November 27, 2016

Obama's Parting Energy Gift to America

Timothy Birdnow

In one of his parting gifts to the American People Barack Obama plans to screw up the energy system for as long as possible. According to oilprice.com:

"And the rules also have some important financial effects. For solar projects, they will decrease the amount of rent and fees paid to the government — although will increase the amount of capital that solar developers must commit up front.

Importantly, the rules also grant solar developers a guaranteed 30-year lease. Which gives greater certainty to new projects.

Wind power developers, by contrast, will see rents and fees rise. With some insiders in the wind industry saying the new rules will make new projects on public lands a challenge to get off the ground.

Elsewhere, the Obama administration has also pushed through final rules restricting flaring of natural gas in the petroleum industry. A move that was met by immediate lawsuits from the states of Wyoming and Montana, who are seeking to overturn the restrictions.

Obama has also been active on the mining front. With the Department of Interior moving to withdraw 30,000 acres of public lands near Yellowstone National Park from licensing for gold exploration. Existing licenses in the area will be honoured, but new issuances will be forbidden for at least the next two years."

End excerpt.

So he is trying to force his successors to accept long term solar land leaces, and stop "flares" which is teh release of methane gas - a biproduct of drilling. In other words, he seeks to do what he has done since becoming President, namely, to constipate the oil industry by plugging the back end.

I would call Mr. Obama a creep, but it would be an insult to creeps everywhere.

Oh, by the way, Goldman Sachs, the Wall Street corporate sponsor of the obama Administration (which has a finger int the Trump pie too - Steve Bannon was a former exec.) is calling for higher oil prices. You know; we need higher oil prices so people can stop driving so far and pay more for heat and air conditioning. Can't have the rubes living too well!

Here is their reasoning:

"Higher oil prices lead to a wave of capital that flows into major oil producing countries such as Saudi Arabia. Unable to use all the capital, Saudi Arabia sends the excess savings back into the global financial system. Banks then use that capital to lend. Interest rates also fall as the financial markets are more liquid. The end result is lower interest rates, more financial liquidity, higher asset values and ultimately greater consumer confidence. In short, higher oil prices could boost economic growth."

End excerpt.

No mention is made of all the money these Arab fiefdoms will give to terrorist organizations. Why worry, when we can get a few pennies of this to improve our balance sheets? What does it matter if a few hundred thousand or million Christians or Jews or Bahai or Hindus or Buddhists are massacred? They don't contribute to the balance sheet!

War is very, very expensive. If we keep the money rolling in to the Jihadists we keep it going. How much have the Syrian refugees cost Europe?

This is globalist crony capitalism at it's most despicable.


Posted by: Timothy Birdnow at 12:41 PM | Comments (1) | Add Comment
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