Ending illegal immigration benefits economy

According to the a study conducted by the SAT, the U.S. work force of 2030 would be less literate, less skilled and worse paid than the U.S. work force of 1990. This isn't because of an overall decline in US workforce, but more because of the growing illegal population. The author states that the incoming generations of Mexicans are just as likely to complete high school like their ancestors (the rate of completion isn't good), while the completion rate for high school of other immigrants has increased. Combine this with a growing Mexican population and it equals a less skilled and less literate workforce in 2030. The author believes stopping illegal immigration with laws like the recently passed Arizona law will reduce illegals by a significant amount.

Back to the Future: $100 Oil May Return Soon

I hope your not getting too comfortable with today's gas prices. This summer the cost of a barrel of oil might go well over a $100, currently the cost is $86.15. The reason behind this rise is economic recovery is developing nations such as India and China. An interesting fact that I didn't know before reading this article, US consumption of oil has actually decreased 5% the past 10 years, while Chinese consumption has increased 73%.

Five tips for keeping gasoline costs under control

With the tough economic times still amidst us, filling one’s gas tank can be a burden on one financially. This article from the Washington Post list five tips on ways to help keep gasoline cost under control.
1. Comparison-shops. Gasbuddy.com lets one search for the lowest gas prices in one’s area.
2. Fill up with regular.
3. Tune up your car.
4. Dump the junk in your trunk. An extra 100 pounds can lower your gas mileage by 2 percent.
5. Drive efficiently by avoiding quick starts and stops.

Tax on Oil May Help Pay for Cleanup

This article is addressing the recent oil spill and the tax on oil which will provide a huge federal “rainy day” fund to pay for the damage on the gulf coast. Up to $1 billion of the $1.6 billion reserve could be used to pay for losses from the accident, as much as half of it for what is sometimes a major category of costs: damage to natural resources including fisheries and other wildlife habitats. People forget that a huge cost is on wildlife which is susceptible to irreversible damage by the slightest changes in living conditions.

Under the law that established the reserve, called the Oil Spill Liability Trust Fund, the operators of the offshore rig face no more than $75 million in liability for the damages that might be claimed by individuals, companies or the government. They are responsible for containing the spill. The tax adds roughly one tenth of a percent to the price of oil. Another source of revenue is fines and civil penalties from companies that spill oil.

In the past this fund has been used to pay for small spills and damages and has been used mostly for small companies. According to this article, it now seems that the huge cost of these damages will use up a lot of this fund, which could pose a problem if it is depleted for future use.

Economy grows for third straight quarter

This is a good article talking about the continued GDP growth in Q1 2010. While it was lower than the previous quarters 5.6% and lower than expectations, it showed promise in the rise of consumer spending from growth of 1.6% in the previous quarter to 3.6% in this quarter, which is obviously a pretty good sign. It also pointed out the rise in federal spending, but the greater decrease in state and local government spending.

The corruption eruption: Saying “no” to corruption makes commercial as well as ethical sense

My last post, check out this interesting article and the super catchy picture.
Deny it or not, it still exists globally.
-Bribery is the price that you must pay to enter some of the world’s most difficult markets.