Friday, February 27, 2009

American Business Ought to Shun Obama's America

Kudlow nails it - Obama is waging war on American business. The answer is very simple, wage war back. Or another way to say it is simply "be sensible". Look at Exxon. They're saying, "Hey, you want to do this to us, we'll spend our money thusly."  This is not America's money...Exxon's shareholders include people all over the world - Norwegian nurses, Singporean stewardesses, Scottish school teachers.  Everybody.  Exxon owes all these people the best returns possible on their money.  Period.  I only wish that more companies would make it clear what they are doing and who is to blame.

UPDATE:  Chesapeake Energy today announced it is shutting down 7% of production.  The energy sector is in the process of going into a growth hibernation.  Obama's clean energy crusade will devalue any investments they make today, at least temporarily until some of this efforts hit the wall of economic reality, so why make them.  Hoarding cash and/or looking for returns abroad is the sensible thing to do and hope Obama energy agenda hits a wall.


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