Here we are, with the worst environmental disaster on our hands in the gulf, and the president is talking about a "cap-and-trade" bill that has nothing to do with fixing the current problem. I just don't get it. Not once in his speech did he mention anything about how he would actually plug the hole. There was plenty of talk about holding someone accountable but that won't fix the problem. It seems, for the first time in his political career, he has run into a problem that he cannot fix and he knows it.
Here's another take on his speech, at the LA Times.
But the good news for those in the Bakken: no indication of backing down on the six-month moratorium on deep-water drilling in the gulf, and the on-going evaluation of shallow-water drilling off shore. If the general economy improves, the price oil should keep going up.
I almost missed it, but natural gas is now above $5.00. EOG is near its high for the year ($114) at $110.
June 18, 2010: here's more from the LA Times.
June 18, 2010: here's Peggy Noonan and the Wall Street Journal; some of the best writing ever.
June 18, 2010: even Germany's Der Spiegel sees it "my" way.
Why don't you post a comment---your oil reporting is wonderful, but your politics are so far to the right that it takes away from your credibility. dholmen
ReplyDeleteThank you. Without a bit of commentary, I would find this site extremely boring. One has no idea how difficult it is for me to restrain myself from writing what/how I really feel.
ReplyDeleteWow! I thought I was a bit hard on the president, but MSNBC (Olbermann, Matthews, Fineman) were much, much, much harder on the president. I saw this report after I posted all of the above.
ReplyDeletehttp://www.realclearpolitics.com/video/2010/06/15/msnbc_trashes_obamas_address_compared_to_carter_i_dont_sense_executive_command.html
I generally agree with your comment, yet you state one thing that I think is a miss:
ReplyDelete"It seems, for the first time in his political career, he has run into a problem that he cannot fix and he knows it. "
Uh, what has he actually fixed, ever? all his 'fixes' are simply MORE government intervention (which is simply breaking things more) - I don't see where he has 'fixed' anything......
Thank you for your support. I have to agree with you. I guess I was looking at the situation through his eyes: his "fixes" have been through government intervention, as you say, and this is one situation that is beyond what lawyers can do.
ReplyDeleteInterestingly enough, companies like Halliburton, XOM, and Transocean are probably the ones best suited to provide assistance on stopping this leak, but heaven forbid the administration call them in for help. I've opined before that I don't think a core competency of the US Coast Guard is stopping oil leaks at 5000 feet underwater.