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Saturday, May 23, 2009

Economic Strangulation

President Obama continues to implement the most radical socialist agenda in American history. He has already nationalized large segments of the banking, insurance and automobile industries, while managing to quadruple the national deficit with his record government spending spree. All this under the guise of "economic stimulus" intended to kick start the struggling economy.

The left's "green" agenda will soon be bringing a "cap & trade" carbon tax to a neighbourhood near you. Just what the economy needs - more taxes and higher energy costs.

But the One has also managed to put a stranglehold on America's ability to free itself of it's energy dependence on foreign oil, says Dr. Mark W. Hendrickson:

The Green Left must be thrilled with the new Obama/Pelosi/Reid (OPR) troika in charge of the federal government. Three times already, the troika has blocked the development of domestic oil resources.

During his first week in office, President Obama rescinded his predecessor’s executive order permitting drilling on the continental shelf and in the Green River Formation. Both areas contain abundant oil—especially Green River (under Wyoming, Colorado, and Utah), which has recoverable shale-oil reserves three times the oil reserves of Saudi Arabia.

Several weeks later, Secretary of the Interior Ken Salazar unilaterally canceled 77 oil and gas leases in Utah, on the grounds that (I kid you not) someone might catch a glimpse of temporary drilling equipment from the national park that sits more than a mile away.


In addition to increasing American dependence on foreign oil by thwarting such domestic development, the OPR/green alliance desires the imposition of expensive cap-and-trade rules to discourage utilities from using coal, which currently provides nearly half of America’s electricity.
Read the rest at FrontPage Magazine.

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