America stands behind president Obama! Big challenges to solve! (735)

Here,something so you can really stir!

I would like to return to the classic miscalculation of the Obama Administration on Iraqi oil for a moment.

As was discovered here.....in blogging....the Obama economic team...had bought into the idea that Iraqi oil was coming to the
US. They set their energy program up around thinking that the Iraqi 2.6m bpd were were ultimately headed into US ports, refineries, products, gas stations and finally cars and trucks.

Only it was not.

But they set there economic policies early in the administration up like it was. About 3-4 months into the Administration, someone had to into the Oval office and tell the President....the Iraqi oil is not coming to the US. This when the Iraqi gov't resigned the oil contracts. (To be a fly on the wall in that meeting)

This has so disrupted the Obama administration.....that it still today.....18 months later...does not have a energy program for the country. Iraq oil is going to the Chinese, the Russians, the Europeans but very little is headed to the US. The assumption prior to taking office, was that all this Iraqi oil was coming to the US. Was proving false.

But for the first few months of the administration, Obama economic teams were tipping to Wall Street ... "don't worry about energy, we got Iraqi oil coming." When asked about energy and oil. Wall Street will live with your regulations and rules as long as you give them accurate tips that they can make solid marketplace investment on. (e.g make profits and a living on). I know very close to insider trading, but not exactly the same.

Now no wonder that this was same time that Wall Street lost its love affair with Barack Obama. Because in April-August of 2008, Iraq is signing all these foreign export contracts....but none are headed to the US. Backing up the adminstration's earlier tips on Iraqi crude. I checked the stock market....

The compounded annual growth rate of American 500 stocks in April of 2008 took a dive like a WWII US Dautless dive bomber over the Japanese carrier Sagi at the battle of Midway. They were betting on Obama's Iraqi oil tip.....and got clobbered on the false info. It fell 20 points going into 2009. From a +15 to a -5.

So advancing some to the BP oil crisis. One has to wonder why the Obama administration is even permitting the oil industry to drill in the Gulf. Seeing that it is so green and environmental friendly. By there stands Deep Water Horizon drilling holes in
the Gulf. The answer is that Iraqi crude is not making it way to the US. KA Boom....and the Deep Water Horizon flames and sinks.....beginning this countries biggest environmental catasphere in modern time.

Now follow. Obama cannot tell BP.....you guys messed up big time. Get out my country. Like many Gulf Americans were wanting at the time. He needs them. Because that Iraq crude is not coming to the US. He boots BP out and he lost a major oil producer and supplier. So now we get into the 20B diasaster fund...."I want my life back".....and "the little people of the region". All the President of the United States can do is to smile and do photo opts on the Gulf.

So eventually Obama shuts the entire Gulf drilling industry down.
The rigs leave the region, a 100,000 jobs are lost, the 20b trickles to the claimants, and OPEC like a vulture ....tightens the supply. Gas price at the pumps climb. Obama reapproves oil drilling in the Gulf because even he can see now, that OPEC is not the buddy buddy of the US. But the damage has been.

Obama's miscalculation on the end destination of the Iraqi oil has cost this country billions. 1000s of jobs. It was all because of a promoted lie on the GWB administration....that the war in Iraq was because of oil. A lie to get him elected.

Why not share your feelings?

Go rest your little head on your little pillow. We will protect your thread from the evils of darkness.

I had to get up early and fight the evils of darkness.





















and...I had to tinkle.

It will be interesting to see what Obama does when he goes to Arizona. It could be his "defining" moment. I doubt it, but it could be.

Hopefully he doesn't turn it into a "never let a crisis go to waste" moment.