Monday, March 12, 2012

Ken Salazar just screwed the pooch

Interior Secretary Ken Salazar took to the White House briefing room Monday to defend President Obama’s energy plan after a new poll suggested high gas prices are eroding the president’s approval numbers.
Salazar insisted that Obama is reviewing short- and long-term actions to lower gas prices, while also noting that there are no quick fixes to the problem. Hill 
No quick fix, this from an administration who claimed Keynesian policy was a quick fix. This is the point, Obama is in trouble because he pulled the fast one, claiming the crash had nothing to do with input shortages. Then at election time he pulls out this patsy to cover the lie!

Here is a clue for the undectuated Keynesians:
It all adds up to a fossil fuel jobs boom: oil and gas extraction alone created 150,000 jobs last year – about 9 percent of all new jobs created in 2011, according to a new study from the World Economic Forum, though the industry accounts for only about 5.2 percent of total employment. Economix
So if you want to use employment as a unit of account, here it is, we suffered an energy shoratage, and still do. How many of these jobs were due to Keynesian policy? Why did energy employment outperform, I don't remember any Keynesian push to get more drilling.

Santorum got this right, none of Obama's advisors did.

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