Driving County Roads

An on line journal sharing my views. The content reflects my background as a rural person employed in agriculture and as a retired elected official of local government.

Thursday, July 01, 2010

A NEW KIND OF STIMULUS

As awful as the oil spill is, it seems to me that this tragedy has some redeeming side effects. The news is reporting that BP is employing 25,000 workers who are working twenty four-seven. These people are being gainfully employed and the wages they receive is "new" money as opposed to tax payer money. This money is pouring into our economy -just like the oil is pouring into the Gulf. This is creating jobs and it seems like that word is being used a lot by both the President and the Congress. Jobs are a good thing.

This terrible accident is bringing a new kind of stimulus to our economy. Granted, this is not the chosen route, but we have to play the hand we are dealt. A recent newspaper account indicated the amount spent so far is $2.65 billion. Some of these dollars are in the form of payments to businesses who have suffered a loss of income from the disaster.

There has been some speculation that this clean up will bankrupt BP and then we will be left to finish the job. A Channel 4 piece visited with a Metro area attorney who was involved in the Exon Valdez incident. His feeling was that BP will never go bankrupt because they deal in oil - not just in the Gulf, but all over the world. And as long as we have this insatiable appetite for oil, BP will be there doing business and making big bucks.

It is discouraging that the President and our Congress folks do not use this event to advocate for alternative fuels. I do not think President Obama knows how to pronounce Ethanol. end

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home