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Obama Embraces Palin ‘Drill Baby Drill’ Offshore Drilling

By: Steve Johnson

3/31/2010 - 17 Comments

In a surprising turn, President Obama reversed a ban on oil drilling off the U.S. shores today, announcing a policy change that could put new oil and natural gas platforms in the Atlantic coast.

In an effort to create jobs and gain back some GOP support, Obama disappointed some of his anti-capitalism environmentalist friends who don’t want energy taken from the coastline.  

The President said this is part of his strategy to move us away from fossil fuels and foreign oil to rely on more homegrown fuels and clean energy. 

"The only way this transition will succeed is if it strengthens our economy in the short term and the long run," the president said. "To fail to recognize this reality would be a mistake."

Another words; the government cannot continue to grow and tax and spend, without new creating new jobs to pay for it.  

Israel and Iran

I would also like to bet that last week's meeting with Israeli’s Prime Minster had something to do with this decision.

If Israel attacks Iran, global oil prices are most likely going to increase very quickly and for a nation with a high dependence on foreign oil prices – this is a national security issue.

Although it will take many years before these new oil sources can be brought to full production, they can be used to talk the price of oil down – by threatening to use our own oil if foreign nations try to use oil prices to hold us hostage in trade or currency or military negotiations.

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Energy Victory: Winning the War on Terror by Breaking Free of Oil

Ethanol is perhaps the best strategy to reduce our dependence on oil. Flex-fuel technology has already been developed by an inventive woman engineer at Ford named Roberta Nichols, enabling an engine to run on any mixture of alcohol or gasoline. Our oil money is the primary source of revenue for the terror supporting nations like Saudi Arabia, Iran and Venezuela. With the rising price of gas, ethanol is now cost effective to produce and a strong weapon against the terrorist.

Crash Proof

Peter Schiff has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch to the stock market. Peter has a plan to help you servive the crash. Peter explains why the Wall Street investment firms are still trying to sell you stocks, and was the house prices are likely to continue to decline for years to come.

U.S. Manufacturing: The Engine for Growth in a Global Economy

This volume provides a comprehensive analysis of the essential role of the manufacturing sector of the US economy. The increase in the relative importance of the service sector and the globalization of manufacturing has tended to dull the image of US manufacturing....This volume contains much useful data that has been condensed into tables and charts to provide support to the reader without interrupting the flow of the text.

Freedom: America's Competitive Advantage in the Global Market

Gamble argues that globalization brings far more benefits to the U.S. economy than it takes away. Gamble shows that both Europe and emerging economic powers like China and India have serious long-terms problems linked to their cultures, political structures, occasional instability, and state ownership of companies. These and other factors will eventually put a brake on the economic growth of hot emerging economies. The fundamental protections of property and free speech, a culture that promotes and rewards entrepreneurship, banking policies that make capital easily available, are still more supportive of economic growth and wealth creation than can be found anywhere else.