Monday, November 14, 2011

US President Obama Busy Creating Energy Jobs -- For Other Countries

The Obama administration continues to create energy jobs...for other countries that is. Friday I wrote about the Obama Administration's decision to delay the decision to make a decision on the fate of the Keystone Pipeline and that delay may kill the project and all the jobs that went with it. The Wall Street Journal writes today, "Just a few days after the U.S. said it would delay approval of an oil pipeline that would boost Canadian exports to the U.S., Canadian Prime Minister Stephen Harper said Sunday the country would push to sell its crude to Asian markets instead. " t Obama, for the sake of politics, cost the country 20,000 good paying jobs. But don't worry he is spending a lot of money on high risk, low return energy sources.

Read more: _Community.Nasdaq
By slowing down US domestic coal, natural gas, kerogen oil shales, offshore oil, and imports of Canadian oil sands, Mr. Obama is helping overseas producers from Russia to Venezuela to Iran to Saudi Arabia. Obama has provided generous loan guarantees to Brazil to help develop its rich offshore oil & gas. By way of bailouts to the EU, Obama has indirectly helped to subsidise Spain's ruionous green energy economic destruction program -- after Spain itself had been forced to back away from subsidies for its own bad programs.

Obama's generous domestic subsidies have been geared to benefit wealthy campaign backers such as George Kaiser, General Electric, Goldman Sachs, Morgan Stanley, the wealthy and connected family of Nancy Pelosi, and George Soros. Even if all of Obama's $billion green projects fail, his cronies will still get their loot -- guaranteed!
The government often backs questionable ventures, but throwing taxpayer dollars at risky projects without regard for proven market truth is counterproductive. The new loans are the latest offense for the Department of Energy and the Obama Administration—and they are heading straight for another deep failure that promises another expensive lesson for taxpayers.

As a country deep in debt, America does not need to waste money on President Obama’s political favors and errant energy subsidies. _Heritage
Follow the links for more details.

US President Obama's feckless cronyism and blatant disregard for the economic well-being of the US and US taxpayers -- present and future -- would be reason enough in themselves to seek a replacement with all due expediency. Sadly, that is just the beginning of Mr. Obama's malfeasance in office. And even more sadly, with the support of the US skankstream media, the incompetent clown may be given another four years of economic destruction, on top of his one remaining. Should that occur, expect the survivalist and prepper movement worldwide to become one of the the greatest boom economic sectors of all time.

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