What We're Reading

The Obama administration has approved the use of sonic cannons to explore for oil and gas off the Eastern Shore using seismic survey ships which tow airguns that emit underwater explosions over thousands of miles along the coast.  These blast results would transform into a survey of the seabed floor to reveal potential drill sites.

The Bureau of Ocean Energy Management on Friday formally approved guidelines for using air cannons along the Eastern seaboard in the Atlantic Ocean from Florida to Delaware.  Energy companies could buy new oil and gas leases and begin drilling in 2018 if they find profitable reserves.

The guidelines are meant to protect endangered whales and other creatures from the loud noises and increased vessel traffic, but the government's environmental impact study estimates that more than 138,000 sea creatures could be harmed.

The decision opens an area of the Eastern Seaboard larger than two California's to exploration for the first time in decades, jeopardizing (

A plan, which on the surface, appears to be very Reaganesque and commendable however business (in my opinion) has mutated since the '80s and I immediately envision Congress ripping this to shreds eliminating the following:

• Eliminating tax loopholes while lowering the Corporate tax rate to a "fair" 28%  - seriously?  As if Corporations suddenly want to pay what someone may deem their  fair share?  It's all about profits baby and low-to-no taxes means profits.
• Removing incentives to relocate overseas.  Corporations have and will continue to shift their mfg to wherever costs are lowest.  What's he smoking and why isn't he sharing?

Give them incentives TO manufacture here (more tax breaks)

He also proposes the sale of America Fast Forward (AFF) bonds to attract private capital to invest in infrastructure investments.  This reminds me of the bonds which were sold in the 50's...........which I don't recall anyone raving about what a great investment they turned out to be.  Just say