AP reports:
U.S. President Barack Obama is boosting protection of Alaska's Arctic National Wildlife Refuge, and will ask Congress to designate more than 12 million acres as a wilderness area, including its potentially oil-rich Coastal Plain.With gas prices now under $2/gal in many places across the country, the nature bullies are looking to strike when the iron is hot.
The designation would seal off the area in Alaska's northeast corner from oil exploration, and give it the highest degree of federal protection available to public lands. [...]
If Congress agrees, it would be the largest wilderness designation in the country.
This is the time for them to make a massive land grab.
And what, pray tell, happens after the smoke clears? Subscribers of The EPJ Daily Alert know what's in store for consumer prices.
Robert Wenzel writes:
Once the oil price stops falling--and that's likely to happen sometime within the first half of 2015 (possibly the first quarter), the price inflation indexes are going to start moving very strongly to the upside, if the desire to hold cash balances starts to shrink at the same time (and I think it will), the upside moves in price inflation are going to be spectacular. Fed members and most mainstream economists have no conception of how fast the spike could occur. Gold, silver and oil will rocket.What happens then?
The nature bullies will have "the largest wilderness designation in the country" nestled in their pockets.
Chris Rossini is author of Set Money Free: What Every American Needs To Know About The Federal Reserve. Follow @chrisrossini on Twitter.
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