Policy Resource

By Bob Beauprez, Editor in Chief
Have you heard anyone complain about paying over $4.00 a gallon for gas? Likely it’s everybody you know. The Democrats are quick to claim it is George Bush’s fault – conveniently forgetting Nancy Pelosi’s promise to “do something” about energy prices if given a Congressional Majority. Unfortunately something did happen since she was elected Speaker – gas prices doubled. All the Democrats have done about it is to propose more regulation and more taxation that would drive up the price of gas even more.

By Richard Westfall
A Denver district court recently struck down an unauthorized tax increase that cost Colorado taxpayers $117 million last year and would cost Colorado taxpayers $1.5 billion over the next five years. These figures alone demonstrate the significance of this ruling to Colorado citizens. This article summarizes the facts leading up to this legal dispute and the significance of this ruling to Colorado taxpayers.

By Kent Holsinger, Contributing Editor
In 2007, Governor Ritter pushed sweeping changes to the Colorado Oil and Gas Conservation Commission (Commission) through the legislature. HB 07 1298 and HB 07 1341 dramatically changed the make-up of the Commission (from industry experts to a majority of government appointees, environmental interests and others) and mandated new rules to impede oil and gas production in Colorado. Following a series of public meetings, the Commission issued draft rules (Rules) in March of 2008.

By William Moloney, Contributing Editor
The 18th century lexicographer Samuel Johnson famously remarked that the prospect of being hanged in the morning “concentrates the mind wonderfully”. Gasoline at $4.00 a gallon should be a similar spur to clear thinking about U.S. energy policy.

By Rich Sokol, Contributing Editor
In olden days, miners used to carry canaries with them into mining tunnels. If any noxious gas was present, the small canary would die, alerting the minor to the presence of the often odorless gas. This would provide precious time for the miner to escape. But if the miner were too distant from the exit, the miner would suffer the same fate as the canary. The canary provided a warning signal as to what was about to befall the miner. If a country ever was a canary in a mineshaft, it is Israel.

By Sanjai Bhagat, Contributing Editor
The current global credit crisis has its origins in the problems of the subprime mortgage market in the U.S. Until the turn of the millennium, most mortgage loans were made to borrowers with good credit histories conforming to underwriting standards set by government sponsored agencies; these loans are referred to as conforming loans. However, as noted in Table 1 and illustrated in Figure 1, subprime loans and Alt-A rapidly increased their market share. Subprime mortgages refer to borrowers that have poor credit histories. Alt-A loans are made to borrowers with good credit histories but with aggressive underwriting, such as, no documentation of income.