1. Chart of the Day I (above). Traffic volume data recently released by the Federal Highway Administration through August indicate that Americans have been driving at record levels lately. For the month of August, total travel on all US roads and streets was estimated to be 277.3 billion miles, which was 2.3% above August 2014, and established a new all-time record high for travel volume during the month of August. The moving 12-month total for traffic volume on all roads and streets was 3.11 trillion miles through August 2015, which also established a new record high (see chart above). Compared to August of last year, the moving 12-month total increased 3.3%, which is the largest annual increase in that measure of traffic volume since 2000. The all-time record highs for traffic volume though August likely reflect both low gas prices and a gradually improving economy.
2. Quotation of the Day I from the article “Tipping is awesome. Trust me, I’m French“:
It really is glorious, your service culture. You have no idea how good it is. It’s like the stories of people from Communist countries who went into a supermarket for the first time and just broke down and cried. To us, it’s just a store, but it’s actually magical. Same thing with American service culture.
Which is why when I see Americans — predominantly, let’s face it, elite, liberal Americans — who want to destroy one of the nicest things about their country, and one of the nicest things in my life, I get positively angry. I am talking, of course, about the movement against tipping, seen here recently in The Economist (The Economist! Not Pravda! The Economist!), and also in Vox (of course).
There’s a grandeur to tipping. There is a beauty to this simple transaction, to rewarding a job well done with a just recompense. There is a beauty to someone who tries to do their job well, and with a smile. It should be rewarded — and without tipping, it won’t be.
Many things in life are drawn in shades of gray. This is not one of them. Tipping culture is one of the great things in the world, and people who disagree should be tarred and feathered. Or, worse, made to wait 30 minutes for their order in a Paris tourist trap.
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3. Chart of the Day II (above). Despite low oil, gasoline, and natural gas prices, America’s Shale Revolution is still alive and well and continues to produce shale resources at record levels. Based on EIA data through August, America produced a new record-setting volume of natural gas (marketed production) during the month of August at 2.52 trillion cubic feet (see chart above). It’s possible that the low energy prices have driven a new round of cost-cutting, technological improvements, and drilling and production efficiencies that have allowed many oil and gas companies to remain profitable despite low prices.
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4. Chart of the Day III (above). In another sign that the Shale Revolution is far from over, the EIA’s Drilling Productivity Report released this week provides new information about a pending and very significant US energy milestone that is about to be established. According to EIA estimates, the Permian Basin oil field in West Texas is on track to surpass the 2 million barrels per day milestone this month (November), which will mark the first US oil field ever to produce at that level of output (see chart above). Daily production in the Permian Basin first surpassed the 1 million barrel milestone in May 2011, and will now reach the 2 million barrel milestone this month. That represents a doubling of Permian Basin’s crude oil output in just 4.5 years, and elevates the West Texas oil field to one of the most prolific oil fields worldwide, one of only a few that have reached the 2 million barrels per day level of output.
5. The Bakken Boom is Not Over Either, based on a few recent new reports: a) Williston jobs still plentiful, becoming more specialized and b) Job activity, construction pace in Williston still brisk.
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6. California is NOT Booming. Business relocation specialist Joe Vranich reports that a minimum of 9,000 businesses left California between 2008-2014, thanks to the state’s hostile business environment.
7. Venn Diagram of the Day (above), inspired by this Washington Post article about how the District of Columbia is implementing surge pricing (as high as $8 an hour) for parking as a way to reduce traffic congestion.
8. The Power of One: One disruptive student can keep an entire class from learning. Just one. The whole year. That’s what we learn from Joe Soucheray’s column “Powerless teachers make it easier for unruly students to rule.”
9. Quotation of the Day II, from Walter E. Williams:
Completely ignored in most discussions of slavery is the fact that slavery was mankind’s standard fare throughout history. Centuries before blacks were enslaved Europeans were enslaved. The word slavery comes from Slavs, referring to the Slavic people, who were early slaves. What distinguishes the West, namely Britain and the U.S., from other nations are the extraordinary measures they took to abolish slavery.
10. UberPool is a Success in NYC, according to one news report (“Even cynical New Yorkers don’t mind sharing Uber rides with strangers“), and is now heading to Chicago.
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