steel• Reduce, waive, or delay the $14 billion of Near-Term investments into U.S. Steel• Transfer production or jobs outside the United States• Close or idle plants before certain timeframes other than normal course temporary idling for safety, upgrades, etc.• Other protections regarding employee salaries, anti-dumping pricing, raw materials and sourcing outside the U.S., acquisitions, and more.
Man who says he can move TikTok to South Dakota is a bust in Wyoming politics: Reid Rasner lost by 43 points in a U.S. Senate race and has offered few details in support of his multibillion-dollar bid, but has won over the Rushmore State’s governor.
June 26, 2025
Wyoming oil positioned to weather Middle East conflict, analysts say: Nation's soaring oil and natural gas production may buffer energy prices if Israel-Iran conflict disrupts global supplies, some industry officials predict.
U.S. Ballistics plans on opening an artillery projectile plant in Cody.
cont:
The Senate parliamentarian has advised that a Medicaid provider tax overhaul central to President Donald Trump’s tax cut and spending bill does not adhere to the chamber’s procedural rules.
June 28, 2025
The US broke off tariff negotiations with Canada, the US's largest trading partner.
Aluminium costs are pressing beverage manufacturers.
June 29, 2025
The Senate voted to take up The Big Ugly, which doesn't mean that it's passed.
For the sake of the country, it should not pass, but it likely will.
Elon is taking note of the impact, which won't please his former ally.
June 30, 2025
CBO on The Big Ugly, as reported by the CST.
CBO PROJECTS TRUMP BILL WILL RACK UP DEBT
PTC is the renewable electricity production tax credit, a per kilowatt-hour (kWh) federal tax credit included in the U.S. tax code for electricity generated by qualified renewable energy resources.
As a doctor in Wyoming for over 20 years, I’ve cared for Medicaid patients my entire career. I understand Medicaid’s importance for the people it is intended to serve. I have also seen its shortcomings.Thanks to Wyoming being good stewards of taxpayer dollars, the Medicaid reforms included in the bill are unlikely to negatively impact our state. Wyoming’s policies are already aligned with a majority of the Medicaid provisions. This includes work requirements for all able-bodied adults enrolled in Medicaid.Medicaid was established to help children, pregnant women, seniors and the disabled. We need to make sure that high-quality care is accessible and reliable to those who qualify for Medicaid. This bill does that.
Dr. John also supported Robert F. Kennedy, Jr., for his current position even though he no doubt privately believes Kennedy is a quack. And he hid under his desk for the most part during the recent public lands issue. Reaction to this story brought out a lot of anger by people remembering that, as it should.
Eight Republican Senators are currently holding out against The Big Ugly.
The GOP leadership has been struggling with getting the Big Ugly passed in general, and in meeting King Donald's arbitrary July 4 deadline. Now the monarch has indicated he has sort of a "m'eh" view on the deadline and he doesn't want things cut too deeply, which must be causing Grover Norquist fits.
cont:
The Big Ugly passed the Senate with J.D. Vance casting the tie breaking vote.
Now its back to the House where the House Freedom Caucus has already criticized it due to its increasing the deficit.
The most amusing vote on the Senate side was Lisa Murkowski, who voted for it, but indicated she was agonized by the whole thing. That seems to be Murkowski's theme. If the Senate proposed a vote to run over kittens, she'd vote for it, but note that the whole thing really bothered her.
Murkowski:
My hope is that the House is gonna look at this and recognize that we're not there yet.
Gutless.
July 2, 2025
The US dollar suffered its worst first-half decline in more than 50 years due to tariff concerns.
Lisa Murkowski is taking a lot of flak for selling her vote for changes to the Big Ugly that benefitted certain constituents in Alaska, including whalers, while she acknowledges the Big Ugly is ugly. She seems utterly surprised that she's now the subject of outright deserved contempt.
Murkowski was just playing politics the old fashioned way, trading her vote for something she thinks her constituents needed, while still not liking the bill. It's the way things are done, in normal times, which these are not.
Murkowski is 68 years old, which I'll mention as the Big Hugly contains tax breaks for seniors.
Well of course it does.
Old Boomers Never Die
They control away. . . *
Footnotes:
*From Old Soldiers Never Die.
Friday, June 13, 2025
Subsidiarity Economics 2025. The Times more or less locally, Part 6. “Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump’s Liberation Day tariffs.”
Rarely has an economic policy been repudiated as soundly, and as quickly, as President Trump’s Liberation Day tariffs.
The Wall Street Journal, May 13, 2025.
May 14, 2025
Wyoming Delegation Not Supportive Of Trump's Idea Of Tax Hike For The Rich
So Barrasso and Lummis separate from Trump on this?
Neither one of them are actually Trump supporters in terms of their personal beliefs, but have adopted his views for political survival in Wyoming, which is fanatically pro Trump. Everyone is well aware that the budget is in a crisis stage and at some point soon the US needs to have a balanced budget. That can only be done through raising taxes, and they know it.
Additionally, taxing the wealthy will not hurt the economy, and everyone knows that. Tax rates for the wealthy were much higher in prior decades with no ill effect on the economy.
A matter of critical interest.
Wyoming Is The Second Most Expensive State For Beer Lovers
And one Wyomingites just won't believe
Reaction To Trump Tariffs Helps Push Wyoming Oil Prices To Four-Year Low
This is an absolute fact, but if you follow the story on Facebook, a lot of Wyomingites just won't believe it. That would mean Trump is hurting the local economy, and they can't accept that. . . at least not yet.
Oil is at $62.02/bbl this morning.
May 15, 2025
Given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins.
Walmart CEO Doug McMillon.
Oil is at $61.60/bbl.
May 17, 2025
Thanks to Republican mishandling of the economy, specifically increasing debt, Moody's downgraded the economy from Aaa to Aa1.
The GOP can't seem to grasp that you actually have to pay for the government.
New Jersey transit engineers are on strike.
Trump's "Big Beautiful Budget Bill", which would add $4T in debt, failed 16-21 in the House Budget Committee.
The irony is that those voting against it want more spending cuts, but only increased taxes will address this developing crisis.
Let's put this in bold, as people just don't seem to grasp it.
THE UNITED STATES CAN'T "CUT" ITS WAY OUT OF ITS BUDGET CRISIS. IT MUST RAISE TAXES.
Cont:
It's really time to stop calling Trump a businessman:
He's a real estate developer. Clearly he's otherwise a business illiterate.
May 19, 2025
The Trump deficit expanding budget bill made it out of committee on a 17-16 vote with those who were to vote no, voting present.
This bill will be a disaster for already an already irresponsible Federal government. Taxes need to be raised on income, particularly upper incomes to make the budget balance and this insanity cease.
May 22, 2025
The House of Representatives passed by a margin of one a funding bill that will swell the deficit disastrously while making cuts in Medicaid and food stamp while adding to border security. Taxes will be cut, when they should be raised, and will irrationally be eliminated on tips and overtime.
Trump, who speaks oddly at best, has called this his "big beautiful tax bill"
Walmart is cutting 1,500 corporate jobs.
The stock market is crashing because of the bad tax bill. The bond market is flat.
West Texas crude is back down to $60.96.
Cont:
The "tip" exemption appears to be for "cash tips".
FWIW, bar tenders tend to get cash tips, but restaurant workers less and less. FWIW, cash tips are notoriously underreported anyway, as they're impossible to keep track of.
May 23, 2025
Hageman’s Budget Vote Critical As House Passes One Big Beautiful Act 215-214
Republicans are for state's rights, except when the state exercises the right to do something they don't like.
Likewise, the GOP is for local control, but really isn't.
At Lusk Town Meeting, Locals Say Wind Projects Have Ended Friendships
Developer Of Controversial Casper Gravel Mine Wants To Renew State Leases
Trump:
What does the "thank you for our attention to this matter" intend to do?
May 29, 2025
Federal trade court blocks Trump's emergency tariffs, saying he overstepped authority
That the power wasn't there was obvious. Now the question is whether the Trump administration will obey the Court.
May 30, 2025
An appeals court is allowing the tariffs to be collected while the matter is on appeal, which is a poor ruling.
June 2, 2025
Well, of course. . .
R&D job postings down 18% since president took office
From the same article, about the impact on the economy:
A 25% cut ultimately would reduce gross domestic product by an amount similar to the decline seen during the Great Recession, they said.
cont:
“Was it all bullshit?"
Donald Trump, reportedly, about Musk's promise to cut $1B from the government spending.
That anyone could seriously think that $1B could be cut from the discretionary budget demonstrates that the person has no grasp on the Federal budget whatsoever.
June 3, 2025
Elon Musk on the "Big Beautiful Bill".
It is an abomination, but so was the work that Musk was doing:
Cliffnotes of the Zeitgeist 85th Edition. DOGE dipshittery and Clinton efficiency.
June 4, 2025
|
Subsidiarity Economics 2025. The Times more or less locally, Part 5. The Roller Coaster Edition.
Wednesday, June 11, 2025
Wednesday, June 11, 1975. North Sea Oil. Reeducation. Gas Tax Rejection. MKUltra.
The United Kingdom became an oil producing nation as the first oil was produced in the North Sea's Argyll field.
The U.S House of Representatives voted 209 to 187 to reject President Ford's proposal for a .23 per gallon federal fuel tax Ford saw as a way of ending US dependency on imported oil by 1985.
Alice Olson, the widow of Frank Olson, learned for the first time that her husband had been the subject of secret CIA experiments with the hallucinogenic drug LSD as part of the illegal clandestine program MKUltra. Olson had leaped to his death in 1953. The CIA was hoping to find drugs that could be used for interrogation purposes.
Vietnam sent an order to all "puppet soldiers" of Army of the Republic of Vietnam to attend three days of "re-education" (hoc tap), and for former officers to bring supplies for one month of training. Most officers who reported were held for more than one month.
Last edition:
Tuesday, June 10, 1975. Refugees.
Tuesday, June 3, 2025
Tuesday, May 13, 2025
Subsidiarity Economics 2025. The Times more or less locally, Part 5. The Roller Coaster Edition.
April 10, 2025
On April 2, Trump, using bogus emergency powers, imposed an insane tariff regime on nearly every country in the world, save for Russia, based on trade imbalances, showing a juvenile understanding of that topic at best.
This caused markets to crash and the economy to head to what might optimistically have been a recession, and perhaps more realistically a depression.
Yesterday the tariffs were paused for 90 days, save for the ones on China, the latter of which has retaliated with a 104% tariff on US goods.
Earlier tariffs imposed on Canada and Mexico, and a 10% tariff imposed on everyone, remain.
This policy is still disastrous, simply less so than the really steep tariffs that Trump had claimed were permanent, and then which turned out to perhaps not be after foreign holders began to dump US bonds.
And so here we are.
Congress has the power to end this madness as it has delegated these completely bogus emergency powers to the Red Caesar, but it won't as the national GOP is now some sort of strange Peronist/Authoritarian party dedicated to extremism. The roller coaster ride isn't over, it's just on some lower bends. The whims and beliefs of one man now hold the global economy in peril.
Highly relevant to Wyoming:
Despite the strong relief rally on Wednesday, following President Trump’s 90-day pause of tariff hikes on most countries except China, the U.S. benchmark oil price is now lower than the breakeven for the shale industry to profitably drill a new well.
OilPrice.com
Cont:
Speaker of the House Johnson had to pull the budget bill from consideration due to right wing concerns over the deficit, which are rightly placed. Apparently as of this morning he has enough votes to advance the bill.
Cont:
After massively rallying late yesterday, stocks are once again dropping this morning.
Cont:
The Dow closed 1,000 points down.
Oil fell to $60.23/bbl. after having gone up a little during the day at first.
The decline is starting to set in, which not only makes it a bear market, but which shows that long term prospects for the economy are fading.
April 11, 2025
China raised its tariffs on US goods to 125%.
April 13, 2025
The Trump administration is now excluding certain electronics like smartphones and laptops from reciprocal tariffs.
April 14, 2025
The weekend shows made it clear that the reprieve on electronics tariffs is temporary, and more directed ones will be coming.
Regarding the weekend shows:
A Disturbing Trifecta
On a US industry that may in fact feel quick relief in their sector from the tariffs, a headline from the Tribune:
GULF SHRIMPERS CHEER ON TRUMP’S TARIFFS SEAFOOD INDUSTRY
Cheap imports cause US industry to lose 50% of market value
April 17, 2025
Wyoming hospital districts face ‘painful’ funding drop with property tax cut: The state’s 15 hospital districts are among hundreds of entities that will see tax revenue declines. It’s a blow to an already fragile sector, health care representatives say.
It’s Not Known If The 6-10 UW Students Who Had Visas Revoked Are Still On Campus
April 19, 2025
Mack Trucks is laying off between 250 and 350 workers at its Lehigh Valley Operations center in Pennsylvania, citing economic uncertainty caused by Trump’s tariffs.
President Trump’s tariff war isn’t going well, with market ructions and evidence of a slowing economy. So it was probably inevitable that Mr. Trump would demand that the Federal Reserve ride to his rescue by cutting interest rates…The problem for Mr. Trump is that Mr. Powell spoke the truth. Tariffs are a tax, which means higher prices for tariffed goods.
The Wall Street Journal Editorial Board.
April 22, 2025
Donald Trump started the day be rebuking businessmen who lack faith in his actions on the econmy.
By the end of the day, the economy rebuked him.
Few think administration’s negotiations with trade partners will yield results soon enough to ease the strain
Stocks End Sharply Lower. The Dow Is on Pace for Worst April Since 1932.
The Wall Street Journal and Barrons.
Most AmeriCorps staff members were placed on leave.
cont:
Trump has been attacking Fed Chairman Jerome Powell, who was appointed by Trump in his first legitimate administration. It's now being theorized that this is so that Trump will have a scapegoat for crashing the economy, which is occurring. The statute of limitations on blaming Biden has basically expired.
cont:
The Institute of International Finance (IIF) reported today that Trump’s policies mean the U.S. economy may fall into a Recession and shrink by 0.8% in Q3 and 0.3% in Q4 2025 with inflation rising to 4.6% by the end of the year.
The result would be stagflation.
April 23, 2025
After threatening Jerome Powell for a few days, Trump backed off.
U.S. Treasury Secretary Scott Bessent said Tuesday that the ongoing tariffs war against China is unsustainable and he expects a “de-escalation” in the trade war.
Trump suggested he was going to cut China's tariffs substantially. China has not reached out to negotiate.
Classic Trump cycle. Do something stupid. . . something bad happens. . . claims problem is solved and things will be fine. . . reverses decision.
April 24, 2025
Elon Musk is going back to Tesla, which has taken a hammering since Musk became the chief doggy of DOGE, for the most part. He apparently will still have some association with the kennel, according to his statement, but my guess is that will end pretty quickly.
Whether Tesla will also end, given its economic slide, is another question. With Musk barking at liberals, and Tesla's being sort of a liberal status symbol at one time, it may simply decline into oblivion.
Texas, which has been following Trump in all things Trumplike, just created its own DOGE.
April 29, 2025
Amazon announced that it is adding the price of tariffs to the cost of items.
D'uh.
Interestingly, it's going to post the price of the tariffs on the items it lists.
Carline Levitt, on behalf of the administration, declared "This is a hostile and political act by Amazon", expressing a view which apparently shows that the Administration is either completely dim on how pricing works, or seeking scapegoats for a policy that it nows is going to hit in May and be massively unpopular. It'd rather you not know, apparently, although people will soon figure that out anyhow.
April 30, 2025
Trump called Bezos and Amazon backed off.
UPS is laying off 20,000 drivers in anticipation of reduced Amazon shipments.
The economy shrank last quarter. Trump blamed President Biden.
May 1, 2025
Here's the current price of oil:
WTI Crude 56.88
Brent Crude 59.75
This is way below the Wyoming price marketability figure. If this holds, this will result in the crash of Wyoming oil.
Trump's economic propogandists keep pointing to the price of oil going down, which it has been, as proof of his tariffs working. They are working to depress the price of oil, but because the price of oil is an economic indicator. When it goes down, it means there's an anticipated or actual low demand, usually. Production gluts are also a cause, but that's not the cause here.
Prices went down on everything, I"d note, during the Great Depression, once it was really rolling.
This is bad news, for Wyoming in particular.
DOGE cuts to AmeriCorps ‘a devastating blow to the state of Wyoming’: “What I struggle with most is that this is somehow an act of efficiency,” one stakeholder told WyoFile, adding that $40 is returned for every federal dollar invested in service in Wyoming.
In the 100 Day Cabinet meeting in which Trump's loyal retainers heaped praise upon him, the Dear Leader noted sacrifice in that maybe children this Christmas shall get only two dolls, instead of 30.
Let them eat cake.
May 3, 2025
There is no question that trade can be an act of war. It has led to bad things — the attitudes that it has brought out. In the United States, we should be looking to trade with the rest of the world. And we should do what we do best and they should do what they do best. That’s what we did originally. We were good at producing tobacco and cotton 250 years ago and we traded it. We want a prosperous world but eight countries with nuclear weapons, including a few that I would call quite unstable, I do not think it’s a great idea where a few countries say ‘hahaha we won,” and other countries are envious.
Warren Buffet today.
May 5, 2025
And now we're going to hit foreign movies with a 100% tariff, apparently.
May 6, 2025
Governor sees ‘opportunity’ for Wyoming in Trump tariff war. Economist sees ‘disaster.’: State's trona and soda ash industry is particularly vulnerable to losing global buyers, while Gordon sees potential bright spots for mineral commodities, as well as new manufacturing.
May 7, 2025
If the large increase in tariffs that have been announced are sustained, they are likely to generate a rise in inflation, a slow down in economic growth and an increase in unemployment.
Jerome Powell.
May 8, 2025
The US and the UK have apparently reached a trade deal, although the details are murky.
May 12, 2025
The US and China have agreed to cut tariffs for 90 days.
This is causing a stock market rally, but the roller coaster nature of this is once again notable.
John Barrasso was on Meet The Press yesterday and cited gas prices as evidence of Trump's economic wisdom, when in fact its ironically the opposite.
May 13, 2025
A 90 day pause in the trade war with China was agreed upon with each side dropping their tariffs by 115%.
The price of oil climbed to $62.48/bbl.
The order associated with this:
By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order:
Section 1. Background. In Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade Deficits), I declared a national emergency arising from conditions reflected in large and persistent annual U.S. goods trade deficits, and imposed additional ad valorem duties that I deemed necessary and appropriate to deal with that unusual and extraordinary threat, which has its source in whole or substantial part outside the United States, to the national security and economy of the United States. Section 4(b) of Executive Order 14257 provided that “[s]hould any trading partner retaliate against the United States in response to this action through import duties on U.S. exports or other measures, I may further modify the [Harmonized Tariff Schedule of the United States] to increase or expand in scope the duties imposed under this order to ensure the efficacy of this action.”
In Executive Order 14259 of April 8, 2025 (Amendment to Reciprocal Tariffs and Updated Duties as Applied to Low-Value Imports From the People’s Republic of China), and Executive Order 14266 of April 9, 2025 (Modifying Reciprocal Tariff Rates To Reflect Trading Partner Retaliation and Alignment), pursuant to section 4(b) of Executive Order 14257, I ordered modifications of the Harmonized Tariff Schedule of the United States (HTSUS) to raise the applicablead valorem duty rate for imports from the People’s Republic of China (PRC) established in Executive Order 14257, in recognition of the fact that the State Council Tariff Commission of the PRC announced that it would retaliate against the United States in response to Executive Order 14257 and Executive Order 14259.
Section 4(c) of Executive Order 14257 provided that, “[s]hould any trading partner take significant steps to remedy non-reciprocal trade arrangements and align sufficiently with the United States on economic and national security matters, I may further modify the HTSUS to decrease or limit in scope the duties imposed under this order.” Since I signed Executive Order 14266, the United States has entered into discussions with the PRC to address the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns. Conducting these discussions is a significant step by the PRC toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States relating to economic and national security matters.
Pursuant to section 4(c) of Executive Order 14257, I have determined that it is necessary and appropriate to address the national emergency declared in that order by modifying the HTSUS to suspend for a period of 90 days application of the additional ad valorem duties imposed on the PRC listed in Annex I to Executive Order 14257, as amended by Executive Order 14259 and Executive Order 14266, and clarified in the Presidential Memorandum of April 11, 2025 (Clarification of Exceptions Under Executive Order 14257 of April 2, 2025, as Amended), and to instead impose on articles of the PRC an additional ad valorem rate of duty as set forth herein, pursuant to the terms of, and except as otherwise provided in, Executive Order 14257, as modified by this order.
Sec. 2. Suspension of Country-Specific Ad Valorem Rate of Duty. Effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on May 14, 2025, all articles imported into the customs territory of the United States from the PRC, including Hong Kong and Macau, shall be, consistent with law, subject to an additional ad valorem rate of duty of 10 percent subject to all applicable exceptions set forth in Executive Order 14257 and the Presidential Memorandum of April 11, 2025. This ad valorem rate of duty of 10 percent reflects (i) the modification of the application of the additional ad valorem rate of duty on articles of China (including articles of Hong Kong and Macau) set forth in Executive Order 14257, by suspending 24 percentage points of that rate for an initial period of 90 days, and the retention of the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said order; and (ii) the removal of the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 and Executive Order 14266.
Sec. 3. Tariff Modifications. In recognition of the intentions of the PRC to facilitate addressing the national emergency declared in Executive Order 14257, the HTSUS shall be modified as follows:
Effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on May 14, 2025:
(a) heading 9903.01.25 of the HTSUS shall be amended by deleting the article description and by inserting “Articles the product of any country, except for products described in headings 9903.01.26–9903.01.33, and except as provided for in heading 9903.01.34, as provided for in subdivision (v) of U.S. note 2 to this subchapter . . . . . . ” in lieu thereof;
(b) heading 9903.01.63 of the HTSUS shall be amended by deleting “125%” each place that it appears and by inserting “34%” in lieu thereof;
(c) subdivision (v)(xiii)(10) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall be amended by deleting “125%”, and by inserting “34%” in lieu thereof; and
(d) heading 9903.01.63 and subdivision (v)(xiii)(10) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS are hereby suspended for a period of 90 days beginning at 12:01 a.m. eastern daylight time on May 14, 2025.
Sec. 4. De Minimis Tariff Decrease. To ensure that the reduction in duties pursuant to section 2 of this order is made fully effective and the purpose of Executive Order 14257, as amended, is not undermined, I also deem it necessary and appropriate to:
(a) decrease the ad valorem rate of duty set forth in section 2(c)(i) of Executive Order 14256 of April 2, 2025 (Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People’s Republic of China as Applied to Low-Value Imports), as modified by Executive Order 14259 and Executive Order 14266, from 120 percent to 54 percent;
(b) retain in effect the per postal item containing goods duty of 100 dollars in section 2(c)(ii) of Executive Order 14256, as modified by Executive Order 14259 and Executive Order 14266, that has been in effect since 12:01 a.m. eastern daylight time on May 2, 2025, unless and until otherwise modified by a subsequent executive action, notwithstanding the increase contemplated effective June 1, 2025, pursuant to Executive Order 14256, as modified by Executive Order 14259 and Executive Order 14266; and
(c) modify the HTSUS, effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on May 14, 2025, as follows:
(i) subdivision (w) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall be amended by deleting “120 percent”, and by inserting “54 percent” in lieu thereof; and
(ii) subdivision (w) of U.S. note 2 to subchapter III of chapter 99 of the HTSUS shall be amended by deleting “, and before 12:01 a.m. eastern daylight time on June 1, 2025. For merchandise entered for consumption on or after 12:01 a.m. eastern daylight time on June 1, 2025, the applicable specific duty rate is $200 per postal item containing such goods.”
Sec. 5. Implementation. The Secretary of Commerce, the Secretary of Homeland Security, and the United States Trade Representative, as applicable, in consultation with the Secretary of State, the Secretary of the Treasury, the Assistant to the President for National Security Affairs, the Assistant to the President for Economic Policy, the Senior Counselor to the President for Trade and Manufacturing, and the Chair of the United States International Trade Commission, are directed to take all necessary actions to implement and effectuate this order, consistent with applicable law, including through temporary suspension or amendment of regulations or notices in the Federal Register and adopting rules and regulations, and are authorized to take such actions, and to employ all powers granted to the President by IEEPA, as may be necessary to implement this order. Each executive department and agency shall take all appropriate measures within its authority to implement this order.
Sec. 6. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department, agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(d) The costs for publication of this order shall be borne by the Department of Commerce.
DONALD J. TRUMP
Trump issued an odd order attempting to address the price of prescription drugs.
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:
Section 1. Purpose. The United States has less than five percent of the world’s population and yet funds around three quarters of global pharmaceutical profits. This egregious imbalance is orchestrated through a purposeful scheme in which drug manufacturers deeply discount their products to access foreign markets, and subsidize that decrease through enormously high prices in the United States.
The United States has for too long turned its back on Americans, who unwittingly sponsor both drug manufacturers and other countries. These entities today rely on price markups on American consumers, generous public subsidies for research and development primarily through the National Institutes of Health, and robust public financing of prescription drug consumption through Federal and State healthcare programs. Drug manufacturers, rather than seeking to equalize evident price discrimination, agree to other countries’ demands for low prices, and simultaneously fight against the ability for public and private payers in the United States to negotiate the best prices for patients. The inflated prices in the United States fuel global innovation while foreign health systems get a free ride.
This abuse of Americans’ generosity, who deserve low-cost pharmaceuticals on the same terms as other developed nations, must end. Americans will no longer be forced to pay almost three times more for the exact same medicines, often made in the exact same factories. As the largest purchaser of pharmaceuticals, Americans should get the best deal.
Sec. 2. Policy. Americans should not be forced to subsidize low-cost prescription drugs and biologics in other developed countries, and face overcharges for the same products in the United States. Americans must therefore have access to the most-favored-nation price for these products.
My Administration will take immediate steps to end global freeloading and, should drug manufacturers fail to offer American consumers the most-favored-nation lowest price, my Administration will take additional aggressive action.
Sec. 3. Addressing Foreign Nations Freeloading on American-Financed Innovation. The Secretary of Commerce and the United States Trade Representative shall take all necessary and appropriate action to ensure foreign countries are not engaged in any act, policy, or practice that may be unreasonable or discriminatory or that may impair United States national security and that has the effect of forcing American patients to pay for a disproportionate amount of global pharmaceutical research and development, including by suppressing the price of pharmaceutical products below fair market value in foreign countries.
Sec. 4. Enabling Direct-to-Consumer Sales to American Patients at the Most-Favored-Nation Price. To the extent consistent with law, the Secretary of Health and Human Services (Secretary) shall facilitate direct-to-consumer purchasing programs for pharmaceutical manufacturers that sell their products to American patients at the most-favored-nation price.
Sec. 5. Establishing Most-Favored-Nation Pricing. (a) Within 30 days of the date of this order, the Secretary shall, in coordination with the Assistant to the President for Domestic Policy, the Administrator for the Centers for Medicare and Medicaid Services, and other relevant executive department and agency (agency) officials, communicate most-favored-nation price targets to pharmaceutical manufacturers to bring prices for American patients in line with comparably developed nations.
(b) If, following the action described in subsection (a) of this section, significant progress towards most-favored-nation pricing for American patients is not delivered, to the extent consistent with law:
(i) the Secretary shall propose a rulemaking plan to impose most-favored-nation pricing;
(ii) the Secretary shall consider certification to the Congress that importation under section 804(j) of the Federal Food, Drug, and Cosmetic Act (FDCA) will pose no additional risk to the public’s health and safety and result in a significant reduction in the cost of prescription drugs to the American consumer; and if the Secretary so certifies, then the Commissioner of Food and Drugs shall take action under section 804(j)(2)(B) of the FDCA to describe circumstances under which waivers will be consistently granted to import prescription drugs on a case-by-case basis from developed nations with low-cost prescription drugs;
(iii) following the report issued under section 13 of Executive Order 14273 of April 15, 2025 (Lowering Drug Prices by Once Again Putting Americans First), the Attorney General and the Chairman of the Federal Trade Commission shall, to the extent consistent with law, undertake enforcement action against any anti-competitive practices identified within such report, including through use of sections 1 and 2 of the Sherman Antitrust Act and section 5 of the Federal Trade Commission Act, as appropriate;
(iv) the Secretary of Commerce, and the heads of other relevant agencies as necessary, shall review and consider all necessary action regarding the export of pharmaceutical drugs or precursor material that may be fueling the global price discrimination;
(v) the Commissioner of Food and Drugs shall review and potentially modify or revoke approvals granted for drugs, for those drugs that maybe be unsafe, ineffective, or improperly marketed; and
(vi) the heads of agencies shall take all action available, in coordination with the Assistant to the President for Domestic Policy, to address global freeloading and price discrimination against American patients.
Sec. 6. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or the head thereof; or
(ii.) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(d) The Department of Health and Human Services shall provide funding for publication of this order in the Federal Register.
DONALD J. TRUMP
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