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Wednesday, June 16, 2010

Does Obama Have A Clue...

...as to how much economic damage his ban on offshore oil drilling can cause?

From Yid With Lid:
According to the Wood Mackenzie Research and Consulting show the six month moratorium will result in the following consequences:
* The 33 drilling platforms which support some 1,400 workers, offshore and onshore will be forced to shut down

* As many as 46,200 jobs could be idled by the moratorium

* These are well-paying jobs – $5-10 million per month, per platform in lost wages

* Long-term job losses as a result of the moratorium could reach 120,000 by 2014

* The State of Louisiana estimates that the deep-water drilling suspension will result in a loss of 3,000-6,000 in-state jobs in the first 2-3 weeks and potentially more than 20,000 Louisiana jobs within the next 12-18 months. Louisiana estimates that if the suspension of deep-water drilling activity continues for long period, the state could lose more than $20,000 in the next 12-18 months.
Furthermore:
[P]reventing offshore oil exploration makes the US more dependent on foreign oil and reduces state revenue during a time when states have an “over-spending” problem...
As Yid With Lid commented:
So if his freeze is hurting the economy why is the President going ahead with the freeze? I submit to you that he doesn't know what else to do. The president has been running the country be finding scape goats. During the porkulus it was the likes of Rush Limbaugh, for cap and trade it was big oil, then the health care bill came up and it was those evil insurance companies followed by those big bad banks. This is a president who doesn't know how to lead only knows how to tear things down. Now the evil ones are BP, Big Oil, off shore drilling and anyone who thinks global warming is a fraud. This president does not know how to lead, to build a consensus, to get people behind a program, sadly all he knows how to do, is to create barriers and call people names.
The Obama administration is an epic fail. Can America survive this failure?

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1 Comments:

Anonymous revereridesagain said...

Someone commented on the radio today that the fishing industry in Louisiana is about 1-3% of the economy, and the petroleum industry about 16%. But there's no photo op in oily oil rig workers even when they're out of work.

Wednesday, June 16, 2010 11:43:00 pm  

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