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That is a nasty linkbait-y retitling. As far as the Helium Privatisation Act goes, the government was being accused of "waste" in 1996 when it was sitting on a
by Robin_Message 16y ago
That is a nasty linkbait-y retitling. As far as the Helium Privatisation Act goes, the government was being accused of "waste" in 1996 when it was sitting on a vast stockpile of helium (from prior military uses.) It decided to sell it off over a controlled period so as to not depress the price excessively and put private suppliers out of business. They gave themselves the deadline of 2015 to have it all sold, presumabley so as to reduce the government debt in a reasonable time frame. [1]
Now it seems that helium is much more valuable but the price is depressed because this stockpile has to be sold by 2015. So something that made sense at the time now doesn't, and a new act is needed to say they can take longer to sell the helium. Government fail? Only if they don't change the policy.
Oh, and the HPA almost unanimously approved by Congress (411-10, with 12 not voting.) [2]
EDIT TO ADD: I am grumpy about this because titles like that generally go with the articles along the lines of "nasty government interfering with the market." But in this case, the report wants the government to be the government, to act strategically, not to sell at the market price but above it, and generally to interfere. The 1996 Act stopped the government doing its job in order to cut perceived waste and debt. The act should never have passed congress in the first place, or at least not in such a fixed way, but it did because it fitted people's stupid, prejudiced narrative that the government is too "big".
[1] http://www.helium.com/items/874929-understanding-the-helium-privitization-act-of-1996 http://www.helium.com/items/874929-understanding-the-helium-...
[2] http://projects.washingtonpost.com/congress/104/house/2/votes/137/ http://projects.washingtonpost.com/congress/104/house/2/vote...
- pbhjpbhj 16y ago>So something that made sense at the time now doesn't, and a new act is needed to say they can take longer to sell the helium. This sort of thing shouldn't require an act of congress/parliament. A general rule of not selling >$Y of goods that are above X% of the yearly market without treasury approval would seem more sensible.
- stretchwithme 16y agoThe post office can't even stop delivering mail on Saturday without an act of Congress. The wheels of bureaucracy continue to turn despite whatever signals the market sends.
- hga 16y agoOne of the reasons the government fails is because it never wants to change a policy once set, and doing that when failure become obvious to all often takes decades. This is one reason, don't know the applicability here: http://en.wikipedia.org/wiki/Public_choice_theory http://en.wikipedia.org/wiki/Public_choice_theory BTW, that lopsided a vote is all to often correlated with bad legislation.
- stretchwithme 16y agoI remember California's alleged market reforms where it was illegal to make long term contracts. When it blew up in our faces back around the turn of the century, I remember former governor Pete Wilson saying he knew there were problems but he figured they'd be fixed after they passed. It didn't happen until after the disastrous contrived shortage thanks to the power it gave companies like Enron. Ram it through, get it on the resume and leave the mess to those that follow.