Folks, when the most preeminent Wall Street International Bankster (managing $200 Billion in assets) expresses concern for Fracking’s environmental consequences…Obama is doing some seriously, deeply, wrong, shit to the environment!!

Go to the *.pdf and start reading from page 9 the section titled “The Beginning of the End of the Fossil Fuel Revolution” (“From Golden Goose to Cooked Goose”)

I think it is time to imprison Barac Obama and other oily/fracky/pipeliny politicians.

Excerpt regarding Obama’s absolutely lurid subservience to Big Oil:

we have never spent more money developing new oil supplies than we did last year (nearly $700 billion) nor, despite U.S. fracking, found less

Concerning Obama’s stupefyingly asinine fracking attack against the People’s Commons, the most diplomatic statement I could find is in an article about the above *.pdf quarterly report:

“Earlier this month, we highlighted Grantham's full quarterly letter to GMO clients, in which he said, among other things, that the US shale boom has been "a very large red herring."

So while some say the fracking boom has has helped keep oil prices low and aided the US on its path to energy independence, Grantham thinks it might have set us on a path to nowhere.

"Its development has been remarkable," Grantham writes.”

"It will surely be seen in the future as a real testimonial to the sheer energy of American engineering at its best, employing rapid trials and errors – with all of the risk-taking that approach involves – that the rest of the world finds so hard to emulate. Similarly, it will always stand out as remarkable proof that, so late in the realization of the risks of climate change and environmental damage, the U.S. could expressly deregulate such a rapidly growing and potentially dangerous activity."”

“The overall thrust of Grantham's letter is that the world will soon be devoid of the resources it is going to need to sustain our current economic model, which over the last 150 or so years has been predicated on cheap energy, namely oil. “

“A concern Grantham has with fracking is that the boom hasn't been accompanied by any real concern as to the environmental damage it may be inflicting.”

Obama and Washington has exhibited gross negligence in carrying out the sworn duties of the offices they hold…namely, pursuing Taxapayers’ best interests.

http://www.gmo.com/websitecontent/GMO_QtlyLetter_3Q14_full.pdf

http://www.businessinsider.com/jeremy-grantham-on-oil-economic-growth-20...

http://finance.yahoo.com/news/grantham-us-fracking-very-large-165607606....

Comments

lifesize's picture
lifesize 4 years 46 weeks ago
#1

why do so many blame obama for "wrong directions" attributable to congress and biz? not that obama is perfect, or strong enough environmental voice, but why the focus on HIS weaknesses when the country's ills result from decades of reaganomic ignorance and meanness. and why pick on obama when clinton was the jerk who declared the era of big govt over?

again, this is not so much a defense of obama as a non-defense of all others who contribute to this ugliness?

telliottmbamsc's picture
telliottmbamsc 4 years 46 weeks ago
#2

Does "energy independence" ring a bell there with ya now Lifesize?!

2 of Obama's important dirty shale oil basins are now not even profitable even with the White House letting them completely contaminate the environment.

Which sounds vaguely familair to the situation of ObamaCare. Where, despite trampling on the People's rights (not least of which was the right to honesty, and their right to continue to see their pre-existing doctor) Insurance carriers raised prices through the roof to be profitable

http://soberlook.com/2014/11/at-current-prices-bakken-and-permian.html#ixzz3Kakwkhwa

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