Once again Barack Obama gets it wrong. This time it’s his new drilling moratorium that the court said he can’t do, but he and his party just did it anyway. Damn the courts, and damn the law. What a great example of a bad example. Has this guy done anything right since he’s been in office? No, he hasn’t. Not one thing. At least offhand, I can’t think of one thing he’s done that’s been right. Wrong on everything. I’m going to keep calling him “Wrong Way” Obama. It fits. This guy is so much of an ideologue, he can’t see anything else. Jimmy Carter wasn’t this bad.
Wanna know how much damage his drilling moratorium is going to cause? I guess I should say, is projected to cause. You need to be sitting down for this one:
During a 45-minute conference call with journalists from 40 major media outlets this morning, Jack Gerard shared some startling predictions about the future health of the nation’s oil and natural gas industry if the Obama Administration gets its way in adding more regulation and increasing taxes on offshore drilling in the Gulf of Mexico. The biggest one of all is enough to cause anyone to take pause:
“The administration’s moratorium, if continued indefinitely — or similar legislative proposals which would make the deep water unavailable or uneconomic — would cost this country 175,000 jobs every year between now and 2035, according to our latest analysis,” said Gerard, president of the American Petroleum Institute, a group representing some 400 oil and natural gas companies.
Oh, that’s not all of it, either.
- Reduce direct and indirect employment in the oil & gas and its service industries by 93,000 jobs – every year through 2035;
- Reduce an additional 82,000 jobs every year through 2035 in non oil & gas related industries due to less income in the economy;
- Reduce annual GDP by over $20 billion per year or a cumulative impact of approximately $500 billion in the next 25 years;
- Reduce long-term U.S. oil production by 27 percent; and
- Increase long-term U.S. foreign oil imports by 19 percent.
Does anybody else get the feeling that we are going the wrong way on a one way street? This is completely insane. None of it makes any sense. Obama and the Democrats don’t make any sense. This madness needs to stop.
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