Energy OSD …Post Wall St. Bailout Relief
By: Guest Authors
By: E. Anthony Santos
House Speaker Nancy Pelosi has unwittingly provided a substantial solution to reduce the burden of the Post Wall St Crisis. Over several months we’ve developed a Pavlovian response when T. Boone Pickens reminds us $700 Billion Dollars per year spent on foreign oil. The Bush administrations $700 Billion Dollar “Triage” proposal to bail out Wall St will stop the bleeding, Congress will humbly sign off in the “Spirit of Bipartisanship”, recess, and hope no one will notice their names are on the ballot November 4. By the end of next week Congress will be outnumbered by 305 million American shareholders. So what about Speaker Pelosi? August 1, 2008 House Speaker Pelosi and 213 accomplices Forces Congress Dark to prevent a vote on Off Shore Drilling. September 30 , 10 days from now the Congressional Moratorium on Off Shore Drilling should be allowed to expire uncontested. While our gratitude to Speaker Pelosi for shutting down congress is premature the exploration and harvest of our own energy reserves (no strings) will substantially offset the $700 Billion burden to the American Shareholder. While we can hear
EarthJustice and the Enviro-Left warming up injunctions and lawsuits to block drilling, energy is the stimulus to recovery from this financial crisis, and a self Imposed dependence on Foreign Oil.
No one knows how this will shake out, over the short term, but we can be grateful that Senate Majority Leader Harry “No One Knows What to do” Reid was not Shot-Gunning the remediation of this crisis. At the end of the day it was the Bush administration that provided the buffer to control the runaway Wall St. train. An Economic plan held by either Presidential Candidate at best would be “Contingent”, but a long term solution to relieve the burden of this debt and resolving Energy would be welcomed November 4th by millions of registered (and un-registered) American Share Holders.
Charges of de-regulation as one the factors to this collapse wrongly assumes existing oversight and regulations were Not adequate and corruption doesn’t exist in the bureaucracy . Speaker Pelosi’s call for a Wall Street probe should be with Justice, and not Congress to investigate itself by an overworked Rep. Henry Waxman. It’s no dark secret over the past decade the actions of both parties have brought us to this day and facts will not bear out this year. Both campaigns would do well to drop the re-criminations, and focus on a long term solution for the American Shareholder.
E. Anthony Santos
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