Slow News Day

The Washington Post: How tall is Jeb Bush?

OPIC “Paying Off Friends In The Climate Change Business?”

It’s possible. See here for more. Even some Republican presidential candidates, as establishmentarian as they are, are getting on board. Hopefully the Democratic field gets on board.

GOP Field Mobilizes against Cronyism?

Don’t hold your breath, but here is a small bit of optimism.

GOP Split over Cronyism?

The Daily Caller’s Guy Bentley has a good piece on Ex-Im, OPIC, and the GOP’s conflicted relationship with big business. He also quotes Mercatus’ Veronique de Rugy and yours truly.

Maybe He Should Stand Up Straighter

The Hill: White House calls Putin ‘desperate,’ criticizes his posture

CEI’s Battered Business Bureau: The Week in Regulation

A slow week closed with a bang, with Friday’s Federal Register containing 15 proposed regulations, 25 final regulations, and 502 pages. Throughout the week, new regulations cover everything from bird-hunting to sorghum.

On to the data:

  • Last week, 84 new final regulations were published in the Federal Register, after 77 the previous week.
  • That’s the equivalent of a new regulation precisely every two hours.
  • So far in 2015, 2,467 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,316 new regulations this year, far fewer than the usual total of 3,500-plus.
  • Last week, 1,301 new pages were added to the Federal Register, after 1,876 pages the previous week.
  • Currently at 58,108 pages, the 2015 Federal Register is on pace for 78,210 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. 21 such rules have been published so far this year, none in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.69 billion to $1.81 billion for the current year.
  • 209 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 400 new rules affect small businesses; 56 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and@RegoftheDay on Twitter.

A Hammer Blow to Cronyism?

Nice writeup of my recent OPIC paper by the Daily Caller’s Guy Bentley.

Read the whole paper here.

New CEI Paper: The Case for Closing OPIC

OPIC is the Overseas Private Investment Corporation. It is a federal agency that offers financing for international projects by U.S. companies. Intended mainly as an economic development tool for developing countries, OPIC is also a way to give assistance to U.S. companies, and serves as a foreign policy tool for the federal government. In recent years, OPIC has also been captured by renewable energy interests, who now receive roughly 40 percent of its business.

OPIC’s charter expires on September 30, unless Congress renews it—in this way, its business model is similar to the now-expired Export Import Bank, which also has charters of finite length. In a new CEI paper, released today, I outline the case for closing OPIC in more detail:

Only about 5 percent of OPIC’s business goes to countries deemed as among the least developed by the United Nations. OPIC overwhelmingly works with big businesses, with a literal top 10 list of its beneficiaries capturing nearly 90 percent of its business in some years. The jobs OPIC supports come at a cost of nearly $329,000 each. The agency’s political risk insurance    program encourages bad behavior by predatory governments around the globe. More than 40 percent of OPIC’s business goes to a single industry—renewable energy—known more for its   political acumen than creating consumer value.

Read the whole paper here. If you prefer a one-page version, see the press release.

CEI’s Battered Business Bureau: The Week in Regulation

Agencies last week proposed 51 new regulations, and finalized 77 other rules covering everything from aluminum to Peruvian citrus.

On to the data:

  • Last week, 77 new final regulations were published in the Federal Register, after 48 the previous week.
  • That’s the equivalent of a new regulation every two hours and 11 minutes.
  • So far in 2015, 2,383 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,291 new regulations this year, which would be more than 200 fewer rules than the usual total of 3,500-plus.
  • Last week, 1,876 new pages were added to the Federal Register, after 1,322 pages the previous week.
  • Currently at 56,887 pages, the 2015 Federal Register is on pace for 78,574 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. 21 such rules have been published so far this year, two in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.69 billion to $1.81 billion for the current year.
  • 204 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 392 new rules affect small businesses; 56 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and @RegoftheDay on Twitter.

Deceptive Headlines

Politico: Boxer hits former Senate opponent Fiorina