In an effort to deflect blame for high gasoline prices away from the Obama Administration, the Department of the Interior today released a report which purports to show that the oil and gas industry, not DOI or BOEMRE, is guilty of dragging its feet on offshore energy exploration and development. This, in spite of a 10 month regulatory moratorium/permitorium that has brought new well drilling | Read More »
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 White House Blog, in a post entitled “Expanding Safe and Responsible Energy Production”, lays out the case for the Obama Administration as a long-time supporter of domestic oil and gas: One area where we have focused our efforts since the start of the administration – long before this current spike – is increasing responsible domestic energy production – including oil and gas. In fact, | Read More »
When it comes to cutting budgets, everything is on the table with the Democratic leadership of the Senate. Absolutely everything, everything, up to and including cowboy poetry festivals. Or maybe not. “The mean-spirited bill, H.R. 1, eliminates National Public Broadcasting,” said Reid in a floor speech. “It eliminates the National Endowment of the Humanities, National Endowment of the Arts. These programs create jobs. The National | Read More »
On Wednesday, Mississippi Governor Haley Barbour spoke to the U.S. Chamber of Commerce on energy policy: Barbour says Obama cheers for higher gas price “This administration’s policies have been designed to drive up the cost of energy in the name of reducing pollution, in the name of making very expensive alternative fuels more economically competitive,” Barbour said… Barbour cited a statement by Nobel laureate Steven | Read More »
Could ethanol-driven food price increases be at the root of recent unrest in Egypt and the greater Middle East? An article by Robert Bryce in the Energy Tribune explores the connection between the Iowa Presidential Caucuses, ethanol subsidies, and the rising tide of discontent: Biofuels Driving Up Food Prices As Iowa Primary Approaches This year, the US corn ethanol sector will consume 40 percent of | Read More »
The Academy of Motion Picture Arts and Sciences (COMINTERN) (AMPAS) are a bunch of suckers when it comes to Leftist propaganda films featuring outrageous, junk-science based, anti-capitalist claptrap. Just ask Al Gore, who won an Oscar a few years back for An Inconvenient Truth. One of this year’s nominees in the Documentary Feature category is a film by Josh Fox and Trish Adlesic called Gasland. | Read More »
As “Vladimir”, I’ve written at length about the destructive energy policies of the Left and of the Obama Administration. Specifically, their hostility toward domestic producers and the producing states will inevitably lead to higher unemployment and a stagnant economy in the near term; long term, they imperil our national security. What could possibly motivate them? Some say that Obama is merely the puppet of an | Read More »
Sounds like the U.S. Government needs to hire some competent lawyers. Lucrative Gulf of Mexico drilling loophole survives challenge in U.S. House On a mostly party-line vote, The House Friday night rejected a Democratic amendment that would have corrected a 1995 mistake in drilling rules [sic] that allowed oil and gas companies to drill in portions of the Gulf of Mexico without paying royalties. The | Read More »
Judge Tells Government to Resume Permits for Drilling WASHINGTON — A federal judge in New Orleans on Thursday ordered the Obama administration to move quickly on permits for new deepwater oil wells in the Gulf of Mexico, saying that the government could no longer justify long delays in allowing new projects to go forward. … “Not acting at all is not a lawful option,” Judge | Read More »
Today’s business news contains two seemingly unrelated stories, both on the energy front. The first tells the tale of Range Fuels’ foray into cellulosic ethanol, the process of making ethanol fuel, not from foodstuffs but from waste products such as wood chips. Even with government assitance with financing and with a Congressional mandate requiring customers to use their inferior fuel, Range Fuels’ project is a | Read More »
Nobel laureate economist and Princeton Professor Paul Krugman opines on the causes of a recent run-up in food prices: Droughts, Floods and Food By PAUL KRUGMAN February 6, 2011 So what’s behind the [food and commodity] price spike? American right-wingers (and the Chinese) blame easy-money policies at the Federal Reserve, with at least one commentator declaring that there is “blood on Bernanke’s hands.” … But | Read More »
We all know that BOEMRE has lifted the Deepwater Drilling Moratorium. We also know that few rigs have gone back to work, either in the deepwater or the shallow water Shelf. That’s because of several factors, one of which is the new Interim Final Rule which governs all offshore drilling. Compliance with the Interim Final Rule is necessary for the operator to secure a permit. | Read More »
From the President’s State of the Union Address: We need to get behind this [green] innovation. And to help pay for it, I’m asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don’t know if you’ve noticed, but they’re doing just fine on their own. So instead of subsidizing yesterday’s energy, let’s invest in tomorrow’s. Now, clean energy | Read More »
Former Democratic Senator Bob Graham of Florida is co-chair of the President’s Oil Spill Commission. The Commission, stacked with environmentalists and Harvard lawyers and notably absent any working industry expertise, delivered its report to the President earlier this month. Its contents were predictable, calling for more regulation and more government. Here’s what Sen. Graham had to say this week: This is a wakeup call to | Read More »
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