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Monday, July 11, 2016

Democrats Attack The Economy

Since president Obama took office in 2009, the American economy has been stagnant.  Growth during those nearly eight years has never even made it up to the average growth rate of the post World War II era.  It's a terrible record.  No other two term president has ever failed to get the economy up to the average for even one year of his term.  During Obama's time in office, there has only been one real bright spot in the economy:  the domestic oil and gas industry.  With the use of horizontal drilling and fracking, American production of oil and gas has soared.  This, more than any other single item, has led to the worldwide decline in energy prices.  Right now, oil is less than 50% of where it was a few years back.  Natural gas is currently priced at levels less than 25% of recent highs.  This increased production produced millions of jobs for Americans.  The decline in prices resulted in putting major amounts of cash back into the pockets of the average American, thereby promoting further economic growth.

So what do you think the Democrats decided to attack in their platform?  What is the new official party position on oil and gas production in the USA?  Amazingly, the Democrats' draft platform which will be presented to the convention for adoption includes a promise to limit in drastic ways the use of fracking in this country.  The Democrats' are advocating that the government destroy the biggest driver of economic growth of the last eight years.

Let's be clear what the Democrats' position means:

1.  There would be much less production of oil and gas.
2.  The decline in production would eliminate hundreds of thousands of jobs.
3.  The loss of US production would mean a major rise in world prices for oil and natural gas.  That means that the cost of heating one's home and driving one's car would necessarily soar.  The average family could expect additional costs of at least $1000 per year according to some reports.
4.  There would be no effect on the emission of greenhouse gases, the supposed reason why the Democrats oppose fracking.

For this reason alone, no sane person ought to vote for Hillary Clinton.

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