H/T The Big Picture via Sound Mind Investing Weblog

The most impressive demonstration was the F-22. It was amazing to see the things that aircraft can do. The F-22 show concluded with a tribute to veterans in a fly-by with a P-51 Mustang, the WWII fighter plane. It was a very emotional moment.

NASA now begrudgingly confirms that the hottest year on record in the continental 48 was not 1998, as previously believed, but 1934, and that six of the 10 hottest years since 1880 antedate 1954. Data from 3,000 scientific robots in the world’s oceans show there has been slight cooling in the past five years

Yet here’s what Barack Obama says:

All across the world, in every kind of environment and region known to man, increasingly dangerous weather patterns and devastating storms are abruptly putting an end to the long-running debate over whether or not climate change is real. Not only is it real, it’s here, and its effects are giving rise to a frighteningly new global phenomenon: the man-made natural disaster.

And Arnold Schwarzenegger:

We simply must do everything we can in our power to slow down global warming before it is too late. The science is clear. The global warming debate is over.

So, which is it? If the hottest year on record was 1934 and the oceans are cooling over the past five years how is it that political leaders cling to global warming? And if I don’t believe in a climate change crisis then I am a conspiracy theorist, industry parrot, puzzle-maker, scientist for hire and I just can’t let go of my flat-earth ways.

49th Star: Alaska Statehood, New Flag Official 5th January 1959

June 30th marks the date the Senate voted to admit Alaska into statehood 50 years ago. The celebration begins tonight with activities downtown and ALASKA’S OPERATION GRATITUDE, a tribute to Alaska’s military personnel. Wynonna Judd will perform at Elmendorf Air Force Base  in a concert that will be webcast worldwide by AT&T and locally on KTUU. Following the concert will be a bonfire on the flightline to commemorate the bonfire of 50 years ago.

Alaska officially became the 49th state on January 1, 1959. What’s cool is is so many of those who were there are still around. Folks who were part of territorial government, part of the constitutional convention, who had flags with 48 stars and pinned on a 49th.

Festivities continue tomorrow. We’ll be heading to Arctic Thunder at Elmendorf tomorrow to see the Thunderbirds.

So in the interest of improving economic understanding I recommend two resources. The first is the website Energy Tomorrow. On this site the oil industry presents its case and I guarantee it will be very different from what is heard on any mainstream headline news.

Second, check out a new book by Richard McKenzie, Why Popcorn Costs so Much at the Movies. I can still hear my Economics prof saying that "prices contain lots of information." It’s true and we can learn a lot about why things cost what they do in Dr. McKenzie’s book.

Check out the original report here.

However, the Anchorage Daily News focuses on one aspect from the report, Anchorage has the most expensive average airfare in the US and Hawaii has the cheapest. Are the airlines who serve Anchorage’s airport gouging Alaskans? Is the comparison of Anchorage to other airports across the nation based on ticket prices only a fair comparison? Let’s look.

I’m an urban Alaskan. In the 27 years I’ve lived here almost all of the flights I’ve taken out of Anchorage have been to destinations Outside. Very few flights have been in-state. A ticket purchased for a short flight to Kenai or Fairbanks is much cheaper than a ticket to Seattle or Chicago. It costs more to fly the 1300 miles to Seattle than it does 40 miles to Kenai (that’s a guess on air miles to Kenai). A study of average ticket prices without accounting for flight distance does not produce a valid comparison of what airports are more expensive. It does accurately show relative changes in prices.

Hawaii has the cheapest airports. That’s not hard to figure out why. The short island hops that leave every few minutes dominate the sampling of airfares in Hawaii. Alaska doesn’t have many short hops nor the population base to demand them and drive pricing down. When Alaskans fly they usually leave the state which requires a minimum 1300 mile flight to Seattle or beyond. That’s why Anchorage has the highest ticket prices: Alaskans have to fly the farthest to get where they are going.

Is it really more expensive to fly out of Anchorage? I can’t tell. There isn’t enough information given in the study. But be careful how newspapers use statistics to draw conclusions.