February 24, 2012
Obama’s oily deception
By Steve McCann
Once again the nation is experiencing gas prices exceeding $4.00 per gallon and as predictable as the sun rising in the East, Obama claims there are no easy fixes and that the real solution is the forced development of alternative energy — after all the United States has only 2% of the world’s oil reserves. This is not only demagoguery of the worst sort but an outright lie.
The United States is, for the second time in less than three years, being reminded of its absurd dependence of foreign sources of energy, most notably, oil. The upheavals in the Middle East have driven up the cost of a barrel of oil into triple digits as it was in 2008 and 2010. However were there stability in this region the long-term price of crude would still be at or near this price range due to the increasing demands of countries such as China and India and the deliberate devaluation of the dollar by the Federal Reserve and the Obama administration.
In 1982 China oil consumption was 1.7 million barrels per day; in 2010 it had increased to nearly 10.0 million barrels per day. India, also in 1982, consumed .7 million barrels per day, today India is using 3.0 million barrels per day. The United States increased its consumption by 3.6 million barrels per day during this same period. (http://www.eia.gov/forecasts/ieo/index.cfm)
In the meantime America has decreased its domestic production by nearly 3.0 million barrels per day.
The country’s dependence of foreign sources has increased to 54% of the daily requirement as compared to 45% just 15 years ago. Over half of that amount comes from countries that are inherently unstable or ruled by despotic regimes whose interest it is to de-stabilize the United States. (http://www.eia.doe.gov/emeu/steo/pub/contents.html)
Yet the United States is sitting on the world’s largest untapped oil reserve. A natural resource that would not only mitigate the over $400 Billion sent overseas to other countries but could create untold millions of jobs and put the country on a sound financial footing.
The untapped reserves are estimated up to 2.3 Trillion barrels, nearly three times the reserves held by the OPEC countries and sufficient to meet 300 years of demand, at today’s levels — for auto, truck, aircraft, heating and industrial fuel, without importing a single barrel of oil. (http://kiplinger.com/businessresource/forecast/archive/The_U.S._s_Untapped_Bounty_080630.html)
Here is a look at some of the largest untapped reserves:
The Bakken Fields in North and South Dakota. New drilling and oil recovery technology is making the capture of this oil feasible and some development is now underway. It is estimated that there is at least 200 Billion barrels of oil in this region. At a price of $100 per barrel the value of this find is $20 Trillion.
The Outer Continental shelf. It is estimated that around 90 billion barrels of oil sit beneath the ocean bed 50 to 100 miles off the shore of the Atlantic, Pacific and Gulf coasts. The value: $9 Trillion.
The Alaska National Wildlife Refuge. About 10 billion barrels are locked up here with a current value of $1 Trillion.
Tar Sands: Around 75 Billion barrels of oil could come from these areas which are similar to the Canadian tar sand fields and which now produce about 2 million barrels per day. The value: $7.5 Trillion
Oil Shale. This is the most massive area of potential oil production in the world with an estimated 1.5 Trillion barrel potential. The technology necessary to extract this oil is now in place and being operated on a pilot project basis. The value of this resource: $150 Trillion
There also the very real potential that further finds will be discovered as technology continues to improve.
In total the value of the potential oil reserves of the United States listed above exceeds $187 Trillion. The current national debt is $14.2 Trillion or less than 8%.
Despite the protestation of President Obama and the environmentalists the world and particularly the United States is not running out of oil. Their foolish tilting at windmills and solar will never produce energy sufficient to operate a $15Trillion and hopefully growing economy. It will be decades if not the rest of the 21st Century before any meaningful substitute for fossil fuels will be developed and additional time and investment will then be necessary to distribute the product.
Mankind’s ingenuity has and will continue to develop technology to safely extract process and market fossil fuels (which is a naturally occurring resource).
Read at link below
Read at link below
Obama Vetos Keystone Pipeline; What Does He Have Against Jobs and Freedom to Have our Own Oil Production? Crony Capitalism, Donor Repayment, and Political Idealism……
Obama Stimulus Dollars Funded Soros Empire, in Scandal that Dwarfs ACORN and GSA, Says New Report
By Cliff Kincaid
April 17, 2012
Newly recently released tax documents, examined and analyzed by Tina Trent of sorosfiles.com, reveal how billionaire “philanthropist” George Soros expanded his U.S.-based empire by using funds from the American Recovery and Reinvestment Act of 2009, also known as the Obama stimulus. Soros and Obama worked hand-in-glove through the stimulus, which has been called the largest single partisan wealth transfer in American history.
The new report has been released by America’s Survival, Inc. (ASI), publisher of the Soros Files website, and posted under the title OBAMA STIMULUS DOLLARS FUNDED SOROS EMPIRE. The release of the report coincides with an Internet advertising campaign on CanadaFreePress.com, a global source of news and information, drawing attention to how the transfers of federal funds to the Soros empire constitute a bigger scandal than ACORN. In that scandal, the House and Senate voted to cut off funds to the Association of Community Organizations for Reform Now (ACORN) after undercover videos showed ACORN officials giving advice on how to hide financial misdeeds and tax crimes. “The new and currently unfolding scandal of extravagant spending by the General Services Administration, or GSA, is peanuts compared to how Soros tapped the public till,” ASI President Cliff Kincaid said.
In 2010, tax records show that Soros, a convicted inside trader with extensive knowledge of the American financial system and government policies under Obama, deployed grantees from his Open Society Foundations to lobby for and acquire federal contracts for job training, green energy, and community redevelopment programs. By gaining control over those resources, Soros advanced his agenda for “green economics,” open borders, and increased government handouts. In short, he grew his empire, which includes much of the “progressive” movement in the U.S., as the federal government itself grew.
In the report, Tina Trent analyzes George Soros’s grants to organizations in 2010. Four powerful organizations and coalitions—The STAR Coalition, The Gamaliel Foundation, the Apollo Alliance, and Green for All – are given detailed scrutiny in this regard, with the involvement of Van Jones getting special mention. Jones is the former Obama “Green Jobs Czar” fired after information about his communist past surfaced through the work of anti-communist blogger Trevor Loudon and then-Fox News personality Glenn Beck.
DID BUFFETT HELP OBAMA KILL KEYSTONE PIPELINE TO REAP FINANCIAL GAIN?
April 17, 2012
As the nation’s gas prices skyrocket, critics argue that President Obama’s recent rejection of the $7 billion, “shovel-ready” Keystone XL oil pipeline, followed by his continued vow to “double down” on green energy, is a clear sign the administration plans to do little of substance in terms of American oil exploration. The move has also stirred controversy about the president’s real intentions concerning job creation and reducing pain at the pump for everyday Americans. But could there be a more sinister reason behind denying the pipeline’s requisite permits — namely, to benefit billionaire Obama-supporter Warren Buffett?
The evidence does seem to be mounting.
Background on TransCanada’s Keystone XL oil pipeline
By now, most are likely familiar with the controversy surrounding the Keystone XL oil pipeline intended to transport crude oil from Alberta, Canada all the way to Texas’ Gulf Coast. The administration rejected permits to construct the northern portion of the pipeline, allegedly on the basis of “environmental concerns,” along with a purported lack of time to investigate said issues.
Adding salt to the wound, in March, Obama visited Cushing, Oklahoma, site of the world’s largest oil storage complex, to take credit for “approving” the stretch of pipeline construction that was already underway there. While Obama used the tour to prop up his administrations’ energy policy, TransCanada actually gained approvals to build the southern stretch of its pipeline months prior to Obama’s arrival in Oklahoma, and did so through no help of the president. As Forbes pointed out, pipelines that stay within U.S. borders are not subject to presidential approval like ones running from Canada into the U.S.
Regarding the northern portion, TransCanada filed an initial application to build the 1,179-mile underground pipeline in 2008, passing two State Department reviews and in February 2010, South Dakota Public Utilities Commission (PUC) granted a permit based on a thorough work up of the project.
“There has been a great deal of work and due diligence leading up to this decision,” said South Dakota Public Utilities Commissioner Dustin Johnson in an interview with DownStreamToday. “The record compiled in this case is pretty impressive. In the end, I feel the conditions we have placed upon this project ensure that it will be constructed in a manner that is sensitive to South Dakota and her people.”
Another Public Utilities official said he believed “the process by which this application was considered was open, thorough and fair” and Keystone openly pledged to station full-time personnel in South Dakota to respond to any emergency situations that may have arisen, according to the report.
That was apparently not enough for the White House, however, which sent TransCanada and others back to the drawing board in January 2012, citing environmental concerns.
To bypass obstacles created by special interest groups and the Environmental Protection Agency, a March 2012 amendment was introduced in the Senate that would have eliminated the need for a federal permit, while addressing environmentalists’ worries by placing more autonomy in Nebraska’s hands. After a vote, however, Democrats squashed the measure 56 to 42.
But it appears TransCanada may not be giving up just yet. According to its website, the company plans to re-apply for a Presidential Permit to be processed in an “expedited manner” by making use of ”the exhaustive record compiled over the past three plus years of regulatory review to allow for an in-service date of 2015.”
The statement continues:
TransCanada anticipates approval of the Presidential Permit application – which is required as the pipeline will cross the Canada/U.S. border – in the first quarter of 2013, after which construction will quickly begin. [...] TransCanada continues to believe in the value of Keystone XL due to the overwhelming support the project has received from American and Canadian producers and U.S. refiners who signed 17 to 18 year contracts to ship over hundreds of thousands of barrels of oil per day to meet the needs of American consumers.
Given the obstacles faced to now, TransCanada still may have a long road to hoe.
The job factor
If allowed, Keystone would have brought a reported 830,000 barrels of crude oil per day from Alberta, Canada, to U.S. outposts and refineries on the Gulf Coast. According to TransCanada, the $7 billion project would have also created some 20,000 jobs in the United States.
“These are new, real U.S. jobs,” Russ Girling, TransCanada’s president and chief executive officer, said in a statement back in January.
Girling clarified that 13,000 construction jobs would be created immediately while another 7,000 would be generated in the manufacturing sector.
TransCanada also maintained that among those positions on offer would be one for an “environmental coordinator.” While the job description was not readily available, it seems based on the title, to be the kind of “green job” engineered to oversee that the pipeline’s production was in accordance with environmental standards.
A growing rift with Canada?
TransCanada and its supporters, including Canadian Prime Minister Stephen Harper, have maintained that Keystone XL is vital to American livelihood. Yet, as The Blaze reported, in the wake of Obama’s political maneuvering, Harper deemed the U.S. an unreliable energy partner and now plans to expand his country’s crude export. The move will result in Canada eliminating the discount it once afforded the U.S. on its oil products, thus hitting drivers at the gas pump even harder.
Even longtime oilman T. Boone Pickens observed the alienation occurring between the two neighbors when he said that ”we work with the Canadians like they’re the enemy sometimes.” He added, “we tell them they can’t bring a Keystone pipeline to the United States…That’s 250 billion barrels of oil that the United States would capture for our use!”
The administration’s alleged reason for rejecting the application for the pipeline submitted by Calgary-based TransCanada was said to be based on a lack of time to study the proposal by a February 21 Congressional deadline. Yet, as we have pointed out, the pipeline was under review for no less than three years and was approved earlier. In addition, if environmental concerns were truly the catalyst for rejecting the pipeline, why then would the president seem comfortable with operating pollutant-emitting freight trains along thousands of miles of railroad through the United States?
Warren Buffett’s Burlington Northern Railroad
What prompted the president to turn the lights out on what critics argue would have been an environmentally-sound, job-boosting, oil-producing project that would benefit the nation and preserve the financially beneficial Canadian-U.S. oil relationship? What does President Obama have to gain by rejecting Keystone XL and who else stands to benefit from his decision?
It was previously reported on The Blaze that Warren Buffett’s Burlington Northern Santa Fe LLC railroad — a unit of Buffett’s Omaha, Nebraska based Berkshire Hathaway — would be among those poised to reap sizable gains by the administration’s decision to reject TransCanada’s oil pipeline permit. Berkshire Hathaway purchased a 22% (or, $34 billion) share of the 32,000 mile line in 2009, shortly after Obama was elected.
“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern told Bloomberg. If Keystone XL “doesn’t happen, we’re here to haul.”
Nebraska Senator Ben Nelson
When it comes to the Keystone oil pipeline and Buffett’s Burlington Northern, all roads seem to lead to Nebraska.
GBTV uncovered a startling connection between Berkshire Hathaway’s home-state and that state’s senator, Ben Nelson, who voted against the Keystone XL and lobbied that it be re-routed to avoid Nebraska. Ironically, the Democrat’s attempts to thwart the pipeline were done while he himself maintained his state would heartily welcome the jobs created from the Keystone project. While Nelson’s position then seems counterintuitive, add to it the fact that he is heavily invested in Buffett’s Berkshire Hathaway. From 2007 to 2012 Nelson contributed $27,000 to the company itself and according to a recent financial disclosure statement from 2008, he owned between $1.5 and $6 million of the company’s stock – his largest investment in any one company to date.
The pendulum seems to swing both ways, however. Buffett’s Burlington Northern Santa Fe PAC in turn contributed $5,000 to Senator Nelson’s Nebraska Leadership PAC and Berkshire Hathaway employees have reportedly long supported the senator, contributing at least $75,550 to the Nebraska Democrat over the course of his political career according to the Center for Responsive Politics.
Not coincidentally, the Nebraska senator penned an op-ed column on March 5, 2012 entitled “Behind Those High Gas Prices.” As you can imagine, he was quick to tell Nebraskans that the spike “has nothing to do with the Keystone Pipeline” and also “isn’t a result of domestic oil production.” Below is an excerpt from Nelson’s column:
First, the rapid rise isn’t a result of domestic oil production. We’re producing more oil in the U.S. now than we have since 2003. As a matter of fact, under the previous Administration domestic production of crude declined every year, whereas since 2009 domestic production has increased every year.
Second, this has nothing to do with the Keystone Pipeline. The price of oil is set on the World Market and is impacted by a host of factors – including unrest in oil producing nations. It isn’t a simple supply and demand pricing issue.
He went on to write the U.S. has in fact demonstrated “the lowest demand for gasoline in 15 years” but the price of oil “has still gone up.”
Helping to squash the Keystone pipeline clearly won’t help matters either.
Overhauling financial regulation
Another noteworthy incident unearthed by GBTV was in Nelson’s involvement in overhauling financial regulation. Among the considerations during a tentative deal to set restrictions on trading derivatives, was a substantial provision being lobbied for by Buffett that would have buffered his company from financial blows. The WSJ adds:
The provision, sought by Berkshire and pushed by Nebraska Sen. Ben Nelson in the Senate Agriculture Committee, would largely exempt existing derivatives contracts from the proposed rules. Previously, the legislation could have allowed regulators to require that companies such as Nebraska-based Berkshire put aside large sums to cover potential losses.
The article adds that the change “thus would aid Berkshire, which has a $63 billion derivatives portfolio, according to Barclays Capital.”
“Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp.’s Keystone XL oil pipeline permit,” Bloomberg reported earlier this year.
Buffett’s Berkshire Hathaway Inc. holding company purchased the Burlington Northern Santa Fe Railroad Corp. in a total package worth $44 billion in 2009.
Washington Post: Obama Green Jobs Cost $5 Million Each
Will networks report massive cost for failed program?
The Washington Post might be a day late and $38 billion short, but it’s being honest about Barack Obama’s failed green jobs program. According to the Post, the “$38.6 billion loan guarantee program” has created just “3,545 new, permanent jobs” “after giving out almost half the allocated amount.”
For those not doing the math at home, that means more than $5 million per job.
The Post outlined Obama administration promises to “create or save 65,000 jobs” in the green jobs category. What it left out was that, while campaigning, Obama promised to create 5 million “green” jobs. He’s about 4,996,455 short.
The green jobs program has come under scrutiny following “the collapse of Solyndra, a solar-panel maker whose closure could leave taxpayers on the hook for as much as $527 million.”
According to the Post, the White House won’t even admit it’s failing. “The Energy Department says that the green-jobs program is still on track to meet its employment goals. It claims credit for saving 33,000 jobs at Ford Motor Co. – about half of the Detroit automaker’s entire hourly and salaried U.S. workforce.”
At least, however, the Post is reporting it. The broadcast networks are not. The Business & Media Institute analyzed the results of a Nexis search for the term “green jobs” and found only 4 stories out of 52 (roughly 8 percent) between Jan. 17, 2009, and Aug. 17, 2011, included any criticism. That means 92 percent had no criticism. An additional 10 stories focused on Obama’s former green jobs “czar” Van Jones resignation (because of his 9/11 Truther views) were excluded from the analysis.
Americans have seen how productive/profitable Obama’s Green Projects have gone:
Failed “Green Projects”: Solyndra, Lightsource, Tennessee Truck Charging Station, Tonopah tied to Nancy Pelosi, US Navy paying $15 per galloon for jet fuel (Obama Crony involved), then today we hear about the parent company of electric car batteries, supplied with Obama cash has filed for bankruptcy.
Even after Obama loans to “Green Companies” have ended in bankruptcy, Obama shells out more taxpayer money/loans for “Green Jobs.”
No Keystone Pipeline with TransCanada to ship oil from Canada to US.
Obama Vetos Keystone Pipeline; What Does He Have Against Jobs and Freedom to Have our Own Oil Production? Crony Capitalism, Donor Repayment, and Political Idealism……
U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium. Another Foreign Oil Company? What About American Oil Rig Workers?
Still the public should know that Soros keeps his billions safe from American taxation by having his money offshore in secret accounts; however, it is important to note that if any of us campesinos attempt to hide funds in this manner we will be serving time in the slammer.
We must remember that Soros has adjusted his life to the fact that he is a self-professed deity and is destined to be among the supreme ruling Elite of the world. Therefore it is unnecessary to subject his fortune to the same taxation we as ordinary Americans endure in order to bring about the Wealth Redistribution that he and Obama have envisioned for the world.
The Quantum Fund is registered in the tax haven of the Netherlands Antilles, in the Caribbean. This is to avoid paying taxes, as well as to hide the true nature of his investors and what he does with their money.
In order to avoid U.S. government supervision of his financial activities, something normal U.S.-based investment funds must by law agree to in order to operate, Soros moved his legal headquarters to the Caribbean tax haven of Curacao.
The Netherlands Antilles has repeatedly been cited by the Task Force on Money Laundering of the Organization for Economic Cooperation and Development (OECD) as one of the world’s most important centers for laundering illegal proceeds of the Latin American cocaine and other drug traffic. It is a possession of the Netherlands.
Soros has taken care that the none of the 99 individual investors who participate in his various funds is an American national. By U.S. securities law, a hedge fund is limited to no more than 99 highly wealthy individuals, so-called “sophisticated investors.” By structuring his investment company as an offshore hedge fund, Soros avoids public scrutiny.
Soros himself is not even on the board of Quantum Fund. Instead, for legal reasons, he serves the Quantum Fund as official “investment adviser,” through another company, Soros Fund Management, of New York City. If any demand were to be made of Soros to reveal the details of Quantum Fund’s operations, he is able to claim he is “merely its investment adviser.” Any competent police investigator looking at the complex legal structure of Soros’s businesses would conclude that there is prima facie evidence of either vast money laundering of illicit funds, or massive illegal tax evasion. Both may be true.
To make it impossible for U.S. tax authorities or other officials to look into the financial dealings of his web of businesses, the board of directors of Quantum Fund NV also includes no American citizens. His directors are Swiss, Italian, and British financiers.
George Soros is part of a tightly knit financial mafia—”mafia,” in the sense of a closed masonic-like fraternity of families pursuing common aims. Anyone who dares to criticize Soros or any of his associates, is immediately hit with the charge of being “anti-Semitic”—-a criticism which often silences or intimidates genuine critics of Soros’s unscrupulous operations. The Anti-Defamation League of B’nai B’rith considers it a top priority to “protect” Soros from the charges of “anti-Semites” in Hungary and elsewhere in Central Europe, according to ADL National Director Abraham Foxman. The ADL’s record of service to the British oligarchy has been amply documented by EIR (e.g. The Ugly Truth About the Anti-Defamation League [Washington, D.C., Executive Intelligence Review: 1992]).