Posted on 02/10/2009 11:18:41 AM PST by Sleeping Freeper
WASHINGTON - The Obama administration on Tuesday overturned another Bush-era energy policy, announcing it was setting aside a draft plan to allow drilling off the Atlantic and Pacific coasts.
"To establish an orderly process that allows us to make wise decisions based on sound information, we need to set aside" the plan "and create our own timeline," Interior Secretary Ken Salazar announced in a statement.
Environmentalists and some tourism-dependent coastal states oppose the drilling, citing the potential for spills and urging an emphasis on renewable energy instead. Energy companies counter that drilling has become safer over the years and that royalties from any finds would be in the billions of dollars.
(Excerpt) Read more at msnbc.msn.com ...
Exploring and mapping isn't cheap, but it's the least capital intensive of the process.
Oil companies don't stop looking for oil when it's cheap -- they simply stop developing their reserves.
Because they know that, in the long run, there's more "up" in the oil market than there is "down".
Blah, blah, blah. Obama and his minions are so much "sound and fury signifying nothing" except our destruction.
You are 100% correct on that!
It's not assumptions or suppositions. Oil imports and exports can be tracked historically. Grain of salt? How about barrels of oil? I mean it's not like the data was generated unverified from inside Russia. The verifications can be seen in todays current events. Russia is flexing well OILED muscles in using crude as a weapon to make political gains in it's own backyard. It's choked off supplies to a number of it's customers in order to assure a united front wherever it feels one needs to be created.
The way I see it: Oil under the seabed is worth somewhere close to $0/barrel more or less. Oil in a barrel is worth closer to $40. Irrespective of "energy independence", pulling about a billion barrels of oil from under the seabed and putting it into barrels (I know, they don't really do that) would create about $40,000,000,000 of wealth for Americans. This $40,000,000,000 would be divided between the shareholders of oil companies (a small piece), the government (a bigger piece) and oil workers and oil support workers (the biggest piece.)
“It was never a viable concept in the first place. There is no nation on this planet thats industrialized that is ‘energy independent’ and there never will be.
Its a fools errand talking point.”
That’s because dependence on imported oil, and all the national security problems it creates, is more profitable than independence from foreign oil.
Obama is an idiot breaking his own campaign promises.
The Dhimbat plan is much simpler - give the money to states that sponsor and train terrorists to kill us.
bttt
Next he’s going to pay US farmers to take ALL their acreage out of production and raise ethanol mandates.
He he... Good analogy! Another one I’d like to add is that they’re like someone who instead of looking through a pile of dirt to find a piece of gold; they go looking through a pile of gold to look for a clod of dirt! (or poo!)
You have no idea how ridiculous you look after posting that particular comment, friend.
Its amusing as hell.
Didn’t say that, project much?
I don’t agree, but thats allowed here. This isn’t DU...
“It was never a viable concept in the first place. There is no nation on this planet thats industrialized that is ‘energy independent’ and there never will be.
Its a fools errand talking point.”
If I remember, the day President Bush announced this last summer; that started oil prices falling from their highs.
No one ever said this would make us energy independent. We need to be drilling for every barrel available at current market prices.
Lower oil prices mean less dollars leaving our nation. Always a good thing.
No dispute here on that score.
Don't see why not. $40 can go to $140 in a single day. Think oil production can react that fast? Better to look at the current low prices as an aberration at best. Prices are still going to rise in the long term, no matter what. At least as long as we have ourselves snugly adhered to the middle east's teat.
The United States should be and COULD be one of the leading oil producing nations in the world.
The US is the world's third largest producer of oil.
We have not!!! Everytime we find possible oil reserves it is put off limits. Vast oil, coal and natural reserves are available within our own boundries and we cannot get to it because of politics. Rules, regulations and government ineptness and pandering prohibits new cost effective refineries from being built and yet we complain at the price of diesel. New nuclear power plants are prohibited for the sake of politics in many parts of the US. It is insane to defend our national energy policies!!
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