Wednesday, May 4, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found


VideoFound: Male Lab mix, light brown, neon orange collar (Reminton), St. Hedwig near Lubianski's Feed store. 210-859-1546.
*Includes FREE photo online! mywcn.com/lostandfound

VideoLost orange & white female fox terrier on 5/1/16 near 775 & 3432. Please contact Lindsay @ 210-284-0094. Thanks.
More Lost & Found ads ›

Help Wanted

CITY OF POTH is currently accepting applications for the position of Utility Worker through May 6, 2016. Must be able to stand and walk for most of the day, operate heavy equipment. Outdoor work required all year-round, High School Diploma or equivalent, Valid Texas Driver’s License, Class D Waste Water/Water a plus. Pre-employment physical and drug test is required if a tentative offer of employment is made. Applications available at Poth City Hall, 200 N. Carroll St. Poth, TX and at cityofpoth.org, benefit package, EOE.
Highway Construction Company has openings for laborers to install guardrail on the highway in San Antonio area. Call 210-633-9268 or 830-216-7420. EOE.
More Help Wanted ads ›

Featured Videos





Video Vault ›
TNMCRE/MAX homeRichardson Chevrolet home
You’ve been granted free access to this subscribers only article.

Section A: General News


Letter: An economist looks at ‘Drill, baby, Drill’




E-Mail this Story to a Friend
Print this Story
April 4, 2012 | 2,197 views | 4 comments

Re: “Drill, baby, drill ... really?” March 28

In his guest column, Tracy Bogert advances the argument that the slogan, “Drill, baby, Drill,” is political rhetoric that has little basis in economics. Although Bogert makes several sound points, his conclusions are a bit off base. It is simple demand-and-supply analysis to conclude that, as supply increases, other things being equal, the prices of oil and gas will decrease.

The key elements are the magnitude of the supply increases and the elasticity of demand. Oil and gasoline demand is highly inelastic, so only very large supply increases will significantly decrease gasoline prices. That is, if the oil supply increases by 10 percent, gasoline prices might only decrease by 3 percent.

American drivers value their mobility so highly, that as gasoline prices have increased from $2.60 per gallon to $3.60 per gallon, they have cut back their driving very little. And, yet, is there a driver who would not appreciate a drop in the price of gasoline, even if only 15 or 20 cents per gallon?

Yes, it is true that as energy demand has surged in China and India, the world demand for energy has surged commensurately; thereby, American production is a much smaller percentage of overall oil production than it was, say, 30 years ago. However, it is disingenuous to argue that American production is irrelevant.

Natural gas prices have collapsed, because increased natural gas production from shale formations across the country has dramatically boosted supply relative to demand. Over time, natural gas demand will catch up to supply, as natural gas becomes a fuel for automobiles and trucks. But I don’t see a similar increase in production and decrease in prices for oil. As Bogert states, the world production of oil is so enormous, that it is not reasonable to argue that American production can increase in a few years to overwhelm the world oil market.

Furthermore, the impact of oil production is far beyond a “bunch of folks grubbing and grabbing for their piece of the pie,” as Bogert stated. Landowners, their families, and their communities benefit. Yes, oil drilling and transport and refining is tough, dirty, and dangerous business. But can anyone seriously argue that Eagle Ford is not a boom to the South Texas economy?

So, it is correct to state that “Drill, baby, Drill” is not a panacea for ending high oil and gas prices. But I prefer that oil money stay -- or start, anyhow -- in Texas. And if Alaska exports to Japan, who cares? I want Alaska to prosper. I want North Dakota to prosper. As American oil production ramps up, the American economy will benefit.

Why send oil money to sheiks, emirs, and dictators?

GARY CARMAN, Ph.D., ChFC

Floresville

Editor’s Note: Carman is a Retired Distinguished Professor Emeritus of Economics, Texas State University.
 

Your Opinions and Comments

 
4 th Generation Texan  
Sutherland Springs  
April 5, 2012 1:16pm
 
"Tracy Bogert advances the argument that the slogan, “Drill, baby, Drill,” is political rhetoric that has little basis in economics." Does this guy know what 1 Trillion barrels (estimated reserves) of petroleum ... More ›

 
The Marcelina Muse  
Dry Tank, TX  
April 5, 2012 10:45am
 
You succinct son-of-a-gun you.

 
Rock'n chair Rambler  
Over Taxed, TX  
April 4, 2012 5:54pm
 
Kinda of a long winded way to just say Tracy Jo don't know his butt from a hole in the ground about oil or anything else. Nuf said.

 
The Marcelina Muse  
Dry Tank, TX  
April 4, 2012 1:46pm
 
Well see Gary, here's the thing. Too be a competent and successful socialist you have to disguise the lie. Throw in a bunch of real figures along with the made up ones. And, most importantly, never, never apply the logic test ... More ›

Share your comment or opinion on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Section A: General News Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. Appraisal district board votes to resume construction (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Baylor University awards Cody Soto (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Swan lake (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Budget Blinds of La Vernia receives national award (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Celebrate hospital’s Grand Opening (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Children’s Alliance plans ribbon-cutting (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. County judge breaks tie vote (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Court Update (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Cowboy Fellowship celebrates 13 years in Jourdanton (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Earth Day plant sale April 30 (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: It’s time to get out and vote for the best for our city (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Quit whining and play by the party rules (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Emergency-services area may expand to cover City View (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville chamber is on the move (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville Event Center’s no-BYOB policy here to stay (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville man honored with service award (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free ‘Shred Day’ in San Antonio (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Get outside and connect with nature (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Help CASA during the Big Give (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hospital receives audit report, notes record month (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia EMS: Four decades of care (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Learn about hosting a foreign exchange student (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Anyone listening? (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Clarity around FEDC contributions (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Unreliable weather forecasts (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Life Line Screening available (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Loan converts to a scholarship (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Master Gardener orientation (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Falls City ISD (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Floresville Planning & Zoning Commission (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Parks plan is still ‘wish list’ (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Ramirez promoted to Colonel (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Scammers target CPS Energy customers (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Support children through Big Give (April 27, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. ACTS skeet shoot May 7 in Marion (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Annexation for La Vernia EMS? (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Brahma Happenings: Jackson’s Journey, HOPE fund-raisers, more (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Challenger Water Solutions set to close deal in Stockdale (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Coach to take on athletics for his alma mater (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Community Resource Fair (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Crisis Center plans fund-raising events (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. District 3 considers substation in Sutherland Springs (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Early voting begins on Tuesday in (another) election (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: The ‘voice of the people’ fallacy (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Elmendorf wades into developing its own municipal water system (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Emergency service, via helicopter (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Entertainment lineup for the Jubilee (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FEDC OKs July 3 ‘Freedom Fest’ (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville parks plan: an analysis (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hail pounds ‘like a thousand hammers' (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Housing seminar set (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia: New home for Wilson County’s performing arts? (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: A word of caution to advertisers (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Eating sustainably (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Obama’s executive ‘lawlessness’ rears its ugly head (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Wilson County lacks animal control (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meet the Floresville candidates, ask questions April 21! (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Poth ISD (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Stockdale ISD (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Missions to include Floresville’s Rancho (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Poth VFW Post 8555 honors students, teachers, guests (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Small-business training webinars (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Special meeting April 21 for Floresville parks master plan (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Talk about boundaries (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Walk to end child abuse (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Wilson County’s unemployment rises (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Yanta: Prosper the work of our hands (April 20, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Apply now for Baptist Health Foundation community grants (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Authorities arrest cattle rustler (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Screams, spins, speed (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Christian counseling comes to Wilson County (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Doctor will close Floresville office (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Before you reject the system, understand it (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Football great Will Smith and mental illness in America (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: White House needs a mature president — not ‘The Donald’ (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Federal funding for community projects (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Free senior exercise classes at OKMH (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Kicaster Cemetery meeting April 21 (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia UMC to hold blood drive (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Extra effort (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: The importance of no Supreme Court hearing (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Mayor recaps infrastructure projects (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: China Grove City Council (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: La Vernia ISD (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Meeting Watch: Wilson County Commissioners Court (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. National Lineman Appreciation Day (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pair face felony charges for graffiti on Enchanted Rock (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pair lead police on high-speed chase (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Poth cemetery plans cleanup (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Pray to end child abuse on April 24 (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Rainbow Play Systems recalls trapeze rings (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Registration for Alzheimer’s, dementia care training is open (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save the date for Bike Rodeo, Bike-A-Thon (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Scammers hijack smartphones in new ransomware scam (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Selling sentimental stuff (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Start Smart your business April 28 (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale city limits expand (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale library seeks donations (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Stockdale officials approve open carry gun ordinance (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Truck strikes man on highway (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Vets service offers online links (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Workshop energizes teachers to educate about energy (April 13, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Adventure Run set for April 16 (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Authorities search for cattle rustler (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Behind the lens: Riveting reptile (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Donate blood April 8 (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. DWI crackdown targets Poteet area for weekend (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: Political parties display hypocrisy over Supreme Court nominee (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Editorial: We are window-shopping for the next president (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Falls City Council seeks partner for sewer upgrades (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FELPS addresses cost price hike as fuel costs decline (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FELPS payment scam victimizes restaurant owner (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. FISD plans Wellness Fair and 5K (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Floresville plans community Independence Day celebration (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Injury accident (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Just be honest (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Learning opportunity for teachers June 6-9 (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: La Vernia ideal home for YMCA (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: Leave political correctness out of Jaguar name (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Letter: We are the stooges (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Little League Night in Floresville (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. LV Greater Chamber plans April 6 meeting (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. One-Act Play shines at District (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Online control system detects faulty switch, saves FELPS $750K (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Opry Jam Night April 7 (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Participate in Candidates’ Forum (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Police Blotter (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. State test glitches heighten exam anxiety for students (April 6, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Sutherland Springs woman: Snakes alive! (April 6, 2016)