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The President’s Nobel Peace Prize was announced moments after TGL was sent out to clients around the world on Friday, but obviously we were more than surprised by the announcement. What we find interesting is that even those in the media that have openly supported the President in the past find it shocking that the good people of the Nobel prize committee found it proper to give the prize to President Obama so early in his career. The Virginian Pilot… a newspaper that has been rather openly supportive of the President and very publically supported him against Mr. McCain in last year’s election… had an editorial over the weekend that we thought particularly interesting. The Editors of The Pilot said The Nobel Committee explained that the president earned the award “for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples.” People stop getting “A’s” for effort in elementary school, to say nothing of the White House…. Perhaps one day Obama’s efforts will be deserving of such accolades. But not yet. When the media that has openly supported the President in the past begins at the periphery to turn against him, trouble looms and the “honeymoon” is rather clearly over. Harsh revisionism is setting in.

- Dennis Gartman/ The Gartman Letter / 10/ 12 / 09

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Petroleumworld News 10/12/09

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