CEI - Today in the News: Capital Bikeshare, Western Jobs, and Fred Smith


Capital Bikeshare


Washington, D.C. launched its "Capital Bikeshare" program a couple of weeks ago. It's currently the largest public bike-sharing program in the nation.


Policy Analyst Marc Scribner explains why Capital Bikeshare is not a good investment for D.C. taxpayers.


"Every one of these systems operates at a loss. Just like transit fares, bike-share user fees do not generate enough revenue to maintain existing capital, let alone provide for expansion (or even cover the initial public investment). For example, Paris’ oft-lauded Vélib program experienced a stock loss rate of nearly 80 percent after launch. That is to say, of the initial 20,600 — with an average cost of $3,500 per bike when initial investment and maintenance are included — 16,000 were either stolen or damaged beyond repair. Tourists love ‘em, but they’re not the ones subsidizing most of the cost to the public."




Western Jobs


The Senate and House's Western Caucuses recently published a study entitled, "The War on Western Jobs."


Associate Fellow Ben Lieberman explains how Congress is impeding the growth of energy industries in the West.


"The Obama administration’s attack on Western energy jobs began within weeks of taking power when the Department of the Interior revoked 77 oil and gas leases in Utah and halted new oil shale projects in Colorado. By the end of 2009, the administration had issued fewer onshore energy leases than in any year under Bush or Clinton, and the pace thus far in 2010 is no better. Throughout the West, vast energy-containing federal lands are currently off-limits, and the administration and Congress have sought to restrict access to millions of additional acres."




Fred Smith


CEI President Fred Smith was featured in Politico's "Answer This" interview column yesterday.


Read the full interview here.