Latest news with #policy
Wall Street Journal
an hour ago
- General
- Wall Street Journal
Notable & Quotable: Grace-Marie Turner
From a Feb. 27, 2019 Journal op-ed by Galen Institute president Grace-Marie Turner, who died May 29:
WIRED
a day ago
- Business
- WIRED
Analysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
I also think the tariff on it is just as important as the uncertainty about not knowing where the end game is and what the tariffs are going to be. So, if you're on the manufacturing side of the renewables business, you're making investment decisions that have very long lives when you're building a manufacturing facility. Having that uncertainty around the investment climate and what the level of tariffs is going to be over the long-term just makes it more challenging to make all of those decisions. During the early part of this year, as this tariff war was starting, I had, like, biweekly calls from this manufacturer in Korea, just exasperated, saying, 'Doesn't the US government know that we're making long lead time decisions, and we need to have some sort of clarity around what the policy environment is going to be, not just for the next four years, but for the next 10 years?' The US is making it very challenging right now to make these types of investment decisions. Is there any US energy industry that benefits from trade tensions? I don't think anybody benefits, per se, from the trade tensions. Everybody, no matter what part of the energy sector you're in, is having to navigate the uncertainty around what the tariff levels are going to be. That said, the overall policy environment has changed to one that is more favorable for natural gas. The fact that we are an exporter of natural gas and have all of the domestic resources that we need makes it less impacted by tariffs than what other sectors are, like renewables. But even for E&P [exploration and production of oil and gas], they utilize steel in that process. There are tariffs on steel. Steel prices have gone up. It has a negative impact on all energy sectors. One part of this report that jumped out to me is you said that the US may be stuck with older technologies, especially when it comes to solar, while the rest of the world advances at a quicker pace. What's the long-term effect of that? Before I answer that question directly, let me just give you some context. We estimate that the cost of building a utility-scale solar project is about $1.15 a watt in the US. The comparable number in China is about 42 cents a watt. It's not surprising that the cost of building a solar facility in China is a lot less than the cost of building a solar facility in the US. What is very surprising when we put this data together is how much less expensive it is to build a solar project in Europe than it is in the US. It's about 70 cents a watt to build a solar facility in Europe compared to the US. So the US is almost 50 percent more expensive to build a solar facility than the cost of building it in Europe. And the biggest reason that it's more expensive here is because of all the tariffs that we have on solar. It's not the only reason, but it's the biggest reason. So we've already kind of penalized solar with the tariffs that we have in place.
Yahoo
a day ago
- Business
- Yahoo
Boswell, Johnson discuss interim legislative session
Kentucky lawmakers will return to Frankfort next week for the beginning of the 2025 interim legislative session. During the session, committees will meet to study policy issues, review implementation of recently passed legislation and begin evaluating proposals for the 2026 regular session. State Sen. Gary Boswell and State Rep. DJ Johnson both anticipate early budget talks being a big focus. 'With respect to the budget, I will say that I'm concerned that the funds we had available, a lot of it through federal grants and the Inflation Reduction Act — which had nothing to do with inflation reduction — but the effect of that was there were some federal funds available for one-time-only projects,' Johnson said, 'and what we did in the last budget was we absolutely focused on one-time-only funding that we thought would be of benefit, and I don't see those funds necessarily being available in this next budget. 'I think it's going to be a little bit more of an austere budget than this last one was. The conversations are going to be a lot tougher than they were before.' But Johnson doesn't believe that's going to necessitate a lot of cuts in the budget, thanks to an increase in revenue. 'There is a revenue increase we're seeing through economic development; that is a fact,' he said. 'So I don't necessarily see a bunch of cuts. There are some things that we think philosophically we should take a look at, but I don't think it's going to be because of revenue. I think it's going to be because we want to be as efficient as we possibly can while still taking care of the important things.' Boswell also noted the increase in revenue, but he believes the state can be much wiser in how it spends money. 'I think we're doing a great job of bringing in revenue; I think we're growing our revenue base, but we're also spending a lot of money,' Boswell said. 'I'm on Appropriations and Revenue, and we have a lot of good causes that need to be funded, but at the same time, I've pointed out some areas that I think we could save money.' Boswell believes it's a must that the state take action to relieve itself of property it owns that is not being utilized, including property on Highway 54, as well as ending leases for office space no longer needed. 'I have brought that up on several occasions, that we've got to sell all of this old property,' Boswell said. 'We'll do a couple of things. One, we'll get the revenue, and we should put that back in the general fund. Secondly, we'll create more tax revenue because we're not getting any revenue, and it's a terrible eyesore. 'I've talked to the chairman of Appropriations and Revenue, and if they don't do something quicker, I'm going to have to figure out a way to get a bill passed, that we need to consider getting rid of all property that we don't really need. It's somewhat like a hoarder, and in this case, it's the taxpayer's money.' Boswell also noted smaller expenditures he's seen since taking office that he feels wasted money and add up, such as offices being unnecessarily repainted and legislators receiving a new embroidered leather carry bag every two years. He also plans to continue fighting for personal property rights. Johnson wants a significant focus to be put on families and better protecting children, and he expects it will be a high priority for the Republican caucus. 'We did a lot of that last time,' Johnson said. 'We did some things as far as penalties for child pornography and that sort of thing, and there were a couple of things that I personally wanted to get through that I'll probably look at — for example stiffer penalties for child pornography. I think we need to have it where they serve 80 to 85% of their sentence, as opposed to something lesser than that. I didn't get it through last time, it was just too tight of a schedule with the short session, so I'll be taking a look at that again. 'I'm also looking at some things for child care that I was trying to do last time. It was just hard to have a conversation about something as important as child care in that short session. Those are priorities for me.' While Frankfort has appeared deeply divided by party in recent years, Johnson said what is often overlooked is how much legislation is passed with bipartisan support. 'For the really emotional issues, there's probably not going to be a lot of negotiation,' he said. 'But I will say this, if you go do a statistical check, probably 89% to 91%, somewhere in that percentage of the bills have some kind of bipartisan support, and we overlook that. The hot topics are going to make the news, the highlights, because it gets pretty boring if we look at the 100 votes we had where it was 90-4 or 94-4. Those are boring. 'But they're what makes government work, and those votes are what improves Kentucky, and there are a lot of them. We just don't talk about them.' • Boswell has been named a 2025 Kentucky Family Champion by The Family Foundation of Kentucky for 'his strong and principled support for pro-family policies' during the 2025 regular session of the Kentucky General Assembly. Boswell was graded on his voting record, sponsorship of key legislation and leadership on issues such as protecting life, religious freedom, parental rights and human dignity. 'It means a lot; I went up there to represent conservative values, so I have,' said Boswell, who views the recognition as confirmation he's representing the views of his constituents. 'I do pay a lot of attention to it, because I think most of the people who voted for me, supported me, expect me to score a high score.'
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Trump Championed Rulings That Are Now Being Used to Check His Power
WASHINGTON—During the Biden administration, conservative challengers won Supreme Court victories that limited the president's power to craft policy in matters from student-debt relief to air pollution. Now, those precedents are returning to haunt one of their greatest champions: President Trump. On Wednesday, a specialized federal court in New York invalidated the worldwide tariffs Trump imposed to address a range of issues on his agenda, from international trade imbalances to cross-border trafficking of fentanyl.
Forbes
2 days ago
- Business
- Forbes
Leadership Lessons From Trump's Latest TACO Moment
View of a taco with lettuce and tomatos on a black background, January 1989. (Photo by Tom ...) Trump's new TACO nickname is an acronym for 'Trump Always Chickens Out." It is back in the news today following Donald Trump decision to change course on his opposition to Nippon Steel's acquisition to US Steel. Trump's previous policy changes on tariffs, the Russian War on Ukraine, and deficit reduction, have led commentators to call him the TACO President. Today, I met with a corporate chief executive wrestling with how to mobilize his company into a new era of growth. His story connects with Trump's because they are both seeking to manage change. They both have a bold vision and face a choice: should I make definitive declarations or move in small increments, gauging progress based on what you learn and what works? The big bold actions and the small, learning steps, are different leadership strategies. Trump's TACO moniker. Trump's second presidency has been defined by a series of bold policy steps. Support or oppose his politics, it is impossible to deny that Trump represents a radical shift in the ideology governing the United States. He has launched some of them with great theatre, such as the 'Independence Day' announcement of his massive tariffs on almost every country in the world. These tactics are calculated to draw maximum attention for his actions in the hope of garnering support from the country. The challenge for Trump is that these actions are very specific – tariffs of a certain percentage, commitments to end a war within a specific timeframe, opposition to a named takeover deal by a foreign company. These are all positions or policies where we can measure whether or not he acted as he claimed that he would. He either holds the line on these specific choices or he reverses course. The apparent reversal in his positions is what has led to the 'TACO President' label. The 'Trump Always Chickens Out' syndrome is precisely what I want my CEO to avoid as he launches his effort to transform his company. He too has a major change challenge to manage, taking a successful profitable firm to a new level in the face of serious threats from technological disruption. My CEO is operating on a dramatically smaller scale. Nevertheless, he is still seeking to set a scale of ambition that is equal to the challenge and shake people out of their comfort zone. He wants to help the firm shift gear and find a path to growth that realizes its full potential. Today the team he leads is focused on operational and regulatory pressures which, though important, will not secure the firm's long-term path to growth. This is a radical break for a firm that has been run for operational performance for twenty years. It has neglected its back-office infrastructure and not invested in its people in a way that would enable it to achieve higher levels of performance. It has big opportunities and, with the new CEO a positive thesis for growth. My CEO could make a bold leap by announcing that he is breaking with the past and developing a new business model. There are plenty of players in adjacencies with direct-to-consumer digital or AI enabled businesses. The CEO's company is bricks and mortar with mostly analog systems. The CEO could go big with a vision to turn the company upside down and make it digital only. This 'burn the boats to the past' could play well with growth investors eager for evidence of radical action to bend the growth curve. This would signal a new paradigm for the business with the hope of scaring the legacy managers into action. However, success would depend on the actions the CEO announces being right. What if consumers don't want to buy direct? What if existing customers flock to competitors fearful that they are about to be left behind? What if the talent his current business depends on run for greener pastures in fear for their jobs? It's a simple answer: he would need to reverse course quickly to preserve revenue and sustain the business. He would be a TACO leader too. The challenge of the bold, decisive approach to leadership is that you better get it right. Otherwise, you may find yourself backtracking to correct errors. I am all in favor of ambition. When faced with an opportunity to lead disruption, the best option is to set a new scale of ambition. This resets a team's expectations for what they need to deliver and frees them to think on a new scale. However, if your ambition includes lots of specific actions that you are going to take, you run the risk of getting it wrong. The challenges that Trump faces are super complex. The USA has a massive (this is an understatement) budget deficit that is funded by global investors, including many from Japan and China. Any action on tariffs affects their willingness to buy this debt and so fund the future of the American government. This is a complex interplay between multiple factors. Trump's actions may have a positive impact on the problem. However, the scale of these choices is unprecedented and the outcomes unknown. He has already learned that the bond-market creates a constraint on his actions, which is what caused him to 'chicken out' from imposing his massive tariffs. The alternative to bold action with specifics, which you later need to reverse, is to commit to a strategy of learning. You still need a bold ambition, a sense of the long-term outcome that you are seeking to create. But, instead of a preset playbook, you have a set of mini actions, each of which are designed to teach you what works, so that you can adapt and respond. This learning approach is far more successful for operating in complex environments. The OODA Loop is a good example of a decision-model for complex scenarios. OODA describes a four-stage process of observing, orienting, deciding, and acting. Developed by US Air Force Colonel John Boyd, it is still taught in the military as a way of managing situations with a high-level of uncertainty. My advice to the CEO was to define a long-term ambition together with a broad roadmap for how to get there. This will provide his team with some guard rails but leave them in charge of designing actions to get them to the future, taking small steps to learn, then scaling the ones that work. The paradox of TACO leadership is that in the long-run it exposes the leader to charges of weak leadership. The constant change of direction implies a lack of understanding and judgement, but more critically it also suggests that he lacks the courage of his own convictions. A more confident leadership stance is to paint the bold vision, but to move carefully, learning in increments, and moving in concert with those around you toward a change that is sustainable and effective. Otherwise, you end up making bold, but ultimately foolish moves that you need to reverse and being called TACO is your reward.
