Northern-Hemisphere Venezuela


George Will on This Week with Jake Tapper:

Jake Tapper: George, I want to start with you. I know you don’t agree with what Republican Texas Congressman Joe Barton had to say, but does the idea of this $20 billion escrow account make you uncomfortable?

George Will: It does. Look, there is no defense of BP which has an execrable safety record in this country, from the refinery disaster in Texas in ’05, the Morris Slope leak in ’06, all of that and so no apology for BP. But if you don’t want to live in a Northern Hemisphere Venezuela, you ought to be a little queasy about the fact that a president, any president of any party, using raw political power, without recourse to courts that exist for this sort of thing, under laws, with due process, essentially confiscates $20 billion from a publicly held corporation, about half of its shares held by Americans, to be dispensed, again, with out judicial supervision, as the political branch sees fit. That is worrisome. Even, they have even said that BP maybe held responsible for the lost wages caused by, not BP, but the administration’s own moratorium, six-months moratorium, on deepwater drilling. Which maybe more costly to the economy of the Gulf than the spill itself.

Source

HT: HotAirPundit

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