I’d make a surprise appearance in Washington, just to announce my retirement.
Louisiana State University Endowed Chair of Banking and nationally-renowned economist Dr. Joseph R. Mason estimates that the first six months of the Obama administration’s moratorium on oil and natural gas exploration in the Gulf of Mexico will trigger a loss of more than 8,000 jobs, nearly $500 million in wages, and over $2.1 billion in economic activity in the Gulf region alone.
[…]
According to the study, the United States will see a net loss of 12,000 jobs in the six months – a number which could grow to 36,000 over the next year. Additionally, Dr. Mason estimates that the U.S. economy will lose about $2.8 billion in economic activity and the federal treasuries will lose about $220 million in lost tax revenue.
You can download the paper here (word doc.)
Related: “Where did the jobs go?” Bepuzzlement at the New York Times. Not so much in the comments.
He’s killing them softly with his Obama Siren song.
Don’t worry. The “green jobs” he’s creating will more than make up for this.
I wish you did too.
Next step…America gets bailed out by Saudi Arabia, and they have America by the gonads.
Gee that was easy…
You know that old proverb, the one about “when you only have a hammer, every problem looks like a nail”.
For a community activist, every problem looks remediable solely through lawsuit.
I’m sure the background thinking is “Let’s all just sue BP for that full amount of economic activity lost”.
This one won’t end simply or quickly.
and it’s not good
Who thinks the oil and drilling companies are going to sit on their butt and wait for the moratorium to be lifted. There is a big demand for rigs in more friendly places.
Rob is right, it will take years to get the rigs back in the Gulf.
I am thinking right after the next election.
Why should Obama care? He has a job (for now). His kids won’t worry where their next meal comes from.
Erik Larsen – I hardly ever see you to read any more. Where have you been? I mean, I’m sure you have a life and everything – must be nice – but still. Still!
All those “dodgy untrustworthy Scandi spy” comments of mine were just me being a jerk, you know. (It’s how I relate to people other than my cat. Childhood trauma and whatnot.)
Please come back and type stuff sometimes. You are a voice of erudition and decency.
And yeah, Obama is deliberately wrecking the U.S. economy. What other explanation is there?
Maybe Obama could ask Spain for advice re the green job numbers expectations.
Barrynomics . . . killing American jobs by the thousands and now tens of thousands . . .
All those years being a Community Organizer were not fro naught. Barry learned well how to “spread the wealth around”
“a loss of more than 8,000 jobs, nearly $500 million in wages, and over $2.1 billion in economic activity”
The MSM will describe all of it as unexpected, Obama will blame Bush and Rahm Emmanuel won’t let it go to waste.
Interview with a parish president. he is not at all pleased with the effort and makes it known.
http://libertypundits.net/article/the-video-president-obama-doesnt-want-you-to-see/
It’s easier to make people do what you want when they are broke and desperate.
Black Mamba, I’ve always enjoyed your light teasing.
I think Obama doesn’t tent his fingers and say – how can I ruin America today? – but rather – everything he’s seen and done in his life has been a variation of a shakedown.
It’s OK to shake down the man if the man is making a lot of money – but if you’re the man, destroying companies doesn’t really help, nor does increasing dependency on the fed government.
Re absense – I just got back from Paris. (Boo-hoo poor me.) It was nice, but it was sort of like visiting a run-down museum. (But there still are a lot of interesting things to visit.)
If America craters, tourism based on visiting the Mall of America won’t sustain that economy.
PS – liked your tweet on the other thread, although that sounds vaguely obscene
“Why should Obama care? He has a job (for now). His kids won’t worry where their next meal comes from.’
~Osumashi Kinyobe
To paraphrase Ronald Reagan:
Recession is when a neighbor loses his job.
Depression is when you lose yours.
Recovery is when Barak Obama(Jimmy Carter) loses his.
Some of you may find this article “Perfect Storm for Louisiana’s Economy” of interest:
http://globaleconomicanalysis.blogspot.com/
BlMa – I’m quite sick of the memes of “addicted to oil”, and “buying oil from countries that don’t like us” that we constantly hear. The #1 source of foreign oil (for the US) is Canada amazingly enough.
Come to think of it though, if I was an American listening to the CBC, I would also think that Canada doesn’t like us, come to think!
We are addicted to power. (And that’s not a bad thing.) Power makes the world go around – it’s just how do you get the best bang for the buck.
If we don’t go nuclear, until solar and wind can meet our needs, perhaps we could go back to whaling, for as long as that would last.
Joe’s a good man. I went to grad school with him.
His work on housing policy is also excellent.
It’s pronounced “nucular”, and yes, I think it’s the way to go, although I’m hardly the expert; but nobody’s ever been able to show me a downside (3 Mile Island? Please, I’ve heard of neighborhood backyard BBQs with worse repercussions).
P.S. – why “vaguely obscene”? “…best bang for the buck” is way worse.
Anyhoo, G’night. Hope the civilized world isn’t too much more destroyed by morning.
Maybe they can all form a club with the 10,000+ people who lost their jobs when the Obama administration decided to start closing Chrysler & GM dealerships?
well it balanced out eh? how are the job losses from the biggest american environmental catastrophe any different?
Maybe the jobs are hiding under Obama’s Jackboot, which tends to stomp daily on the neck of private enterprise?