Hey, welcome back, Rush Limbaugh behind the golden EIB microphone at the heavily fortified and well bunkered EIB Southern Command.
Great to have you here.
Telephone number is 800 282-2882.
The email address L Rushball at EIBNet.com.
Well, the AP has done a fact check of Obama's speech last night.
It's a selective fact check.
But it is it is here, uh, ladies and gentlemen, that uh Admiral Thad Allen was first Michael Brown's deputy at FEMA during the beginning of the Katrina crisis.
Admiral Allen was given full command of the Bush administration's Hurricane Katrina on-site relief efforts once Brown was removed from that position.
It's funny how the media never mentions this detail.
But the point meant, nothing against that allen.
I mean, don't misunderstand here.
I'm not.
But but they're out there blaming Bush, Bush, this, Bush, that, childishly so.
And their point man, the spokesman, was number two behind Brownie, if in the post-Catrina era.
The Heritage Foundation today, the morning bell, a crisis of competence.
Nearly 31 years ago, July 15, 1979, President Jim McCarter told the American people from the Oval Office energy will be the immediate test of our ability to unite this nation, and it can also be the standard around which we rally.
On the battlefield of energy, we can win for our nation a new confidence, and we can seize control again of our common destiny.
That is almost verbatim what Obama said last night.
Almost the exact same speech.
Obama said, I've returned from a trip to the Gulf Coast to speak with you about the battle we're waging against an oil spill that's assaulting our shores and our citizens.
The tragedy unfolding on our coast is the most painful, powerful reminder yet that the time to embrace a clean energy future is now.
Now is the moment for this generation to embark on a national mission to unleash America's innovation and seize control of our own destiny.
Jimmy Carter ended, and we can seize control again of our common destiny.
Let's go back and listen to Obama last night from the oval orifice.
The one answer I will not settle for is the idea that this challenge is somehow too big and too difficult to meet.
You know, the the same thing was said about our ability to produce enough planes and tanks in World War II.
There's some who believe that we can't afford those costs right now.
I say we can't afford not to change how we produce and use energy.
Because long-term costs to our economy, our national security, and our environment are far greater.
I will not settle for the idea that this challenge is so who's saying it's too big.
Here's the straw man argument again.
Who's saying the challenge is too big and too difficult to meet?
Who is saying this?
Has anybody thrown up their arms?
Sorry, we can't do anything.
Live with it.
Nobody has said that.
Same thing was said about our ability to produce enough planes and tanks of World War.
Who said we couldn't produce enough planes and tanks in World War II?
Who said we couldn't?
We did it.
Jimmy Carter, July 15, 1979, at the Oval Office.
This is now, this is from what is now called the Crisis of Competence speech or the Malays speech.
This is what Jimmy Carter said.
Just as a similar synthetic rubber corporation helped us win World War II.
So will we mobilize American determination and ability to win the energy war?
These efforts will cost money.
A lot of money.
And that is why Congress must enact the windfall profits tax without delay.
It will be money well spent.
I will urge Congress to create an energy mobilization board, which, like the war production board in World War II, will have the responsibility and authority to cut Through the red tape, the delays, and the endless roadblocks to completing key energy projects.
I told you it's the second term of Jimmy Carter, and it's liberalism 100% through and through.
Jimmy Carter, 1979, July 15th, same speech.
The problem back then was an imagined oil shortage.
There wasn't a shortage, it just exports were being diverted away from us.
And Jimmy Carter, of course, we have then the uh the Iranian hostage crisis.
But synthetic rubber corporation costs a lot of money.
We need a lot of money, spend a lot of money, war production war, World War II.
It's all there, everything he said Obama repeated last night, and the same call to action.
Well, we had this call to action in 1979.
You know how long ago 1979 ago is.
Well, 1980 to 2010 would be 30 years is 31 years ago.
Jimmy Carter prescribed the same fix.
Here we are 31 years later, almost to the day.
Another left-wing liberal ideologue with the same solution to a problem that they have no clue how to fix.
This is the kind of stuff, and as a thinking person, I'm sure it's the same thing with you.
Thinking individuals.
Why is it?
Well, I know the answer to the question, but still frustrating.
Why is it anybody pays any of these people any mind?
Why?
It's because two things.
They got a media that makes them seem like they're the majority and doesn't tell the truth about them, and they somehow own this notion that they're the ones who are compassionate, tolerant, uh, inclusive, and all that.
And it's just it's all of it's absurd.
There's nothing new about who these people are.
This just happens to be the most current iteration of them, and in this case, Jimmy Carter was a bumbling fool.
We don't have really a bumbling fool here.
We got somebody who looks like one when he makes a speech last night.
But I'll I'll guarantee you everything this guy has in his head that he wants to see is his roadmap to the future.
It's happening.
We're on the road, we're on his road, and we are speeding down that road.
White House spokesman Robert Gibbs billed the speech as an inflection point, where the president's initial response will be replaced by more decisive action.
But this is day 57.
Where is this decisive action?
Where's it been up to this point?
The regime has not been working in a coordinated fashion.
The EPA, the Department of the Interior, Homeland Security, and the White House, as well as a Coast Guard, have been putting out confusing and contradictory statements since the disaster began.
Federal regulatory red tape has gotten in the way of the cleanup, including missed opportunities to burn off more of the oil because of overblown air pollution concerns, holdups in the use of dispersants, permit delays in allowing the state of Louisiana to create artificial barriers,
failure to wave regulatory prohibitions against foreign assistance, that'd be the Jones Act we told you about yesterday, and failure to approve barges and booms in time to block oil from reaching Alabama's Magnolia River.
I I just I don't want to hear anybody say they care.
And they move fast, and they've been on this from day one, because there's no evidence to support it.
Instead, instead of providing leadership and properly coordinating the response, the regime has chosen to shift blame and politicize the disaster.
They've done this.
Shots at the Bush administration for the state of the minerals and management service, vague threats of criminal prosecution from Eric Holder, a moratorium on offshore oil drilling here and in Alaska, which could kill a hundred twenty thousand jobs in the Gulf alone.
And they're let me tell you what's going to happen.
If if this if this moratorium on drilling is serious and he doesn't repeal it, these rigs are going to be abandoned, and these companies will set them up somewhere else.
They're going to make a deal with Hugo Chavez.
They'll make a deal with whoever's over in Nigeria.
Wherever they can go, they're not going to let Obama put them out of business.
120,000 jobs in the Gulf are at risk here because of a policy.
A policy as inane as grounding all airliners after a crash.
A policy as inane as suggesting no more airplanes are going to be built when one crashes.
And this is not the worst oil spill ever.
I had a, I still got it.
I'm I'm reluctant to use it.
There is a great story that puts the uh size of this spill in amazing perspective.
I'm hesitant to use it because people will say, oh, so you're saying it's no big deal.
Well, no, I'm not saying it's no big deal because it's very real to the people whose lives are being profoundly negatively affected by this.
But in terms of oil spills, we're not even close to the largest one, which is also in the Gulf.
Mexico, Eichstock 1, early 80s, we've recovered from it.
I've mentioned it countless times.
But even that is not what I mean.
The perspective on how much oil is in the Gulf compared to how much water is in the Gulf.
I think I'll do it.
I think I'll dig it out of the stack here and I'll show it to you.
And the reason for mentioning this is to show something positive about this.
Because, as is the case in every disaster, we get it amplified.
And we lose perspective on this, and keeping perspective is part of fixing it.
Keeping perspective is called remaining rational about it.
Nobody does anything properly or productively in a panic.
So I'll find that.
I'll do it.
We'll be right back.
Don't go away, and we'll get to your phone calls after that, so sit tight.
Now to put this in in in layman terms uh simplified.
Most, well, if not most, many of the delays in getting started on dealing with this gusher, were caused by the very overregulation that they're saying we need more of.
Paperwork, now we had to get past the Jones Act, and we didn't like the paperwork filed by the Netherlands and so forth.
Uh Bobby Gentle wanted to build a sandburns now need paperwork for this, all of these regulations.
Right now there are 33 high-tech oil rigs in the Gulf of Mexico as we speak.
And they will all go away if this moratorium is permanent.
They are not going to sit there and take it in the shorts and go out of business, despite Mr. Obama's efforts.
They will go elsewhere.
And our prices for energy are going to skyrocket.
Stansbury and Associates puts that as an investment research outfit.
And they put out uh last week, while I happen to very very soon to when I was coming back, it's June 14th.
A following piece.
Let's talk about BP.
Some of the world's top value investors have begun to buy shares of BP based on their estimates of what the Gulf cleanup will cost compared to the enormous cash flows of the company, roughly $30 billion annually pre-tax.
Our friend Whitney Tilson, one of the most respected value-oriented hedge fund managers in New York, even says that BP won't have to cut its dividend.
We doubt that Tilson's correct about the dividend, but he makes a few excellent points about the scope of the disaster in contrast to the media hype about the spill.
Now, I want you to be clearly understanding of what I'm doing here.
This is not to minimize it.
This is once again to provide you evidence that the media reporting this and this administration dealing with it is hyping this to a crisis way beyond its proportion.
If we lose rationality on this, we're not going to properly deal with this.
Panic never leads to an effective result.
It is a horrible accident.
But you don't have to clean up the entire Gulf of Mexico.
The Gulf of Mexico is huge, 1,615,000 square miles containing 660.
Listen to this.
660 quadrillion gallons of water.
There's no way of conceiving of that amount of anything.
660 quadrillion gallons of water.
Let's compare this to the amount of oil deepwater horizon has been leaking.
Most estimates are in the 12,000 to 20,000 barrels per day range.
So let's take the high end, and let's also assume that this continues until mid-August, meaning four months since the accident.
Let's also assume that the cap captures no oil.
The latest reports are that it may be capturing some of it, but let's be conservative.
Let's say the whole effort fails.
So we have 20,000 barrels a day times 120 days times 42 gallons per barrel equals 100.8 million gallons of oil released by August.
Are you with me on this?
100.8 million gallons of oil released, assuming none of it's captured through mid-August.
108 million divided by 660 quadrillion is one gallon of oil for every 6.6 billion gallons of water in the Gulf.
That is the equivalent of roughly one millionth of an ounce of oil in a typical bathtub full of water.
I'm going to run through this again.
We're going to assume here that no oil is collected and the spill is 20,000 barrels a day, and it may be more than that, but but use the numbers that we've been given.
20,000 barrels a day, none of it collected through August.
There are 660 quadrillion gallons of water in the Gulf of Mexico.
So 20,000 barrels of oil a day times 120 days, that's four months since the spill, times 42 gallons.
That's how many gallons are in a barrel.
That equals 100.8 million gallons of oil released.
And that's not good.
Don't misunderstand.
Now wherever it ends up on the Gulf on shore, any good.
It's not good.
Don't misunderstand me.
108 million gallons of oil divided by 660 quadrillion gallons of water is one gallon of oil for every 6.6 billion gallons of water in the Gulf.
One gallon of oil, not barrel, one gallon of oil for every 6.6 billion gallons of water in the Gulf.
That is not to make to bring this down to a size that everybody can understand.
That is the equivalent of roughly one millionth of an ounce of oil in a typical bathtub full of water.
That's how compared to the now the perspective here is people are saying it's going to take forever to clean up the Gulf of Mexico.
It will not.
Most of the Gulf of Mexico, the water volume, will not be affected.
In fact, a lot of the oil that they say, these plumes that they're talking about beneath the surface 100 miles away and 24 miles long, at some point is going to be dissipated.
It's going to be eaten alive.
And they're going to cap this by August anyway with these relief wells.
Now I only mention this because we see the Gulf of Mexico on a flat map, and we see in relation to the country a relatively small body of water.
We don't see the depth.
We have no concept of the amount of water in the Gulf.
But we see the video of all the oil spewing out of that rig, out of that blown hole.
We see that all the time.
And we see in that TV frame, 90% of what we see is oil and 10% is water.
And all of this creates a mental image that the total destruction of the Gulf of Mexico and every life form in it is either imminent or has already happened.
It is the equivalent through August, not today, through August at 20,000 barrels a day of having one millionth of an ounce of oil in your full bathtub.
I would say you get in the bath, you get in a bathtub with an ounce or millionth of an ounce of oil in there, and by the time you soap yourself up and do all you do to the water, the oil's going to be taken care of, along with the oils on your body that will wash off as well.
Now, this is not, do not misunderstand, this is not to minimize all the damage that's being done to people who make their living offshore.
That's real and it's destructive, and this leak needs to get fixed as quickly as possible.
But I I always strive to have everybody try to keep rational, be rational in these circumstances.
This is what's been missing in the global warming argument.
If you take a look at the proportions I just gave you, and transfer it to the whole global warming argument, the Earth's climate, the atmosphere, uh, including the oceans, the land mass, is so complex and so massive we can't conceive of it, and yet they had people believing that driving around a General Motors Yukon SUV was gonna destroy it.
Or lighting a charcoal barbecue pit.
They had people believing it, just as they have people believing that drilling for oil offshore is gonna destroy the Gulf of Mexico.
It will not.
And we have a president who's gonna put a moratorium on all drilling, which is obscene, it is insane, it is absurd.
We have 33 rigs out there, and he's gonna effectively end up putting them all out of business.
Just as if an airplane crashed and we shut down the airline industry.
All because of a an imagined volume of destruction which will not happen.
And this spill, to this date, smaller than the Mexican spill in 1980.
All right, just a couple more statistics here, and I promise, I promise we'll get to the phones.
I really, really mean it.
Friend of mine, Lord Rosso, sends me a note with an interesting observation.
Now that British petroleum, it's actually BP, British petroleum is no longer the name of it.
Now that now that BP is going to turn over 20 billion dollars to the regime in escrow money.
Why, that's great news because now the Obama regime can be blamed for all the delays and bureaucracy that'll be inflicted on the people in the Gulf.
It's this 20 billion dollars in escrow money that is ostensibly to be used to uh help people who are losing their livelihoods because of the oil spill.
But guess who's in charge of doling it out now?
The regime.
Ha!
So wait till you people in the Gulf start trying to get your share of the 20 bill, you gotta go through the regime to get it.
That's that's actually it's unfortunate.
It is sad.
Because it's just gonna be more and more red tape.
Now, this I keep talking about the Mexican spill.
It's 1979, actually, and it's it's it's spelled I-X-T-O-C.
Now, depending on how you want to pronounce it, Ixtock, Ishtoc, and on in some in some uh Spanish uh uh words, the X is an SH.
It's IX T O C pronounce it however you wish.
And the the BP of the day in this oil spill was a company called PMEX.
P E capital M-E-X.
The PMEX Ixstock oil well, 1979, far worse than the Deepwater Horizon well.
140 million gallons of oil poured out of that well.
After four months, an oil slick had covered about half of Texas 370-mile Gulf shoreline, devastated tourism.
1979.
This spill, and and by the way, uh it infested sea turtle and habitat, uh, all kinds of bird habitat, and it's back to normal now.
It's 1970.
It took 10 months to stop that leak.
It took 10 months to stop that leak in 1979.
They never, and here's you want the PS derezistance, they never, to this day, they don't know what caused it.
1979 to this day, they do not know what caused the Ikstock 1 leak.
PMEX, the company, the BP of the day, they it was state-owned.
They never figured out what caused the leak.
Now, what are we doing?
Well, the president said that we're gonna wait till we find out the cause of the BP leak before we ever allow exploration for new offshore drilling.
Well, all right, fine and dandy, but they still don't know what happened to the Ix stock leak.
They stopped it, but they don't know what caused it.
If Obama had been running Mexico, they would be out of the oil business to this day.
Now, Snerdley said, How much did PMEX pay?
PMEX, state-owned, paid 100 million dollars of the cleanup.
They gave no money to the United States, no money to Texas claiming national sovereignty.
PMEX paid nothing.
The damage that that well uh rupture caused to Texas would be the equivalent now of BP saying, hey, you people in Alabama and Louisiana, Mississippi, you.
We're a British company.
We're gonna invoke our sovereign.
We're not gonna pay you anything.
We'll give 20 billion dollars to your regime and you can deal with them, which in effect is what's happened.
But these two are nothing compared to Kuwait.
During the first Gulf Wall, ten times ten times as much oil spilled into the Persian Gulf, which is one-sixth the size of the Gulf of Mexico.
And what were the long-term consequences?
Well, there was a 1993 UNESCO study, United Nations, that reported little long-term damage was done to the environment.
Half the oil evaporated, a million barrels are recovered, and two million to three million barrels washed ashore, mainly in Saudi Arabia.
So, yeah, it's bad and it's very unfortunate, and it's just it's terrible.
It's terrible.
It's doing this to the people of Gulf of Mexico.
It's even more terrible that we got panic and we got a regime using this instance to advance a political agenda rather than put the really best minds we have together to try to solve this.
We've rejected people who've nations who've offered to help who are experts at doing this.
No different than if we had an earthquake here and they wanted to help us there, we said, get out of here, we can handle ourselves.
All right, let's go to the phones, because I've been promising.
So we're gonna do it.
We're gonna start in the uh the Garden State Parkway with Julie.
Welcome to the EIB network, and I really thank you for your patience.
Oh, hi, Rush.
Uh, first of all, congratulations on your marriage and best wishes to you and Catherine.
Thank you very much.
Uh I've been a long time listener, and uh I agree with you on so many things.
One thing that I do not see Obama as, and that is a leader.
I have found that from the beginning of his uh presidency, there's been what I see what I would call an underlying theme of of his governing style.
There's a pretty clear pattern to me.
Uh, and this has to do with all his policies from terrorism to the economy to the military, and that is how much he does will have a crisis.
Um, yeah, I call it destabilization, and uh that leads eventually to chaos and ultimately to uh what he loves above everything else, and that is control of power, which you can read as control of our money.
Um I I do not consider him a leader at all, regardless of what his uh law degree is or where he wants to score.
I don't see him as a leader.
Um I think he's pretty much uh maybe even an empty suit.
Uh his his phonies will defend him and say that he uh doesn't maybe he's not a leader because he does a lot of delegating, which is fine, but I believe that a true leader will take the bull by the horn in a time of crisis.
Um I I don't even see this when he's reading to the people of the United States When he's giving his his speeches.
I mean, he sounds okay, although I think he sounds a little robotic, but um he has unscripted messages, which are the ones that really come from the heart.
Well, but you know, you said at the very beginning here, you really I think you you touched on it uh better than than than uh anything else when you said that he's he's he's come to destabilize, he's destabilizing the country.
I actually I actually think what's going on here is uh dividing the country.
He's come to divide, not to uh not to unify.
I don't think there's any any uh any question about it.
I'm glad you I'm glad you called thanks so much, Julie.
Appreciate it.
Here's Yvonne in Tampa, your next on the EIB network.
Great to have you here.
Hey, Rush, I just had a quick question.
Um I don't understand why his poll numbers are so high.
I would expect them to be in the 30s, and and I don't understand why they're holding up of about 50 that approve of him.
Well, I don't where where do you see a 50 percent approval number for Obama?
Gallup's got him down to 46.
He's at 42 percent of Rasmussen a day.
Uh I don't see him above 50 percent or at 50 percent in any poll.
Maybe and there may be one, but uh you can get anything you want out of a poll, and depending on how you wait, I mean if you want to if you want to have more Democrats than Republicans or independents in your uh in your respondent field, you can do it that way.
But I I I don't I don't think there's anybody enamored of the guy anymore.
Not clearly not the way they were during his campaign.
Okay, I just been wondering if people just haven't had the impact of his policies hit them directly yet, and that's why he'd even be where he is.
I I really am surprised he's not down in the 30s, especially with how he's handling the wheel.
Well, there's a there's there's a reason why Bush ended up down in the 30s, and it's not happening here.
And we just got a little tickle of it yesterday.
But for six years, the media did their level best to destroy George W. Bush.
They tried to tell us we were in a recession when we weren't.
They tried to tell us we were in a losing war when we weren't.
It was one negative drum beat after another.
And after a certain passage of time, it worked.
There hasn't been that with Obama.
There hasn't been any of the similar criticism of Bush.
There hasn't been any accountability.
There has been no effort to uh to to be suspicious of the power that's being amassed here.
Only last night, after this speech, has there been a real indication that some in the left wing media here are just non-plussed and bamboozled over all this.
Now, if that were to keep up, and I don't expect it to, if that were to keep up, you would see an approval number that uh continues to plummet.
I think the fact he's 42 Rasmussen, 46 gallop, and continuing to fall uh is striking, considering that the media has been doing everything it can to prop him up.
So I wouldn't worry about it.
I don't you you talk about people having been personally affected.
My gosh, how many people who own homes who own stocks, how many people who out of work and want to work there's a try, there's nothing good going on out there.
So I I I I think that uh you can look at all the by the way, the polling data on the elections in November, the generic ballot, Republican versus Democrat, it's looking like a bloodbath right now.
So I I think the bloom is way off the rows, and these uh remember polls are used to make news not reflect anything.
And so you have to keep all that in perspective.
There's a clear difference in the way media covers Democrat or Republican presidents, the way they poll them.
Clear difference.
Be right back after this.
For those of you who are also curious about Obama's approval numbers in the polls, don't forget now 46%.
Or so, approximately 46% of the American people get benefits from the federal government.
So that is a factor.
It's it's gonna be pretty hard to get his numbers much lower than that without a drastic one hundred degree turn or one hundred and eighty-degree turn by the media.
For example, if Bush were president, we would be getting live shots of the oil gushing and on a split screen Bush playing golf.
Had Bush delivered a speech from the Oval Office last night on the oil, Well there'd be a split screen screen of the of the gusher while Bush was making his speech.
We're not gonna get that with this media.
We're not gonna get split screens of the oil gushing while Obama's out playing golf or shooting hoops or drinking bushwhackers down in the Gulf or delivering speeches from the Oval Office.
And you also uh Cybercast News Service today with a news story out that really the the only groups of people that still give Obama majority approval support are uh people that make uh less than $2,000 a month and about 90% of the African American vote.
And that's enough to keep him at 42, 44 percent, 46% receive government benefits.
So it's it's not hard to understand, and that could be brought lower if we got conventional Republican coverage by the media in a situation like this.
We're not gonna get it.
But don't worry about it, folks.
Country knows.
The country knows.
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Williamstown, New Jersey, Tony, welcome to the EIB network, sir.
Glad that you waited too.
Hello.
Hey, Russ, how are you doing?
Very well, sir.
Thank you.
What I'm concerned about is no one's talking about um what Joe Biden said prior to the election, that there was going to be an international disaster that this president was going to be slow to respond to.
Is this a disaster?
And did they know about it beforehand?
If they did, did they cause it?
You mean the spill?
Yeah.
Well, let's go back and look at what Biden said.
And Biden, Biden said to a bunch of people, we're going to be tested.
They're going to really test us out there.
And we're going to need your love and we're going to need your support because you're going to think we don't know what we're doing.
You're you're you're you're you're you're not, you're not you you're you're gonna think that uh we we might be in over our heads.
I forget exactly what he said, but this is the message he conveyed.
Right.
So your theory, Tony, is that the oil spill is the international disaster is gonna be slow to respond to.
Yes.
And one reason you're slow to respond is because if you if you try to do the cleanup immediately, the more the longer you wait, the more evidence you lose.
Uh the more evidence of what?
Of who caused it, how it would how it happened.
No one knows how it happened yet.
No, we don't.
Well, look, I know where you're going on this.
And I think it's just sad that we have an occupant of the Oval Office that inspires in reasonable intelligent people.
The thought that somebody at the highest levels of our regime either knew about or was behind the oil will leak.
I just I find that disgusting.
I'm not blaming you out there, Tony.
Uh we don't know what caused it.
You're right.
We don't know what caused the Mexican spill in 1979.
We still don't know.
Or if they do know, they haven't said.
But the uh the public knowledge there is we don't know.
Here's here's what Biden said.
Um this guy has it.
Obama has it, he's gonna need your help because I promise you, you all are gonna be sitting here a year from now going, oh my God, why are they there in the polls?
Why is the polling so down?
Why is this so tough?
We're gonna have to make some incredibly tough decisions in the first two years, so I'm asking you now, I'm asking you now, be prepared to stick with us to remember the faith he had uh at this point because you're gonna have to reinforce us.
That's October of 2008.
Now, everybody assumed he was talking about some sort of military attack.
Uh I will I will remain mute on whether Biden knew about an oil well leak.
I'm just not gonna go there.
You know, something just occurred to me, Obama's scheduled to have a 20-minute meeting with the BP CEO and the execs today, and he was gonna go out at 1215, interesting timing, to make comments about it and gonna go have lunch with Biden for 75 minutes.
But he hasn't made the speech at 1215.
All he's done is announce his 20 billion dollar escrow thing.
Now we can dream that the BP guys are in that meeting not rolling over and uh telling him what for.
But my guess is I mean, I we can hope, but I don't think that's probably what's happening.