Energy Makes Us Go, For Obama It Is A No-Go

President Obama could not get his Jobs Bill through the Democrat-controlled Senate.  He is now attempting to break it into parts and pass individual pieces.  He is faring no better with this strategy so far.

In the meantime, he ignores the most basic and logical answers for economic growth and job creation.  For example, what is he doing about energy?   Quite simply, energy makes our economy go.  We need it for anything we want to do.  It needs to be available and it needs to be affordable.  President Obama has chosen to throw billions of dollars at so-called "green" energy projects like Solyndra while totally ignoring traditional energy resources that are proven and plentiful.  The Congressional Research Service recently issued a report that America's combined energy resources are the largest on earth.

In fact, they eclipse Saudi Arabia (3rd), China (4th) and Canada (6th) combined.

Peter Glover in his article, "U.S Has Earth Largest Energy Resources" sums it up well.

If the White House is in any way serious about impacting the economic Black Hole that is the burgeoning national debt, reinvigorating business big-time, creating real jobs and restoring ebbing national wealth, the best shot by a distance if you’re American ... well, you’re standing on it, or rather above it. 

While love, spiritually speaking and in fiction, may make the world go around, it is energy – and mostly hydrocarbon energy – that actually drives it. As blockbuster thrillers sometimes put it, “Who will tell the President?”

What is more perplexing is the fact that high energy costs most directly impact those on the bottom of the income scale-those that President Obama purports to want to help the most with his redistribution schemes.

Consider the impact of high gasoline prices.  A recent report, "The Energy Trap" by the New America Foundation that details the impacts of high gas prices on American households provides some perspective.

By the end of 2011, Americans will have spent more than $490 billion on gasoline--more than we spent any other year, even though we've reduced the amount of fuel we use since 2008. This is a terrific outlay of money--almost equivalent to the trade deficit--but it impacts the US economy at an intimate household level. But where you lived determined how much you paid. New Yorkers' monthly bills rose an extra $64 to $252 while Texans needed an extra $90 to make their monthly total of $451. All of these increments add up: By the end of 2011, we will have spent an extra $100 billion more on gas than we did in 2010. Our gas tanks basically wiped out the entire middle class tax break that was supposed to stimulate the economy and create jobs (emphasis added).

In fact, the Department of Commerce now estimates that an average household making $50,800 spends more on their car and fuel ($7,900) than they do on taxes ($6,000) or health care ($3,800).

Of course, spending on energy and gasoline is highly regressive.  These costs disproportionately  impact those at the bottom of the income scale.  Those with incomes below $25,000 pay about 9.2% of their income on gasoline.  Those making between $75,000-$85,000 only spend 3.6% on their gas.

If President Obama is serious about creating jobs and helping those at the bottom of the income scale the easiest thing he could do would be to take advantage of our vast fossil fuel resources.  The fact that he does nothing while millions are out of work and millions more are seeing their household budgets squeezed should tell you all you need to know about this President.  It is time get serious and all we get are further Stimulus II sideshows in the Senate.

President Obama seems to spend all his time campaigning these days rather than working on solving our problems.  If only the election were this November!  Energy makes our economy go.  However, it has become clear that for Obama it is a no-go.