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Tuesday, June 15, 2010

President Obama Speaks to the Nation Tonight...

Washington says he will announce an Administration demand for a special escrow fund from BP. The fund will be made available for spill clean-up as determined and administered by the government. Some democratic senators have already floated a number of $20 billion. According to reports, the fund will also support oil patch workers put out of work by the Administration's moratorium on oil exploration and drilling; of course, there is no way BP will pay for employees put out of work by the Administration.

If this isn't the ballsiest power grab ever. First he tried to get Hayward fired. Then he tried to get corporate dividends revoked. Now he wants to run $20 billion of the company's assets. Maybe he's onto something. BP has single-handedly improved the U.S. unemployment numbers and increased the nation's GDP. It has made the U.S. economic recovery look better. Sure it's a foreign corporation but what the hell? Even with an historic spill on its plate, it's doing better than Chrysler.

Everywhere you turn, Administration officials are bad-mouthing and rebuking BP. BP, on the other hand, is staying quiet. But just wait. When the leak is sealed and oil is being cleaned-up at a faster rate, when people are getting back to work and things finally settle down (I'm trying to be optimistic); when the media focuses more on the Korean peninsula and the Administration's revocation of sanctions against Syria (what's next? Iran?), analysts will scour this Administration's response to the crisis and learn the truth,which is:

This is a government of thinkers and planners and ideologues, a government of knee-jerk socio-political engineers.

What have they done to date that has for certain improved our lives? Other than extending employment benefits over and over and over again, which, by the way, they intend to do again with money raided from the new BP Crisis Escrow Fund.

~seabgb

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