In the Financial Times, typically a redoubt of establishment center-liberal conventional wisdom, Martin Wolf begins his article by asking, “Has Barack Obama’s presidency already failed?”
Meanwhile, the Huffington Post, astonishingly enough, reports, “Administration Officials Met With Laughter At Bailout Briefing.”
This news likely won’t cause much laughter among voters though, as the $4.00-per-gallon gas that Tom Brokaw and the Washington Post begged Obama for in late November and early December could become a reality all too quickly:
President Obama is shelving a plan announced in the final days of the Bush administration to open much of the U.S. coast to oil drilling, including 130 million acres off California’s coast from Mendocino to San Diego.
On Tuesday, Interior Secretary Ken Salazar ordered the plan be put on hold while his agency conducts a 180-day review of the country’s offshore oil and gas resources. Salazar’s critical comments about the plan signaled that the new administration will seek to rewrite it if not completely scrap it.
The Bush proposal “opened the possibility of oil and gas leases along the entire Eastern seaboard, portions of offshore California and the far eastern Gulf of Mexico with almost no consultation from states, industry or community input,” Salazar said at a news conference in Washington. “In my view it was a headlong rush of the worst kind.”
As opposed to the headlong rush of the worst kind “to get President Obama’s signature in place before alternate realities can intrude” on the “stimulus” bill.