In a provocative opinion piece for Fortune Magazine yesterday, former Congressman Harold Ford, Jr. offers President Obama frank advice half-way through his first term, particularly calling on him to enact a moratorium on all new regulations for the sake of the American economy.
On the threats of new regulatory overreach, Ford states:
“…The President should order his department heads and agency chiefs to declare a moratorium on new regulations until further notice. Whether true or not, business already believes that the Obama administration practices “If you can’t legislate, regulate.” The business community needs to be able to look over the hill to make investments that affect the workforce, shareholders, and profitability for the next 10 years, not the next 10 months.”
And speaking to the importance of having a strong domestic oil and natural gas industry, Ford says:
“The President should look to business leaders for solutions to tomorrow’s problems. An important example is America’s oil and gas industry. The U.S. needs a strong oil and gas industry to secure our future, and our own companies are leading the world in the development of new technologies to safely recover America’s own resources. These companies are also investing in the fuels of tomorrow…”
The full piece is here.