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Gulf Study Puts Future Oil Leases At Risk

From the Houston Chronicle:

Oil industry fears canceled sales of drilling leases

Nov. 15, 2010,

WASHINGTON — The government’s plan to conduct a new environmental study of the Gulf of Mexico jeopardizes three upcoming auctions of offshore drilling leases and risks further damage to the region’s economy, an oil industry official warned Monday.

The environmental analysis – formally announced last week – could take six months to a year, delaying lease sales that have been planned for March and August next year, said Erik Milito, upstream director for the American Petroleum Institute. A third sale planned for early 2012 also is in doubt.

Some industry lobbyists and financial analysts have already predicted that the government will cancel the March sale.

As Mr. Obama noted a couple of weeks ago, when the media was claiming he had dropped his plans for limiting carbon emissions: "Cap-and-trade was just one way of skinning the cat; it was not the only way."

And, of course, we are ultimately the cats who will get skinned.

If both 2011 sales are postponed or canceled, it will be the first year since 1965 that the government has not sold new offshore drilling leases, Milito said.

Combined with a slowdown in permitting new offshore drilling projects in the wake of the Deepwater Horizon disaster, the potential delays threaten domestic energy development and risk more than 100,000 jobs directly and indirectly connected to the industry, Milito said

And by "slowdown" he means complete cessation, since there has not been one permit granted since the BP spill, according to reports.

But of course Mr. Obama and the Democrats want energy prices to skyrocket. That way they can continue their attacks on the economy and big oil and foist ‘green energy’ down our throats. And they will use any excuse to get their way.

Still, it’s great news for the Venezuelans and Cubans and their Russian and Vietnamese partners.

This article was posted by Steve on Tuesday, November 16th, 2010. Comments are currently closed.

5 Responses to “Gulf Study Puts Future Oil Leases At Risk”

  1. GetBackJack says:

    Good thing I have a wood burning stove

  2. NoNeoCommies says:

    Of course they need another study.
    They can’t use the one that shows marine life flourishing in the gulf: http://www.americanthinker.com/blog/2010/11/marine_life_flourishing_in_gul.html

  3. tranquil.night says:

    Gee, it’s sure a mystery.

    Great job as usual Steve.

  4. canary says:

    Obama reiterating in his more than one way of skinning the cat, that priority is “electric cars” and he has Democrats & Republicans both backing this.

    Cap and Trade was just one way of skinning the cat; it was not the only way. It was a means not an end. And I’m going to be looking for other means to address this problem.

    1 And that gives opportunities for Democrats and Republicans to come together and think about, whether it’s natural gas or energy efficiency or how we can build electric cars in this country,….
    2 We’ve got, I think, broad agreement…? There’s a lot of agreement around the need to make sure that electric cars are developed here in the United States…

    that we don’t fall behind other countries. Are there things that we can do to encourage that? And there’s already been bipartisan interest on those issues.

    Please tell me Obama is not telling the truth about electric cars? Did he also mean his speed trains with a Chicago hub instead of central location?

    Expanding transportation by building bridges. More for the homeless to sleep under, or jump off.

  5. MZmaj7 says:

    I’m shocked. The moratorium was not enough time for these intrusive safety analyses?

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