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Even The Rich Are Living Paycheck To Paycheck

Original newz story - Click here

By ALLEN EDWARDS, on December 26th, 2015

President Obama, signed a bill lifting the 40 year ban on oil exports. But will that do anything to fix the economy? The answer is no. Although the oil export ban has been lifted, that doesn’t mean a thing. It’s too late.Even the rich are living paycheck to paycheck.

That’s right. Things are too far gone now for this to mean a thing. The fact is that Obama and the rest of the gang from Washington have had many chances to change things and turn things around, but they have fought every opportunity to do so. Just like the Keystone pipeline, Obama has fought hard to kill any chances of fixing the United States.

By threatening to veto a bill greenlighting oil exports, President Obama last week sent a powerful message to Congress and to the American public: The administration is unlikely to sign off on any measures expanding fossil fuel production and sales, even if those measures carry economic benefits for the U.S. and national security benefits for key allies around the world.

With Friday’s vote, the House has set up a showdown with Mr. Obama on energy, pitting the White House’s climate change agenda against the bipartisan position that expanding U.S. oil-and-gas production, and allowing American fuel to be sold overseas, will benefit the nation.

Mr. Obama made clear in his veto threat that the administration will not go along with any legislation that furthers U.S. reliance on fossil fuels, and that stand comes despite the fact that the federal government’s own data have shown ending the oil export ban could lower domestic gas prices.

But now all of a sudden, this gets passed and signed into law on the verge of 2016. The fact of the matter is that with this ban lifted it wouldn’t make anything better anytime soon. In fact it would probably take many years to have a positive impact on the economy. But many people feel that this would actually hurt the economy even more. Many people are saying that because of this, more jobs in the oil sector will be lost and at least 1 refinery would be shut down. But no matter what, the oil industry around the world has been hurt so badly that there is no hope for recovery.

The nightmare that is currently unfolding up in Canada will soon be coming to the United States. When the price of oil first started crashing, most Americans and most Canadians applauded. Most people thought that lower gas prices would be really good for the economy. Well, it turns out that the exact opposite is true. Just like in the United States, the energy industry has been the primary engine for the growth of good paying jobs in Canada since the last recession. Up in…