Holding BP responsible was fair enough, and nobody was rushing to defend the company. However, Salazar and his boss, Barack Obama didn’t stop there. Salazar quickly imposed a permitting moratorium that essentially shut down the gulf. Louisiana Governor Bobby Jindal and Democrat Senator Mary Landrieu as well as other elected officials immediately objected saying it would devastate the gulf economy far beyond the already significant impact of the well explosion, particularly to the energy, fishing, and tourism industries.
Eventually, U.S. District Judge Martin Feldman overturned the moratorium and ordered Interior to begin permitting according to existing regulations. Salazar re-instated a second moratorium within days, which caused Feldman to find him in contempt of the previous court order noting that the Administration had shown “determined disregard” for the court. In a separate ruling, the court found that new regulations imposed unilaterally by Salazar also violated his authority and federal law and struck them down, as well.
Obama extorted $20 billion from BP to fund an escrow damage account without constitutional authority or judicial foundation. Columnist George Will was appalled. The use of "raw political power, without recourse to courts that exist for this sort of thing, under laws, with due process, essentially confiscates $20 billion from a publicly held corporation, about half of its shares held by Americans, to be dispensed, again, without judicial supervision, as the political branch sees fit" resembles the action of a tyrant ruling a "Northern Hemisphere Venezuela" rather that the United States of America Will said on the ABC News program, This Week.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 28th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 25th, 2014 | John Ransom