Oil Being Released & Obama’s Solution?
This President is absolutely predictable in his dedication to the credo that everything about the private sector needs to be changed to government control. He is committed to the belief that with his control we will all be better off when he wrests control of the total economy from the evil grasps of capitalism.
In his speech to the nation there was foreshadowing of his strategy to put BP out of business as the first step in gaining control of the oil industry. He stated that BP was reckless and that their recklessness created the problem in the Gulf.
I knew what was coming when I saw the government estimates of the oil being released increasing every other day. The headlines trumpeted that the early estimates were too low and government experts determined that there was actually twice as much oil escaping than had been originally thought.
A day or two later the government experts were increasing their estimate by thousands of barrels. I got to thinking what is going on here? There is a lot of oil escaping and who are these experts who keep increasing the estimate? Why is it so important to know whether 20,000 barrels a day is escaping or if the figure is 30,000 barrels?. Whatever the figure, it is too much and needs to be stopped.
A short period of research points to the clues as to how Obama’s strategy seems to be unfolding.
After the Exxon Valdez, Alaskan oil spill, penalties were determined concerning oil spillage. The way it currently stands is that if an oil company spills or discharges oil into American water they are subjected to a penalty of $1,100 per barrel of spilled oil. There is a second level fine of $4,300 per barrel if it is determined that gross negligence caused the spill.
Obama has determined that BP recklessness caused the problem. Mistakes were made but were the mistakes caused by reckless procedures and gross negligence. At this point no one is sure, including the President. A full investigation is needed to make determinations, with the primary purpose being to establish safe procedures for deep water drilling. The comments being made at the time as to responsibility are subjective. coming from the personal feelings of Obama and his cohorts. There is no evidence of objectivity in Obama actions or conclusions. Gross negligence will be determined along the way and the financial responsibility will be established after what I am sure will be a legal and political battle.
The President once again has placed his political strategy and Statist goals in the forefront of this situation. His course as designed will create a greater peril for American than the oil on the beaches.
BP is one of the biggest if not the largest employer of British citizens. A Presidential strategy that puts the existence of BP in jeopardy will certainly seriously damage relations with the UK.
The negative effect upon the oil industry by the Obama actions and words is sure to be chilling and a further drag on our economy. There are many American employed by BP and millions of American own the stock individually or in a mutual fund. The President seems not to care about these facts in his quest to give us Cap and Trade legislation using the oil spill and evil companies as legislative motivators.
If Obama is not brought under reign by Congress we are heading for greater unemployment and gasoline costing somewhere between $5 and $10 per gallon, and serious strained relations with the UK, our best friends in the world.
After thought:
In a recent post I alluded to the possibility that the Obama strategy would benefit bicycle manufacturers, since many of us will need to use a bike to get around rather than a car running on $5 a gallon gasoline.
That possibility remains, but there is an additional fact I failed to mention. There are no longer any major manufacturers of bicycles in the United States. They are pretty much all built in China. If I need to buy a bike it will most likely be from China>
Addition to this Post made on June 16 1pm MDST
The BBC in a report issued at 12:52 Mountain time
This was issued shortly after BP officers met with Obama
“A government panel of scientists now believes 35,000-60,000 barrels are leaking each day, up from its estimate last week of 20,000-40,000.”
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