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Unleash Prosperity Hotline
Issue #1252
04/28/2025
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1) Welcome to Saudi America
Thanks to the fracking and horizontal drilling revolution, the U.S. has retaken the lead in global oil production. In 15 years, domestic oil production has roughly doubled. So much for running out of oil.
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This American energy lead is likely to widen with Trump's "energy dominance" campaign. Today, it is less expensive to drill for a barrel of oil than anytime in world history.
More good news: we're also number 1 in clean coal (500 years of reserves) and super-clean natural gas (250 years).
We can't think of a stupider idea than for the U.S. to "transition" to expensive, unreliable, and non-scalable "green energy."
This would be like Iowa leading a campaign for the world to eat less corn.
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2) Who Said It?
"I think monopoly can be as dangerous in many ways as big government."
A. Bernie Sanders
B. Elizabeth Warren
C. Lina Khan
D. Karl Marx
It's a trick question, because the correct answer is "none of the above."
Believe it or not, this is the philosophy of our new super-regulator-in-chief, Andrew Ferguson, who now runs the Federal Trade Commission.
He made this witless comment at a recent conference:
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Mr. Ferguson is quickly turning into one of Trump's most anti-business super-regulators. His antitrust and anti-merger actions are ALREADY draining billions of dollars from the U.S. economy. If he's truly concerned about monopoly power, he should be aiming his attacks at government-chartered ones, such as the Postal Service, the public schools, Amtrak, and Medicare. THESE monopolies all have something in common: runaway costs, that lead to ever higher prices, in exchange for lousy service.
Meanwhile, the private "monopolies" that he's after - like Google, Meta, credit card companies - all continually LOWER their prices.
How is that anti-consumer?
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3) Time for the World Economic Forum To Go Away for Good
WEF founder, Klaus Schwab, has suddenly stepped down as WEF Chairman, following whistleblower allegations that he engaged in sexual harassment and manipulated WEF's research reports.
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In the 1980s, Schwab was the first to push "stakeholder capitalism," the inspiration for today's ESG movement. In the 1990s, he peddled distorted data on rising "inequality." In the 2000s he supported raising taxes. In the 2010s, he gave climate change extremists such as Greta Thunberg exposure and validation.
Most unforgivable, was WEF's declaration during COVID that it was the perfect time to "reinvent" capitalism and squash economic freedom. In its "Great Reset" report, it urged the world to "think about the kind of future we want' and move towards collectivism.
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Given its perfect record of being wrong on every economic issue of the last 50 years, now would be a good time for the WEF to go away for good.
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4) Quote of the Day - Why Raising Taxes Never Works
A great piece in the WSJ by former Reagan speechwriter Kenneth Khachigian reminds us of what happened when Reagan was snookered into raising taxes 40 years ago.
“In 1988 Reagan complained that the 1982 tax increase that he reluctantly embraced was among the worst decisions of his presidency.”
"The fellas promised I would get $3 of spending cuts for every $1 of taxes I agreed to. Instead, for every dollar of new taxes we got $1.70 in new spending - the complete reversal of what I was promised."
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We would add that on several occasions when taxes were proposed to Reagan during his second term, he would fume: "I'm still waiting for those three dollars of spending cuts they promised me the last time we raised taxes." They never came.
Reagan learned his lesson the hard way. Will President Trump and the current Republicans in Congress?
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5) No Joke: The Climate Industrial Complex Is Getting Ideas from the Simpsons
The climate change apocolyptics are running out of ideas on how to save the planet.
Call it a Hail Mary pass by climate change fanatics.
So now, the greens in Britain are funding a slew of experiments ranging from injecting aerosols into the atmosphere to brightening clouds to reflect sunlight. So Britain now wants to dim the sun at the same time it spends billions to cover its land with solar panels to collect it. Where did this idea come from? The TV show the Simpsons.
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6) Beauty Is Nothing Without Brains
This Mercedes ad is the funniest of the year.
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