Archive for March, 2009
Just a Throwback
Posted by Tom in Law, Morality & Religion in the Public Square on March 31, 2009
I’ve often wondered why we Americans bifurcate liberal or conservative values between economic and social concepts. I submit there should be no distinction. You either favor free love, abortion, embryonic manufacturing and all that they imply, the so-called liberal values or you favor sexual abstinence, marriage between man and woman, traditional families and social groups and all that they imply, the so-called conservative values. Each has inevitable economic consequences.
Let’s look at the natural consequences of each. Liberal first as it is in vogue with our Democratic political classes propelled by the anti-Bush, press-led Obama ascendency. We don’t need to go back that far to encapsulate its roots. The sexual revolution of the sixties accompanied the student anti-war protests, Haight-Ashbury, hippies, drug culture, free love, women’s liberation all followed from an over-indulged, entitlement-minded generation willing to reject history and tradition and break from it, to revolt. The “age of Aquarius” was upon us; there was no right and wrong, no good and bad, everything was relative. Good intentions were relevant; results were not; no one was accountable; mishaps were society’s fault. “It seemed like a good idea at the time,” was an accepted excuse for not thinking clearly as to possible outcomes. The press hailed the newfound freedom and openness. Universities pumped out liberal versions of history, philosophy, economics and every social “science” that could be ginned up with interdepartmental studies.
Consequences followed and time came to “begin the begats” as the Finian’s Rainbow song so well puts it. Unintended consequences naturally followed which begat more unintended consequences. Aids, unwed mothers, back alley abortions, sex education promoting promiscuity, free birth control promoting more promiscuity, druggies, homelessness, abandoned babies, increased crime to support drug habits, increased unemployment, violence, juvenile delinquency, crime, etc. No society could ignore these problems so the liberal society sought statist solutions. The state, the government would always provide the solution. It was to be looked to for all solutions. Social workers multiplied, teachers multiplied, soft courses multiplied, agencies multiplied, welfare roles increased dramatically, and jails and juvenile halls increased. All this had to be paid for, so taxes increased to service the political classes and required social obligations. With the explosion in government, educational and welfare services came the costs of increases in wages and pensions. Everyone understood that these should match the emoluments available to the so-called private sector so increases came in stride. When those increases were not enough, the employees, public employees, formed unions, which demanded more and threatened strikes. To avoid such unthinkable catastrophes elected officials promised more and guaranteed handsome increases in wages and pensions on the credit of the government, on the credit of the taxpayers. In short government grew exponentially as did its costs. It became the first and last resort for all problems, the handoff of all responsibility. New Deal, Great Society, Obama Deal are all examples.
As you would expect, conservative roots go back a lot farther, Adam & Eve, Abraham, Isaac, Jacob, Moses, Jesus and those that followed. The conservatives acknowledged God or at least that men were not gods; they held to a moral law that distinguished right from wrong, good from bad; they admitted to evil in the world and that not all things were relative. Marriage was between a man and a woman whether in Eden, Cana or San Francisco. Man was responsible for himself and his family as well as the consequences of his actions and omissions. The family had value, the clan had value, the synagogue, the church, the mosque had value, and social organizations had value. Solutions to problems were sought at these social levels not at government levels. All these social groups were to be promoted, protected and defended. In short, there was individual responsibility and social responsibility practiced and taught from generation to generation. Behavior outside the social norms was frowned upon and drew condemnation or eventual shunning. Individual charity and group charity supplied many social needs.
Economically the conservative values resulted in a much more limited government with the province of government confined to protection of borders and enforcement of law both criminal and civil. The rule of law guaranteed individual and social freedom and private property. These values worked to propel our nation to unequaled prosperity in each generation since the Declaration of Independence was signed. Citizens were willing to work hard, save, invest, and take risks; this because they could trust that the products of their work, the returns on their savings and investments would be safeguarded. They knew the rules of the game and were secure in those rules. The also knew that if they failed, no government would be there to bail them out. They were thus encouraged to be prudent in their decisions and risk taking.
True as society grew the role of government naturally expanded, expanded to include logical elements fostering a good society. National banking was established and regulated. Education was funded by taxes and made compulsory. Workplace safety was codified and policed. Antitrust laws were enacted and enforced. Professional licenses were prescribed and standards set. All in all though, government was limited. Interstate commerce, police power, war power and international relations provisions in the Constitution served as a basis and legal justification for this expansion. That same Constitution guaranteed rights of the individuals and reserved residual powers to the states. In short, the Constitution limited the role and power of the federal government.
So back to the original question, how can a person be socially liberal and economically conservative or how can another person be socially conservative and economically liberal? Isn’t either combination a feat of intellectual inconsistency at best or intellectual dishonestly at worst? The former could, for instance, favor sexual promiscuity and oppose aid to dependent children, certainly harsh. The latter could favor the traditional family and support government funding of abortion, embryonic research, cloning or euthanasia, an equally harsh result. I suspect a survey would find more socially liberal economic conservatives than socially conservative economic liberals. Inherent humanness would seem to promote that finding.
Clear, honest analysis requires, I believe, a consistency in positions: social conservatives should be economic conservatives; social liberals should be economic liberals. But, you protest, what does each do with the current state of our society: failed education, broken families, unwed mothers, swelling welfare roles, drug addiction, homelessness, high crime, swelling prisons, etc. The logical answer for social liberals is to ask the government for mandated solutions, to increase government experiment with solutions, and to increase taxes and mandates to pay for the myriad of attempted solutions. The logical answer for social conservatives is to seek help from families, synagogues, churches and social organizations, to promote reform of the existing governmental solution providers, or to redirect existing revenues to resources more able to provide solutions, in short, to limit government involvement and its concomitant expansion and taxation.
History tells us that whatever the government does, it does inefficiently, slowly and without intended result. It seems, though, to accomplish unintended consequences very well and with great dispatch. These unintended consequences create more problems that require more solutions and greater expansion of government, ad nauseam. History on the other hand demonstrates great success and individual freedom with traditional family, clan, religious and social solutions. People will thrive with freedom in the pursuit of happiness.
So I’m just a plain old conservative in every sense of the word. I’m committed to tolerance and I welcome change, the change that comes from society’s progress in the individuals’ collective pursuits of happiness. Like Tevye in Fiddler on the Roof, I’m always willing to argue with myself and say “…on the other hand…” But also like him there are certain issues to which I will ultimately say, “…NO, there is no other hand!” Hey, call me a throwback!
Tom Motherway, tom@renohayek.com
A Rookie President is Dangerous Indeed
Posted by Tom in Foreign Policy on March 30, 2009
Thomas Sowell’s brilliant commentary in Real Clear Politics succinctly points out the dangers of our boy president and his fawning minions. Would that the fourth estate, or what remains of it, had a better sense of balance. It certainly has no sense of shame in putting the rookie in office!
Someone once said that, for every rookie you have on your starting team in the National Football League, you will lose a game. Somewhere, at some time during the season, a rookie will make a mistake that will cost you a game.
We now have a rookie President of the United States and, in the dangerous world we live in, with terrorist nations going nuclear, just one rookie mistake can bring disaster down on this generation and generations yet to come.
Barack Obama is a rookie in a sense that few other Presidents in American history have ever been. It is not just that he has never been President before. He has never had any position of major executive responsibility in any kind of organization where he was personally responsible for the outcome.
Other first-term Presidents have been governors, generals, cabinet members or others in positions of personal responsibility. A few have been senators, like Barack Obama, but usually for longer than Obama, and had not spent half their few years in the senate running for President.
What is even worse than making mistakes is having sycophants telling you that you are doing fine when you are not. In addition to all the usual hangers-on and supplicants for government favors that every President has, Barack Obama has a media that will see no evil, hear no evil and certainly speak no evil.
Hit the link. It’s worth the read.
Tom Motherway, tom@renohayek.com
Navigating Campaign Finance Successfully
Rob Witwer’s article Rocky Ride tells the fascinating story of how Republicans were caught sleeping while independent groups not associated with the Democratic Party managed to convert a Republican state to a Democratic state, up and down the ballot. In essence while McCain-Feingold regulates contributions to political parties and candidates, it ignores non-profit entities even when those entities work together for specific political ends. The article is a must read for those concerned with the direction our current administration is taking the country. I recommend a National Review subscription, http://nrd.nationalreview.com/
Democratic
success in Colorado is in large part the result of what
Stein calls a “more strategic, more focused, more
disciplined, better financed” progressive movement.
In hindsight, what Colorado Democrats did was as sim-
ple as it was effective. First, they built a robust network of non-
profit entities to replace the Colorado Democratic party, which
had been rendered obsolete by campaign-finance reform.
Second, they raised historic amounts of money from large
donors to fund these entities. Third, they developed a consistent,
topical message. Fourth, and most important, they put aside their
policy differences to focus on the common goal of winning elec-
tions. As former Democratic house majority leader Alice
Madden later said, “It’s not rocket science.”
campaigning now consists of paid staff, television and radio ads,
glossy mailers, and platoons of hired door walkers.
The shift of political discourse away from candidates and
towards outside groups has created a tangible change in Col-
orado’s political culture. Campaigns tend to be more negative
Bully for the Cato Institute
Posted by Tom in Environment on March 30, 2009
“Few challenges facing America and the world are more urgent than combating climate change.The science is beyond dispute and the facts are clear.”
— PRESIDENT-ELECT BARACK OBAMA, NOVEMBER 19 , 2008
With all due respect Mr. President, that is not true.
We, the undersigned scientists, maintain that the case for alarm regarding climate change is grossly overstated. Surface temperature changes over the past century have been episodic and modest and there has been no net global warming for over a decade now.1,2 After controlling for population growth and property values, there has been no increase in damages from severe weather-related events.3 The computer models forecasting rapid temperature change abjectly fail to explain recent climate behavior.4 Mr. President, your characterization of the scientific facts regarding climate change and the degree of certainty informing the scientific debate is simply incorrect.
- Yun Akusofu, Ph.D University Of Alaska
- Arthur G. Anderson, Ph.D, Director Of Research, IBM (retired)
- Charles R. Anderson, Ph.D Anderson Materials Evaluation
- J. Scott Armstrong, Ph.D, University Of Pennsylvania
- Robert Ashworth, Clearstack LLC
- Ismail Baht, Ph.D, University Of Kashmir
- Colin Barton Csiro (retired)
- David J. Bellamy, OBE, The British Natural Association
- John Blaylock, Los Alamos National Laboratory (retired)
- (The list includes over 85 scientists of worldwide renown.)
Footnotes
- Swanson, K.L., and A. A. Tsonis. Geophysical Research Letters, in press: DOI:10.1029/2008GL037022.
- Brohan, P., et al. Journal of Geophysical Research, 2006: DOI: 10.1029/2005JD006548. Updates at http://www.cru.uea.ac.uk/cru/data/temperature.
- Pielke, R. A. Jr., et al. Bulletin of the American Meteorological Society, 2005: DOI: 10.1175/BAMS-86-10-1481.
- Douglass, D. H., et al. International Journal of Climatology, 2007: DOI: 10.1002/joc.1651.
The Fed Is Now Scared (Cato @ Liberty)
Posted by Tom in Monetary Policy on March 27, 2009
Monetary management by the Fed must be able to handle contractions and expansions–both slopes of the business cycle. In our current down cycle the Fed is pumping money into the economy and as Don pointed out in our discussion there is little monetary velocity–little activity. As the recent gains in the stock market perhaps portend, there will eventually be an up cycle. And as we all discussed with the ballooning spending on the fiscal side, the BHO non-stimulus plan, there will be dramatic inflation with increasing monetary velocity. Debt service alone from the BHO hock-the-children plan assures that there will be no cuts in spending, no help from the fiscal side. But the Fed must attempt to control inflation by raising rates and reducing money supply. Traditionally it has sold assets to reduce money supply and increase rates. As Jerry O’Driscoll points out in his Cato post,
The Fed Is Now Scared
Bloomberg News (March 25, 2009) reported a speech by San Francisco Fed president Janet Yellen in which she called for authority for the central bank to issue its own debt. The request must have most people perplexed, especially since her rationale was delivered in Fed-speak. “Issuing such debt would reduce the volume of reserves in the financial system and push up the funds rate without shrinking the total size of our balance sheet,” Yellen said.
Actually, Yellen, who is also an economist, is addressing a very serious issue. It is one that critics of current Fed policy have been raising for some time.
The Fed is loading up its balance sheet with illiquid assets, including many dubious assets taken in as collateral for loans of money and Treasury securities to financial institutions. In the process, the Fed has an ever diminishing supply of highly liquid (and safe) Treasury securities on its own balance sheet.
Critics like economic historian Anna J. Schwartz and former Fed attorney Walker F. Todd have pointed out that the Fed will have a technical problem if it wants to start sopping up all the liquidity it has created. In a 2008 paper in International Finance, Schwartz and Todd wrote that “it is fair to ask what the Fed intends to do if it decided that it would tighten monetary policy by raising interest rates.” Without a sufficient supply of highly liquid assets to sell in the markets, the Fed would need to dispose of its illiquid assets at losses. That would possibly drive up interest rates more than desired.
Yellen’s call for the power to issue Fed debt signals a number of things. First, the Fed, contrary to recent happy talk from other officials, is worried about inflation. Second, its critics are correct that the Fed has painted itself into a corner by taking illiquid assets onto its balance sheet. Third, the Fed wants to hold those dubious assets to maturity (hence Yellen’s point about not “shrinking the total size of our balance sheet”).
Yellen’s trial balloon drew a “no comment” from the Fed’s Washington headquarters. The issue will not go away.
One logical consequence of this loss of the traditional mechanism for controlling monetary aggregates would seem to be an exacerbation of inflation at a time when it is already high or trending higher. Not a pretty picture.
Tom Motherway
Thomas Sowell Calls ‘Em What They Are, Bad Actors
Posted by Tom in Stimulus/Bailout on March 23, 2009
Sowell hits the nail on the head on the AIG bonus brouhaha: it’s really a duplicitous defense for Barney Frank and Chris Dodd. Of course our publicity seeking, come-to-me-for-everything president poured a lot of gasoline on the fire which may indeed cause a backfire.
Rep. Barney Frank has threatened to summon these executives before his committee and force them to reveal their home addresses — which would of course put their wives and children at the mercy of whatever kooks might want to literally take a shot at them.
Whatever the political or economic issues involved, this is not the way such issues should be resolved in America. We are not yet a banana republic, though that is the direction in which some of our politicians are taking us — especially those politicians who make a lot of noise about “compassion” and “social justice.”
What makes this all the more painfully ironic is that it is precisely those members of Congress who have had the most to do with creating the risks that led to the current economic crisis who are making the most noise against others, and summoning people before their committee to be browbeaten and humiliated on nationwide television.
No one pushed harder than Barney Frank to force banks and other financial institutions to reduce their mortgage-lending standards in order to meet government-set goals for more home ownership. Those lower mortgage-lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.
Sen. Christopher Dodd has played the same role in the Senate as Barney Frank played in the House of Representatives. Now both are summoning government employees and the officials of financial institutions before their committees to be lambasted in front of the media.
Dodd and Frank know that the best defense is a good offense. Both know how hard it would be to defend their own roles in the housing debacle, so they go on the offensive against others who are in no position to reply in kind, given the vindictive powers of Congress.
This political theater is in one sense cheap beyond words. In another sense, it is costly beyond words.
It is cheap because the politicians who are creating this distraction from their own role also voted for the very legislation that enabled contracted bonuses to be paid by companies like AIG that received government bailout money. If members of Congress can’t be bothered to read the laws they pass, then they have no basis for whipping up lynch-mob outrage against people who did read the law and acted within the law.
via Bad Actors by Thomas Sowell on National Review Online.
Come to think of it, there isn’t a day that I haven’s seen BHO on TV. He must be addicted!
Tom Motherway
“It’s Like Deja vu All Over Again”
Posted by Tom in Uncategorized on March 17, 2009
A friend the other day suggested a new bumper sticker, “It Took a Carter to Get a Reagan.” That made me wonder if things could possibly get that bad under BHO, will the Atlas Shrugged looters and moochers drive the producers out?
Stephen Moore, a member of the WSJ editorial board penned an excellent feature in the March issue of American Spectator which ventures some historical comparisons. I remember car pooling in California and long gas lines and stagflation. This wasn’t the depression my father lived through but it got my attention and changed my economic and political thinking for good.
Moore takes our recent economic history forward from the Kennedy era in concise political detail. It is a must read. A small excerpt follows. Hopefully the current ruling classes will learn from history, though I doubt it.
ANOTHER HUGE CARTER BLUNDER was his energy policy, even though it was his top domestic policy concern. Carter had declared that ending the energy crisis was for the nation “the moral equivalent of war.” This was an era of gasoline lines—a time when motorists would start lining up at 6 a.m. on frigid winter mornings to be first in line to fill up the tank.
Throughout the 1970s, under Nixon, Ford, and Carter, OPEC severely restricted production of oil, contributing to a big spike in the price of heating oil and gasoline. The fall in the value of the dollar—and the loss of its purchasing power—played a key and underappreciated role here as well. By the late 1970s the price of a barrel of oil had more than tripled from $10 to $32 a barrel.
Jimmy Carter was pessimistic about America’s ability to pull out of the oil price spike. Thoroughly a Malthusian, he gloomily predicted in 1977 that “we could use up all of the proven reserves of oil in the entire world by the end of the next decade.”
Political panic during his administration spawned a potpourri of crackpot responses, including gas rationing; wellhead price controls; a “gas guzzler tax” on cars; an odd-even license plate system for rotating the days of the week that Americans could fill-’er-up; a voluntary policy urging stores and public buildings to turn the thermostat to a chilly 65 degrees in winter and a sweaty 80 in summer; a windfall profits tax imposed on producers of domestic oil, so that drillers could not “profit” from the OPEC price spikes; and a $2 billion “investment” in something called the Synthetic Fuels Corporation, an alternative renewable energy boondoggle that had produced not a kilowatt of electricity by the time it was closed down in 1982.
The one policy change that was desperately needed was decontrol of oil and natural gas prices— which Ronald Reagan was calling for on the 1980 presidential campaign trail. But Carter fought the idea and denounced proposed natural gas price decontrols as “immoral and obscene.”
The effect of the Carter price control and windfall profits tax policies was that U.S. oil production fell from 11 to 9 million barrels a day from 1971 to 1980 (incredibly even as the retail price at the pump for gasoline more than tripled). Price controls made it unprofitable for domestic producers to increase output through more expensive processes, such as drilling deeper wells, fracturing, steam or water injection, offshore drilling, and so on. The other perverse effect of the price controls and profits taxes was that U.S. imports of foreign oil rose from 4 to 8.5 million barrels of oil a day from 1970 to 1977, as demand for oil rose and domestic production fell. In the final analysis, Carter’s policies led to less conservation, less domestic production, more dependence on foreign oil, and higher long-term prices.
IT WASN’T JUST HIGH ENERGY PRICES that flummoxed Jimmy Carter—the rise in all prices became an irresistible force of nature during his presidency. Carter was a convert to the Phillips Curve belief that high inflation had to be tolerated to put people to work. So even with the money supply rising by 11 percent a year in 1977, he and his cadre of economists urged the Federal Reserve Bank to lower interest rates and quicken the pace of the printing presses to push more dollars into the economy. One of his chief economic advisers, Lawrence Klein, said, “We need faster monetary growth,” even as inflation raged and monetarist economists argued just the opposite. In 1977 inflation was at an intolerable 7 percent, in 1978 it climbed to 9 percent, in 1979 it hit 12 percent, and in 1980 it shot up further to 14 percent. In 1980 the prime mortgage interest rate hit an astronomical high of 20.5 percent. The home building industry virtually shut down with interest rates that high. America was starting to resemble a Third World country in terms of monetary policy.
Carter had no solution. In 1978 he called the inflation bulge a “temporary aberration.” Then in later years when the “temporary” nature of inflation suggested that the president suffered from a detachment from reality, Carter said that inflation wasn’t his fault, but more of a moral affliction affecting American society because we had lost our capacity to “sacrifice for the common good.” He declared in one speech that it was “a myth that the government can stop inflation.” Americans scratched their heads and wondered if the Fed and Congress and the president couldn’t stop inflation, then who could?
via The American Spectator : That ’70s Horror Show.
Tom Motherway
Peak Oil Is Real
Posted by Tom in Energy Facts & Policies on March 16, 2009
Don Parsons gave excellent summation and lead our discussion of worldwide oil geology, formation, and production.
Oil is our transportation fuel accounting for over 90% of transportation’s source of energy; it is transportable, safe, storable and has a high BTU content. But we are consuming more than we are producing and we are not discovering enough to replace what we use. The largest fields, the most productive, are on steep decline curves. Small discoveries will not replace large declining fields. Governmental oil companies are poorly run and used for political ends. Expensive exploration and recovery, mainly offshore, is not supported by current crude prices.
In short we are running out of oil at an accelerating rate. Can we replace it or find a safe, economically stable alternative in the reasonable future? Are government policies and proposed policies positive or negative?
Discussion of safe alternatives yielded little hope. CNG, LNG, Hydrogen, Solar, etc. are not practical replacements on a worldwide scale. Policy thoughts, like a fluctuating tax going to producers to support a floor price and thus encourage new exploration, production technology, and alternatives, has not effectively been raised by our political leaders. The CO2 religious panic and cap and trade solutions do no more than to distract serious thought on the subject.
The effect of low prices has been to decrease exploration. Refining margins have also been cut to the point of discussions of alternative uses of refineries such as storage. Practically companies can’t shut down a refinery because of the exorbitant remediation costs. Ironically, they will not be able to build them domestically because of the environmental study costs and the NIMBY local attitudes.
Yes, the Bakken Formation was discussed and it is included in the peak oil known reserves. So this provides little solace, save the fact that it is in the continental US.
A U.S. Geological Survey assessment, released April 10, shows a 25-fold increase in the amount of oil that can be recovered compared to the agency’s 1995 estimate of 151 million barrels of oil………
The Bakken Formation estimate is larger than all other current USGS oil assessments of the lower 48 states and is the largest “continuous” oil accumulation ever assessed by the USGS. A “continuous” oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences. The next largest “continuous” oil accumulation in the U.S. is in the Austin Chalk of Texas and Louisiana, with an undiscovered estimate of 1.0 billions of barrels of technically recoverable oil.
“Gran Torino” All Over Again
Posted by Tom in Uncategorized on March 16, 2009
“My Real Time With Bill Maher” is a brilliant call to arms by Andrew Breitbart. The media and educational establishments are controlled the leftists and they are ugly and intolerant bunch. These two characteristics have not been well illustrated to the general public. In fact, conservatives have often been painted with them.
So to overcome the ignorance foisted by TV comedians, tenured professors and mainstream media “journalists” we must first show up, we must advance positive solutions showing the advantage of conservative values, and we must politely and respectfully engage or attempt to engage in intelligent discussion. If we get hammered, booed, shouted down, etc., all the better, for we will have won the first battle.
Subsequent battles will be easier and will tend to be more focused on issues. It is there that the conservative appeal lies.
I’m reminded of the last scene of “Gran Torino” in which Clint Eastwood reaches for his cigarette lighter for the last time . As the audience wiped tears away, there was a collective sense that Clint had won. We can also win, if we engage.
Pretty much everyone I respect in media and politics recommended I not go on HBO’s “Real Time With Bill Maher.” But on Friday night, I defied that wisdom and had the time of my life.
I sparred with Mr. Maher, Georgetown professor Michael Eric Dyson and a MoveOn.org audience from hell that booed my sentences before they were completed. Unfortunately, my wife and in-laws, who watched from the green room, were not as enamored with the experience as I was.
Since the salad days of ABC’s “Politically Incorrect,” which minted countless right-wing pundits and best-selling authors, conservatives have rightly assessed the HBO version of the Maher show as R-rated and shockingly hostile to their worldview. So most opt out.
I totally see why. But I think that’s exactly the wrong strategy.
The problem with the withdrawal approach is that it cedes the popular culture debate to the other side. We figure talk radio, a certain cable news network and some independent Internet venues will allow for us to get our ideas out to the masses. Well, those few outlets are greatly outnumbered. They are also isolated and targeted for destruction by the activist left. The sitting president (using taxpayer money) is now leading the charge.
via RealClearPolitics – Articles – My Real Time With Bill Maher.
Tom Motherway
What Energy Subsidies Are Economically Justified?
Posted by Tom in Energy Facts & Policies on March 15, 2009
What is the legitimate cost of energy independence? Who will pay it? Is it efficient? What are its unintended consequences? All are questions that aren’t being asked or considered.
Seldon Graham’s March 13th article in American Thinker give us a good start on the search for correct answers
President Obama’s biofuel and oil policy is on a collision course to a national catastrophe. Yet, the alarms are not sounding and the red lights are not flashing.
Secretary of Energy Steven Chu is not warning Obama that his oil policy will increase our dependence on foreign oil. Lisa Jackson, Administrator of the Environmental Protection Administration, is not alerting the President that his oil policy will increase carbon dioxide emissions. National Security Advisor James L. Jones is not cautioning the President that his biofuel and oil policy increases the US vulnerability to a Second Arab Oil Embargo. Christina Roner of the Council of Economic Advisors is not counseling Obama that his biofuel policy continues a 30-year-old blunder wasting taxpayers multiple billions of dollars annually. Secretary of Agriculture Tom Vilsack is not warning the President that his biofuel policy is doomed to failure because of the impossibility of providing sufficient bio products. Secretary of the Interior Ken Salazar is not advising Obama that his tax on oil will destroy proven US oil reserves.
Why aren’t the alarms sounding and the red lights flashing? It is probably because of the lack of knowledge and experience on these specific subjects by the new appointees. All must be given benefit of any doubt that their duty and loyalty lies with the United States of America instead of their political party or its head.
President Obama’s energy policy is to eliminate our dependence on foreign oil imports by eliminating oil and replacing oil with alternative renewable “clean” biofuel. That sounds good in speeches. It is quite impressive to all those who know little about oil or biofuels, which includes the majority of the public. The devil, of course, is in the details which no one seems to have investigated.
via American Thinker: Obama’s energy policy will increase dependence on foreign oil.