Dining With Solyndra Culprits, Obama Threatens Veto of GOP Drill Bill
The other evening, while Obama was dining at a $35,800 Oakland fundraiser with two of the principal co-culprits in his administration’s $535 million Solyndra scandal – financier/bundler Steve Westly and former Energy Department Pooh-bah Matt Rogers – White House aides let it be known that Obama is doubling down on his war against hydrocarbon-based energy – and job creation – and intends to veto a Republican bill that would have vastly increased US off-shore drilling. From The Hill:
“The Administration strongly opposes H.R. 6082, which would undermine the targeted, science-based, and regionally-tailored offshore development strategy that the American people and the States have helped develop over the last three years,” the White House said in a “formal statement of administration policy,” referring to the House plan by its bill number.
…(T)he bill … requires Interior Department oil-and-gas leasing off the Atlantic and Pacific coasts, which remain off-limits for at least the next five years under the Obama administration’s plans… and also calls for a more aggressive schedule of lease sales in Arctic waters off Alaska’s coast
Democrats are fond of pointing to the economic prosperity the country enjoyed during the later years of the Clinton presidency, just as Republicans point to the economic dynamism of the Reagan years… although most Democrats are at a loss to explain the how and why of Clinton’s second term prosperity.
What these periods of economic growth had in common were lowered marginal tax rates, a “strong” dollar, and substantially lower priced crude oil averaging $25.00 to $45.00 per barrel… in effect a huge tax break for Americans. By contrast, Obama’s policies emphasize higher marginal tax rates (particularly for the investor/job-creator class), a weaker dollar, and higher priced oil as a means of forcing the markets to accept his so-called “Green Energy” alternatives.
Is it any wonder that the US economy now finds itself drifting downward into a new, Obama-inspired recession? Or worse?Tags: Barack Obama, Domestic Issues, Oil Drilling, Politics