Wednesday, June 11, 2008
Barack Obama: I think that... we have been slow to move in a better direction when it comes to energy usage. And the president, frankly, hasn't had an energy policy.* And as a consequence we've been consuming energy as if it's infinite. We now know that our demand is badly outstripping supply with China and India growing as rapidly as they are.
CNBC's John Harwood: So could the (high) oil prices help us?
Barack Obama: I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money in their pockets, but also by encouraging the market to adapt to these new circumstances more rapidly, particularly U.S. automakers...
For the "plan" to work, GM and Chrysler must make fuel efficient autos that the BO administration and it's followers want. In order for them to sell they MUST have high gasoline prices, otherwise buyers will spend their money on other brands...including Ford.
In order for GM and Chrysler to succeed the administration will bring down Ford, so that all the automakers are on the same page.
Also more wealth transfers as the wage earners and above pay more for fuel and fuel taxes. Also oil and energy companies will be taxed heavily...more income redistribution as that money is given to those who BO feels have been treated unfairly and don't have what others have.
It is not about right or smarts. It is about perceived fairness. If you have made more, have better insurance, more home equity on and on then a group Barry O backs, he will make sure it will be taken from you. Middle class on up are going to be screwed so Barry O can spread YOUR wealth to whom he chooses..It will not be most of us hard working tax payers.
When the cap and trade takes effect, forget about all energy costs...unless you are one of Barry O's favorites which of course will get subsidized, fuels, electricity, healthcare on and on.....until the golden goose is broke..then all bets are off for most of us...
But that is the end plan..the destruction of the USA as we know it. Depending on your political outlook, that is either a good or bad thing.......
