Tuesday, June 8, 2010

Obama Will Reopen Drilling in Gulf

In a lesson in taking into account all the elements of a situation before making assertions and engaging in demagoguery, Barack Obama has reversed his decision on drilling in the Gulf.

If the Obama had thought this through more carefully, and his advisers would have given better input, he wouldn't be in this compromising situation, where the idea of losing up to 40,000 jobs from the consequences of the moratorium were never a reality that could have been allowed to happen.

You also have to add the significant tax dollars generated by the industry to understand how dumb it now looks to even attempt to talk tough when there is no possibility of there being a bite in it.

More than likely they'll also have to reassess the proposed regulations, which if too draconian, will also have a significant impact on tax revenue, as margins and earnings would decrease as a result.

No comments:

Post a Comment