But the rest are because the president isn't focused on it and the EPA just wants to put coal out of business. Tough to take on every fossil fuel at once.
So, you have no choice but to try to figure out what's going to hurt you next from Washington.
It wasn't always this way. My friend and writing colleague Matt Horween predicted here that politics is what will matter most under Obama and that the federal government would amass tremendous power under Obama. I think that's true, and it is often unchecked power because the media doesn't seem to ever want to be tough on the guy. That means capital doesn't have a friend in the White House, and you can tell that the bankers are paid lip service for their intrusion into his life.
The oil guys don't have a call into him at all. The rest of industry seems totally cowed by the president, scared, gun shy, afraid to get involved. How in heck could it take until Tuesday for the retail industry lobby group to get involved in a debate that would have left 80 million people without checks to go buy things starting in 19 days? How could they not be directly pressuring recalcitrant congresspeople?One reason is that they know it probably doesn't do any good. The Republicans who want to starve the beast respond to the electorate that sent them there. Only by going against Social Security directly -- the way the president at last framed the debate -- can they lose because that's an entitlement and they don't call them entitlements because they are voluntary on the part of the government. The president, meanwhile, is pro labor. He can't even harness the group to do his bidding. He probably hates Wal-Mart (WMT). Hillary Clinton was on the BOARD of Wal-Mart. It was located in Clinton's home state. More importantly, it's pretty obvious that the president is a divider and stocks and stock owners are not on his side of the ledger. He was voted in by his base, and it is difficult to see why he should alienate them. I don't blame him. He ran on who he really is and the people elected him.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV