That Stench of Rotting Bull is Just Obama’s Oval Office Speech

That Stench of Rotting Bull is Just Obama’s Oval Office Speech

Posted By Jeff Dunetz On June 16, 2010 @ 5:03 am In Environment, Federal Spending, News, Obama, Politics, Regulation, taxes |

Putting aside for a second the fact that this speech was given about 50 days late, last night’s oval office speech proved that the President is not ready to be honest with the American people.  For the first 30 days of this crisis, President Obama was ignoring the fact that the crisis existed, and now when he uses the oval office to give the people confidence that he is on top of the problem  he spends more time trying to sell cap and trade than discussing capping the well. Essentially, he is still ignoring the crisis.

Lets take a look at the key points of the President’s speech. He begins by trying to convince America that he has been doing a great job at managing the disaster:

“…  I assembled a team of our nation’s best scientists and engineers to tackle this challenge – a team led by Dr. Steven Chu, a Nobel Prize-winning physicist and our nation’s Secretary of Energy. Scientists at our national labs and experts from academia and other oil companies have also provided ideas and advice.”

Nobel prizes have not been impressive since  Obama recived one for doing nothing and Al Gore got one for a hoax.  The key is how the ideas from those great minds are implemented. The President’s management of the crisis has been horrible.  Even the progressive bible  the NY Times [1] trashed Obama’s  management of the crisis:

“The information is not flowing,” Senator Nelson said. “The decisions are not timely. The resources are not produced. And as a result, you have a big mess, with no command and control.”

In other words,  the leadership and management coming from the executive branch of the government has been a disaster.

“Because of our efforts, millions of gallons of oil have already been removed from the water through burning, skimming, and other collection methods. Over five and a half million feet of boom has been laid across the water to block and absorb the approaching oil. We have approved the construction of new barrier islands in Louisiana to try and stop the oil before it reaches the shore, and we are working with Alabama, Mississippi, and Florida to implement creative approaches to their unique coastlines.”

A little truth Mr. President?  Only after Bobby Jindal said he was going to build the barrier islands whether they were approved or not, was the barrier island  plan approved.

The  President might have come clean and told us  why the United States refused to accept skimmers from the Dutch [2], or help from any other country. Maybe he could have explained  why miles of oil boom remain in a Maine warehouse despite the fact that the administration was informed of the supply [3] the third week of May.

“… Tomorrow, I will meet with the chairman of BP and inform him that he is to set aside whatever resources are required to compensate the workers and business owners who have been harmed as a result of his company’s recklessness. And this fund will not be controlled by BP. In order to ensure that all legitimate claims are paid out in a fair and timely manner, the account must and will be administered by an independent, third party.”

While most people would agree that  BP should be paying  for the damage it caused, (BP has promised that it will),  there is no place in the constitution saying that the President has the power to demand a company set aside money in an escrow account? Nor is there a place saying  the POTUS can demand that the account be administered by a third party.  To be honest that clause could be hiding  right next to the clause saying  the government can force citizens to purchase health insurance.

The  demand for BP to freeze money in an escrow account shows a lack of understanding of capitalism. Not allowing BP to spend those dollars on growing its business is limiting the company’s ability to generate the profits  necessary to pay its obligation to the victims of the disaster.

“… Already, I have issued a six-month moratorium on deepwater drilling. I know this creates difficulty for the people who work on these rigs, but for the sake of their safety, and for the sake of the entire region, we need to know the facts before we allow deepwater drilling to continue.”

The drilling freeze is like closing down GM the first time one of its cars is involved in an accident.  Wood Mackenzie Research and Consulting published a report [4] saying the six month moratorium will result in job losses of over 120,000 by 2014. The gulf region is already suffering, as is the American economy, the embargo does nothing but make it worse.

“One place we have already begun to take action is at the agency in charge of regulating drilling and issuing permits, known as the Minerals Management Service. Over the last decade, this agency has become emblematic of a failed philosophy that views all regulation with hostility – a philosophy that says corporations should be allowed to play by their own rules and police themselves. At this agency, industry insiders were put in charge of industry oversight. Oil companies showered regulators with gifts and favors, and were essentially allowed to conduct their own safety inspections and write their own regulations.

When Ken Salazar became my Secretary of the Interior, one of his very first acts was to clean up the worst of the corruption at this agency. But it’s now clear that the problems there ran much deeper, and the pace of reform was just too slow.”

The problem was much worse than the President described.  The Minerals Management Service scandal  broke in September 2008 [5]. This crisis did not happen at the beginning of Obama’s administration but  there was a sixteen month window between the inauguration and the oil spill. This was Obama’s problem not Bush’s.

... a larger lesson is that no matter how much we improve our regulation of the industry, drilling for oil these days entails greater risk. After all, oil is a finite resource. We consume more than 20% of the world’s oil, but have less than 2% of the world’s oil reserves. And that’s part of the reason oil companies are drilling a mile beneath the surface of the ocean – because we’re running out of places to drill on land and in shallow water.

Mr President you are lying. A report from the nonpartisan Congressional Research Service (CRS) dated October 2009 [6]proves Obama is lying. The report shows the  amount of  recoverable oil in the U.S. to be 167 billion barrels of oil, not the 21 billion figure pushed by the Democrats.  If exploited that 167 billion barrels could replace America’s  imports from OPEC countries for more than 75 years.

That same report shows that America’s combined recoverable natural gas, oil, and coal supply is the largest on Earth. America’s recoverable resources are far larger than those of Saudi Arabia (3rd), China (4th), and Canada (6th) combined. Those estimates don’t include America’s  immense oil shale deposits.

“The consequences of our inaction are now in plain sight. Countries like China are investing in clean energy jobs and industries that should be here in America. Each day, we send nearly $1 billion of our wealth to foreign countries for their oil. And today, as we look to the Gulf, we see an entire way of life being threatened by a menacing cloud of black crude.”

That’s true. China is investing in clean energy, at the same time they are exploiting every possible opportunity to exploit their own resources.  The United States is funding part of their green job investment with the interest payments from the money that China is loaning us.

If the President and his progressive allies allowed the U.S. to exploit our own resources, there would be no need to  spend that $1 billion on foreign oil.

“...The transition away from fossil fuels will take some time, but over the last year and a half, we have already taken unprecedented action to jumpstart the clean energy industry. As we speak, old factories are reopening to produce wind turbines, people are going back to work installing energy-efficient windows, and small businesses are making solar panels. Consumers are buying more efficient cars and trucks, and families are making their homes more energy-efficient. Scientists and researchers are discovering clean energy technologies that will someday lead to entire new industries.”

Here is the  truth about alternate energy Obama forgets to mention. With the exception of  nuclear energy, no alternate energy has been developed that can run this nation as effectively or efficiently as fossil fuels. Nothing even in the same neighborhood. If the economy is “switched over” before a legitimate alternative is developed, the catastrophically higher prices will collapse the economy.

The President is a recent convert to nuclear power, but not a serious one. He has not allowed the approval process to be streamlined, or a way around the objections of his environmental buddies. So even the one real alternative energy cannot be exploited quickly.

“…Last year, the House of Representatives acted on these principles by passing a strong and comprehensive energy and climate bill – a bill that finally makes clean energy the profitable kind of energy for America’s businesses.

Now, there are costs associated with this transition. And some believe we can’t afford those costs right now. I say we can’t afford not to change how we produce and use energy – because the long-term costs to our economy, our national security, and our environment are far greater.”

The bill passed by the House represents the largest tax increase [7] in American history. It also uses  government regulation  essentially  take over every industry that uses fossil fuel (wait, every industry uses fossil fuel).

More than Obamacare, cap and trade represents a takeover of the American economy, that will retard economic growth, and push the already bankrupt federal budget over the edge.

“Some have suggested raising efficiency standards in our buildings like we did in our cars and trucks. Some believe we should set standards to ensure that more of our electricity comes from wind and solar power. Others wonder why the energy industry only spends a fraction of what the high-tech industry does on research and development – and want to rapidly boost our investments in such research and development.”

And some just want to know where the government is going to get the money? It looks like China will get more US interest payments so they can invest in green energy.

“The same thing was said about our ability to harness the science and technology to land a man safely on the surface of the moon.”

Holy Cow, what an original thought!. “If we can land a man on the moon, why cant we find green energy?” Maybe I can use that line for a future post. I will  have to remember that one.  As I will remember the President’s entire speech.  Who knew that one Obama could fit so much bull into just eighteen minutes. The President may get a slight bump from this, but within a week, the stench of the rotting Presidential bull will drive Americans away from the lies he told tonight.

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