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Monday, July 12, 2010

Another job destroying move

The Department of the Interior issued another ban on deep water drilling today. The last ban was overturned in court recently. While that decision was on appeal, the government had no right to stop any drilling. This new ban takes care of that. What this all means is that the tens of thousands who are employed in off shore drilling will not get their jobs back any time soon. Neither will the additional tens of thousands who are employed to furnish goods and services needed by the drillers. Finally, the further delay will guarantee that the drill rigs themselves will leave the US and go to other countries where there is no ban. Even when the ban is lifted, there will not be much of a recovery in drilling since the rigs will all be in use elsewhere. Obama has truly destroyed a whole industry. I bet he is truly proud of himself. Just think he put at least 100,000 Americans out of work right away and has about another 250,000 who will lose their jobs in the near future.

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