Category: Business and Economy
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Charlottesville Gas Study Not Pointing To Elimination. Yet.
By Steve Haner Charlottesville is one of three Virginia municipal governments that still owns and operates a natural gas distribution utility. With the current political hostility to all forms of hydrocarbon energy, the future of that utility is under debate and its customers will soon have a chance to speak up. The listening sessions follow other…
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VCEA Fans and Foes Both See Failure Looming
By Steve Haner There is a growing recognition that the Virginia Clean Economy Act (VCEA) as written is going to fail. Both those who strongly believe in its goal of ending the use of hydrocarbon fuels, and those who consider that idea nothing but fool’s gold, see major problems on the horizon. There is also…
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Venture Global: Virginia’s Unknown Energy Giant
by James A. Bacon An Arlington-based company that most Virginians have never heard of could well alter the global energy balance of power — if the Biden administration doesn’t get in the way. In 2023 and 2024 alone Venture Global LNG., Inc., has announced long-term deals to supply 3 million tons of LNG to the…
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Clean Economy Act: A Refresher on What it Does
By Steve Haner A senior Democratic state senator is leading an effort to review and possibly revise the 2020 Virginia Clean Economy Act (VCEA), which orders the future elimination of hydrocarbon fuels (oil, natural gas, and coal) used in making electricity. His goal is to conduct a stakeholder process and bring legislation to the 2025…
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Mountain Valley Pipeline To Start Moving Gas
The Federal Energy Regulatory Commission has approved the full operation of the Mountain Valley Pipeline. Gas from West Virginia will now flow. Environmentalist heads are exploding, but this is the best news for Western Virginia’s economy in a long while, and an encouraging sign of hope for energy sanity. A decade ago both this 303-mile,…
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Now Fix the Clean Economy Act, Governor
By Steve Haner Governor Glenn Youngkin recently flew to Louisiana to join with other Republican governors in criticizing President Joe Biden’s energy policy, especially the president’s hostility to hydrocarbon fuels. Youngkin and the rest gathered at an oil refinery to make their point that oil and gas should not go away in the decades to…
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UVA as Entrepreneurial Hub?
by James A. Bacon Does the University of Virginia have what it takes to become an engine of technological innovation and entrepreneurial wealth creation? Mike Lenox, professor of entrepreneurship at the Darden School of Business, thinks that it does. James Murray, a venture capitalist specializing in telecommunications and information technology, isn’t so sure. They engaged…
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Psst! The economy is doing really well.
We all see and hear those complaints about inflation and economic woes. Here is a contrary analysis, from The Wall Street Journal, no less: Growing investment income and household wealth have joined near-full employment and rising wages to keep millions of Americans… spending their way through price hikes. The economy’s charge through higher interest rates…
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Youngkin, Miyares State California EV Mandate Never Adopted for Virginia
By Steve Haner Virginia Governor Glenn Youngkin (R) and Attorney General Jason Miyares (R) announced today that Virginia will no longer comply with the California air regulations that will restrict and eventually eliminate the sale of gasoline and diesel vehicles. The announcement is sure to set off a political and legal firestorm as fierce as…
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Gas Tax Tops 40c Per Gallon, Up 150% in Four Years
By Steve Haner Virginia’s motor fuel taxes rise again July 1, finally breaching 40 cents per gallon for gasoline. Four years ago the tax was 16.2 cents per gallon, but former Governor Ralph Northam (D) signed 2020 legislation to both increase the tax and to begin automatic annual inflation adjustments. The tax becomes 40.4 cents…
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Injunction to Stop Wind Project Denied
A federal judge in Washington has declined to prevent Dominion Energy Virginia from constructing its offshore wind turbines, but presumably the underlying legal challenge to the federal permitting process will grind on through the court process. Virginia Mercury reports the basics this morning. Installation of the first monopiles actually started while the judge was still…
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Shown the Door, Petersen Calls Out COVID Fascists
By Steve Haner Reading Chap Petersen’s biographical “Rebel,” it is pretty easy to understand why a year ago his fellow Democrats threw him out of office in a primary. In fact, the mystery is that he survived as long as he did. The book tells a history that many would like to ignore or actively…
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Investor in Dominion Wind Buys $150M Island
By Steve Haner One of the leaders of investment firm Stonepeak, which is buying a 50% share in Dominion Energy’s Virginia Virginia Beach wind project, just bought a private island. The story is reported by the New York Post, which mentions his role in the major investment firm but doesn’t make the connection to the…
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Challenging the Fact-Free Narrative on RGGI
By Steve Haner The numerous falsehoods in a recent Richmond Times-Dispatch story about the carbon tax so loved by Virginia Democrats start right with the headline. It states that Virginia’s decision to withdraw from the Regional Greenhouse Gas Initiative “is costing millions.” The figure of $150 million per year is then mentioned, apparently simply quoting…
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Virginia Beach Budget Will Lower Your Standard of Living
When Councilman John Moss narrowly lost his seat on City Council in a 2022 three-way race, Virginia Beach lost the lone elected official who actually understood municipal budgeting. Moss could be counted on to make city budgeteers squirm as he peppered them with intelligent questions about why they continually funded vacant city jobs and then…