Sunday, October 16, 2011

Why America does not believe Global Warming

I think Elizabeth Rosenthal circles wagons around and fails to come to grips with the reality that USA is the third largest producer of Oil and Gas in the world after Russia and Saudi Arabia. Given that, attitude of America is really to be compared with Russia and Saudi Arabia and not with EU which hardly digs any carbon fuels. Within Europe, let us see how one of the most progressive countries - Norway - reacts as it continues to hit jackpots of huge oil finds.

Point is, education and knowledge do not make societies enlightened. In the end, it is all about money and vested interests. GOP in USA just happens to carry waters for Oil and Gas Industry. I have no doubt in my mind, if Democrats were popular in Texas and Democrats were to carry waters for Oil and Gas Industry; all these progressives would have got same 'fits' when anyone would start complaining about global warming.

Given this political economic reality, the deal on the table is - defend Koch Brothers, Exxon Mobile and Carbon spouting American Airlines against the global on-slaughter; but within American Economy make these guys to pay for. In other words, fight 'class warfare' for these players on the global stage but on national stage make them pay for the 'class warfare'.

As usual suspicion is Obama Administration would be doing only the first part and not the latter. During 2009 Great Recession Times, Obama Administration saved Banks with TARP; and completely lost an opportunity to make these Banks pay for (for example across the board mortgage deal). Fear is same thing would happen here - it will let free ride Oil & Gas Industry while it carries the 'cross for that industry' in the name of protecting and nurturing jobs. COS Daley - where are you? Would you mind doing something here?

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