Obama’s Agenda: By Any Means Necessary?
By Wyatt Earp | July 20, 2010
President Obama’s offshore drilling moratorium may make his liberal base and the environmentalist whackos happy, but his smug sense of self-satisfaction will bite him in the arse. Especially since the economic loss that the region will suffer is expected to be catastrophic.
The presidential offshore drilling moratorium will cost approximately US $2.1 billion in economic loss to the states along the Gulf of Mexico (GoM) in the first six months, according to a recently released paper.
“The Economic Cost of a Moratorium on the Offshore Oil and Gas Exploration to the Gulf Region” was written by Dr. Joseph R. Mason, Louisiana State University endowed chair of banking and renowned economist. Mason said he estimates the moratorium will see a loss of 8,000 jobs and $500 million in lost wages in the Gulf Coast in the first six months.
“The moratorium will cost the Gulf Coast region jobs, money, and economic development,” he said. “In fact, the moratorium could be more costly than the oil spill itself.”
It’s bad enough that the president is not treating the oil spill seriously. His knee-jerk reaction is – as expected – making things much worse.
Topics: Politics | 12 Comments »
July 20th, 2010 at 1:45 pm
“The moratorium will see a loss of 8,000 jobs and $500 million in lost wages in the Gulf Coast in the first six months.”
But wait, won’t all of the jobs coming from the stimulus plan cover all of those losses and keep unemployment at or near 8%?
The voters in 2008 brought in a Chicago Community Organizer whom Oprah and Lib Hollywood proceeded to Canonize and who knew nothing about everyday business management or for that matter meeting a payroll.
And for that mistake we are all paying very dearly.
July 20th, 2010 at 2:07 pm
Don’t worry, I’m sure those lost jobs will be replaced by “green” jobs manufacturing windmills and solar panels from recycled materials.
July 20th, 2010 at 2:21 pm
In the Spirit of 1776 I ask…Is it time yet?
July 20th, 2010 at 2:32 pm
Jon Brooks Says:
July 20th, 2010 at 2:21 pm
In the Spirit of 1776 I ask…Is it time yet?
Good Grief, I hope so……
July 20th, 2010 at 3:58 pm
Complete and total economic collapse, here we come.
By the way, I’m back on line.
July 20th, 2010 at 4:21 pm
Obama doesn’t give a damn about states that didn’t vote for him – and the gulf states are just that.
July 20th, 2010 at 4:27 pm
Clear your calenders for early November….You have an appointment at the ballot box. First, the minions in the House & Senate, then two years later in the White House. Can’t happen soon enough…..
July 20th, 2010 at 7:03 pm
Don’t forget- 0bama clearly hates Asians.
July 21st, 2010 at 11:07 am
Ferrell – And we still have two years to go (at least).
John D – Look how well that’s working out for Britain. It ain’t.
Jon – Not for me. November is coming. As is change.
Kim – Good! One economist stated that he expects the Dow to drop to 7500 by December 31st. Swell.
Smite – That is looking more and more like the case.
Roger – Every conservative should get their asses to the polls this year. Every one.
Fenway – Payback for Charlie, I suppose.
July 21st, 2010 at 11:17 am
These are Red States enough said.
July 21st, 2010 at 5:57 pm
And the kicker is those drilling ships are leaving for other countries so they may not be back for 2 years or may never come back. This is like banning all cars for 6 months because there was a bad crash today.
July 22nd, 2010 at 7:48 am
Rick – Hope. Change. Disaster.
Ingineer66 – A knee-jerk reaction by Obama? Who woulda thunk it?