By J.G. Azarcon, Esq.
The United States and several other countries have agreed to release 60 million barrels of oil from their strategic reserves purportedly to replace some 140 million oil production shortfall as a result of the Libyan conflict. The Strategic Petroleum Reserve was set up as security from significant disruption in domestic or international oil supply that can cause adverse impact on the economy.
Although oil prices have peaked a month ago, the Obama administration still deemed it necessary to dip into its precious reserves. According to the Wall Street Journal, 60 million barrels represent less than a single day of global oil consumption and covers only three days of US oil consumption. Is this the best thing the Obama administration could do to address the long term energy needs of America?
Tapping its oil reserves highlights America’s dependence on oil as the primary source of energy to fuel its economy. Renewable sources of energy cannot completely supplant oil in the foreseeable future. The Strategic Oil Reserve should be saved for emergency needs. The Obama administration instead should dip into the oil reserves that remain untapped underground because they have been off limits to oil drillers. Don’t wait for Libya to sell us oil. Alaska can provide a thousand times over and more than the oil to be released from the strategic reserve. Domestic oil production creates jobs and keeps US dollars at home. The government’s ideological bias towards renewable sources of energy has caused it to say no to lucrative jobs and additional revenue. Do you wonder why we are still wallowing in an economic quagmire?
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The family of the late deposed President Ferdinand Marcos has not given up in their campaign to bury the most popular Ilocano at the Libingan Ng Mga Bayani (Cemetery for Heroes). Pres. Noy Aquino referred the issue to his Vice President, Jejomar Binay, for study and recommendations. The Vice President reportedly has recommended that Marcos should not be buried at the Libingan but should be buried instead in his hometown in Ilocos with full military honors.
Pres. Noy has declared that for as long as he is president, Marcos will not be buried at the Libingan. So far he has not said that he will object to giving Marcos full military honors if the family agrees to bury the remains in Ilocos. Those who still have fresh memories of the harsh martial rule under Marcos vehemently object to burial with full military honors. There are even people who question his military medals.
Here’s a suggested compromise from my barber. Marcos can have his burial with full military honors in exchange for full forfeiture to the government of all Marcos assets. In recognition of his fake medals, Pres. Noy will send a contingent of fake soldiers to do the honors at his burial- a company of Metro Manila street sweepers dressed in military fatigues.
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One year after the passage of Obamacare, Pres. Obama has yet to reap political boost from his landmark legislative victory. As more and more details of the law come to light, more and more people are finding that the law has not lived up to its hype.
Just recently, it was discovered that provisions of Obamacare covers roughly three million middle class Americans under Medicaid. It is considered a glitch in the law because members of Congress never intended for the middle class to benefit from the health program intended for the poorest Americans.
According to Sen. John Barasso (R-Wyoming), this is going to cost Medicaid $450 billion over ten years, money that can only come f.rom taxpayers.
Pres. Obama, former Speaker Nancy Pelosi and Majority Leader Harry Reed wanted Congress to pass the health care bill even without reading the letters of the law. It was like taking medicine without reading the warning label. Now we are seeing the allergic reaction.
Speaking of critics of Obamacare, a second cousin of Pres. Obama is causing a family feud. Milton Wolf, M.D., whose mother is a first cousin of Obama’s mother, is a radiologist from Kansas who has written a book entitled- First, Do No Harm. He dissects Obamacare pointing to its pernicious effects on the quality of care, viability of existing health care plans and the economy. He attacks the emptiness of Obama’s promise that under his administration, families making less than $250,000.00 will not see any form of tax increase. Wolf cites the $569 billion new and increased taxes mandated by Obamacare on payroll, prescription drugs, insurance and merchandise from tampoons to tanning salons, from MRI machines to home sales. They may not be called income taxes but they are taxes nonetheless that are ultimately passed on to consumers.
I think Obama means what he says. Its his teleprompter that needs to pass the lie detector test.