The RealClearMarkets/TIPP Economic Optimism Index, a leading gauge of consumer sentiment, dropped sharply 3.1 percent in June to 40.5. Since September 2021, the index has remained in negative territory for 34 consecutive months. June’s reading of 40.5 is 17.6 percent lower than the historic average of 49.2.
Optimism among investors edged up 0.4 percent from 46.3 in May to 46.5 in June, while it slumped by 6.0 percent among non-investors, from 40.1 in May to 37.7 in June.
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One would be hard-pressed to find many Americans today who look back at the pandemic with fondness or admiration for the way in which our government – including our public health officials – responded to the COVID-19 pandemic. The mistakes made were legion, the cost mind-blowing, and the misconduct even worse. Indeed, Anthony Fauci, the very face of the pandemic for most Americans, seems to have embodied a contempt for integrity in government. His record-keeping practices and aversion to congressional and public oversight were the epitome of bureaucratic arrogance.
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Offshore drilling has been a cornerstone of global energy production since the 1800s, fueling the American way of life and powering the global economy. From the early days of “on-water-drilling” to the advancement of the fixed platform units of today, offshore drilling has consistently contributed around 30 percent of global oil production. In the U.S., supply on federal offshore lands in the Gulf of Mexico alone accounts for approximately 15 percent of total crude oil production.
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by Philip Wegmann Spurred by the volcanic temper of their base, Republicans are now preparing to scorch the earth in the wake of former President Donald Trump’s conviction, potentially setting off a chain reaction that could fundamentally alter the American political system entirely. No one knows exactly how far…
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If the devil is in the details, bureaucracy is hell on earth. Though terrain familiar to the Biden administration, Republicans must prepare to navigate it.
Witness the debacle over liquefied natural gas exports, wherein the White House, by “pausing” most new approvals, has catapulted the energy security of key U.S. allies straight into the buzzsaw of its climate ambitions. (The category of exports that will continue to be authorized is tiny.) The Department of Energy claims that a multifactor impact study due in early 2025 is required to determine whether and how the moratorium will be lifted.
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This summer the Supreme Court will rule on a case involving what a district court called perhaps “the most massive attack against free speech” ever inflicted on the American people. In Murthy v. Missouri, plaintiffs ranging from the attorneys general of Missouri and Louisiana to epidemiologists from Harvard and Stanford allege that the federal government violated the First Amendment by working with outside groups and social media platforms to surveil, flag, and quash dissenting speech – characterizing it as mis-, dis- and mal-information – on issues ranging from COVID-19 to election integrity.
The case has helped shine a light on a sprawling network of government agencies and connected NGOs that critics describe as a censorship industrial complex. That the U.S. government might aggressively clamp down on protected speech, and, certainly at the scale of millions of social media posts, may constitute a recent development. Reporting by RCI and other outlets – including Racket News’ new “Censorship Files” series, and continuing installments of the “Twitter Files” series to which it, Public, and others have contributed – and congressional probes continue to reveal the substantial breadth and depth of contemporary efforts to quell speech that authorities deem dangerous. But the roots of what some have dubbed the censorship industrial complex stretch back decades, born of an alliance between government, business, and academia that Democrat Sen. William Fulbright termed the “military-industrial-academic-complex” – building on President Eisenhower’s formulation – in a 1967 speech.
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The House Oversight and Accountability Committee has launched an investigation into potential vulnerabilities in the Secret Service’s ability to protect President Biden, Vice President Harris, and former President Donald Trump and their families after an incident last month raised new concerns about the agency’s diversity, equity, and inclusion hiring decisions and vetting process.
Rep. James Comer, a Kentucky Republican who chairs the panel, sent Secret Service Director Kimberly Cheatle a letter Thursday requesting an agency briefing on the matter by June 13.
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In June 2023, the Bureau of Ocean Energy Management proposed a rule that would require stricter financial assurance standards for oil companies operating in the Outer Continental Shelf. This costly rule became final on April 15, 2024, but in the 10 months since its initial proposal, BOEM did nothing to alleviate concerns for smaller companies that comprise of 76 percent of oil and gas operators in the Gulf. As a result, many of these companies could be forced out of business by extreme and unnecessary costs from this rule. The situation threatens an estimated 36,000 jobs, more than $570 million in federal government royalties, and $9.9 billion from our GDP.
Records obtained via the Freedom of Information Act show private meetings between Interior officials and representatives of the major oil companies as they cooperated on this rule. If you think that’s strange, you’re not alone. President Biden made clear in his campaign that he wanted to end oil and gas production on public lands. It’s baffling that Big Oil – among the administration’s most, if not the most, maligned businesses – would stand on the same side with environmental groups such as the Sierra Club who praised the rule. But needless government intervention makes strange bedfellows. Big Oil must think it won’t miss the small competitors the rule will drive from the market.
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AI-powered image generators were back in the news earlier this year, this time for their propensity to create historically inaccurate and ethically questionable imagery. These recent missteps reinforced that, far from being the independent thinking machines of science fiction, AI models merely mimic what they’ve seen on the web, and the heavy hand of their creators artificially steers them toward certain kinds of representations. What can we learn from how OpenAI’s image generator created a series of images about Democratic and Republican causes and voters last December?
OpenAI’s ChatGPT 4 service, with its built-in image generator DALL-E, was asked to create an image representative of the Democratic Party (shown below). Asked to explain the image and its underlying details, ChatGPT explained that the scene is set in a “bustling urban environment [that] symbolizes progress and innovation . . . cities are often seen as hubs of cultural diversity and technological advancement, aligning with the Democratic Party’s focus on forward-thinking policies and modernization.” The image, ChatGPT continued, “features a diverse group of individuals of various ages, ethnicities, and genders. This diversity represents inclusivity and unity, key values of the Democratic Party,” along with the themes of “social justice, civil rights, and addressing climate change.”
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The outlook for nuclear power is bright on the world stage. Global demand for clean nuclear energy is higher than we have ever seen. The U.S. and 20 allied nations pledged to triple global nuclear energy capacity by 2050 at COP28, and a multinational survey reaffirmed last year — the world wants new nuclear.
In Washington, D.C., bipartisan support for nuclear energy has never been greater. Propelled by the House passing the ADVANCE Act 393-13 this month and momentum for passage in the Senate, Congress deserves some credit this year for working to help speed up the deployment of next-generation reactors, fueling hope for an American future powered by clean energy.
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