“A Week of Reversals”

By William L. Garvin

There were so many changes in direction this past week that one would think they were following the fortunes of the USA soccer team in the World Cup. To start with, let’s take President Obama’s ill conceived and sweeping moratorium on oil drilling in the Gulf of Mexico. It was struck down by a federal judge. “If some drilling equipment parts are flawed, is it rational to say all are?” U.S. District Judge Martin Feldman asked. “Are all airplanes a danger because one was? All oil tankers like Exxon Valdez? All trains? All mines? That sort of thinking seems heavy-handed, and rather overbearing.”



What was even more heavy-handed was the manner in which Interior Secretary Ken Salazar developed his rationale to support the moratorium. He had seven handpicked experts evaluate the situation and according to Secretary Salazar, all recommended the moratorium. Wrong! In fact, none of the seven supported the moratorium and all said their views were “misrepresented.” Judge Feldman’s ruling pointed out that Salazar’s moratorium “does not seem to be fact-specific and refuses to take into measure the safety records of those others in the Gulf.” The Judge also noted that 150,000 jobs are directly related to offshore operations…not that unemployment is an issue in Louisiana or the country.



You would think that with data being manipulated and “misrepresented” the Associated Press would be focusing on the Interior Secretary’s misdeeds. Wrong! A significant thrust of the article and the headline in the Contra Costa Costa Times was “Judge has owned stock in oil-related firms.” Digging up his 2008 financial disclosure report the author found that he then had holdings in “eight petroleum companies or funds that invest in them.” Also buried in the fine print was the note that “most of his holdings were valued at less than $15,000” and he owned zero shares of BP.



There are very few diversified funds that would not have some holdings in oil and energy. For instance, look at CalPers, the pension fund for most state and local government employees. According to CNN, they now own over 60 million BP shares. Given the loss of 50% of their market value and BP foregoing their next three dividends, you’d think they would be a little leery of this investment. Wrong! Again, CNN says they have bought over 2 million shares of BP since the rig exploded on April 20. Maybe that’s why CalPers has already asked the State for $700 million dollars to meet this year’s pension obligations.



Another stunning self-inflicted reversal came on the President’s promise to Arizona’s Governor Brewer. Several weeks ago, he said he would provide 1,200 troops to protect our border with Mexico within two weeks. Of course this ignores the fact that Senators Kyl and McCain had requested 6,000 just for Arizona and Sheriff Paul Babeu of Pinal County said he needed 3,000 just for his county. Well, the troops still aren’t there. Adding insult to injury, Secretary of State Hillary Clinton, while visiting Ecuador, announced the Administration will be suing Arizona. Neither the Senators nor the Governor was informed of this decision in advance. Even Arizona Democrat Reps. Giffords, Kirkpatrick, and Mitchell are urging the President not to sue but probably to no avail. Since President Felipe Calderon of Mexico has said he will join in on the lawsuit, will the trial be conducted in English or Spanish?



This lawsuit is particularly galling since the Feds recently placed warning signs around the Buenos Aires National Wildlife Refuge in Arizona warning Americans to keep out! The danger they are concerned about is from “heavily armed foreigners smuggling drugs.” An Arizona police chief has had to tell his officers to keep their weapons with them at all times since they have been targeted by a Mexican drug cartel. The American public continues to support Arizona law SB 1070 by a two to one margin. Mr. President why don’t you listen to the people, secure the border and protect United States citizens? It’s your job!





What wasn’t reversed: the unemployment rate, the oil spill, or the oil containment. What wasn’t reversed: the casualties in Afghanistan, the deficit, or this Administration’s continued “redistribution” spending plans. What wasn’t reversed: increases in health care costs, expanding federal government, or back room deals. What wasn’t reversed: government ineffectiveness, abysmal border security, unemployment, our failing economy, and the erosion of personal liberty. There is no objective indicator that this administration will reverse the pattern of national and international failure it has established over the last eighteen months. This country is being driven into chaos and President Obama’s foot is on the accelerator.