World, he is a leader in our profession in numerous honors and awards, the editor of not just one, but of two top journalists in economics. On top of that, ive been the great beneficiary, coauthor with alan on many occasions. Today, hes going to talk about the destinationbased cash flow tax, a proposal for which hes done much of the heavy lifting and main proponent and we can all benefit from his explanation of how it works, why it is a good idea, and what some of the issues are and how they can be addressed. So alan, ill turn it over to you. Thank you. [ applause ] thank you, bill. So will my slides come up . There we go. Thank you. Well, i told bill i shouldnt need more than two or three minutes to explain the destinationbased cash flow tax. Everybody in washington and elsewhere in the country already understands it so well. I would like to start with a stroll down memory lane or for many of you just sort of something that happened before you were born. Just a notion of where this is
Concerned with it. Heroin is cut with that in order to increase the addictive nature . Increases potency. People go back to it. That is kind of the tragic part of it. Word gets out it is strong, and traffic rules to have traffickers will do that. It will spike something hot so you the wild Overdose Deaths and verbal travel. There will be a desire for that product. It is mixed with heroin, other substances and really can be mixed with anything just to kind of expanded in its commercial viability. Adding that to some other products, as dangerous as in our products might be, adding that to it is almost tantamount to knowing youll be committing a certain amount of murders as it is distributed amongst the populace. That is unavoidable. A significant quantity in the hands of the population can result in a certain number of deaths. Yes. We have had success with this Death Investigation overdoses. How difficult is it to prosecute . You are speaking earlier. The Biggest Challenges reactive. Our
And yet the resiliency is relatively strong. We have got stabilization today after those big swings we have seen over the past couple of sessions of at least 1 in the s p. Now we are not seeing moves that are quite as large although the nasdaq is rising to the highs of the day, up three quarters of 1 . We are seeing some of that volatility come out of the. Arket in terms of drags, volatility is here to stay when it comes to oil prices. We have Weekly Oil Inventories creating a spike in oil and then a drop. It is down 1. 8 and that is because on the one hand there was an unanticipated drawdown in Oil Inventories on the weekly basis. That was a surprise. There was a huge drawdown last week because of hermine and there was expected to be a bounce back. There was a huge increase in distillate inventory. T was what is pushing putting pressure on oil and oil is down as a result. Thehe flipside, one of biggest supports for the market today is apple which is contributing more than two and a ha
Is a big draw and one of the Worlds Largest air shows will be in dubai. Russias Sports Ministry has said it is not surprised by latest allegations that drug cheating is widespread in athletics but in a mixed message they completely rejected the worlds antidoping agencys conclusions and described the accusations that doping in russia were state sponsored as baseless and fictional and also insisted russias doping agencies are totally independent and says they collect 15,000 samples annually with disqualification of roughly 2 of the athletes tested and he is accused of double standards saying investigations are not commissioned in other countries and lets speak to rory challenge live in moscow and rory tell us more about what the russian Sports Ministry is saying because there is some confusion if its agreeing there is a problem here. Well, it does take a little bit of analysis to unpick the different comments that have come out of the Sports Ministry in the last few hours since the wider
To reach those kinds of levels changing the way that people are thinking about the electricity or the Energy Market systems that they are being incorporated into . Thats a good question. Look, its a cliche but this is truly disruptive technology. We have we built an electric system that is hub and spoke, thats been around for a while now and is centrally controlled. With exceptions, relatively manageable. The sheer nature of distributed power, whether thats pv or maybe its microwind or other things, is that creates challenges. Thats a change. Then throw in the fact that there is the unpredictability about when you get the juice. That creates further uncertainty. Look, the answer is that i think your program is great and people are trying to think about where the utility fits in everything. Theres a lot of smart thinking and reconsideration going on. Theres some people who are saying, i know where the utility fits. Its where it has always fit. This is a fad and its going to come and go.