President Trump gave a shot in the arm to American business and the American economy last week when he pulled the U.S. out of the Paris climate change agreement. Another deal made at the altar of political correctness is gone.
The private sector has brought our emissions output down to 1992 levels, while the past administration was lowering our labor participation rate to 1978 levels. These numbers are relevant when we look at what’s been going on lately in the oil sector; we have to wonder if the industry is headed into an age of stagnation—a kind of Ice Age, similar to what has happened lately in retailing. If that is true, backing away from the Paris climate deal is a good move for America and the American worker.
After President Obama signed this agreement in Paris, in the same week he signed an agreement here to allow oil companies to export oil where it would be refined in countries whose process of refining was going to make a much larger carbon footprint than American companies. No one had a problem with that because their mentality was either keep it in the ground on get it out of the country.
Such moves have had long-term consequences. For example, we see Chinese factory activity holding relatively steady, but certainly not setting any records—and below where they were expected to be. We see some growth coming out of Japan, but again it’s very slow. We are seeing very limited growth in manufacturing too, which goes back to the demand problem in the oil sector. Production continues to be relatively high, but we are not likely to see any real normalization or recovery in oil for some time, at least until we see tax reform (another headache for EU governments).
Limited Time to Act
We only have about 40 days between now and Sept. 30 that both the House of Representatives and the Senate will be in session. That isn’t a lot of time, and part of it will be occupied by the need to agree on raising the debt limit again. Republicans are stalling as much as they can so they see how all the president’s legal issues play out, and how the mainstream media is going to lead them down the path of surrender.
We can say all what we want about tax reform and healthcare, but the fact is there are no Republicans who have any kind of backbone and who will stand up and do what is right for America, the economy, or its people. Their primary concern is: if they vote on anything, could it be perceived as a vote for Donald Trump? Is that how they want to be perceived going into the next election? That is buying into the media’s perception, not Main Street’s reality.
The mainstream media has certainly given them the indication that they don’t want to do anything that looks like support for Trump. Yes, this is the same media that was convinced that the American people would never rise up to support Trump or his agenda, which the Republicans don’t seem to want to pay much attention to.
I know many diehard so-called conservatives want to continue to blame the Democrats for everything that is going on. I know this is a hard pill to swallow, but keep in mind—the last time I checked—Republicans control the House, the Senate, and the White House. If there are obstructionists in Washington, it’s the Republicans, not Democrats.
Path to Victory
It is amazing that career politicians don’t understand that if the economy is thriving;
if people have money in their pockets; if discretionary income is being spent into the economy; regulatory burdens are held in check; and the corporate tax system is incentivizing corporate America; then the one thing that the American people care about—the economy—will be clicking on all cylinders. And, they will likely get elected as they tell America that all of this happened in spite of the obstructionist behavior of the Democrats. This, despite the fact that the media has done everything it could to keep this very thing, a thriving economy, from happening.
When all is said and done, though, an Ice Age in the oil sector could be the least of our problems. If we don’t see the legislative process begin to work for the benefit of the American citizens, we are going to see an economic correction, the likes of which we haven’t seen since 2008. Just like in 2009, the government and our legislators will do everything they possibly can with, of course, the help of mainstream media to once again blame fat cat bankers, Wall Street, and (most of all) Donald Trump and his supporters.
If Republicans continue down this path, the problems in the economy will lie squarely on the shoulders of Paul Ryan, Mitch McConnell and the GOP. They will be responsible for the next radical Democratic sea change that will lead to the socialism that they have all been fantasizing about. It will be the loss of our republic.
A Golden Opportunity
Like it or not, and believe it or not, Donald Trump has given America an opportunity to start on a path of prosperity and economic development, the likes of which we haven’t seen since the 1950’s. Yet our destiny lies in the hands of Donald Trump’s own party.
It’s not the fault of the mainstream media, fake news, or Twitter. It is the same thing that was the problem during the Obama administration: lack of backbone, no will to fight, and an obsession for the Grand Old Party to stay Grand. They want to walk in their grandeur status, believing that they, and only they, know what is right for the American people, and maintain their Royal Elite status at all costs.
All of this goes on while they proclaim themselves patriots and servants of the people. They could be slowly working themselves out of the one thing they cherish most: their jobs. But, unfortunately, this will likely happen too late for America.