Your request is being processed... Obama Administration Halts Bush Expansion Of Offshore Drilling (companies, economic)

[dukester.2]

Obama Administration Halts Bush Expansion Of Offshore Drilling

[Toyman at Jewel Lake]

Thank you for posting this. Once again the Obama administration shows their contempt for the opinions of US citizens who overwhelmingly support increased domestic production of oil and gas. It will be interesting to see the impact on fuel prices in the next few months.

[rlchurch]

Originally Posted by Toyman at Jewel Lake

Thank you for posting this. Once again the Obama administration shows their contempt for the opinions of US citizens who overwhelmingly support increased domestic production of oil and gas. It will be interesting to see the impact on fuel prices in the next few months.

ZERO impact.

[jmking]

If energy prices spike, he better come up with a common since plan or his administration is toast, post haste.

[Roaddog]

He just canceled out some good paying jobs for Americans, pass out the condoms.

[saganista]

Why aren't the oil companies developing the leases they already hold? Could it be that they realize that the Bushie worldwide economic collapse will undercut economic activity and therefore the demand for oil for years?

[Captain Worley]

Originally Posted by saganista

Why aren't the oil companies developing the leases they already hold? Could it be that they realize that the Bushie worldwide economic collapse will undercut economic activity and therefore the demand for oil for years?

No. A lot of the leases won't produce anything, but the companies leased them to prevent other companies from using side-drilling to tap into their oil.

And some were leased in the hopes that oil would rise to a price that made extraction commercially viable.

[saganista]

Originally Posted by Captain Worley

No. A lot of the leases won't produce anything, but the companies leased them to prevent other companies from using side-drilling to tap into their oil.

What percentage would you say "a lot" actually represents?

Originally Posted by Captain Worley

And some were leased in the hopes that oil would rise to a price that made extraction commercially viable.

So, the reason these leases are not being developed is somehow then NOT directly related to the fact that the Bushie worldwide economic collapse will undercut economic activity and therefore the demand for oil for years? You'll have to go through the details on that one a little more clearly...

[jmking]

Originally Posted by saganista

What percentage would you say "a lot" actually represents?


So, the reason these leases are not being developed is somehow then NOT directly related to the fact that the Bushie worldwide economic collapse will undercut economic activity and therefore the demand for oil for years? You'll have to go through the details on that one a little more clearly...

As soon as you use the term bushy etc. you lose credibility and sound like a hack. Bush is gone, Obama is now the President. Hopefully he's not in the camp that believes energy is bad and the world is going to die from it.
Thus in order to control such evilness our monthly bill needs to double in order curve such bad behavior.

[Leisesturm]

Originally Posted by jmking

As soon as you use the term bushy etc. you lose credibility

Why? I think it's a valid term. Obama has been president for less than a month why are you being so quick to try and pin this on him? Expansion of an oil based infrastructure is wrong no matter what the effect of curtailment on short term speculation. Someone had to man up and force the direction onto alternative sources of energy.

Do you know that Europe and Japan have E1 broadband Internet that runs at 2,048 Mps while in the U.S. the T1 and T3 lines are still the gold standard. A T3 is 3.44 Mps or therabouts. HDTV has long been the broadcast standard in the rest of the developed world and the U.S. still can't make the leap to basic HD which has been in use in Europe for at least ten years. My point is that such foot dragging and reluctance to move forward because the status quo makes billions for us hurts us in the end. We won't see the possible downside of allowing the rest of the world to pull away from us technologically because we think in old fashioned militaristic terms. Who would have thought that a couple of jet airplanes loaded with aviation kerosene could bring down the most iconic American example of architectrue ever. Osama Bin Laden did. You don't need ICBM's. The next war may be fought with computer viruses. We'd lose such a war in the first round with our antediluvian computer infrastructure.

Obama looks ahead. This is nothing more than looking ahead. The condoms should likewise have been made obsolete decades ago but that's another thread.

H