• 4 minutes Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 8 minutes America Could Go Fully Electric Right Now
  • 11 minutes JP Morgan says investors should prepare for rising odds of Trump win
  • 4 hours Permian in for Prosperous and Bright Future
  • 8 hours Daniel Yergin Book is a Reality Check on Energy
  • 4 hours YPF to redeploy rigs in Vaca Muerta on export potential
  • 3 hours Gepthermal fracking: how to confuse a greenie
  • 15 hours US after 4 more years of Trump?
  • 9 hours Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 8 mins Oil giants partner with environmental group to track Permian Basin's methane emissions
  • 20 hours The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 2 days US Oil Refinery Fexibility
  • 3 days China Must Prepare for War Says State Media
  • 3 days Interconnection queues across the US are loaded with gigawatts of solar, wind and storage
  • 1 day Surviving without coal is a challenge!!
  • 2 days Portuguese government confirms world record solar price of $0.01316/kWh
Global Economy Throwing Up Red Flags For Oil

Global Economy Throwing Up Red Flags For Oil

Investors are feeling increasingly gloomy…

How COVID-19 Is Transforming The Auto Industry

How COVID-19 Is Transforming The Auto Industry

Dealerships are looking to pre-owned…

Trade War Weighs On Western Automakers In China

Trade War Weighs On Western Automakers In China

Western automakers in China are…

Mad Hedge Fund Trader

Mad Hedge Fund Trader

John Thomas, The Mad Hedge Fund Trader is one of today's most successful Hedge Fund Managers and a 40 year veteran of the financial markets.…

More Info

Premium Content

Lunch With Bill Clinton

I opened the e-mail at my usual wake up time of 4:00 am. President Bill Clinton was playing at the Presidents' Cup PGA tournament at the Harding Park Golf Course in San Francisco today. Would I have time for a chat about US economic policy afterwards?

That afternoon, in walked Slick Willy, sunburned from his morning on the links, to chew the fat with some Bay Area business leaders. I can't say who else was there, but I'll give you a hint: I was the only one without a NYSE listing.

Bill says that The US needs a new job engine every five to seven years to continue growing. Reagan had the personal computer, he had the Internet, but since then there has been nothing. As a result, new job creation fell from 23 million during his administration to a net job loss of 1.5 million during the Bush years (click here for BLS stats), causing real standards of living to fall for two thirds of all Americans.

The big challenge is how to bring back the economy without burning up the planet. Some $1 billion of new spending would create only 870 jobs in a conventional coal fired power plant, but 2,000 jobs for a solar plant, 3,300 for a wind facility, and 6,000 from improved building efficiencies. So creating a new job engine is a matter of political survival for Obama and the Democratic Party, and you can expect new subsidized alternative energy projects to be raining down upon us for the next three years, like hail in the Book of Exodus.

Getting health care costs off the back of corporations is also essential for recovery. As things now stand, all of our net new economic growth is going to cover increased health care costs. And that only gets us an outcome that ranks 25th globally.

Clinton now devotes himself to his Clinton Global Initiative, a non-profit which coordinates inter governmental cooperation in health care, education, and the environment, and has raised $57 billion for new development projects (click here for  their website).

He was incredibly well informed, obviously still has access to confidential intelligence briefings, and rattled off statistics like an M60 machine gun. You really get the impression you are dealing with a Rhodes Scholar. I politely reminded him of the 1968 anti-war demonstration we both attended in London and he laughed. Bill is as charming as ever, and contains the enthusiasm of a newly minted congressman heading out for his first stump.

Courtesy: Mad Hedge fund Trader


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Anonymous on September 01 2010 said:
    I'm a Democrat and always have been, although I have voted for Republicans. Fortunately, however, I did not vote for Mr Clinton. As far as I am concerned, the hundreds of billions of American dollars that have been spent in the dumb war in Iraq would have been unnecessary if he had begun his Global Initiative when he was president by helping Iraqi children and elderly persons. That would have been a relatively simple matter, costing - at most - only a few billions of dollars a year. And by the way, those job figures mentioned in this article hardly deserve to be called crank.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News