From astute Atlas reader van:
Just wanted to give you some thought on the continuing decline of America at the hands of this criminal Presidency.
Shell/BP has quit their plan to drill in the Arctic offshore Alaska after being denied an Air Quality Permit from the EPA and the criminal Lisa Jackson. As you know, destroying the economy is one form of terrorism.
Shell paid $2.2 Billion for the oil leases and put another $4 Billion into exploration. The nearest village is 70 miles from the rig and there are only 243 inhabitants, probably Alaskan native Indians. From what I understand, they were supportive of Shell's plans. The EPA rejected the AQ permit because they claim Shell did not include the exhaust emissions of the icebreaker ship transporting men and equipment to the site! You can't make this shit up, Atlas.
The U.S. portion of the huge estimated oil reserves was 27 Billion barrels, nearly 50% of current gasoline production in this country.
Alaska's general fund receives 90% of it's revenue from the petroleum industry! The State legislators were outraged at the EPA decision. Sarah Palin could probably add a few comments!
There is an ancillary story that the Alaska Pipeline is at risk of falling into destruction because of the low volume of oil being transported. Construction of that pipeline was a monumental achievement necessary to America's oil independence.
This destruction of America is simply NO accident, but the plan of this Administration and its Monetary Policy via the Federal Reserve, as I've opined before.
Obama has targeted the oil speculators. He wants to make them scapegoats and tax the oil companies. Oil prices in the market are a forward pricing mechanism. The speculators are telling us that they think oil will be more expensive in the near future.
We have not increased our domestic production due to onerous regulations for refineries. He has imposed a drilling ban in ANWR, in the Gulf, and other coastal areas, even though other countries are drilling there, including China!
We are subsidizing ethanol production at the cost of a staple food, corn, that is increasing food costs around the world. He wants green technology instead of using abundant coal and nuclear. They will not save us. Oil is the fuel of necessity on this planet. It drives the engine of Capitalism.
Because of liar and tax-cheat Geithner's weak-dollar policy and that of Bernanke's Fed, the price of oil imports and everything else is rising, as is inflation. These two men are responsible for America's economic destruction with the approval of the America Hater-In-Chief. Like you said, it's hard not to hate this guy.
End of story.