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Obama Rejects New Atlantic Ocean Oil Drilling (usatoday.com)
mdsolar writes: The Obama administration will abandon its plan to allow new offshore oil drilling on the U.S. southeast coast, dealing a blow to petroleum companies that had hopes of tapping new reserves. The Interior Department is set to announce today that it will not auction off certain drilling rights for Atlantic Ocean waters off the coast of Virginia, North Carolina, South Carolina, Georgia and Florida. The reversal comes after environmentalists, coastal residents, and the U.S. military vocalized opposition to the plan. It also comes amid declining industry investment in new exploration and production activities as oil prices fell by about 70% since late 2014 -- although the industry is still seeking long-term investment opportunities under the assumption that oil prices will recover.
The oil companies want to buy the leases now while they're cheap.
"I don't know, therefore Aliens" Wafflebox1
If he's smart, he'd wait until the price of oil to recover so he can sell those drilling rights for a higher price.
I think that both Democrats and Republicans alike would agree that drilling for more oil now in the middle of a supply glut is a bad idea.
Liberals don't care about the middle class. They constantly tell me how people in Alabama are so uneducated that they shouldn't be allowed to vote. They are constantly interrupting Trump rallies, specifically Bernie Sanders supporters. They favour censorship and believe they should be allowed to prevent you from expressing an opinion they don't like, see Citizen's United case. They oppose school vouchers because it might let the poor kids get a better education at "their" schools. On top of all that, if these middle class say anything there is an endless wave of liberals saying the only reason they oppose the oppression the left has put on them is because they don't like a black guy in the White House.
It has become quite disgusting really. The fact that the only candidate running for president that wants to enforce current illegal immigration laws, that are killing the jobs of those middle class, is being called a racist because of that tells you all you need to know about them.
Liberals take from you, such as Obamacare tax increases, and give you nothing back but name calling while acting like it is you who is the only one who is uncivilized.
You can call Trump a lot of things, but dumb is not one of them.
You do not succeed in businesses without having some smarts.
"-1 Troll" is the apparently the same as "-1 I disagree with you."
and tesla happens to be the biggest name in EVs right now.
Nissan actually sells more EVs though.
I don't read AC A human right
Gas prices are lower today than they were during the Bush Administration.
You stupid sonofabitch.
You are welcome on my lawn.
That was all horseshit. Low oil prices never created a threat of recession. Except maybe a recession in the trading accounts of oil speculators and energy companies.
For everyone else, it was stimulative to the economy to have oil prices low.
You are welcome on my lawn.
God loves you. I don't, but God does.
You'd do better to worry about the price of health care. That's what's skyrocketing. When we get cancer from all that pollution it'll take every dime I have to make my co-payments.
The oil companies are sitting on more proven reserves than can ever be pumped and burned if we are going to avoid catastrophic climate change. Even the Saudi's recognize it and that is why they are pumping as much of their oil as possible now (even at low prices) because they know it will be worth even less in the future. They're even trying to sell all of their oil assets now to some sucker who believes "oil will make a big comeback".
Most oil companies have oil assets on their books which will be worthless in the future (Google "stranded assets").
Coal is already done and finished and bankrupt.
Oil is next... it will take a while to go away (just like IBM and Microsoft are coasting on past glories) but there is no future growth in oil.
So, Obama is doing them a favor by preventing them from throwing money at Arctic drilling and Atlantic coast drilling. They should thank him (and look for another business opportunity).
I don't read your sig. Why are you reading mine?
Oh right, think-of-the-children, I forgot that :D
But the fact is that to the contrary, I do care about the next generations: I want them to enjoy a prosperous, stable society with a small government and a high quality of life. I don't want them to live wondering how it must have been once upon a time in the early 21st century when energy was cheap and widely available, which, and nothing else, allowed people to have their own detached homes, travel without restrictions and have a life expectancy approaching 80 years.
Admittedly, all analogies are flawed, but still - when the first railways were built in 19 century Britain, they attracted very vocal opposition due to their perceived negative effect on society, their alleged unsustainability (it was a "scientific fact" that coal would only last for 20 years or so) and, yes, their genuine environmental impact. No-one at the time could imagine that one century later, we would have electric HSTs which would suffer from none of these problems while being much faster, much cheaper, much safer and much more frequent. Yet the development of coal-powered steam locomotives allowed the advent of precisely that. Today, the green progressives' attitude is similar to the then-opponents, who lobbied to limit the number of trains and force them to run slower.
In other words, of course one day oil will become irrelevant - but not because of green social engineering, or because we will use something greener. It will be because we will use something superior. I for one wish the next generations will be able to take advantage of it and I am infinitely grateful to our ancestors that they did NOT think of the future generations when they learned to use fire.
We are going to need oil for at least another 30 years. How can I say this? Simple. Boeing has been making planes on a 30 year schedule for a very long time. Any plane they produce today they intend to see flying for the next 30 years. These planes burn kerosene, and they will for 30 years. Therefore we need oil for the next 30 years.
Not enough for you? You think that isn't enough? That we'll just make new planes that don't need oil? What about trucks, tractors, bulldozers, ships... Let's stop here at shipping for a bit. As much as people might not like it but the world's shipping infrastructure runs on diesel fuel. No diesel fuel and shipping moves at the pace of horses and sails. That is unless we have the time to make a smooth transition to whatever comes next. Perhaps what comes next is synthetic diesel fuel, derived from algae or nuclear power. If we cut ourselves off from cheap oil then we could cut ourselves off from whatever could replace it.
To put up windmills takes coal fired aluminum smelting, diesel fueled trucks and construction equipment, and so on. If the price of oil goes up then the price of construction goes up, the price of shipping goes up, the price of materials goes up, therefore the price of windmills go up. Solar panel prices go up, ethanol prices go up, energy in whatever form gets more expensive.
Energy is energy. Expensive oil means expensive everything. Not drilling for oil does not make windmills or solar panels cheaper. As odd as it may sound we need cheap oil to move away from oil. We need to make oil so cheap that it becomes worthless. If we make energy cheap then it becomes unprofitable to drill for it. The path to cheap energy is infrastructure. Right now infrastructure is built with the energy from oil.
Besides, not drilling for oil in the USA means we buy it from somewhere else. Does anyone out there believe that any other nation will drill oil as responsibly, clean, and safe, as the USA would? If people want to prevent oil spills then we should be drilling for it under the supervision of the US EPA. Also, wars are fought over oil, what if oil from the USA were cheaper than from the dictators of the world? Would these despotic assholes be in power if they could not sell their oil? We need to make oil so cheap that they cannot profit from it. Impossible? Perhaps, but can we at least try?
Not drilling for oil in the USA is only making the world a less free, dirtier, and more dangerous place.
I am armed because I am free. I am free because I am armed.
"(2) Because if it's dug up now, it gets used up. If it's underwater, we can start digging it up when the giant war starts. Because, who cares where the oil is dug up (militarily) during peace? We can get it from trade. But during war, that's when we need it."
If a war starts then it's too late to go drilling for oil. What do these ships that go drilling for oil run on? That's right, oil. If there is a shortage of oil then it could be real hard to find the oil to go looking for more oil. We need those wells drilled before a war starts. It's not like these wells can produce oil immediately, they need to be drilled first and how long does that take?
I remember people telling me years ago that we should not be drilling in ANWR because in the five years it takes to get the oil that oil could be worthless. What happened five years later? Oil hit record high prices. So, instead of Americans making money on that oil and adding to our economy we saw our economy take a hit, both from high oil prices and then again because we were shipping those dollars out of the country.
If it takes five years for a well in ANWR to produce, which is on flat and dry ground, then how long would it take to drill a well out in the ocean where the ground isn't so flat and dry?
If the goal is to have a reserve of oil in case of war then we need to drill now or that reserve could be closed off from us before we can get it.
Also, if there is a war then what do you suppose people would be fighting over? Could that war be over oil? Seems to me that one way to prevent that war in the first place is to make sure people are warm, fed, and comfortable. Plentiful energy seems to make that happen.
I am armed because I am free. I am free because I am armed.
Gas prices are lower today than they were during the Bush Administration.
You stupid sonofabitch.
I'm pretty sure you've been bitch-slapped over this issue before, so here it goes again:
Chu: DOE working to wean U.S. off oil
“We agree there is great suffering when the price of gasoline increases in the United States, and so we are very concerned about this,” said Chu, speaking to the House Appropriations energy and water subcommittee. “As I have repeatedly said, in the Department of Energy, what we’re trying to do is diversify our energy supply for transportation so that we have cost-effective means.”
Chu specifically cited a reported breakthrough announced Monday by Envia Systems, which received funding from DOE’s ARPA-E, that could help slash the price of electric vehicle batteries.
He also touted natural gas as “great” and said DOE is researching how to reduce the cost of compressed natural gas tanks for vehicles.
High gasoline prices will make research into such alternatives more urgent, Chu said.
“But is the overall goal to get our price” of gasoline down, asked Nunnelee.
“No, the overall goal is to decrease our dependency on oil, to build and strengthen our economy,” Chu replied.
So when the price of gas was $4/gal and higher, Obama had ZERO interest in trying to lower gas prices.
Now you're here trying to give credit to Obama for lower gas prices? Calling you dumb as a post would be an insult to every acorn with dreams of being buried, sprouting, growing up, getting cut down, and then sawed into a post, you stupid dumbfuck.
Any unlike you, I back up my claims with cites from actual Obama Administration officials who implement his policies.
So STFU.
What the GP says is correct, he panders to idiots. You may vote for him for other reasons, but his campaign is aimed at idiots who think they can kick all Muslims out or that their lives are being ruined by political correctness.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
The military has a strategic reserve to bide them over til the North Atlantic fields come online. And we can start developing them as a crisis develops.
It'll take a lot less time than ANWR to get up and running. ANWR has freezing temperatures reducing the worktime to 1/5 of the year and limited human access during that time. Plus new pipelines and such.
Your ad here. Ask me how!
If you let the guy you like make police state rules, you don't get to complain when the guy you hate uses them.
What I'm trying to understand is how the hell the GP got himself convinced that not selling drilling rights which he is under absolutely no obligation to sell, qualifies as "police state" behavior at all...
Unicode killed the ASCII-art *