Pages

▼

Sunday, May 1, 2011

Spain's Unemployment: 21% -- Absolutely Incredible -- Nothing To Do With The Bakken

Absolutely nothing to do with the Bakken, but I would hate to see the unemployment numbers if the EPA puts onshore drilling out of business. Unless I'm missing something, the EPA could essentially shut down all drilling in this country. But I'm putting nothing past this administration. With GDP growth at a miserably low 1.8 percent this past quarter, shutting down the domestic oil industry would have to result in negative GDP growth, and higher oil prices almost overnight. But again, perhaps I'm overreacting.
Spain's unemployment rate rose nearly a point to 21.29%, with 4.9 million jobless for the first quarter of 2011, the government reported Friday, as the prolonged economic crisis continues to squeeze the nation.
Link here.
at

7 comments:

  1. AnonymousMay 1, 2011 at 9:32 PM

    Maybe this will calm your concerns

    http://www.data360.org/dsg.aspx?Data_Set_Group_Id=274


    The recesssion is over, it's in the rear view mirror.

    The Dow is about to make new highs.

    I hope people don't follow your gloom and doom outlook in their investing bcause you could be way wrong and I think you are . The future for the us very positive. Sorry than doesn't line up with your anti obama agenda .

    ReplyDelete
  2. Bruce OksolMay 1, 2011 at 9:41 PM

    No gloom and doom here. I'm fully invested. I am very, very bullish.

    But if the EPA shuts down the domestic oil industry, all bets are off.

    Thank you for taking the time to comment.

    ReplyDelete
  3. AnonymousMay 1, 2011 at 9:50 PM

    Ok so you are telling me that the EPA can make some pronouncement that will derail the recovery that is happening? I disagree with that thesis . P

    ReplyDelete
  4. Bruce OksolMay 1, 2011 at 9:56 PM

    Yes, I am saying that. If the EPA shuts down domestic drilling in the US, that's the end of the recovery. Period. Dot.

    ReplyDelete
  5. Bruce OksolMay 1, 2011 at 10:11 PM

    I think this article supports my thesis:

    http://www.api.org/Newsroom/industry-supports.cfm

    If the domestic oil industry is shut down, that's the end of the recovery. Period. Dot.

    ReplyDelete
  6. weslinkMay 2, 2011 at 10:39 AM

    listen here Anonymous epa does what the hell they want,they think there super power over the enviroment,let it be known they caused more harm then good, and if you think we are in recovery,, ur NUTS

    ReplyDelete
  7. Bruce OksolMay 2, 2011 at 1:23 PM

    Weslink,

    Thank you for your support. I was quite surprised someone thought the recession was over; that the recession was in our rear view mirror -- tell that to the 20% unemployed or under-employed, especially the urban youth.

    ReplyDelete

Note: Only a member of this blog may post a comment.