PoliticsRx Political Prescription

When speaking of the new 2009 budget submitted by the Whitehouse, claims seem to be wildly overstated.

When taking office, the Obama Administration inherited a $1.3 trillion yearly deficit.  That includes the costs of the wars.

The new budget submitted by the Obama Administration extends that to $1.8 trillion.  That means the changes and additions to the budget come to “only” $500 billion, or .5 trillion more that what was inherited.  Not bad, considering the first round of TARP funds sought and approved by the Bush Administration was $700 billion, alone.

Posted under Energy, Healthcare, Keeping Informed, Stimulus, Taxes

According to an AP Interview, Senate Majority Leader Harry Reid is planning to tackle the issue of climate legislation, including clean energy use, ahead of the international climate negotiations in December.

AP Interview: Reid pushing for climate change bill.

Posted under Energy

According to Politico, the new stimulus package is to include $8 billion for high-speed rail, one of Obama’s signature projects aimed at energy conservation and congestion relief.

Read More: Obama plots huge railroad expansion.

Posted under Energy, Keeping Informed, Stimulus

OPEC has moved up an “Emergency Meeting” to discuss decreasing oil output, in order to reap higher prices per barrel.  Currently, they supply 40% of the world’s oil usage.  This will be interesting, especially when considering the following factors:

• If they raise oil prices too much, consumers conserve; therefore demand drops.  Drops in demand mean lower oil prices.
• Higher oil prices (by output reduction, for example) spur consumption of alternative energy sources, eating away at OPEC’s base revenue; price-parity between oil and alternative sources is also more likely, due to demand of alternative fuels, which spurs economies of scale.

Read More: Analysts: 1 million barrel OPEC cut not enough – Yahoo News.

Posted under Energy

Perhaps our lawmakers are finally beginning to think of the future: renewable energy.  Nicely attached to the $700Billion bailout.

Read More:Sustainable Development – Green News & Sustainable Business News.

Posted under Energy