Posted by: rotenochsen | February 11, 2009

GET READY FOR $4.00 GASOLINE AGAIN!

 Wednesday, February 11, 2009 12:58:19 PM The Democrats went along with the lifting of the ban on off shore drilling for oil when the voters at home had to pay four plus dollars a gallon to run the vehicles. Now that they control both houses in Congress and gasoline is hovering near $2.00 a gallon they have reversed their position. They have blocked offshore drilling plans put in place at the last minute of his administration by President Bush, including plans to open the national outer continental shelf for drilling. Interior Department Secretary Ken Salazar also announced last week that his agency would block drilling on public lands in Utah, criticizing the Bush administration for releasing its offshore drilling plan just days before leaving office…Mr. Salazar said he plans to hold four meetings nationwide as he considers how to rewrite the nation’s five-year offshore drilling plan and has extended the public-comment period six months, pushing any action well into the fall. A former Bush administration staffer said the extended review process needlessly drags out an already thorough process. “Given the domestic-supply challenges we face, it’s hard to imagine what more can be accomplished by extending the comment period,” said Michael D. Olsen, a former Interior Department staffer now working with the Bracewell & Giuliani law firm. Offshore oil exploration and drilling became a tough topic for Democrats during the 2008 elections, as gas prices topped $4 a gallon and public opinion polls showed broad support for expanded domestic oil production – a prospect opposed by many environmental groups at the core of their base. The congressional moratorium, which had been in place since 1982, lapsed just months after President Bush lifted an executive order banning offshore drilling. With all the feigned concern by the Congress for those who elected them to their present “princely” positions. They passed a “spendulus” Pork bill to supposedly rescue the economy. They have apparently ignored the fact that energy independence from the Arabs and Mexicans and Venezuela, requires that we tap into the crude oil reserves on and off shore if we really want to save our economy. The economy runs on gasoline and diesel, as does our military. Wind mills and battery power cannot run the semi trailers that move food products from the farmers to the market. And have you ever seen a fighter jet plane or a tank that runs on batteries? Admiral Rickover realized that reliance on batteries limited the amount of time that a submarine could remain on station many years ago. So he developed (horror of horrors) a nuclear propulsion system for the submarine, and the Navy has kept us safe from attacks by Countries that hate us for decades! It seems to me that the Democrats, and unfortunately the President, want us to have a continuous severe financial crisis so they can continue to tell us that they are the only hope we have, if we only agree to their Socialization of our Country by passing stimulus 2 and stimulus 3 as each proceeding “porkulus” plan fails to do anything but result in rapid devaluation of the dollar and hyper inflation! I would never call the President a liar, but when he told an adoring crowd in Fort Meyers, Florida that no Economics expert opposes what he is pushing as a stimulus package. He is either uninformed by his staff or else he refuses to believe the Media that has reported that even some who previously thought it was a good idea have now reversed their opinion! For an example, the conclusion that a man who teaches Economics at Wayne State University,should give you an indication of what someone who actually studies and teaches economics has to say. “In short, the fact that Ricardian equivalence serves as a close approximation to actual results and the widespread failure of discretionary fiscal stimulus described by Taylor above, suggest that the stimulus package will be a failure. Further, given the pork-laden nature of the stimulus package, it is unlikely that the spending can even be justified on its intrinsic value, let alone on stimulation. The stimulus will fail”. Source and complete article can be found @http://everydayecon.wordpress.com And to add salt to the wound of misinformation about the effect of “stimulus” here is the quote of MIT Economist E. Cary Brown. “This stimulus plan is stupid and only will bring long term harm to the economy. No matter how you look at it “running a deficit” (insert -burning money ) with a national debt that basically equals GDP means higher taxes, decreased business profitability and additional pain to future generations. The system is broken and it desperately needs a fix not the appearance of a fix”.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: