President Barack Obama has continued his morphing into George W. Bush this week with a speech today calling for expanded oil drilling — a departure from his promise to focus on renewable energy. Tell me who this sounds like: “Producing more oil in America can help lower oil prices, can help create jobs and can enhance our energy security.”
This of course follows his controversial decision to open up the pristine areas on our East Coast to offshore drilling — just before the BP disaster. Then his Administration was accused of misleading the public on the “miracle” claimed by people like Carol Browner in the disappearance of the oil. Now, the Obama Administration is being criticized by the Coast Guard for its poor response to the spill. The latter story has largely been ignored by the mainstream media. The Coast Guard called the response “muted” — which sounds like a description that went back and forth among Administration officials with a Thesaurus in hand. I can see it now: “is there another word for “failure” or “negligent”? Something not so negative or comprehensible? . . . Hey how about ‘muted’?!”
This follows earlier reports criticizing the Administration for this response, which were also largely ignored.
Imagine what we could do with the $1 billion that we are about to spend in Libya alone in the development of renewable energy sources. We just literally burned it on the deserts of Libya — an oil rich nation which will turn around and sell us the oil that we need in the absence of renewable energy.
Source: Investers
BP to resume Gulf of Mexico drilling: report
BP has struck a deal with U.S. regulators that will allow it to resume deepwater drilling in the Gulf of Mexico, a year after the Deepwater Horizon rig exploded, the Sunday Times reported.
http://www.reuters.com/article/2011/04/03/us-bp-gulf-idUSTRE7320W120110403
In the end it depends on what is meant by “American Oil”, which in turn depends on who is the definer in chief.
http://blogdredd.blogspot.com/2011/03/fleets-terrorism-follow-oil-2.html
We have spent our way into a 3rd world country. How much is enough?
Wal-Mart CEO Warns Of Serious Inflation In The Coming Monthes
U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday.
The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.
Still, inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. “We’re seeing cost increases starting to come through at a pretty rapid rate.”
Along with steep increases in raw material costs, John Long, a retail strategist at Kurt Salmon, says labor costs in China and fuel costs for transportation are weighing heavily on retailers. He predicts prices will start increasing at all retailers in June.
http://thewarningsigns.blogspot.com/2011/03/wal-mart-ceo-warns-of-serious-inflation.html
original cost of LA Purchase = $15,000,000
Cost in terms of todays dollars = 281,000,000.00
Taking into account the New Deal, the Marshall Plan, the Korean War, the Viet Nam War, the Iraq War and the Space Program the amount of money would equal 3.9 trillion dollars in terms of todays dollars.
I think we have a big problem, we are screwed. There is no way we can over come this kind of debt.
We have spent our way into a 3rd world country. How much is enough?