“In his budget request for 2010, President Obama will announce plans to devise a new strategy to find another solution to deal with the nation’s nuclear waste that does not include storing it in Nevada.”

This is a shame if so.  The Yucca Mountain project currently employs hundreds of people and stands to employ thousands more, not to mention the nearly $100 billion it would bring into the hurting state economy.

The operation of nuclear energy plants and the transportation, recycling, and storage of spent nuclear fuel can be done quite safely these days - in fact is done safely all over Europe - but apparently Harry Reid is not going to let the facts get in the way of politics-per-usual and a Wednesday press release.  (More on the latest with Yucca here.)

This is the second time in less than three weeks an Obama agenda item has dealt a heavy blow to Nevada’s economy.  What was the first, you ask?  This offhand comment recently made at a townhall meeting:

“You are not going to be able to give out these big bonuses until you’ve paid taxpayers back, you can’t get corporate jets, you can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayers dime.”

Rich Becker wrote an excellent piece on the fallout of that comment, which summed up is this:

Companies are now scrambling to avoid the “stigma” of holding company functions in Las Vegas and millions of dollars have been lost due to cancelled rooms and convention events.  (These organizations aren’t really cancelling the events; they’re just relocating them.  To sunny California, mostly.)  And the tremendous loss of room revenue, convention business, enertainment dollars, and gaming revenue is going to lead to even more layoffs than Nevada’s already seen.

So where are Harry Reid (and Dina Titus) with their outrage and big press releases when Nevada’s economy really needs them?  Busy rubbing elbows with a president who clearly doesn’t give a damn about the what’s best for the Silver State.

I guess Nevada is now “blue” in more ways than one.

But don’t just stand there and cry, good citizens.  You can do something:

http://dumpreid.com/

Although he became a legitimate actor,

It’s hard to ignore the hypocrisy factor

Of Leo’s campaign to reduce all consumption – 

From Hollywood types it’s the height of presumption! 

Just look at Babs Streisand, who lately observed

That water and energy must be conserved

To stave off the crisis of warming we’ve made;

For curbing our usage she’s on a crusade.

We guess from these strictures she’s gotten a pardon:

She spends twenty grand just to water her garden!

On the heels of the financial and credit market bailout and the approval of federally backed loans for U.S. auto makers, the already heavily subsidized ethanol industry – yes, I said ETHANOL – may soon be receiving a bailout as well.

U.S. Agriculture Secretary Ed Schafer said the feds are considering payouts of as much as $25M to help ethanol plants.  Seems they are struggling since the price of corn has spiked

I agree with NM Congressman J. Flake:  Not only should we not give them money, all tax breaks and credits for ethanol producers should be repealed.

Using crops for fuel on any sort of large scale is a bad, BAD idea.

H/T:  Iain Murray on The Corner

My friends at ATR reminded me that last night, September 30th, at midnight, the bans that have been in effect since 1982 on domestic shale oil and outer continential shelf drilling expired.

Don’t throw a parade just yet, though.

 ATR points out that in February of this year there were 487 leases issued in Alaska’s Chukchi Sea, which holds an estimated 15 billion barrels of oil, however – due to frivolous lawsuits – all 487 leases are delayed.

 Also, there are 748 leases between two major seas in Alaska, the Chukchi and Beaufort, and exploration in every single lease was legally challenged in May of this year. 

 You may want to give your senator or congressman a call on this.  And also feel free to give a shout out to congressional leaders Rep. Pelosi and Sen. Reid a call and tell them to pass expedited leasing, state profit sharing, and judicial review legislation.   Here’s their info:

 Sen Reid:

Reno, NV Office Contact: 

Phone: 775-686-5750

Washington DC Contact: 

Phone: 202-224-3542

 Rep. Pelosi:

San Francisco, CA Office Contact: 

Phone: (415) 556-4862

Washington, DC Office Contact : 

Phone: (202) 225-4965

Loux, age 59, apologized to the commission (and the public) for giving himself and other agency staffers unauthorized pay increases.

Gov. Gibbons has ordered that the salaries in question be corrected to the approved amounts and has asked that the Department of Personnel obtain repayment of the excess.

“This action will ensure that the general fund is reimbursed…and will also ensure that any retirement benefits to employees of the Agency for Nuclear Projects are based on the correct salary levels,” the LVRU reports Gibbons to have said.

Loux’s salary has been rolled back to the 2006 budgeted amount of $104,497 and his retirement will be based on a percentage of his three highest pay years, excluding the unauthorized ones.

Still a pretty good deal for a guy who, according to Stuart Waymire, holds a bachelor’s degree in education from the University of Nevada, Reno, did not have credentials for the job, and has done more than anyone to get in the way of a civil, intelligent discussion about Yucca Mountain.  (I’ve got excerpts from a book Waymire wrote here.)

Anyway, Loux is out. 

As the flight attendants cheerfully say at the end of long, tedious flights, “Buh-Bye now.”

We’ve just been alerted that despite House Democrats relenting on extending bans on offshore drilling and oil shale in the continuing resolution (CR) appropriations bill, Democrat Senate Leader Harry Reid has decided to sneak an extension of the oil shale ban through as Congress fights over the financial bailout. Oil shale in America’s West is estimated to hold be between 800 billion and 2 trillion barrels of oil — that is more than three times the proven oil reserves in Saudi Arabia alone.

Here is the text of Reid’s proposed new ban on oil shale, that he is trying to add as an amendment to the CR or move seperately as a “stimulus” package, or we should say an anti-stimulus package if this is included.

Sec 1602 continues ban on oil shale. The language follows:

SEC. 1602. Notwithstanding any other provision of law, including section 152 of division A of H.R. 2638 (110th Congress), the Consolidated Security, Disaster Assistance, and Continuing Appropriations Act, 2009, the terms and conditions contained in section 433 of division F of Public Law 110–161 shall remain in effect for the 19 fiscal year ending September 30, 2009.

It would be an insult to all Americans if Senate Democrats worked to bailout Wall Street while damaging our future prosperity by banning development of vast energy reserves in oil shale.

Treasury Secretary Henry Paulson has a “plan” which will “shift” $700 billion in obligations from private companies to the American taxpayer.  Apparently he sees this as the only Way and has 9,000 wizards on stand-by to make it so.  (The same Wall Street wizards that got us into this mess, no doubt?)

And evidently most members of Congress are spellbound and preparing to waft more money New York’s way.

One can only imagine what Banking Committee Chairman Chris Dodd (the largest beneficiary of political funds from Fannie & Freddie) will dream up as he joins hands and sings Tra La La La La with Reid and Pelosi.  I’m not sure how it ends, but I’m pretty sure the working title is Nightmare on Wall Street and that we are barely ten minutes in.

Setting the typically wrong-headed Paulson aside for a moment, how is it that Bush and Congress care so little about protecting the American taxpayer?

And why all the insistence on a quick solution?  This mess was not created in a week, yet Paulson and our illustrious Congressional geniuses think they can solve it by this Thursday?  Does it not occur to anyone that we need to take a deep breath, wade in, and calmly and pragmatically work our way through our many economic and financial problems in a careful and measured manner?

As Newt blogged today (thank God for Mr. Gingrich), between the crisis of liquidity on Wall Street, the crisis of bad energy policy that transfers $700 billion a year to foreign nations, the crisis of Sarbanes-Oxley that cripples entrepreneurs/start ups and drives banks and businesses from New York to London, and the crisis of a high corporate tax rate…we are in some very deep Doo Doo.

Newt proposes a ”non-bureaucratic solution that would stop the liquidity crisis almost overnight and do it using private capital rather than taxpayer money.”  He suggests four reforms that would do the trick without the bureaucracy and additional tax burden.  I suggest you read his blog post as it is well worth the time, but in summation they are:

#1  Stop the mark-to-market rule which is forcing companies into unnecessary bankruptcy. If short selling can be suspended on 799 stocks, the mark-to-market rule can be suspended for six months and then replaced with a more accurate three year rolling average mark-to-market. 

#2  Repeal Sarbanes-Oxley. It failed with Freddy, Fannie, Bear Stearns, Lehman Brothers, and AIG. It is crippling our entrepreneurial economy. One San Jose firm told Newt they would bring more than 20 companies public in the next year if the law was repealed. It’s Sarbanes-Oxley’s $3 million per startup annual accounting fee that is keeping these companies private.

#3  Go to a zero capital gains tax like China and Singapore.  Private capital will flood into Wall Street (at no cost to Joe Taxpayer) and lead to an increase in federal revenue through a larger, more prosperous economy.

#4  Pass an “all of the above” energy plan designed to bring home $500 billion of the $700 billion a year we are sending overseas. With that much energy income, our economy would boom.

E!! endorses these proposals (a fact I’m sure Newt is happy to hear) and strongly advises against implementation of the Paulson plan which by all reasoned accounts is going to be a total Mess.

In closing, I’ll be waiting to see what McCain says and does about all this.  If he doesn’t reject the Paulson/Bush/Congressional plan and closely align himself with much of what Newt said here, I may not be able to vote for him after all.

(Note:  To those who have heard me joke that I am going to “get drunk and vote for McCain,” consider this my semi-official back-peddle…pending the outcome of this mess and McCain’s stand on things.  Let’s see how Maverick-y the self-proclaimed maverick is when it really counts.) 

Over the weekend, someone faxed him some old copies of the Bullfrog County Times newsletter (circa the late 80s).  Apparently this publication tried to tell ”the other side” of the Yucca Mountain issue – which Nevadans weren’t getting from Bob Loux and the Nuclear Waste Project Office (NWPO).

One Bullfrog newsletter mentioned a letter-to-the-editor written by a man from Carson City who had suggested that “Nevada should be receiving financial compensation for the study of Yucca Mountain.”

According to the Bullfrog, Bob Loux of the NWPO “mobilized his office, cranked up the typewriters and copy machines, called in all of his envelope stuffers, and fired off [a]…news release to every newspaper in the state, large and small…”  In his missive, Loux insinuated that the original letter-to-the-editor was written by the Department of Energy or someone in the nuke industry, “implying that no right-thinking Nevadan could possibly conclude on his own that our state should be compensated for what’s happening at Yucca Mountain.”

The Bullfrog concluded: “The poor guy in Carson City must be wondering what he did to incur the wrath of an entire agency.  We’ll tell you what you did, sir.  You dared to think for yourself.  You dared to speak the unspeakable.  That’s the way it is in Nevada these days.  And it appears that no one in any higher position cares what Loux does with his power or budget.”

Twenty years later, it looks the ghosts of Bullfrog’s past can croak with joy as they finally get to see Lady Justice comin’ ’round the proverbial Mountain for Mr. Bob Loux.

Bob Loux, Grand Propaganda Poobah for Nevada’s Nuclear Waste Policy Office, didn’t just redistribute funds in the form of unauthorized 2008 raises.  Apparently he’s been over-paying himself and his staff for years.

According to figures released by the governor’s office yesterday, Loux over-paid himself and his staff (i.e. exceeded his budgeted salary amount) for fiscal year 2007 by 6.69 percent.  This year, he exceeded his budget by 12.06 percent. And for next year, he was planning to exceed by 18.99 percent.

As for his personal salary, Loux was budgeted to be paid $114,088 this year but jacked up his salary more than 27 percent to $145,718.  He was budgeted to be paid $114,088 again next year (due to the statewide salary freeze) but set himself up to rake in $151,542 instead. 

Here’s the kicker:  These raises look to be about more than just the immediate extra cash.  Turns out Loux is eligible to retire on October 8, 2008.  And his already generous retirement package will/would reported be based on his ending salaries for his final three years of service. So it sure appears as if Loux was jacking up his salary in an effort to rip off taxpayers for higher retirement benefit over the next twenty or thirty years.

Assemblyman Morse Arberry was right on Tuesday.  Bob Loux shouldn’t just be fired; he ought to be prosecuted and thrown in jail.  AND stripped of his inflated retirement benefit.

(Hat Tip to Chuck Muth’s News and Views.)