Top Fed Official: 'It's Going To Take Several Years' Before Jobs Return

Top Fed Official: 'It's Going To Take Several Years' Before Jobs Return

Lets keep thinking them happy thoughts.
Better still, let's make that statement false by December.

"Presently, a record 87,897,000 Americans are not in the labor force."

That condition can be easily corrected in less than 6 weeks.
Open the wells, grab the rigs and start punching holes where the oil is.
Start laying pipe and re-opening and upfitting refineries.
Get the tankers fired up and tell the shiiteheads in the ME to go pound sand, the price of a barrel of oil is now the same as a bushel of corn or wheat.

Stuff You May Have Missed

Because the VLWM won't report it. Doesn't suit their agenda of disinformation and outright lies.

The Old Democrat Party: FDR Expanded US Domestic Oil Production

The "Drill, baby, drill!" mantra of the 2008 Republican National Convention was cynically answered by Barack Obama supporters at the Democratic Convention with: “You can't drill your way out of the problem.”

To address what President Obama called the worst worldwide crisis in living memory, the President promised hundreds of thousands of new green jobs if America abandoned its reliance on oil and gas, which he contemptuously refers to as the “fuel of the past”.

During President Obama’s term in office he will have escalated the federal debt by $6.4 trillion, 31.6 times the $202.6 billion debt the Franklin Roosevelt Administration issued to deal with the greatest worldwide crisis of all time, defeating Nazi Germany and Imperial Japan. But unlike Obama, FDR achieved victory by expanding domestic oil and gas production and delivery.

In spite of the Obama Administration, a rag tag assortment of small “wildcat” oil and gas entrepreneurs have proven that America has over 100 years’ supply of natural gas and over 50 years’ supply of oil. With Obama’s green initiatives in tatters, his new strategy seems to be taking credit for drill, baby, drill achievements, but remains fearful of the political consequences to build the pipelines to pump, baby, pump all that oil and gas to markets.

With war looming, FDR appointed Harold Ickes, former Secretary of the Interior, to select 72 leaders of America's oil industry to serve on the Petroleum Industry War Council. Ickes would later describe in his book, Fightin Oil: “as one of the great coincidences of history”, the first meeting of the PIWC was scheduled for Monday December 8, 1941, the day after the Japanese attack on Pearl Harbor. Within weeks, the PIWC had mobilized America’s 1,500 oil companies, great and small, to work amicably with the government to win the war. With full involvement of the oil industry, America began massive drilling and quickly developed the technical capabilities to refine huge quantities of gasoline, including the 100-octane grade needed for aircraft.

To get energy supplies from Texas to the East Coast refiners to fuel Atlantic supply convoys, the industry in one year built the two largest diameter pipelines in the history of the world, the Big Inch and the Little Big Inch. During the war, U.S. oil companies delivered 6 billion out of a total of 7 billion barrels of oil consumed by the Allies. The Army-Navy Joint Chiefs of Staff wrote a letter to the PIWC in 1945 stating that “at no time did the Services lack for oil in the proper quantities, in the proper kinds and at the proper places.” Field-Marshall Von Rundstedt, commander of Germany’s Western Front, attributed Germany’s defeat to three factors involving oil: (1) Allied bombing (2) Allied naval bombardments; and (3) Germany's gasoline deficiency.

For three years the Obama Administration energy policy focused on pouring $60 billion into alternative energy; while limiting U.S. drilling off the Atlantic Coast, Florida Gulf Coast, Gulf of Mexico, Arctic National Wildlife Refuge and federal lands in the Rockies. Due to these policies, the average price per gallon of gas just hit an all-time-high for this time of year at $3.84 a gallon.

I may be waxing nostalgic, but in 1972, I was paying $0.36 a gallon for high test gasoline for my '66 Mustang. My grandaddy used to bitch about the price because he paid $0.25 a gallon for his '54 Chevrolet Sedan Delivery. In 20 years, the price of a gallon of gasoline at the pump only increased $0.11.

In 20 days, the price of a gallon of gasoline at the pump has increased twice that.

Jobs-Drill-Jobs-Drill-Jobs-Drill

Heritage Morning Bell
Obama's Anti-Energy Policies Are Bankrupting America

Randall Stilley has witnessed firsthand the Obama administration's job-killing agenda. As the president and chief executive of Seahawk Drilling, he had to lay off 632 employees before filing for bankruptcy -- a direct result of President Barack Obama's anti-energy policies.Stilley's company owned and operated 20 shallow-water rigs in the Gulf of Mexico. The lack of energy production -- a consequence of Obama's drilling moratorium and subsequent "permitorium" -- led to Seahawk’s demise. Now he's speaking out, sharing Seahawk's story in a new video from Heritage and the Institute for Energy Research. (Click to watch.)

It's an unfortunate example of how policies in Washington are harming American jobs and also squelching energy production at a time when consumers are paying $4-per-gallon for gasoline.Fortunately, not everyone in the nation's capital is content with higher prices and fewer jobs. Today the U.S. House considers the first of several bills that directly addresses energy and jobs. Lawmakers will vote today on legislation that requires the Obama administration to conduct oil and natural gas lease sales in the Gulf of Mexico and in the waters offshore Virginia.

It's a welcome change from the anti-drilling policies first imposed by the Obama administration one year ago. On May 6, 2010, the first moratorium on Gulf drilling took effect, followed by a longer ban that lasted until October. But even after it was lifted, few deepwater permits have been issued.

The long-term implications are disastrous for America. That prompted House Natural Resources Chairman Doc Hastings (R-WA) to pursue a remedy through legislation. Today's vote would ensure that companies continue energy development by requiring lease sales. Two other bills would speed up the permitting process and craft a long-term plan for offshore lease sales."What we're proposing is to lower gas prices, create American jobs, which ironically will help drive up government revenues, and ultimately, in the wake of all the turmoil we've seen in the world, create an environment in which we are energy independent or on a path to energy independence," Rep. Peter Roskam (R-IL) explained yesterday.

Even without the president's signature, the legislation has already had a positive impact. After it passed in committee, the Obama administration promised to hold one lease sale in 2011. (Ever since 1958, there has been at least one lease sale every year.) But while one lease sale is better than none, Hastings isn’t satisfied. He wants the Obama administration to hold four lease sales before June 2012 -- including one off the coast of Virginia.

Aside from creating new jobs and discovering new sources of energy, the lease sales contribute a substantial sum of revenue for the federal treasury. In 2008, the offshore industry paid $9.4 billion for bids on new leases. Last year, that figure dropped to $979 million in lease bids.

The drop in revenue is a reflection of the Obama administration's anti-energy policies. And lease sales are only part of the equation. According to the government's own Energy Information Administration, production in the Gulf of Mexico will drop by 190,000 barrels per day. That means less money from royalty payments on offshore rigs as well.

Faced with mounting criticism, the Obama administration has defended its policies as a safety precaution following last year's oil spill. But one year later, the Bureau of Ocean Energy Management, Regulation and Enforcement is issuing drilling permits at such a slow pace that it's hard to swallow the explanation.

At the same time, the Obama administration and Democrats in Congress are seeking new ways to penalize energy businesses. As Curtis Dubay and Nick Loris write on The Foundry, a proposal from Senate Finance Chairman Max Baucus (D-MT) would significantly increase taxes paid by U.S. oil and gas companies competing abroad -- exactly the wrong approach with gas prices on the rise.

Meanwhile, job creators like Leslie Bertucci and Randall Stilley continue to bear the brunt of the Obama administration's misguided policies. Bertucci, who told us last month about her company's struggle to survive, has dipped into personal savings to avoid layoffs.

Stilley didn't have that option at Seahawk. And he's not optimistic about what the future holds under this administration."As an American," he told us, "you never want to look at your own government and say they’re hurting you personally, they're hurting your business and they're doing it in a way that's irresponsible. I'm not very proud of our government right now and the way they handled this."

Unfortunately, thats exactly what this administration is doing.

If Something Isn't Done Soon....

...we'll be working to drive instead of driving to work. I have come to the conclusion that the government is deliberatly attempting to break the working middle class. Eliminate our disposable income by jacking up the cost of making a living.


Block, Delay, & Tax: Hastings Outlines the White House Approach to Stop American Energy Production
by Don Seymour

With gas prices on the rise and job creators plagued with uncertainty, Natural Resources Committee Chairman Doc Hastings (R-WA) writes in Roll Call that “House Republicans have heard the American people’s demand for increased American energy production and we’re ready to act.”

The Obama Administration, on the other hand, “has never missed an opportunity to block access to our American energy resources,” says Hastings. He says the White House approach to stopping American energy production is to “block, delay, and tax” – and the result has been higher prices and fewer jobs:

BLOCK: “When President Obama was elected,” Hastings says, “nearly all of our offshore areas were open to offshore drilling. Since then, President Obama has systematically locked-up the entire Atlantic Coast, the Pacific Coast and much of Alaska — preventing the creation of over 1.2 million jobs.” CNN released a survey showing seven in 10 Americans back expanded offshore energy production.

DELAY: “The Obama administration has delayed permits for renewable energy projects, such as wind and solar, on public lands,” and “first delayed and then significantly altered the oil shale research, demonstration and development (RD&D) lease program.” It is also “slow-walking permits for production in Alaska’s north slope.” A recent Congressional hearing showed job losses continue to mount due to this de facto moratorium on energy production.

TAX: The Administration “was out front and center pushing for a job-destroying cap-and-trade national energy tax” (which, he notes, even the president said would make energy prices “necessarily skyrocket”) and is “advocating for increasing taxes on American energy producers.” Hastings notes that “the White House has admitted this will do nothing to lower gasoline prices.” (emphsis mine)

Read the whole op-ed by Chairman Hastings here.

Click to learn more about the American Energy Initiative and here for legislation on the House floor this week that will help address rising gas prices, increase energy production, and create new jobs.

Statement From Speaker Boehner

Speaker Boehner:
Facts Simply Don’t Match Obama Administration Statements on American Energy


WASHINGTON, DC – House Speaker John Boehner (R-OH) issued the following statement after President Obama held a press conference on energy and gas prices:

“Rising gas prices are a major burden for American families and small businesses already dealing with a tough economy. While the Obama Administration claims to be committed to American energy production, the facts and its own actions say otherwise. Yesterday, the new House majority announced the American Energy Initiative, an ongoing effort to stop Washington policies that are driving up gas prices and expand American energy production. To address rising gas prices, reduce our dependence on foreign energy, and help create American jobs, we invite President Obama to join us in turning this plan into action.”

NOTE: Under the Obama Administration, domestic oil production has dropped by 16 percent versus projected levels, and future projections show continued decreases in domestic production. The Administration has also shut down energy production in the Eastern Gulf of Mexico and off the Atlantic and Pacific coasts.

I Hate To Keep Repeating Myself

Not really. Hopefully, if enough people hear it and realize just how independent we COULD become, they'll stand up and demand the Bambi Administration allow drilling.

What Country Is Sitting On The World's Largest Untapped Oil Reserve?

The United States is again, for the second time in less than three years, being reminded of its absurd dependence of foreign sources of energy, most notably, oil. The upheavals in the Middle East have driven up the cost of a barrel of oil into triple digits as it was in 2008. The increasing demands of countries such as China and India and the deliberate devaluation of the dollar by the Federal Reserve and the Obama administration are steadily pushing up oil prices in dollars.
The country's dependence of foreign sources has increased to 52% of the daily requirement as compared to 45% just 15 years ago. Over half of that amount comes from countries that are inherently unstable or ruled by despotic regimes whose interest it is to de-stabilize the United States.

More after the jump

There Is Only One Solution

DRILL BABY DRILL!!!!

How Obama Is Making Gas Prices Higher

Yesterday, for the first time since September 2008, the price of a barrel of crude oil topped $100 on the New York Mercantile Exchange. But while the recent unrest in the Middle East has had some marginal effect on rising prices, the most significant factor has been increased oil demand worldwide. That is why, long before the recent protests even began, analysts were predicting $4 a gallon by this summer and $5 a gallon by 2012. Anyone could have predicted that the recovering world economy, coupled with the continued growth of India and China, was going to push oil prices higher. So if an Administration wanted to keep gas prices down, they could have mitigated increased oil demand by increasing domestic oil production. But that is not what the Obama Administration has done. Instead of increasing domestic oil supplies, the Obama Administration has cut them at every opportunity, and Americans are now suffering because of those choices.

Back in February, when the protests in Egypt were first unfolding, Energy Secretary Steven Chu was asked what the Administration could do to combat rising world oil prices. Chu responded: "The best way America can protect itself against these incidents is to decrease our dependency on foreign oil, in fact to diversify our supply." It is now one month later and the Administration has not updated its talking points. Pressed on gas prices yesterday, White House spokesman Jay Carney said: "We are also, as you have seen over the past two-plus years, very focused on the need precisely to develop other energy sources so that we are not as dependent on foreign oil as we have been in the past." So what are these "other energy sources" the White House has been developing? How does the White House plan to "diversify supply" to reduce gas prices? The answers are corn, wind, sun, and electric cars. And they won't help a bit.

According to Heritage analysts Nick Loris and John Ligon, Obama’s energy policy consists of: increased biofuel production, increased electric vehicle production, and increased renewable power production. These are all terrible public policies. The major source of biomass production, corn-based ethanol, produces less energy per unit volume than gasoline, contributes to food price increases, costs taxpayers $4 billion to produce 2 percent of the total gasoline supply, and has dubious environmental effects. The electric cars the Obama Administration has invested in are prohibitively costly, do not fit the needs of the American consumer, and are also environmentally suspect. The other sources of energy the Obama Administration is subsidizing and promoting—wind and solar—not only make up a minuscule 1 percent of America’s electricity generation but are entirely irrelevant to gasoline supply in the transportation sector.But not only has President Obama failed to diversify our energy supply in any meaningful way; he has actually proactively moved to cut our own domestic energy supplies:

First, Interior Secretary Ken Salazar canceled 77 leases for oil and gas drilling in Utah in his first month in office. According to the U.S. Department of the Interior and the Bureau of Land Management, there are 800 billion barrels (a moderate estimate) of recoverable oil from oil shale in the Green River Formation, which goes through Colorado, Utah, and Wyoming. This is three times greater than the proven oil reserves of Saudi Arabia.

Then last summer, President Obama needlessly instituted not one but two outright drilling bans in the Gulf of Mexico. The Energy Information Administration estimates that President Obama’s offshore drilling ban will cut domestic offshore oil production by 13 percent this year.

Last fall, Interior Secretary Salazar announced that the eastern Gulf of Mexico, the Atlantic coast, and the Pacific coast will not be developed, effectively banning drilling in those areas for the next seven years. At least 19 billion barrels of easily recoverable oil lie off the currently restricted Pacific and Atlantic coasts and the eastern Gulf of Mexico.

President Obama has also failed to open the Arctic National Wildlife Refuge, where an estimated 10 billion barrels of oil lie beneath a few thousand acres that can be accessed with minimal environmental impact. Those 10 billion barrels are equivalent to 16 years’ worth of imports from Saudi Arabia at the current rate.

"The Obama Administration is repeating the mistakes of President Jimmy Carter’s failed energy policies, which marred his term and stigmatized the 1970s. They are leading us straight into another national energy disaster," Steve Forbes warned in Politico yesterday. And what would that "energy disaster" cost the American people? According to The Heritage Foundation’s Center for Data Analysis, an increase in the per-barrel price of imported crude oil by $10 in the first quarter of 2011 and by $20 in the second quarter would reduce gross domestic product by $20 billion, drop potential employment by nearly 100,000 jobs, and increase gasoline prices by 18 cents per gallon in 2011 alone.Yesterday, Carney said that "the president is extremely aware of the impact that a spike in oil prices can have on gasoline prices and therefore on the wallets and pocketbooks of average Americans."

If that is true, and if Energy Secretary Chu really has recanted his belief that Americans ought to be paying $8 a gallon for gas, then the President must completely reverse his entire energy policy so far by allowing Americans to develop our own natural resources, issuing permits in a timely manner, and removing regulatory and litigation delays on energy projects.

To Our Cousins Across the Pond

First off, while I cannot speak for everyone on this blog, I want to emphasize that I do not hold BP accountable for the blowout that allowed the oil to escape. Frankly, no one knows exactly what happened or why, and to assess blame on anyone this early in the process is either irresponsible or diabolical.

Second, please know that Bambi, aka Dr Utopia, no longer speaks for the majority of Americans. He does not like it when people make money and do not give it away to him. He was very happy taking campaign contributions from all sorts of companies and corporations, and now that he has what he wants, he no longer has a need for the capitalist system which generated those funds. He is a typical Marxist. Use whatever is needed to get the results and then do what you want.

He is also adamantly against any sort of free trade and free will. He is a snake oil salesman; a shyster; a con man. And whats up with those Dumbo ears? You ever see a set of ring hangers like that in your life? I bet he has to tape them back to keep his skinny little ass on the ground in a high wind.

I am not going to apologize for Dr Utopia's remarks concerning BP or Britain. I didn't vote for his leftist agenda and its not my fault; however we will do everything legally allowed to rid ourselves of this penis-head ASAP.

You can take that to the bank.

Let the Ass Whooping Begin

I have the list. The top five spots are occupied by His Holiness the Annointed One, "I've been involved since it started to rain...I stood in the rain before the talking heads got their umbrellas".
I'm still not convinced this was "just an industrial accident", and if I were the Governor of a Gulf Coast state, I'd be cleaning my beaches, and telling the MUCC, the COE, and the Bambi Administration to go pound sand. I'd rather seek forgiveness than ask permission.

How the White House is Making Oil Recovery Harder
Five weeks ago Escambia County officials requested permission from the Mobile Unified Command Center to use a sand skimmer, a device pulled behind a tractor that removes oil and tar from the top three feet of sand, to help clean up Pensacola's beaches. County officials still haven't heard anything back. Santa Rosa Island Authority Buck Lee told The Daily Caller why: "Escambia County sends a request to the Mobile, Ala., Unified Command Center. Then, it’s reviewed by BP, the federal government, the U.S. Army Corps of Engineers and the Coast Guard. If they don’t like it, they don’t tell us anything.

"Keeping local governments in the dark is just one reason why the frustration of residents in the Gulf is so palpable. State and local governments know their geography, people, economic impacts and needs far better than the federal government does. Contrary to popular belief, the federal government has actually been playing a bigger and bigger role in running natural disaster responses. And as Heritage fellow Matt Mayer has documented, the results have gotten worse, not better.

And when the federal government isn't sapping the initiative and expertise of local governments, it has been preventing foreign governments from helping. Just three days after the Deepwater Horizon explosion, the Dutch government offered to provide ships outfitted with oil-skimming booms and proposed a plan for building sand barriers to protect sensitive marshlands. LA Gov. Bobby Jindal (R) supported the idea, but the Obama administration refused the help. All told, thirteen countries have offered to help us clean up the Gulf, and the Obama administration has turned them all down.

According to one Dutch newspaper, European firms could complete the oil spill clean up by themselves in just four months, and three months if they work with the United States, which is much faster than the estimated nine months it would take the Obama administration to go it alone. The major stumbling block is a protectionist piece of legislation called the Jones Act which requires that all goods transported by water between U.S. ports be carried in U.S.-flag ships, constructed in the United States, owned by U.S. citizens, and crewed by U.S. citizens. But in an emergency this law can be temporarily waived as DHS Secretary Michael Chertoff did after Katrina. Each day our European allies are prevented from helping us speed up the clean up is another day that Gulf fishing and tourism jobs die.

And then there are the energy jobs that the Obama administration is killing with its over-expansive ban on offshore energy development. Experts--who were consulted by Interior Secretary Ken Salazar before he issued his May 27 report recommending a six-month moratorium on all ongoing drilling in waters deeper than 500 feet--now tell The New Orleans Times-Picayune that they only supported a six-month ban on new drilling in waters deeper than 1,000 feet. A letter from the experts protesting the use of their names to support a ban they actually oppose reads: "A blanket moratorium is not the answer. It will not measurably reduce risk further and it will have a lasting impact on the nation's economy which may be greater than that of the oil spill. We do not believe punishing the innocent is the right thing to do."

And just how many innocent jobs is Obama's oil ban killing? An earlier Times-Picayune report estimated the moratorium could cost Louisiana $2.97 billion in revenue and 7,590 jobs directly related to the oil industry. President Obama still has the power to save many of the jobs. He could reverse his decision and lift the ban. But political considerations make that impossible.

According to the Center for Responsive Politics, the President was the largest single recipient of campaign contributions from BP and its employees over the past twenty years. Therefore, the President has to put distance between himself and BP, which may be why President Obama has not spoken with BP CEO Tony Hayward one single time since the Deepwater Horizon rig exploded in April. The problem is, vilifying BP's corporate leadership does nothing to stop the spill or quicken the cleanup.

After the Obama administration refused help from the Netherlands, Geert Visser, the consul general for the Netherlands in Houston, told Loren Steffy: "Let's forget about politics; let's get it done." It's sound advice, Mr. President. Let's free local governments to clean up their shores, waive protectionist laws that keep out foreign help, and let the oil workers who can safely do so get back to work. Let's get it done.

Here's the thing...they DON'T WANT TO CLEAN IT UP!!! They need this crisis to further their agenda. How would it look if it only took a few months to get this fixed? Why, people would say, "We can fix anything. Keep drilling, but be careful this time."

They Are Drilling There Now

Or allowing China to do it 50 miles off our coast.

PERRY: America can't afford not to drill in Gulf
If we don't, hostiles like Cuba and Venezuela will

Those who disparage offshore drilling - and seem eager to ban it - ignore that the Gulf of Mexico accounts for one-third of U.S. oil production. Without domestic production, we would be spending even more on imported oil - which already is running $1.5 billion a day.

Any sensible response to the explosion on the Deepwater Horizon oil rig - and the huge oil spill that's fouling Gulf waters - needs to recognize two facts: First, the demand for oil is expected to increase. Second, America cannot suddenly stop offshore drilling.

The best place in the United States to find new oil is in the Gulf's untapped deep-water areas, in the Atlantic and off Alaska. These three new drilling areas combined hold as much as 22 billion barrels of oil, which is more than our current total estimated reserves. This oil would help meet U.S. energy needs for decades.

But if those areas are closed to oil production, we would need to import more oil from overseas, probably from countries that are nationalistic and, in some cases, hostile. Some of the countries are run by despots such as Venezuela's Hugo Chavez.

But in the grand scheme of things, the extreme left-wing nutjob enviro nazi whackos would love to see El Jefe' and Ugo come out on top.

More Marxist Style Politics

BP paid workers $12-per-hour to show up for Obama visit, be props for the photo ops
By: Mark Tapscott

Has it really come to this? Yahoo News' Brett Michael Dykes reports that BP paid busloads of temporary cleanup workers to show up as stage props for President Obama's visit to the Deepwater Horizon oil spill cleanup operations on Grand Isle.

Dykes quoted Jefferson Parish councilman Chris Roberts who said "the overnight contingent of workers was there mainly to furnish a Potemkin-style backdrop for the event — while also making it appear that BP was firmly in command of spill cleanup efforts. New Orleans NBC affiliate WDSU reports that the workers were paid $12 an hour and came mostly from neighboring Terrebonne and Lafourche parishes."

For more, go here.

Obama was enjoying a bit of a recovery in the presidential approval numbers earlier in the week, after hitting the lowest point of his presidency. You think BP also paid those four percentage points to show up for the president in the latest Rasmussen polling?

HT: Examiner contributor Glenn Reynolds at Instapundit.com.

Read more at the Washington Examiner:

Its About Jobs and Security

Sarah Palin To Obama: Time To Listen To The American People -> Drill, Baby, Drill!

As Haley notes in his article, it’s astonishing that the Obama administration is dragging its feet on offshore drilling at a time when we’re so desperate for economic recovery and jobs. It’s no surprise that an overwhelming majority of Americans support offshore drilling: it will provide millions of good jobs and billions in revenue, and it will make us more secure by reducing our dependence on foreign oil.
Mr. President, we appreciate you asking for our input. We’ve provided it, so thank you for accepting it. With no time to waste, it’s time to listen to the American people – finally – and drill, baby, drill!

Podcasts You Should Hear

Jimmy Barrett talks to John Felmy from American Petroleum Institute about offshore drilling.


Then he talks to Leighton Steward about CO2.

Repeal Corporate Taxes

This is a no-brainer.

Done in conjunction with offshore energy exploration, the revenues would be astronomical; companies would be flocking to set up; construction would sky-rocket; supporting industries would set up; the oil, coal and gas industry is the key to Virginia's budget issues.

Just think of the jobs that would be created. The increase in state income taxes. Hell, you could probably employ every able-bodied person in Newport News just in the support industry for the drill rigs and pipelines.

Kill the Bill or Kill the Jobs-Your Choice

Heritage Morning Bell-Jobs

Speaker Pelosi's Job-Killing Agenda

After a three-week holiday break, the House of Representatives returned to session yesterday, and Speaker Nancy Pelosi (D-CA) marked the occasion with an op-ed detailing her "record of achievement" and outlining her agenda for the rest of the 111th Congress. Pelosi writes: "At the halfway mark in this Congress, our priorities are clear: strengthening the security of the American people and building a new economy that offers our families lasting prosperity." But the 111th Congress is not the first Congress Speaker Pelosi has presided over.

When Pelosi was first handed the gavel in January 2007, the U.S. economy employed 137.3 million people and our nation's unemployment rate stood at 4.6%. According to the Labor Department's most recent report, the U.S. economy has shed 6.3 million jobs since then, and 10% of our workforce is now unemployed.

Speaker Pelosi goes on to claim that President Barack Obama's failed stimulus has "created or saved" 1.6 million jobs so far, but even the White House has abandoned its controversial "saved or created" jobs accounting scheme after more than 90,000 of the 640,000 jobs it claimed to create were found to be completely fraudulent.

Pelosi then touts the Cash for Clunkers program as another success despite the fact the program did nothing to create auto sector jobs, led to a crash in auto sales, and Did nothing to help the environment. Pelosi also celebrated the expansion of the State Children's Health Insurance Program (SCHIP), which only further bankrupts our states and inched us ever closer to government-run health care.

Even worse then her past "accomplishments" is Speaker Pelosi's future agenda, which basically calls for super-sizing the policy failures mentioned above. First on the agenda is President Obama's health care plan which, like SCHIP, expands health insurance coverage through the welfare state. Both the House and Senate bills achieve over half of their health insurance expansion through Medicaid, which is a welfare program. The taxes and employer mandates used to pay for the expanded coverage are going to hit small businesses hard at a time when we desperately need them to be creating new jobs to move us out of recession.

After health care, Speaker Pelosi is promising continued action on the Waxman-Markey cap-and-trade legislation, which is built on the same failed policy ideas behind Cash for Clunkers. A Heritage Foundation analysis of the Waxman-Markey energy legislation found that for a household of four, energy costs (electric, natural gas, gasoline expenses) would rise by $436 in 2012 and by $1,241 by 2035, averaging $829 over that period. Higher energy costs would also increase the cost of many other products and services. Overall, Waxman-Markey would reduce gross domestic product by $393 billion annually and by a total of $9.4 trillion by 2035.

Finally, Pelosi promises "the most sweeping reform of the financial industry since the Great Depression." But as Heritage fellow James Gattuso has previously demonstrated, the House financial overhaul bill would give financial regulators sweeping powers to control firms deemed “too big to fail” and establish a fund for FDIC to use to resolve the affairs of firms it takes over. The real-life effect of the new powers would be to signal to markets that firms are supported by the federal government and guaranteed against failure — thus leading them to take more undue risks, not less. Pelosi will have essentially created a permanent TARP.

We share Speaker Pelosi's vision for "swift action to restore accountability to Washington and opportunity for the middle class, to create good-paying jobs for our workers, to use innovation to power America in a global economy and build a strong and smart national defense." But as business owners, small and large, across the country are saying, Speaker Pelosi's big government solutions are not the answer.

End the Corporate Tax in Virginia

We'll get by without it, if handled correctly.

Governor-elect McDonnell has already indicated a willingness to explore the energy reserves off the Virginia coast.

The extraction of energy from Virginias' reserves could potentially put us in the same position as Alaska.

Governor elect McDonnell should persue this option with the same energy and determination as he demonstrated during his campiagn.

This is a states' rights issue and the federal government has no business telling any state how to handle their natural resources.