Miscellany: 2/08/13

Quote of the Day
The most potent weapon in the hands of the oppressor is
the mind of the oppressed.
Steven Biko

What Is Obama Waiting For--Godot?

Remember one of Obama's persistent talking points during the campaign was that America had halted the increasing reliance on foreign-produced oil and was importing less than 50% of our daily usage; of course, the vast amount of that production increase is on private or state land, not federal-owned land.

Here are some key takeaways from The Institute For Energy Research's Joseph Mason.:

The findings demonstrate that opening federal land that is currently closed-off because of statutory or administrative action would lead to broadbased economic stimulus, including increasing GDP, employment, and wages. Specifically:

GDP increase:

• $127 billion annually for the next seven years. 
• $450 billion annually in the next thirty years.
• $14.4 trillion cumulative increase in economic activity over the next thirty-seven years.

Jobs increase:

• 552,000 jobs annually over the next seven years.
• Almost 2 million jobs annually over the next thirty years.

Wage increase:

• $32 billion increase in annual wages over the next seven years.
• $115 billion annually between seven and thirty years.

Increase in tax revenue:

• $2.7 trillion increase in federal tax revenues over thirty-seven years.
• $1.1 trillion in state and local tax revenues over thirty-seven years

Other points:

• Opening Federal lands and waters to oil and gas leasing will generate Federal tax revenue far exceeding revenue sought through levying new  taxes on exising oil and gas production.  
• Even without opening up Federal lands, it is expected that “by around 2020, the United States is projected to become the largest global oil producer ….
• Additionally, the CBO estimates royalty revenues, based on estimates of potential and probable oil prices, to be between $25 billion and $50 billion (in 2010 dollars)during the 2023–2035 period, or roughly $2 billion to $4 billion a year.
• Within a span of 9 years, technology increased estimated natural gas supplies in the Marcellus 42-fold, and liquids 340-fold
• .For example, in a 2009 study, increased OCS development (not including ANWR and other onshore) could result in some $14.3 billion in royalty revenue per year
• Opening up oil and natural gas resources on Federal lands can generate $14.4 trillon in economic activity, up to 2.5 million jobs, and  $3.7 trillion of wages

 Kay Hymowitz: Feminism and The Plight of the Alpha Female

"Women remain scarce in the most elite positions. And it’s by choice."

Hymowitz takes a hard look at the data, and finds that most women are choosing family over career. 

Women obtain the majority of college and graduate-school degrees. In their twenties, if they don’t have children, they outearn their male peers. They’re the primary wage earners in a rapidly growing percentage of households. American women even won more Olympic medals than their male compatriots did this summer

Mark Perry of Carpe Diem (see blogroll) regularly posts on various gender statistics, such as this one on college graduation rates. One of the statistics Ms. Hymowitz cites is comparative number of hours worked.

I know the best-paying jobs I've had were working for consulting companies and a road warrior lifestyle; back in 1998 I was commuting from Chicago to Oakland; I seem to recall to keep expenses down we got to fly home every other weekend, and we were working 5-day (not compressed 4-day weeks) schedules. I typically got into O'Hare at 2 AM on Saturday, and had an outgoing return flight Sunday afternoon. I spent much of my weekend picking up my P. O. Box mail, running errands, etc. Since I was salaried, I didn't get paid extra for overtime: nights, weekends, and holidays worked. I sometimes had service requirements like qualifying technical applicants. The point is that there is often a lifestyle trade-off, and I didn't have a family depending on me. Sometimes to save a job or accept a promotion, you have to relocate. Yes, I did meet female consultants, but most of them weren't married with children

I have 3 sisters whom hold professional degrees (nursing, education, and accounting). The first 2 sisters decided not to work until their children were in school; I think the third took maternal leave. I'm sure that my sisters realize there is a market value for additional experience, keeping one's knowledge and skills current, and absences can shift work burdens and disrupt projects. Promotions often come with more work commitments, and past performance (e.g., initiative, long hours, stellar work on projects) is a  key factor. I have worked for women, worked with women in comparable positions,  female project managers, and female (company or client) executives, even female company owners. A female predecessor at one company left for a six-figure offer in downtown Chicago (I made nowhere near that money, and I was a much better DBA.) Not taking into account factors like the nature and extent of job experience makes for abuse of statistics.

This is not to say I necessarily advocate a workaholic lifestyle. I remember there was an org behavior professor at UH whom had a reputation of bringing no work home with him. I have known fathers (not mine) whom, even when  they were home, spent little time with their children. It reminds me of the classic Harry Chapin hit, "Cats in the Cradle".





Musical Interlude: My Favorite Groups

The Supreme, "Come See About Me"