Posted on 04/14/2016 1:43:40 PM PDT by bananaman22
The Obama administration unveiled new regulations on offshore drilling on Thursday, rules that were several years in the making.
The regulations stem from the 2010 Deepwater Horizon disaster in the Gulf of Mexico, a well blowout that resulted in the death of 11 workers and one of the worst environmental disasters in U.S. history. The regulations call for new well-control measures, limits the volume of fluids that can be injected into wells, and requires heightened well monitoring.
ExxonMobil and other companies say the rules will impose costs as high as $25 billion over the next decade, pushing many offshore projects into unprofitably territory. Wood Mackenzie says the rules could reduce Gulf of Mexico spending by 70 percent. But the Bureau of Safety and Environmental Enforcement (BSEE) says that the rules will cost just $1 billion across the industry over ten years, and in any case, the rules are crucial to avoiding another disaster.
(Excerpt) Read more at oilprice.com ...
Why isn’t this treasonist bastard in jail?
They should quit voting for and donating to these liberals. I have no sympathy for these idiots except they pass on their follies to the consumer.
Wonder what the Party’s faithful will think about $9 per gallon at the pump. Oh wait, they will blame the oil companies of excessive profits and push for nationalization to fix the problem they created.
The main tenet of socialism is controlling all means of production. Obama just uses regulations since he can’t pass laws.
Well the GOP controlled Congress must support his actions evidenced by their lack of opposition to him.
Incorrect. It will cost their customers $25 billion.
And the only regulations really needed are to NOT hire unqualified AA in the ACoE candidates that can’t inspect concrete properly.
The federal government has ZERO idea how to dig a latrine let alone a hole in 2 miles of water down another mile, underneath an existing hole, to plug the first leaking hole. Try it with a “boot on the neck.”
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