Posted: June 22nd, 2010 by Militant Libertarian
Jeffrey T. Kuhner makes the case for incompetence to describe President Obama’s actions (“Capital capitulation,” Opinion, Friday), but that would mean all of these bad outcomes are just a matter of chance. There are too many dots to connect to accept that thesis. The Center for American Progress, a left-wing think tank funded by George Soros, proposes a drilling moratorium in the Gulf. The administration complies. Gulf drill rigs start migrating to Brazil to work for Petrobras, in which Mr. Soros at one point had $900 million invested and which is already funded by Export-Import Bank private bank loans guaranteed by the U.S. Treasury. Remember the U.S. government guarantees at Fannie and Freddie? The same think tank proposes that BP put up a $20 billion slush fund, and wouldn’t you know it, BP shows up to comply.
Of course, this is all crony capitalism, which probably will lead to pure fascism or worse. In fact, BP’s Gulf oil catastrophe is a pure example of what happens when big business holds hands with big government. BP spent $200 million on a green campaign, not only funding advertising, but funneling millions into so-called environmental groups such as the Nature Conservancy and Conservation International. BP was a big supporter of “cap-and-trade” – it would mean billions of revenue from BP’s natural-gas business. So what is the outcome of all of this? The federal government says go ahead and drill at a depth of one mile, and we will cap your liability at $75 million, thank you. Of course, ruin follows. Do you really think BP would have drilled that well if its liability had been unlimited and it had been allowed to pursue less risky opportunities for oil?
Welcome to the enviro-friendly fascist state.