Why is it that natural gas sells in the U.S. for $3.94 per 1,000 cubic feet and in Europe and Japan for $11.60 and $17, respectively? Part of the answer is our huge supply. What partially explains the high European and Japanese prices is the fact that global natural gas markets are not integrated. Washington has stringent export restrictions on natural gas.
How can they think they’re capable of managing a complex health care system, one-seventh of the entire U.S. economy, when they can’t even build a half-decent statue?
That’s the question that came to mind about the bureaucrats, politicians, and central planners in D.C. when I saw that Chinese sculptor Lei Yixin was busy doing major re-carving in order to conceal an incorrect phrase at the $110 million Martin Luther King, Jr. Memorial in Washington that he designed.
A certain very erudite and always entertaining social critic remarked recently that he always thought the worst of people. He went on to say — perhaps, at most, half jokingly — that he was always right about them, too. He then revealed that he actually had been very trusting as a boy; that he believed everyone and often got taken advantage of. He certainly doesn’t get taken advantage of much now, I’m sure. But what he doesn’t know is that in one significant way he hasn’t changed at all.