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 Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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 BB&T chairman & CEO Kelly King on Europe's banking crisis 
#15063667 - 09/11/11 07:01 PM (1 year, 8 months ago) |
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I found an interesting video about Kelly King on CNBC. He says the crisis probably isn't as bad as a lot of people think. Also, he says a lot of things about Obummer, like getting rid of him to help the economy.
http://video.cnbc.com/gallery/?video=3000039509
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15066279 - 09/12/11 05:35 AM (1 year, 8 months ago) |
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Must see video! Obummer and his commie cronies want to cut 4 million more jobs.
Vote Republican or suffer years of torment, hardship and disgrace as you spiral down to your death from your shocking failure and extreme poverty.
http://video.cnbc.com/gallery/?video=3000005106
http://www.discovery.org/v/30
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meams
Blessed
Registered: 01/11/05
Posts: 17,494
Loc: In a Tree
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15068222 - 09/12/11 04:38 PM (1 year, 8 months ago) |
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Quote:
Obummer and his commie cronies
With verbage like that, the only peopel who are going to read your partisan dribble are people who are already devoted to your cause. Independent individuals see key phrasings like that and ignore whatever follows.
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: meams]
#15073842 - 09/13/11 05:58 PM (1 year, 8 months ago) |
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Does this hurt your feelings, too?
Start watching at the 5:28 mark for H. Wayne Huizenga's remarks on Obummer. The first half of this video he talks about his new business venture.
http://video.cnbc.com/gallery/?video=1570610659
Former Congressman says Obama is more dangerous than al-Qaeda
http://www.digitaljournal.com/article/294443
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15117783 - 09/22/11 05:27 PM (1 year, 7 months ago) |
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A Jobs Bill That Boggles the Mind
The president worries about the fiscal misfortunes of local governments, then proposes a plan to penalize municipal bond buyers.
By HARVEY GOLUB
When President Obama first started talking about a "jobs bill," my initial reaction was one of amazement. He apparently has not learned from the failure of his first trillion-dollar stimulus package that no amount of government spending will achieve self-sustaining economic growth in light of his administration's antigrowth policies.
And what exactly are those polices? First and foremost, the president has promised to raise tax rates on the "millionaires" making more than $250,000 per household. Meanwhile, he's ignored entitlement reform, retarded the development of our energy resources, and added new layers to our regulatory burden. He's also increased the uncertainty inherent in an already dysfunctional and perverse tax code, added trillions to our national debt, spent taxpayer money ineffectively and inefficiently, tried to micromanage the economy, and acted as an incompetent venture capitalist by investing in "green jobs" and high-speed rail.
This administration routinely grants and withholds favors by substituting its judgment of what is valuable and good for that of the people. What stimulus spending can do to create jobs is entirely temporary, whether in the public or private sector, and is rooted only in a political calculus.
When I read the president's jobs program, my concern deepened as I realized that his whole approach is a metaphor for the broader Obama economic plan. For example, on the one hand he wants to devote almost half the $475 billion in additional federal spending to states, as he says, to employ teachers, policemen and firefighters and refurbish or build some new infrastructure that states have already decided they don't need or have deemed a low priority.
On the other hand, the bill will add billions of dollars per year to state and local government expenditures by reducing the tax benefit of state and municipal bond issues for taxpayers earning more than $250,000 per year. In total these bonds represent $2.5 trillion in outstanding bonds, with billions more issued each year.
The president obviously believes that tax-free bonds are a benefit to the buyers when, in reality, the benefit accrues entirely to the municipalities that issue the bonds. Because the bonds are tax-free, the issuers pay a lower interest rate—by an amount almost exactly equal to the tax benefit. By reducing the benefit, municipalities will be forced to pay significantly higher rates, increasing their annual debt-service cost. And, since high earners comprise only about one third of the owners of these bonds, lower-rate taxpayers will receive an added benefit from the higher interest paid. In effect, the municipalities will pay more in interest than the federal government will receive in tax payments.
Investors in new bond issues will be unaffected. Those investors that have portfolios of municipal bonds will switch to high-grade corporates or pay the tax from the higher interest payments they'll receive. All of the supposed increase in tax payments from this plan will simply be a transfer from municipal and state governments to the federal government through the hands of investors.
The president also wants these reduced tax benefits to apply to existing bonds, bought under the assumption of receiving the higher tax benefits. It is not very often that higher taxes are applied retroactively, but this will be one of those times. As a result, existing bondholders will see the value of their municipal bonds decline substantially based on the lower tax benefits.
The interesting questions for me are: Did anyone on his economic staff, at Treasury, or at the Office of Management and Budget tell him about this? Did he even ask?
From my perspective, interest on municipal debt should have no tax-free benefits at all. Municipalities should pay market rates based on their credit-worthiness and individuals should pay taxes on the interest just as they do when they buy corporate bonds. The current system, in effect, subsidizes heavy issuers of bonds at the expense of states that issue bonds at more modest levels. If the true cost of borrowing were reflected in the interest rates, these local and state entities may moderate their spending levels. But if the president wants to count this as a tax savings, let's make the change in the context of a far broader reform of the tax code and do so prospectively.
From green jobs to "cash for clunkers," many of us have suspected that economic illiterates were setting the economic policy of this administration. The president's jobs plan proves the point. That the president could wail about the misfortunes of municipalities and argue that the federal government urgently needs to send cash, and then simultaneously propose a change in the tax treatment of municipal bonds that takes the cash back, reveals a depth of cluelessness that boggles the mind.
Mr. Golub, a former chairman and CEO of American Express, is the chairman of Miller Buckfire and serves on the executive committee of the American Enterprise Institute.
http://online.wsj.com/article/SB10001424053111904194604576581070696002588.html
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15117820 - 09/22/11 05:33 PM (1 year, 7 months ago) |
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The Bush bashing Eurosocialists are getting punished as their welfare states collapse around them.
Quote:
There is no one to blame for Europe’s debt crisis other than its political class. They are the ones who borrowed extravagantly with the pretense that good intentions trumped fiscal responsibility, who set the rules that require banks to hold zero capital against government debt, and who permitted the European Central Bank to buy billions of euros of that debt from banks. That has endangering the euro itself, which has fallen 20% against gold since the beginning of the year, signaling that higher inflation and increased economic turmoil in the euro-zone may lie ahead.
In the absence of the next, 8 billion euro loan from its European partners and the IMF, the Greek government will soon simply run out of money to pay public sector wages and pensions. That reality last week triggered a run by dollar depositors on European banks with exposure to government debt prompting the U.S. Federal Reserve to make emergency loans to the European Central bank so it, in turn, could provide dollar liquidity to its member banks.
There appears to be no way out.
Quote:
Unsaid is the concern that Europe’s failure will tarnish America’s governing elite, providing additional energy to the Tea Party’s call for restoring limited, constitutional government in the U.S.
http://www.forbes.com/sites/charleskadlec/2011/09/19/greece-and-the-crisis-of-the-governing-elite/#comment-310
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15129022 - 09/24/11 09:14 PM (1 year, 7 months ago) |
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Obama tells Students: "It's true I'm not American"... " I come from KENYA"
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Icelander
The Minstrel in the Gallery
Registered: 03/15/05
Posts: 79,881
Loc: underbelly
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15130913 - 09/25/11 09:26 AM (1 year, 7 months ago) |
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Vote Republican or suffer years of torment, hardship and disgrace as you spiral down to your death from your shocking failure and extreme poverty.
Not likely, my money grows no matter which  is in power.
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"Hang on tightly, let go lightly" -anonymous
“under the present brutal and primitive conditions on this planet, every person you meet should be regarded as one of the walking wounded. we have never seen a man or woman not slightly deranged by either anxiety or grief. we have never seen a totally sane human being.”
― Robert Anton Wilson
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Icelander]
#15137715 - 09/26/11 06:47 PM (1 year, 7 months ago) |
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US politics does affect Iceland.
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15145505 - 09/28/11 05:34 AM (1 year, 7 months ago) |
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Inside the EPA
Memos show that even other regulators worry about its rule-making.
The Environmental Protection Agency claims that the critics of its campaign to remake U.S. electricity are partisans, but it turns out that they include other regulators and even some in the Obama Administration. In particular, a trove of documents
uncovered by Congressional investigators reveals that these internal critics think the EPA is undermining the security and reliability of the U.S. electric power supply.
With its unprecedented wave of rules, the EPA is abusing traditional air-quality laws to force a large share of the coal-fired fleet to shut down. Amid these sacrifices on the anticarbon altar, Alaska Republican Lisa Murkowski and several House committees have been asking, well, what happens after as much as 8% of U.S. generating capacity is taken off the grid?
A special focus of their inquiry has been the Federal Energy Regulatory Commission, or FERC, which since 2005 has been charged with ensuring that the (compact florescent) lights stay on. That 8% figure comes from FERC itself in a confidential
2010 assessment of the EPA's regulatory bender—or about 81 gigawatts that FERC's Office of Electric Reliability estimated is "very likely" or "likely" to enter involuntary retirement over the next several years. FERC disclosed the estimate in
August in response to Senator Murkowski's questions, along with a slew of memos and emails.
FERC Chairman Jon Wellinghoff, a Democrat, has since disavowed the study as nothing more than back-of-the-envelope scribblings that are now "irrelevant," as he told a recent House hearing. OK, but then could FERC come up with a relevant number? Since he made the study public, Mr. Wellinghoff has disowned responsibility for scrutinizing the EPA rules and now says that FERC will only protect electric reliability ex post facto once the rules are permanent, somehow.
This abdication is all the more striking because the documents show that EPA's blandishments about reliability can't be trusted. In its initial 2010 analysis—a rigorous document—FERC notes in a "next steps" section that the reliability office
and industry must "assess the reliability and adequacy impacts of retirement of at risk units." In part, this was because the office believed the EPA analyses to be deficient. One undated memo specifies multiple weaknesses in EPA reliability
modelling.
However much power is lost, whether 81 gigawatts or something else, the electric grid is highly local. Even subtracting a small plant could have much larger effects for regions, such as blackouts. The older and less efficient coal plants that are slated for closure are often the crucial nodes that connect the hubs and spokes of the grid. If these "sensitive" interconnections are taken out, as the memo puts it, the power system becomes less stable, harder to manage and may not be able to meet peak-load demand or withstand unexpected disturbances.
When large swaths of Arizona, New Mexico and parts of southern California including San Diego went dark this month, preliminary reports blamed it on a Homer Simpson who flipped the wrong switch. But the incident shows that even minor mistakes or degraded systems can ramify throughout the grid. The EPA scanted these technical, regional issues when writing the rules, even though another "summary of interagency working comments" within the Administration explicitly told the EPA that reliability needed "more discussion."
And according to the FERC minutes of a 2010 meeting between its reliability office and the EPA, EPA staffers waved off those concerns. "The EPA concluded the discussion by stating that it felt the Clean Air Transport Rule and Mercury MACT rule"—two of the most destructive new regulations—"were the highest priority given that these regulations were more finalized." In other words, the agency's green political goals are more important than the real-world outcomes, never mind the danger.
For our part, we've opposed this "highest priority" because the rules are written in a way that maximizes the economic costs, with terrible effects on growth, hiring, investment and consumer prices. And well, well: More than a few people in the Administration seem to agree.
The interagency memo explains that the EPA used its "discretion" to structure one rule so that it is more "stringent" than it needs to be. The agency could achieve the same environmental benefits with "substantial" cost-savings, which "would be far more preferable to the proposed approach," says the memo. It sensibly adds that, "The current economic climate dictates a balancing of economic and environmental interests."
Under pressure from Democrats and the EPA to disavow his own agency's analysis, Mr. Wellinghoff now says that FERC favors only a "safety valve" that would give it the authority to overrule the EPA on a case-by-case basis if its regulations might lead to blackouts. But even this is a tacit admission of EPA's overkill. You don't need a safety valve if there isn't a threat to safety.
The best option would be for the EPA to write less destructive rules that don't jeopardize reliability in the first place. Failing that, we should at least know the risks before it is too late. In a letter to Mr. Wellingoff last week, Mrs. Murkowski simply asks that FERC undertake some kind of study of the EPA's agenda in line with its statutory obligations and the warnings of its own experts. If FERC won't do it,
someone else should.
http://online.wsj.com/article/SB10001424053111904194604576582814196136594.html
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Icelander
The Minstrel in the Gallery
Registered: 03/15/05
Posts: 79,881
Loc: underbelly
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15146336 - 09/28/11 11:48 AM (1 year, 7 months ago) |
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Quote:
Luddite said:
US politics does affect Iceland.
 I live in Oregon.
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"Hang on tightly, let go lightly" -anonymous
“under the present brutal and primitive conditions on this planet, every person you meet should be regarded as one of the walking wounded. we have never seen a man or woman not slightly deranged by either anxiety or grief. we have never seen a totally sane human being.”
― Robert Anton Wilson
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Icelander]
#15182039 - 10/05/11 05:51 PM (1 year, 7 months ago) |
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How North Dakota Became Saudi Arabia
Harold Hamm, discoverer of the Bakken fields of the northern Great Plains, on America's oil future and why OPEC's days are numbered.
By STEPHEN MOORE
Harold Hamm, the Oklahoma-based founder and CEO of Continental Resources, the 14th-largest oil company in America, is a man who thinks big. He came to Washington last month to spread a needed message of economic optimism: With the right set of national energy policies, the United States could be "completely energy independent by the end of the decade. We can be the Saudi Arabia of oil and natural gas in the 21st century."
"President Obama is riding the wrong horse on energy," he adds. We can't come anywhere near the scale of energy production to achieve energy independence by pouring tax dollars into "green energy" sources like wind and solar, he argues. It has to come from oil and gas.
You'd expect an oilman to make the "drill, baby, drill" pitch. But since 2005 America truly has been in the midst of a revolution in oil and natural gas, which is the nation's fastest-growing manufacturing sector. No one is more responsible for that resurgence than Mr. Hamm. He was the original discoverer of the gigantic and prolific Bakken oil fields of Montana and North Dakota that have already helped move the U.S. into third place among world oil producers.
How much oil does Bakken have? The official estimate of the U.S. Geological Survey a few years ago was between four and five billion barrels. Mr. Hamm disagrees: "No way. We estimate that the entire field, fully developed, in Bakken is 24 billion barrels."
If he's right, that'll double America's proven oil reserves. "Bakken is almost twice as big as the oil reserve in Prudhoe Bay, Alaska," he continues. According to Department of Energy data, North Dakota is on pace to surpass California in oil production in the next few years. Mr. Hamm explains over lunch in Washington, D.C., that the more his company drills, the more oil it finds. Continental Resources has seen its "proved reserves" of oil and natural gas (mostly in North Dakota) skyrocket to 421 million barrels this summer from 118 million barrels in 2006.
"We expect our reserves and production to triple over the next five years." And for those who think this oil find is only making Mr. Hamm rich, he notes that today in America "there are 10 million royalty owners across the country" who receive payments for the oil drilled on their land. "The wealth is being widely shared."
One reason for the renaissance has been OPEC's erosion of market power. "For nearly 50 years in this country nobody looked for oil here and drilling was in steady decline. Every time the domestic industry picked itself up, the Saudis would open the taps and drown us with cheap oil," he recalls. "They had unlimited production capacity, and company after company would go bust."
Today OPEC's market share is falling and no longer dictates the world price. This is huge, Mr. Hamm says. "Finally we have an opportunity to go out and explore for oil and drill without fear of price collapse." When OPEC was at its peak in the 1990s, the U.S. imported about two-thirds of its oil. Now we import less than half of it, and about 40% of what we do import comes from Mexico and Canada. That's why Mr. Hamm thinks North America can achieve oil independence.
The other reason for America's abundant supply of oil and natural gas has been the development of new drilling techniques. "Horizontal drilling" allows rigs to reach two miles into the ground and then spread horizontally by thousands of feet. Mr. Hamm was one of the pioneers of this method in the 1990s, and it has done for the oil industry what hydraulic fracturing has done for natural gas drilling in places like the Marcellus Shale in the Northeast. Both innovations have unlocked decades worth of new sources of domestic fossil fuels that previously couldn't be extracted at affordable cost.
Mr. Hamm's rags to riches success is the quintessential "only in America" story. He was the last of 13 kids, growing up in rural Oklahoma "the son of sharecroppers who never owned land." He didn't have money to go to college, so as a teenager he went to work in the oil fields and developed a passion. "I always wanted to find oil. It was always an irresistible calling."
He became a wildcat driller and his success rate became legendary in the industry. "People started to say I have ESP," he remarks. "I was fortunate, I guess. Next year it will be 45 years in the business."
Mr. Hamm ranks 33rd on the Forbes wealth list for America, but given the massive amount of oil that he owns, much still in the ground, and the dizzying growth of Continental's output and profits (up 34% last year alone), his wealth could rise above $20 billion and he could soon be rubbing elbows with the likes of Warren Buffett.
His only beef these days is with Washington. Mr. Hamm was invited to the White House for a "giving summit" with wealthy Americans who have pledged to donate at least half their wealth to charity. (He's given tens of millions of dollars already to schools like Oklahoma State and for diabetes research.) "Bill Gates, Warren Buffett, they were all there," he recalls.
When it was Mr. Hamm's turn to talk briefly with President Obama, "I told him of the revolution in the oil and gas industry and how we have the capacity to produce enough oil to enable America to replace OPEC. I wanted to make sure he knew about this."
The president's reaction? "He turned to me and said, 'Oil and gas will be important for the next few years. But we need to go on to green and alternative energy. [Energy] Secretary [Steven] Chu has assured me that within five years, we can have a battery developed that will make a car with the equivalent of 130 miles per gallon.'" Mr. Hamm holds his head in his hands and says, "Even if you believed that, why would you want to stop oil and gas development? It was pretty disappointing."
Washington keeps "sticking a regulatory boot at our necks and then turns around and asks: 'Why aren't you creating more jobs,'" he says. He roils at the Interior Department delays of months and sometimes years to get permits for drilling. "These delays kill projects," he says. Even the Securities and Exchange Commission is now tightening the screws on the oil industry, requiring companies like Continental to report their production and federal royalties on thousands of individual leases under the Sarbanes-Oxley accounting rules. "I could go to jail because a local operator misreported the production in the field," he says.
The White House proposal to raise $40 billion of taxes on oil and gas—by excluding those industries from credits that go to all domestic manufacturers—is also a major hindrance to exploration and drilling. "That just stops the drilling," Mr. Hamm believes. "I've seen these things come about before, like [Jimmy] Carter's windfall profits tax." He says America's rig count on active wells went from 4,500 to less than 55 in a matter of months. "That was a dumb idea. Thank God, Reagan got rid of that."
A few months ago the Obama Justice Department brought charges against Continental and six other oil companies in North Dakota for causing the death of 28 migratory birds, in violation of the Migratory Bird Act. Continental's crime was killing one bird "the size of a sparrow" in its oil pits. The charges carry criminal penalties of up to six months in jail. "It's not even a rare bird. There're jillions of them," he explains. He says that "people in North Dakota are really outraged by these legal actions," which he views as "completely discriminatory" because the feds have rarely if ever prosecuted the Obama administration's beloved wind industry, which kills hundreds of thousands of birds each year.
Continental pleaded not guilty to the charges last week in federal court. For Mr. Hamm the whole incident is tantamount to harassment. "This shouldn't happen in America," he says. To him the case is further proof that Washington "is out to get us."
Mr. Hamm believes that if Mr. Obama truly wants more job creation, he should study North Dakota, the state with the lowest unemployment rate in the nation at 3.5%. He swears that number is overstated: "We can't find any unemployed people up there. The state has 18,000 unfilled jobs," Mr. Hamm insists. "And these are jobs that pay $60,000 to $80,000 a year." The economy is expanding so fast that North Dakota has a housing shortage. Thanks to the oil boom—Continental pays more than $50 million in state taxes a year—the state has a budget surplus and is considering ending income and property taxes.
It's hard to disagree with Mr. Hamm's assessment that Barack Obama has the energy story in America wrong. The government floods green energy—a niche market that supplies 2.5% of our energy needs—with billions of dollars of subsidies a year. "Wind isn't commercially feasible with natural gas prices below $6" per thousand cubic feet, notes Mr. Hamm. Right now its price is below $4. This may explain the administration's hostility to the fossil-fuel renaissance.
Mr. Hamm calculates that if Washington would allow more drilling permits for oil and natural gas on federal lands and federal waters, "I truly believe the federal government could over time raise $18 trillion in royalties." That's more than the U.S. national debt, I say. He smiles.
This estimate sounds implausibly high, but Mr. Hamm has a lifelong habit of proving skeptics wrong. And even if he's wrong by half, it's a stunning number to think about. So this America-first energy story isn't just about jobs and economic revival. It's also about repairing America's battered balance sheet. Someone should get this man in front of the congressional deficit-reduction supercommittee.
http://online.wsj.com/article_email/SB10001424052970204226204576602524023932438-lMyQjAxMTAxMDMwMDEzNDAyWj.html
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15187474 - 10/06/11 06:31 PM (1 year, 7 months ago) |
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The heat is on Congress to stop Obama
By: Phil Kerpen | 10/05/11 8:05 PM
OpEd Contributor
Second of a three-part excerpt series
President Obama's relentless pursuit of extreme global warming regulations is perhaps the clearest example of his disregard for our constitutional system of separation of powers and democratic accountability.
One of Obama's top priorities after taking office was to impose a national cap-and-trade scheme to ration energy use. Obama explained how the system would work in a meeting with the San Francisco Chronicle editorial board during the 2008 campaign: "Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket."
The political "innovation" of the cap-and-trade scheme is that instead of levying a tax directly, it puts a cap on overall greenhouse gas emissions, and establishes a market for companies to buy and sell emission permits.
The overall effect is the same -- if a company wants to emit more carbon dioxide, it must pay more. So it's a tax with the added uncertainty of a rate that's unknown and set at auction.
I don't often agree with MoveOn.org, but on April 17, 2009, the organization sent out an urgent fundraising alert to try to save cap-and-trade that got it exactly right.
MoveOn.org's Adam Ruben said in the email: "If Republicans convince voters that clean-energy legislation amounts to a new tax, Obama's plan is toast."
Of course, it was a tax. And it was toast. Enough Americans broke the code, with the help of those of us who weren't going to let the Obama administration impose a nearly $1 trillion stealth tax on an already overburdened economy.
Cap and trade was utterly buried in the 2010 election but, incredibly, Obama and his appointees at the U.S. Environmental Protection Agency are attempting to revive this nefarious scheme.
But this time they are trying to hide it even further from taxpayers' eyes and the democratic process by using an administrative agency to impose the regime, instead of following the legislative process described by the Constitution.
Obama's EPA was already moving full-steam ahead to implement a global warming regulatory scheme that could be even more costly than cap and trade -- without the approval of the American people and without so much as a vote in Congress.
On Dec. 7, 2009 the EPA issued a so-called "endangerment finding" for greenhouse gases, paving the way for onerous greenhouse gas regulations to be shoehorned into the 1970 Clean Air Act, despite the fact that Congress had considered -- and decisively rejected -- adding such regulations in 1990, when the Clean Air Act was amended.
It is such an ill-fitting vehicle to address greenhouse gases that in order for this strategy to succeed, the EPA must, illegally, rewrite the law to suit its purposes.
Through his mandate to the EPA, Obama himself has confirmed that, from his perspective, the resounding wishes of the American people on this issue are irrelevant.
This is what he said about EPA, underscoring that he still very much intends to make energy prices skyrocket, if not by cap and trade then by other means:
"Cap and trade was just one way of skinning the cat; it was not the only way. It was a means, not an end. And I'm going to be looking for other means."
As citizens, we are responsible to change the political dynamic. Structural reforms can improve the system, but ultimately it is up to voters to change the politics of executive power by making clear to Congress that failure to stop the executive branch will have serious political repercussions.
We must have a constant drumbeat, a unified message to each member of Congress: your job is to stop these outrageous EPA power grabs that threaten to destroy the U.S. economy and millions of jobs.
If you are unable or unwilling to do that, we will elect someone who will.
?
Phil Kerpen is vice president for policy at Americans for Prosperity and author of "Democracy Denied: How Obama is Ignoring You and Bypassing Congress to Radically Transform America - and How to Stop Him." It is available at www.DemocracyDenied.org.
http://washingtonexaminer.com/opinion/op-eds/2011/10/heat-congress-stop-obama
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15367971 - 11/14/11 05:41 AM (1 year, 6 months ago) |
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More must see videos! A former Marxist sees the light!
http://www.humanevents.com/UncommonKnowledge.php
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15420956 - 11/25/11 09:15 AM (1 year, 5 months ago) |
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15420959 - 11/25/11 09:15 AM (1 year, 5 months ago) |
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Who's to Blame for High Gas Prices?
Share Post PrintJune 6, 2008 Posted by John at 4:43 PM
For several decades, the Democratic Party has pursued policies designed to drive up the cost of petroleum, and therefore gas at the pump. Remarkably, the Democrats don't seem to have taken much of a political hit from the current spike in gas prices. Probably that's because most people don't realize how different the two parties' energy policies have been.
Congressman Roy Blunt put together these data to highlight the differences between House Republicans and House Democrats on energy policy:
ANWR Exploration House Republicans: 91% Supported House Democrats: 86% Opposed
Coal-to-Liquid
House Republicans: 97% Supported
House Democrats: 78% Opposed
Oil Shale Exploration
House Republicans: 90% Supported
House Democrats: 86% Opposed
Outer Continental Shelf (OCS) Exploration
House Republicans: 81% Supported
House Democrats: 83% Opposed
Refinery Increased Capacity
House Republicans: 97% Supported
House Democrats: 96% Opposed
SUMMARY
91% of House Republicans have historically voted to increase the production of American-made oil and gas.
86% of House Democrats have historically voted against increasing the production of American-made oil and gas.
PAUL adds: It's useful to keep this sort of thing in mind when we hear (on something like a daily basis these days) that the Republicans have run out of ideas or that Republican ideas didn't work. The truth is that most major Republican ideas weren't tried because the Democrats blocked them. Increasing the domestic production of oil and gas (a move so obvious it barely meets the standard for being an idea) is hardly the only example. Social security reform and school choice also come quickly to mind. Republican-backed policies for increasing the number of Americans with health insurance were also blocked by Democrats. And so forth.
http://web.archive.org/web/20090327144836/http://www.powerlineblog.com/archives/2008/06/020696.php
http://www.powerlineblog.com/archives2/2008/06/020696.php
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Luddite
cognitive dissident
Registered: 03/23/06
Posts: 2,454
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Re: BB&T chairman & CEO Kelly King on Europe's banking crisis [Re: Luddite]
#15484280 - 12/08/11 05:43 AM (1 year, 5 months ago) |
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Giuliani: The President is Ignorant of Economics
http://video.cnbc.com/gallery/?video=3000061110
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