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Episode 30 – Federal Government Denies Dakota Pipeline Easement
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In this episode, I discuss the Obama administration’s decision to deny an easement for the Dakota Access Pipeline (DAPL) to cross underneath Lake Oahe, a reservoir created by a dam of the Missouri River. I believe that Obama is simply trying to pass off the tough decision to Donald Trump in January, but the implication of this changing of the rules is still concerning. Regime uncertainty, defined as distress “that investors’ private property rights in their capital and the income it yields will be attenuated further by government action.” Please refer to Bob Higgs’s “Regime Uncertainty: Why the Great Depression Lasted So Long and Why Prosperity Resumed After the War” below for more information about regime uncertainty. Changing the rules of the game will make investors less willing to invest their money in the United States; less investment hurts all of us regardless of our place on the income and wealth distributions.
Suggesting Reading/Referenced Articles:
Podcast: “Episode 23 – DAPL Protest Misinformation” – Mark Geise Show
“Army denies Dakota pipeline permit, in victory for Native American tribes” – CNBC
Journal Article: “Regime Uncertainty: Why the Great Depression Lasted So Long and Why Prosperity Resumed After the War” by Robert Higgs – The Independent Review, Spring 1997
Book: “Conquests and Cultures: An International History” by Thomas Sowell
Video: “North Dakota Media Has Shamefully Misinformed on Standing Rock” – TYT Politics
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