Dec. 2, 2008 Melanie Phillips: The Mumbai atrocity is a wake-up call for a frighteningly unprepared world Stratfor Geopolitical Intelligence Report: Strategic Motivations for the Mumbai Attack Dec. 1, 2008 Max Freidlander, as told to Jacklyn C. Wadler: India Inkings Mark Steyn: Whodunit!? Nov. 28, 2008 Rabbi Ahron Rapps: An evil seed that didn't have to be Melanie Phillips: Carpe diem --- or can we all relax now? Nov. 26, 2008 Michael Feldberg: Meet the Orthodox Jew who laid groundwork for scientific development of ordnance that undergirds America's current world leadership Andrea Simantov: Shades of life Nov. 25, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir : Getting Emotional For Influence The Kosher Gourmet by Ethel G. Hofman : Thanksiving feast! Nov. 24, 2008 Rabbi S. Binyomin Ginsberg: 'I just Became a grandchild!' Barry Rubin: Don't flatter your enemies, protect your friends Nov. 21, 2008 Rabbi A. Henach Leibowitz: Money matters? Caroline B. Glick: Civilization walks the plank Nov. 20, 2008 Rabbi Avi Shafran: Bronfman's blindness The Kosher Gourmet By Linda Gassenheimer: Portobellos add a hearty flavor to pasta with pesto Nov, 19, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir : Spread the wealth? Jewish tradition and income equality Elliot B. Gertel: 'Mad Men': Tackling prejudices or reinforcing them? Nov, 18, 2008 Dr. Debby Schwarz Hirschhorn: The End of the Age of Reason Jonathan Tobin: Does Barack + Bibi = Disaster? Nov, 17, 2008 Rabbi Yonason Goldson: The End of the Age of Reason Diana West: Gulling Americans into making terror legit? Nov, 14, 2008 Rabbi A. Henach Leibowitz: The Power of Spiritual Inertia Caroline B. Glick: The perils ahead Nov, 13, 2008 Stratfor Intelligence Briefing: How Bush and Obama together could change the Middle East dynamic The Kosher Gourmet by JeanMarie Brownson: Sweet and savory, crispy and meltingly tender bestilla Nov, 12, 2008 The Jewish Ethicist by Rabbi Dr. Asher Meir : Tyrannical Co-Workers Michael Doyle: High Court to consider today donated monuments that may have religious messages in public parks Nov, 11, 2008 Frank J. Gaffney, Jr.: Will Obama stop government officials considering institutionalizing financial jihad? Jonathan Tobin: They Will Decide Their Own Fate Nov, 10, 2008 Rabbi Avi Shafran: $8 billion, modern-day Tower of Babel being built? Barry Rubin: A letter to the president-elect from a Middle East realist Nov, 7, 2008 Rabbi Francis Nataf: Of Children and Immortality Caroline B. Glick: Livni's Obama strategy Nov, 6, 2008 Rabbi Yonason Goldson: How I tricked a classroom of apathetic students into grasping the fallacy of moral relativism The Kosher Gourmet By Gina Kim: Tips for making the perfect soup --- includes recipes Nov, 5, 2008 The Jewish Ethicist By Rabbi Dr. Asher Meir: Destitute Debtors Bruce Weinstein: 'Religulos': Bad title,even worse movie Nov, 4, 2008 Frank J. Gaffney, Jr.: Treasury Dept. submits to Shariah law Frida Ghitis: A surprise for Obama in the Middle East Nov, 3, 2008 Jonathan Rosenblum: Who says Jews are Smart? Jonathan Tobin: Was He Wrong About Everything? March 22, 2007 J-Rhythms with Avraham Rosenblum: JWR's cutting-edge music program showcasing performers -- singers, song writers, musicians, and bands -- who learn and live the Torah lifestyle (OUR NEWEST IGODCAST !) Oct. 29, 2003 Mortimer B. Zuckerman: Graffiti On History's Walls (MUST-READ!)

Jewish World Review April 5, 2007 / 17 Nissan, 5767 The real reason for ‘soaring’ gas prices By George Will http://www.JewishWorldReview.com | THEY COME with metronomic regularity, these media stories about "soaring" gasoline prices and the causes thereof, news stories which always identify the same two culprits, supply and demand. The stories always give various reasons why supplies are tight — more often, why prices include a risk premium based on fears that supplies might become tight — or why demand is higher than it "should" be, given supposedly high prices. Today, as the price of a gallon of regular ($2.70 nationally on Monday) "soars" almost to where it was (measured in constant dollars) in 1982, the "news" is: "Drivers Offer a Collective Ho-Hum as Gasoline Prices Soar" (The New York Times, last Friday). People are not changing their behavior because the real, inflation-adjusted cost of that behavior has not changed significantly, and neither has the cost of the commodity in question, relative to disposable income. The next wave of stories about "soaring" gas prices will predictably trigger some politicians' indignation about oil companies' profits. The day after Exxon Mobil's announcement that it earned $39.5 billion in 2006, Hillary Clinton said: "I want to take those profits, and I want to put them into a strategic energy fund that will begin to fund alternative smart energy, alternatives and technologies that will begin to actually move us toward the direction of independence." Clinton's "take" reveals her confiscatory itch. Her clunky "toward the direction of" suggests that she actually knows that independence is as chimeric a goal as Soviet grain production goals were. President Bush proposes reducing gasoline usage 20 percent in 10 years. Perhaps: After the oil shocks of the late 1970s, gasoline consumption fell 12 percent and did not again reach 1978 levels until 1993. This decline was produced by an abrupt and substantial increase in the price of gasoline, which no politician, least of all the President, is proposing. And we actually could get lower prices because the President and various presidential candidates have become such enthusiasts for federal subsidies for ethanol and other alternative fuels. FREE SUBSCRIPTION TO INFLUENTIAL NEWSLETTER Every weekday NewsAndOpinion.com publishes what many in the media and Washington consider "must-reading". HUNDREDS of columnists and cartoonists regularly appear. Sign up for the daily update. It's free. Just click here. If these fuels threaten seriously to dampen demand for oil, the Saudis might increase production enough to drive down oil prices, in order to make investments — investors beware — in alternative fuels even more uneconomic than they already are. In the 20 years from 1987 to 2006, Exxon Mobil invested more ($279 billion) than it earned ($266 billion). Five weeks after the company announced its 2006 earnings, it said it will invest $60 billion in oil and gas projects over the next three years. It will, unless a President Clinton and a Democratic-controlled Congress "take" Big Oil's profits, which are much smaller than Big Government's revenue from gasoline consumption. Oil companies make about 13 cents on a gallon of gas. Government makes much more. The federal tax is 18.4 cents per gallon. Mrs. Clinton's New York collects 42.4 cents a gallon. Forty-nine states — all but Alaska — make more than the oil companies do on every gallon. In 1979 President Jimmy Carter, an early practitioner of the Oh, woe! School of Planetary Analysis (today Al Gore is the dean of that school), said that oil wells were "drying up all over the world." Not exactly. In 1971, according to M.A. Adelman, an MIT economist, non-OPEC countries had remaining proven reserves of 200 billion barrels. After the next 33 years of global economic growth, Adelman says, those countries had produced 460 billion barrels and had 209 billion remaining. As for OPEC countries, in 1971 they had 412 billion in proven reserves; by 2004 they had produced 307 billion and had 819 billion remaining. Note the adjective "proven." In 1930, U.S. proven reserves were 13 billion barrels. Then we fought a global war, fueled the largest, most sustained economic expansion in human history, and achieved today's electricity-powered "information economy." Today, America's proven reserves are about 30 billion barrels — not counting the perhaps 15 billion in the field discovered last year in deep water 175 miles off Louisiana's coast. America produces about one-quarter of the 20.6 million barrels of oil it uses a day. Unfortunately, just as liberals love employees but not employers, they want energy independence but do not want to drill in the "pristine" (read: desolate) Arctic National Wildlife Refuge (potential yield: 10.4 billion barrels) and are reluctant to countenance drilling offshore. Well, then, what can be done immediately about the gasoline "crisis" du jour? Americans could save 1.2 billion of the 130 billion gallons of gasoline they use a year if they would properly inflate their tires. And they might do that if ever "soaring" prices actually make gasoline unusually expensive. Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here. George Will's latest book is "With a Happy Eye but: America and the World, 1997-2002" to purchase a copy, click here. Comment on this column by clicking here. Archives © 2006 WPWG

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