By Phil Flynn, Alaron
The Obama administration is coming under more criticism for its emotional and political cover move to ban offshore drilling. The move is not only costing us much needed jobs but is also damaging the economy now and in the future as energy prices rise mainly because the market is unsure as to what the administration will do next. They have added to market uncertainty by opening the possibility that BP could also be liable for losses of workers laid off due to the U.S. government's unwise and ill conceived drilling moratorium.
This means that BP may have unlimited liability in this spill as Obama tries to make up laws and rules as they go along. What they lack in experience they make up for in arrogance as they continue to cover their ineptitude with anger and bad decisions that will do more to hurt the welfare of the average American more than you know. The whole world is watching and learning and our credibility is on the line.
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Republished with permission from Alaron's Energy Report Daily.