Hand out cash to state capitals paid for with an energy tax. They will be forced to spend in energy efficient manner, perhaps even saving some on deposit.
Since the tax is domestic, Texas is still free to export oil.
Hand out cash to state capitals paid for with an energy tax. They will be forced to spend in energy efficient manner, perhaps even saving some on deposit.
Since the tax is domestic, Texas is still free to export oil.
The two year rate now .16 and the on year at .05 My long observation tells me a 15 basis point difference will get a bond trader on the job. At that point Congress gets into a battle over interest charged and Janet begins borrowing the one year. The Fed follows and we get a rate cycle while the Senators figure out how to pay the sudden increase in interest charges.
From the time Biden assumed power until now, the interest charges have increase by about 260 billion. That is a 5% hole in the budget and the Californians are quite shaken in their beliefs of free money. We are about two weeks away from rate cycle if the ten year yield keeps rising at its daily rate.
Saudi press accuses US of supporting terrorism, abusing human rights
Texas has not joined OPEC and is not likely to. The Saudis want oil at 70, their minimum. Bu that triggers the Texas frackers. Texas is the new OPEC on the block.
The Texans are backed by Congress who is willing to suffer ten year yields of two percent, keeping the dollar high and oil cheap.