Why Obama’s Broad Energy Action Plan is a Joke

Why Obama’s Broad Energy Action Plan is a Joke

The 1st paragraph says it all – from the Wall Street Journal Online (emphasis is mine):

President Barack Obama will use an Oval Office address Tuesday night to outline his plans for cleaning up the Gulf oil spill, compensating victims, getting tough on the offshore oil industry and enacting new policies to reduce U.S. oil dependence.

My problem, specifically, is with the last comment.  Why stop at reducing U.S. dependence on foreign oil?  Why not expand that mandate to include industrial metals…palm oil…and cabbage patch kids?

Barack Obama

It's hard to blame someone for not having an economic clue - when they've never had a real job.

This is Silly Economics 101.  The free market should be allowed to determine who produces a good or service – not a presidential administration.

This type of central economic planning never works.  Most of us have heard it so often, for so long, from our “capitalist” leadership that we don’t even blink an eye at it anymore – it’s astounding.

Unfortunately, this type of backwards thinking is likely to get worse before it gets better.  That’s what happened in the last Depression – and sadly that’s what appears to be unfolding in this one.

When things turn bad, and markets turn down, politicians can’t seem to escape the basic human nature of erecting barriers and “us against them” thinking – which only exacerbates an already poor economic situation.  Limiting free trade usually has disastrous consequences.  It’s a lesson our political leaders have a hard time grasping.

  • I am afraid that the free market has caused the bribing of our legislatures, food that no one in his right mind would eat, and the kind of oil spill now occuring in the gulf. I’m looking for something OTHER than capitalism, because in my lifetime it has proven to be less and less for anyone other than elites..

  • tomt

    Bill,
    The problem is not with free market capitalism. If we had it , there would not have been any bailouts- we would have suffered through a collapse where banks, AIG, GM, etc would have gone into bankruptcy. By now healthy companies would have picked over the remaing assets and we would have had and opportunity to begin again. The problem is a gov. that wants to appease the public with action, while of cours saving the banks that provide their “reelection” finances and promises “future opportunity” to them as well.
    The enemy as I see it is us- accepting the pandering of politicans
    and the “free” government assistance. We have spent the wealth of the richest nation circa 1950’s into debtors prison, and found it all to easy to ignore what these politicans were enabling (with corporation money as the carrot) for 50 years. There really is no difference between Republicans and Democrats in this regard- in Washington these political parties are political machines that control their members thereby maintaining this ongoing rip off of main street. Think about who you will vote for in the future – it is our only hope of ending this.

About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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