In 2011, Gulf of Mexico oil production will under-perform the government’s pre-Macondo forecasts by 355,000 barrels per day — almost 130 million barrels for the year. In 2012, the shortfall rises to 550,000 barrels per day — 200 million barrels. That’s fully one-third of the Gulf’s oil producing capability, and over 10% of total domestic oil production. These are staggering numbers. Alaska, our #1 oil | Read More »
The Obama Administration has filed some 27,000 pages of documents in Federal court which disclose the process by which it decided to forge ahead with a deepwater drilling moratorium in the Gulf of Mexico, in spite of expert advice, public opinion and a Federal judge’s ruling. The documents also show that the Administration stonewalled a U.S. Senator’s request for information, a point apparently lost on | Read More »
On one hand, Mr. Obama’s “Worst Oil Spill in History” theme serves as pretext for eviscerating the offshore petroleum industry, an industry that, until this spring, was relatively healthy despite the recession. By doing so, he may suck the economic life out of four very red Gulf States. On the other hand, Energy Czar Carol Browner has joined the “Where has the oil gone?” chorus, | Read More »
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