Posted on 07/12/2010 3:30:49 PM PDT by BCrago66
The economic damage from the BP Plc spill in the Gulf of Mexico will be dwarfed by the Obama administration’s moratorium on deep-water drilling, the chief executive officer of a New Orleans business group said.
The six-month drilling ban, which the U.S. Interior Department revised today following lawsuits from local businesses, may affect as many as 24,000 jobs in Louisiana, Michael Hecht, president and CEO of economic-development group Greater New Orleans Inc., told a presidential commission today.
(Excerpt) Read more at businessweek.com ...
All according to plan.
Why of course it will. God forbid Obama do something sensible.
The EPA (Lisa Johnson) which approved the toxic Corexits use in the Gulf, also just denied renewal permits for 122 refineries in TX for not following CO2 reductions, even though the technology to do so does not exist yet. These refineries represent 29%!!! of our national refining capacity.
Feds Gone Wild!!
This is a break-down in the rule of law. While the industry prevails on the legal arguments and keeps winning in court, all the Obama administration needs to do is say aloud, “Hey, maybe we’ll seek ANOTHER moratorium,” and that’s sufficient to create business uncertainty, chase away investors, and sends the drilling rigs - and US jobs - across the ocean.
And where there might be some justification for this degree hyper-regulation - and this degree of discretion by the regulators - with regard to potentially catastrophic activities such as offshore drilling, the problem is that this kind of lawless regulation-by-threat is suffered by so many non-dangerous American industries.
“This is a break-down in the rule of law.”
Absolutely. I view the spill as a major disaster which will devastate the economies of the gulf states. It will also cause significant damage to beaches, wetlands and wildlife.
BO is causing more damage than the spill. His administration is also responsible for the spill happening through lack of enforcement of existing regulations.
EPA shuts down 33% of US refining capacity!!
The list, ping
But it is nothing new for the Leftists to cripple large capital key economic development with endless threat of legal and economic uncertainty.....
.....They have done it for years, having killed development of privately funded mining, power, and nuclear power projects.
It has been a slow-motion strangulation in the works for 30 years or more brought on by legislative and court ruling uncertainty.
The big difference is that now we have an anti-American Thug in the WH who has taken off the brakes and is moving full throttle into the train wreck ahead.
WHAT rule of law? We've had nothing but empty formalities fpr some time now.
America -- a great idea, didn't last.
All by design, my FRiend. All by design.
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