A Cooler Climate, Microsoft Drops Yahoo and Farm Subsidies

1. ENVIRONMENT

A new study in the journal Nature predicts a cooler climate than previously thought.

“For the next 10 years, while alarmists ram through their misanthropic agenda, their time-buying story line will be ‘aren’t we lucky that Mother Nature has given us a temporary reprieve.’ This will no doubt be followed 10 years later by ‘Whew, aren’t we glad we spent trillions to prevent catastrophic global warming?’ Meanwhile, for trained observers, it will simply be a matter of realizing that the global warming apocalypse never materialized because it was simply never going to happen anyway.”

 

2. BUSINESS

Microsoft drops its bid to acquire Yahoo.

CEI Expert Available to Comment: Technology Policy Analyst Cord Blomquist on why antitrust worries about the deal were misplaced:

 

“With the domestic online ad market predicted to double in the next two years and global adoption rates of internet service continuing to rise, there is every reason to believe that this rapidly expanding marketplace has room for new entrants such as Facebook, Digg, Wikia Search, Mahalo, or a company that still resides in a dorm room or garage somewhere in the world.”

 

3. FOOD

Reporters identify more than $15 billion in wasteful, unnecessary and redundant spending on farm subsidies and related programs.

CEI Expert Available to Comment: Adjunct Analyst Fran Smith on the policies contained in the current farm bill pending in Congress:

 

“These outdated farm programs not only carry a high cost for taxpayers, but can hit consumers with higher food prices In addition, heavily subsidizing U.S. crops means that poor countries can’t compete in the world market.”

 

Blog feature: For more news and analysis, updated throughout the day, visit CEI’s blog, Open Market.

 

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