Posted on 01/11/2011 8:50:12 AM PST by Nachum
President Obama’s oil spill commission will release its long-awaited final report this morning, recommending new government regulations and limits on drilling. These conclusions could shape the future of the oil industry — and impact our nation’s energy policy for years to come.
The commission’s primary focus was determining the cause of the spill. Last week it revealed that errors by BP, Transocean and Halliburton contributed to the blowout of the Macondo well, resulting in the deaths of 11 people and the worst spill in history.
But the commission’s members have decided to go a step further. The anti-drilling measures recommended in their report would take America in the wrong direction. This shouldn’t come as a surprise. Obama picked five members who lack expertise in drilling and have a history of donating to Democrats. One member leads the Natural Resources Defense Council.
Expect liberals to seize on the report to condemn the industry as a whole and renew their attacks on offshore drilling. But the fact is that mistakes of individual actors should not result in punishment for an entire industry.
(Excerpt) Read more at blog.heritage.org ...
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FUBO.
“punishment for an entire industry”? How about “punishment for an entire country and building the finances of the Saudi’s. Our oil shouldn’t be higher than $30-$40 a barrel. We are being ripped off and Washington knows it.
With oil at $30 a barrel the US petroleum industry would dry up and blow away.
They will keep raising the National Debt limit as the year passes, taxes will go through the roof at local and State levels, and the Government will do the same. It will become the economic Apocalypse that Gerald Celente warned us about.
What makes you say that?
The cost of funding and producing oil today.
Horizontal drilling, Enhanced Oil recovery methods like CO2 injection.
That cheap, easy to produce stuff is mostly gone.
The fearless reader and great hater of all private business has been successful in banning drilling long enough for many rigs to leave our waters and for his butt packing buddy George Soros to make a bunch of money off of his investment in Brazil’s oil company (which we taxpayers were forced to give loans to).
So rack up another victory for the one who will destroy this country at every opportunity.
With oil at $30 a barrel the US petroleum industry would dry up and blow away.”
It didn’t do so before.
Why do you think it would now?
I say it would help the economy in general.
Bread used to 25 cents a loaf.
How much wheat are you going to plant given today’s diesel prices and bread at 25 cents?
Do some investigation. Tens of thousands of workers were laid off and never returned. The number of rigs in operation in the USA dropped by 75% and accounts for some of the problems the industry has today as it tries to catch up in the Baaken, Eagle Ford, Marcellus and Niobrara fields.
Do some investigation. Tens of thousands of workers were laid off and never returned. The number of rigs in operation in the USA dropped by 75% and accounts for some of the problems the industry has today as it tries to catch up in the Baaken, Eagle Ford, Marcellus and Niobrara fields.
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