G
@GVennett
Joined March 2022
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Rent Control New York 1942. During World War II, New York introduced rent controls to keep housing affordable. Many of those controls remained in place long after the war. What happened over the following decades: 🧵 1/4
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• Thousands of apartment buildings ended up abandoned and taken over by the city. • Meanwhile, many affluent tenants occupied prime apartments at below-market rents, while newcomers and poorer families struggled to find housing at all.
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Affordable housing isn’t a bad goal. Its that suppressing prices changed incentives, and the long run result was fewer available homes, lower quality housing, and a housing shortage. policies should be judged by their long term consequences, not their intentions.
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Most Venezuelan crude #oil is heavy to extra-heavy, which is far more expensive to produce than the light oil that dominates global supply.
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Rough production costs per barrel: • Light oil: ~$10–30 • Medium: ~$20–40 • Heavy: ~$30–60 • Extra-heavy / oil sands: $40–80+ Venezuela lives in the most expensive category.
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Most of the world produces light or medium oil. Venezuela produces heavy sour oil and needs complex refineries to sell it. Higher costs + fewer buyers = discounted barrels.
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Speech still relevant today.
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5 important lessons. 🧵
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4/5 The principle of 'guard thy treasures from loss' underscores the significance of prudent risk management. Employing strategies such as diversification, asset allocation, and due diligence safeguards wealth against market volatility and unforeseen adversities.
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5/5 Central to achieving financial prosperity is the adherence to increasing thy ability to earn! Continuously invest in self-improvement, education, and skill acquisition to enhance earning potential, thereby augmenting opportunities for wealth accumulation and success.
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Don’t be upset with the results you didn’t get from the work you didn’t do.
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It costs less than $0.50 to store a barrel of #oil, or its equivalent in natural gas, but it costs $200 to store the equivalent energy of a barrel of oil in batteries.
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The small two-percentage-point decline in the hydrocarbon share of world energy use entailed over $2 trillion in cumulative global spending on alternatives; solar and wind today supply less than 2% of the global energy.
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Hydrocarbons supply over 80 percent of world energy: If all that were in the form of oil, the barrels would line up from Washington, D.C., to Los Angeles, and that entire line would grow by the height of the Washington Monument every week.
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