Tuesday 25 January 2011

Oil Gusher Hurting Obama as Hurricane Season Moves In

President Obama and his entire administration are facing a Perfect Storm of sorts - there are several major crises growing at the same time, none of which has an end in site. In the Gulf oil disaster, an accident at the well head forced BP to pull its containment cap from the well, allowing the full flow of oil to resume flowing into the Gulf. It will likely be another day or two before the containment cap can be reinserted.

On top of that setback, the first storms of the hurricane season are taking shape in the Western Caribbean, promising to make a bad situation exponentially worse in the Gulf. The timing of the storms follows immediately on the heels of a court ruling overturning a 6-month ban that the Obama administration had levied on new deep-water oil rigs in the Gulf. At this moment, the oil well is gushing unabated into the Gulf andstorms are on the horizon.

The other fronts of the storm facing Obama include his recent dismissal of General McChrystal and a still-suffering domestic economy, recently hit with some of the worst housing market numbers on record. Fortunately for Obama, his replacement of McChrystal is a proven commodity in General Petraeus, the architect of the Iraq surge that seems to have helped in that war.

The economy is another issue altogether and only time will tell how things shape up there. With the struggles in Europe and general instability at the global level, the U.S. is likely months if not years away from having a firm handle on exactly where things stand. The oil debacle in the Gulf can't get fixed fast enough to save incumbents in the upcoming election and there will likely be substantial changes in government leadership. Summer is barely underway and you have to think that President Obama is longing for it to be over.

Blue Crabs May Hold Clues to Extent of Gulf Oil in Seafood