Dow 5,000, Obama and Browner Will Get it Done

February/25/2009 2:39AM
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The next big move for the Obama platform will assure the Dow will drop much lower. I’m guessing, 5,000 at minimum.

In the face of what the new President tells us every day on National TV, the worst economy since the Great Depression, there is a plan to assure it will get worse. The plan is in the works. 

Carol Browner wants either more stringent ceilings in the Clean Air Act or a Cap and Trade Program to control carbon emissions. It is estimated the lower ceiling could cause as many as 600 coal fired power plants to close. The business community is scared stiff and will fight this tooth and nail.

The Cap and Trade will cause your utility bills to double.

Pick the one you like. Either will wreak havoc on the auto industry and the economy.

Already utility companies are scaling back new plants. It is estimated that cuts could total 20% by the end of 2009. This is recession related. 

A physics professor from Colorado last night predicted on TV that it will be 30 years before solar begins to produce any appreciable amount of power in the U.S. Even then, it will be very expensive compared to today’s power costs. The most efficient solar power today is twice the cost.

This is Gitmo all over again. Announce a big plan, throw gasoline on an economy that’s already burning out, and then worry about what you did.

We have thrown billions at solar over the past 30 years and it’s 1% of the power produced. The money in the Stimulus Bill is chump change by comparison. 

Get ready it’s coming. In his address to the Governors today Obama complimented the Governors who have stepped out and started this. California, of course, is the shining example. For their trouble, they import 20% of their power today. 

This will be the most destructive action yet from an administration bent on destruction. 

Still in the equities market? Think about this.

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Comments (5)

  1. Obama-Biden energy plan would provide temporary relief for Americans struggling to fuel their automobiles.

  2. Bill Robertson says:

    Oh, when their plant closes because of power costs, they will be walking. Is that what you mean?

    Bill Robertsonl

  3. Mac says:

    Solar, wind, and synfuel power are all great in theory, as has been proven repeatedly in academic environments. The problem is translating that theory to practical application. The energy costs associated with building and maintaining these sources consistently outweigh the generation outputs; i.e. they utlimately consume more energy than they deliver, much like ethanol.

  4. Bill Robertson says:

    In the meanime, we run short on power, raise costs for all energy, close manufacturing plants, lose blue collar jobs, and dig the hole deeper and deeper.

    Bill Robertson

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