News Story of the Day: Is Knox County ready for hellfire and brimstone! The Big Red Monster is running for mayor as a Republicans! By gawd!
Glenn Jacobs, better known as Kane from the WWE, has confirmed that he has won the Republican nomination for Knox County mayor. Jacobs has been a stellar libertarian and has been eloquent on all things economics.
Let’s hope this is the start of something magical for Jacobs and his political career moving forward. Let’s also hope that he sticks to his libertarian convictions and doesn’t abandon his principles like so many others who claim they’re libertarian.
Chart of the Day: since the rise of Jordan Peterson, it is safe to say that there has been a renewed interest in Christianity and religion overall from young people. But their views on a higher power are riveting as many think there is a vengeful God rather than a peaceful one.
Illustration of the Day: want to see what the free speech debate has become?
Quote of the Day: Veronique de Rugy wrote an incredible piece for Reason titled “Is Ethanol Cronyism on the Ropes?” Here is an excerpt:
While then-candidate Donald Trump didn’t participate in the usual campaign ritual of bending knee to Iowa farmers with a promise to protect the renewable fuel standard, there was reason to hope his pledge to drain the swamp would extend to ending or reforming the beleaguered mandate that requires most gasoline to be blended with ethanol. After all, the once seemingly unstoppable political clout of Iowa’s agricultural interests was notably weakened when Ted Cruz defied convention by openly opposing the renewable fuel standard and won the Republican Iowa caucuses anyway.
Perhaps Hawkeye State voters are no longer as into cronyism as the cronies and their representatives, which fuels hope that Trump may yet push for RFS reform.
Congress created the requirement to blend plant-based ethanol into the nation’s fuel supply supposedly out of concern for greenhouse gas emissions, as well as out of a fear that consumers would become increasingly reliant on foreign fuels just as global oil prices seemed to be skyrocketing.
It was wrong on both counts. The Government Accountability Office consistently projects that the RFS won’t meet its goal to reduce greenhouse gas emissions. In stark contrast, a 2016 University of Minnesota study finds that an unintended consequence of the biofuel mandate is that it actually increases net greenhouse gas emissions.
As the authors explain, the RFS creates a “market rebound effect” whereby the mandated expansion of biofuel production increases the overall fuel supply. This in turn lowers fuel prices, which encourages greater consumption. The lower emissions from biofuel use, based on Environmental Protection Agency figures, aren’t enough to offset the overall increase in fuel consumption. And this analysis doesn’t even get into the debate over the full life-cycle impact of ethanol production.
Likewise, seeing as politicians hold no special insight into future market developments, it should come as little surprise that their worries about dependence on foreign oil were negated by the U.S. shale oil and fracking boom and the subsequent drop in global oil prices.
Tweet of the Day: newsflash: the mainstream, the left, the neoconservatives, and even supporters of President Donald Trump do not want peace in the Korean Peninsula. Ron Paul sums it up nicely:
The mentality of EMPIRE captured in a single headline…It’s well past time to ditch the EMPIRE delusion. pic.twitter.com/bfVTJ5d9Bo
— Ron Paul (@RonPaul) May 4, 2018
Thought of the Day: though it is a lot more likely that Kanye West is trolling the right then suddenly becoming the next disciple of Thomas Sowell, Milton Friedman, or William F. Buckley, the left’s fiery reaction has been both hilarious and tragic. Radio stations are banning his music, rappers are out for blood, and leftist politicians are essentially telling him to “shut up and sing” a la Laura Ingraham.
Video of the Day: Alex Jones and Ben Shapiro are battling it out on Twitter over Shapiro encouraging Kanye West and Candace Owens to skip an appearance on InfoWars. This did not make Jones happy, prompting him to perform a terrible but hilarious impression of The Daily Wire editor-in-chief.
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