Politics vs. Jobs - Obama rejects Keystone XL pipeline from Canada

It just doesn't make sense....Jobs, energy & better relations with our neighbor Canada. But then again, nothing the President does has made much sense.

OMG...Obama Must Go.

Re-Election Obsessed Obama Goes Political On Keystone
By ROBERT J. SAMUELSON
Posted 01/19/2012 Investors.com

President Obama's rejection of the Keystone XL pipeline from Canada to the Gulf of Mexico is an act of national insanity. It isn't often that a president makes a decision that has no redeeming virtues and — beyond the symbolism — won't even advance the goals of the groups that demanded it.

All it tells us is that Obama is so obsessed with his re-election that, through some sort of political calculus, he believes placating his environmental supporters will improve his chances.

Aside from the political and public relations victory, environmentalists won't get much. Stopping the pipeline won't halt the development of tar sands, to which the Canadian government is committed; therefore, there will be little effect on global warming emissions.

Indeed, Obama's decision might add to them. If Canada builds a pipeline from Alberta to the Pacific for export to Asia, moving all that oil across the ocean by tanker will create extra emissions. Then there's the risk of added spills.

Now consider how Obama's decision hurts the United States. For starters, it insults and antagonizes a strong ally; getting future Canadian cooperation on other issues will be harder.

Next, it threatens a large source of relatively secure oil that, combined with new discoveries in the U.S., could reduce (though not eliminate) our dependence on insecure foreign oil.

Finally, Obama's decision forgoes all the project's jobs. There's some dispute over the magnitude. Project sponsor TransCanada claims 20,000, split between construction (13,000) and manufacturing (7,000) of everything from pumps to control equipment.

Apparently, this refers to "job years," meaning one job for one year. If so, the actual number of jobs would be about half that spread over two years. Whatever the figure, it's in the thousands and important in a country hungering for work. And Keystone XL is precisely the sort of infrastructure project that Obama claims to favor.

The big winners are the Chinese. They must be celebrating their good fortune and wondering how the crazy Americans could repudiate such a huge supply of nearby energy. There's no guarantee that tar-sands oil will go to China; pipelines to the Pacific would have to be built. But it creates the possibility when the oil's natural market is the U.S.

There are three things to remember about Keystone and U.S. energy policy.

First, we're going to use lots of oil for a long time. The U.S. Energy Information Administration (EIA) estimates that American oil consumption will increase 4% between 2009 and 2035

The increase occurs despite highly optimistic assumptions about vehicle fuel efficiency and bio-fuels. But a larger population (390 million in 2035 versus 308 million in 2009) and more driving per vehicle offset savings.

The more oil we produce domestically and import from neighbors, the more we're insulated from dramatic interruptions of global supplies. After the U.S., Canada is the most dependable source of oil — or was until Obama's decision.

Second, barring major technological breakthroughs, emissions of carbon dioxide, the main greenhouse gas, will rise for similar reasons. The EIA projects that America's CO2 emissions will increase by 16% from 2009 to 2035. Stopping Canadian tar-sands development, were that possible, wouldn't affect these emissions.

Finally, even if — as Keystone critics argue — some Canadian oil were refined in the United States and then exported, this would be a good thing. The exports would probably go mostly to Latin America. They would keep well-paid industrial jobs (yes, refining) in the U.S. and reduce our trade deficit in oil, which exceeded $300 billion in 2011.

By law, Obama's decision was supposed to reflect "the national interest." His standard was his political interest. The State Department had spent three years evaluating Keystone and appeared ready to approve the project by year-end 2011. Then the administration, citing opposition to the pipeline's route in Nebraska, reversed course and postponed a decision to 2013 — after the election.

Now, reacting to a congressional deadline to decide, Obama rejected the proposal. But he also suggested that a new application with a modified Nebraska route — already being negotiated — might be approved, after the election. So the sop tossed to environmentalists could be temporary. The cynicism is breathtaking

Job creation at the slowest post-recession rate since the Great Depression.

When the feckless politicians start to say that we are making progress on job creation, remember that it really all comes down to the DATA....they will try to sell you some major league BS, especially the Empty-Suit-in-Residence in the White House, along with his BFF Deval Patrick (who helped him raise $2.2 Million Dollars during his visit to Boston this week) - The pair of them will try to say, " Things are getting better.."

They haven't got a clue between the pair of them....we are in a very, very deep hole and due to their foolish moves along with those in Washington, DC. We will be trying to get out of this hole for quite some time..... people's lives have been changed forever and definitely NOT for the better. Mr. Hopey-Changey wants 4 more years.....what a joke. He and his cow of a wife need to be run out of town on a rail.....

Job creation limps along after recession
By Dennis Cauchon, USA TODAY

Nearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.

The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.

In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009.

"There's still a lot of uncertainty about the economic recovery, and many companies that would like to hire are reluctant to do so because they're not confident sales will pick up and remain strong," says Jerry Conover, director of the Indiana Business Research Center.

This unique recession has been particularly unfriendly to job-seekers, experts say. "There was too much employment in housing, and that isn't coming back — and frankly shouldn't come back," says Amar Bhide, a Tufts University professor.

The housing collapse and productivity gains on the factory floor have made it hard for the economy to absorb workers without a college degree and young people generally, says Carl Camden, president of Kelly Services, a global staffing firm. Manufacturers are producing more value than ever in the USA with a fraction of the workers needed before, he says.

How the recovery is reshaping employment:

•Winners. Health care added 449,000 jobs during the 18-month downturn and 483,000 jobs in the 22 months since.

•Losers. Construction lost 2 million jobs — 1.6 million during the recession and 400,000 during the recovery.

•Biggest swing. Auto manufacturing, saved by a government bailout, had the biggest turnaround, from a 35% job loss in the recession to a 6% gain after it ended. That means 332,000 jobs lost, followed by 42,000 recovered.

Don't believe the hype - Facts point to a disappointingly slow" economic recovery....big surprise

If you listened to the Governor of Massachusetts Deval " Spend-it-all" Patrick and his buddy in the Oval Office, things are going great for Americans.....Hey, unemployment is down according to these two idjits. In REALITY, (something neither of them want to talk about), people are still hurting and the reason why unemployment is down is that people have fallen off the "official" numbers. If you aren't getting benefits, you're not counted. The Official count in Massachusetts is 8.8%.....the REAL number is closer to 15%.

Then we get to those who have a job...they are doing more as the last three years have been horrific.....Companies have eliminated raises, benefits costs are up, inflation is eating away at what income they are getting and the POLS like Obama says, "Get used to it." That was the official statement from the Administration yesterday....The President said he has little ability to control prices or help the average American family...." Get used to it"....And this feckless idiot wants another 4 years ???? If an employee at your company performed as poorly as the fool in the White House or his buddy Deval, they would have been canned long ago.

So that brings me to the point......I'll be heading overseas for work and many asked me "why?" The number one reason is that it is a good job and I'll be supporting the military. The other side is that I will be getting paid what I am worth. That is something that would likely not happen in Massachusetts as most companies don't want to pay for the experience & knowledge of a seasoned professional. They want the cheapest person they can land & work them like a dog. I'll be working long hours but I'll be making what I am worth. I know there will be people back home working the same hours but at half the pay.

That brings me back to the point....the economy is mortibund and recovering much slower than the POLS will admit....If they were honest with people, then they would have to take responsibility for the mess, something they do not want to do. I'm heading overseas to insure the economic safety that the home front cannot provide. It is a trade-off as time away from home is tough but so would slowly losing ground on all the things my wife & I have worked for over the years because others won't handle their tasks in Washington, DC or on Beacon Hill in Boston. I'll do what is needed as it is the only way forward.

I hope that people wake up and throw out the POLS who won't do their jobs or are incapable, starting with the "Empty Suit" sitting in the Oval office.


State faces 'disappointingly slow' recovery
April 7, 2011
By Megan Woolhouse, Globe Staff

Massachusetts faces a "disappointingly slow" economic recovery, a prediction that economists from several local universities and the Federal Reserve Bank of Boston called the "best-case scenario."

These economists, who constitute the editorial board of MassBenchmarks, a University of Massachusetts journal, made the bleak assessment during a recent meeting in advance of the publication of a quarterly economic snapshot off the state. The snapshot, which estimates the growth rate of the Massachusetts economy, is scheduled for release at the end of this month.

The board warned that even a slow recovery could be derailed by a variety of factors, from spreading turmoil in the Middle East, to a worsening of the European debt crisis, to sharp spending cuts and layoffs in state and local government, according to minutes of the meeting released today.

"Any of these factors, or some combination of them, could alter the course of the national and state economic recovery," the board said at its April 1 meeting. "If we are lucky and these risks remain at bay, the state is in store for a steady, but disappointingly slow recovery."

Massachusetts economy has been growing at the same pace as the nation's, which has also been disappointingly slow, the board said. The downturn in Massachusetts was softened by the state's technology industry, which did not experience the same declines as other sectors during the recession.

The board also said earlier views that Massachusetts' economy was rebounding from the recent recession faster than the nation were incorrect. The board said annually revised US Labor Department data showed that the state's economic downturn was less severe than first thought, but the state's recovery has been less vigorous than previously thought.

"The net impact of the revisions places the Commonwealth in the same place," the board said.

Total Unemployment Numbers Worse Than Federal Government's Touted Numbers...Don't believe the hype being put out by the Politicians and the Media

The BS that is being put out by the Administration and the media on improved employment doesn't tell the whole story - 11.7 Million are either on extended benefits or have gone beyond the limit and get no benefits at all....That is the real story....In a country as prosperous as ours, we have over 11 million people unemployed while the stock market roars to new heights...where & when these people will find new work and what type of job they will be offered is anyone's guess.

Total Unemployment Numbers Worse Than Federal Government's Touted Numbers

San Diego, CA (Vocus/PRWEB) March 28, 2011 Extensive data mining and research by the analytical staff of the Rhino Report indicates the actual employment trends and scenario are far from significantly improved relative to cyclical lows reached in 2009. James Brumley, chief analyst of the Rhino Report, has shared details of the true unemployment picture with the newsletter's subscribers.

Select data from the report are being made public for non-subscribers. The key concerns are:

1. While the shrinking number of initial unemployment claims has been falling since the March of 2009 high of 647K to last month's 385K, the total number of people working in the United States as of the end of February is still under the number of employed workers in late 2008. A total of 147 million people were working in December of 2007, and only 139 million U.S. residents are employed now. That's fewer than were working in March of 2009.

2. While the number of regular ongoing unemployment claims has been falling since the early 2009 peak of 6.3 million, reaching 4.3 million as of last month, the government's reported figure doesn't include the 4.4 million unemployed currently receiving emergency benefits. It also excludes the estimated 3 million who stopped receiving any benefit, yet are still not employed.

Brumley adds that even though the unemployment trend is not getting measurably better in the least, it's not inherently a reason to avoid the stock market. In fact, corporations are almost earning as much money now as they were in late 2007. The stocks in the S&P 500 are projected to be earning at record levels by the end of 2011, and have already dramatically improved since lulls in late 2008 even though the number of employed people since than has fallen.

The implication is that the market does not need strong employment to thrive, as companies have been able to squeeze more from the active workforce. To learn more about this study, the portfolio's stocks, and the site's near-term and short-term outlook, go to the Rhino Report web site located at www.rhinoreport.com for more information.

This is NOT GOOD - U.S. Won’t Recover Lost Jobs Until March 2020

OK, this is the kind of news that makes me go, Whisky Tango Foxtrot??

Think about the idea that it will take TEN YEARS for our economy to recover all the jobs we lost in the last recession - TEN YEARS - that's 120 months.

For the poor guy who is laid off or others looking for jobs, this is catastrophic. The news that the banks were "robo-forclosing" and that one woman who was at a Bank who was responsible for processing foreclosures signed over 6000 in one month (a logistical impossibility unless you didn't care to read them), this shows the true depths to which things have sunk. The Banks ginned up the system, took money for recoevry and played the system...not that all who had mortgages should have ever been given one but a lot of good people lost their homes...many through no fault other than they got laid off.

When your neighbor loses his job, it's a recession - When you lose your job, it's a depression. When we see that it will take TEN YEARS for the economy to fully recover, we all say the economy is FUBAR

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U.S. Won’t Recover Lost Jobs Until March 2020 At Current Pace
By Ed Carson - Investors Business Daily
Fri., Oct. 08, 2010

The U.S. economy lost 95,000 jobs in September, far worse than expectations for no change in employment. More Census-related temp jobs ended, as expected, but state and local governments slashed staff far more than predicted.

So far in 2010, the U.S. has added just 613,000 jobs — for a monthly average of 68,111.

Employment bottomed in December 2009 at 129.588 million — two years after peaking at 137.951 million. At this year’s pace, the U.S. won’t recoup all those 8.36 million lost jobs* until March 2020 — 147 months after the December 2007 high.

That would obliterate the old post-World War II record of 47 months set in the wake of the 2001 recession.

The current jobs slump also is the deepest of any in the post-war era, with payrolls down as much as 6.1%. They are still 5.6% below their December 2007 level.

With state and local governments likely to shed workers for at least the next year or two as budget woes continue, the hiring burden will fall entirely on the private sector.

Private employers did add 64,000 workers last month, but that was a little less than consensus forecasts and far below what’s needed.

The U.S. needs to create 125,000-150,000 jobs each month just to absorb new workers and prevent unemployment from rising. So returning to the old peak employment a decade later would hardly suggest a healthy labor market.

(Unemployment held at 9.6% last month as the separate household employment survey reported an increase in jobs. But the underemployment rate rose 0.4 point to 17.1%, matching the 2010 high.)

The bottom line: It’s quite possible that the next recession will hit before the U.S. returns to old employment highs.

*The Labor Department said employers may have cut 366,000 jobs more than previously reported in the year through March 2010. A final estimate will be issued in February. That suggests job losses were deeper than expected in 2009 and/or early 2010 hiring was weaker than previously expected. Both would suggest an even-longer return to full employment