Kudos: The President Agrees To Offshore Drilling

Discussion in 'Environment' started by PoliticalChic, Mar 31, 2010.

  1. PoliticalChic
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    PoliticalChic Diamond Member

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    WASHINGTON (AP) - In a reversal of a long-standing ban on most offshore drilling, President Barack Obama is allowing oil drilling 50 miles off Virginia's shorelines. At the same time, he is rejecting some new drilling sites that had been planned in Alaska.

    Obama's plan offers few concessions to environmentalists, who have been strident in their opposition to more oil platforms off the nation's shores. Hinted at for months, the plan modifies a ban that for more than 20 years has limited drilling along coastal areas other than the Gulf of Mexico.

    Obama was set to announce the new drilling policy Wednesday at Andrews air base in Maryland. White House officials pitched the changes as ways to reduce U.S. reliance on foreign oil and create jobs - both politically popular ideas - but the president's decisions also could help secure support for a climate change bill languishing in Congress.My Way News - Obama to allow oil drilling off Virginia coast

    Bravo, President Obama takes a step toward making the country more energy self-sufficient, and, removes an arrow from the quivver of the Republicans. And pulls the rug out from under 'Big Green.'

    It remains to be seen how much he will push the 'Cap and Trade' legislation which is based on bogus 'global warming' fears.
     
  2. LuckyDan
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    LuckyDan Sublime

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    You're too quick to kudo Babar. This is way too little. ANWR should be a boom town.
     
  3. rdean
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    rdean rddean

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    Why will this bring down prices? We lease the land to oil companies. Any oil found is theirs.
     
  4. sealybobo
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    sealybobo Diamond Member

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    I think Obama had to give them this or they would have raised prices to $4 again and screw the Dems come November.

    What they tell us is the reason is just the best possible spin they can put on it.
     
  5. PoliticalChic
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    PoliticalChic Diamond Member

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    Consistent with the theme of every one of your posts, you understand nothing about the oil companies, to whom we owe both gratitude, for the service they provide, and for the support they provide for our fisc.

    In 2008, Exxon made $45.2 billion profit. Chevron made $23.9 billion in profit! Historic profit. Although it gives the anti-capitalists a field day, what’s with the knee-jerk assumption that profit makes them evil?
    Of course the whole attack falls apart when one looks at data from 1986 to 2006, when the average price of crude was $25.95/ barrel. In 2007, the price skyrocketed to $72.30, and then hit $147.27 in July 2008. And “The industry’s net profit per dollar of revenue was just under 9 cents, compared to 13 cents for the S&P 500, meaning the “markup” for the oil and gas industry is below average.”
    Perhaps the evil oil companies cut back on supply? Wrong again. “The worldwide average number of barrels produced per day was an estimated 84.8 million in 2007, compared to 72.4 million during the period 1986 – 2006.”
    Robert Murphy : On Those Oil Profits - Townhall.com


    In 2006, the oil industry paid $81 billion in income tax, and while Exxon’s earnings increased 89% from 2003 to 2007, their income taxes increased 170%. Exxon: Profit Pirate or Tax Victim?

    If Exxon’s 2008 tax bill of $116.2 billion were split equally among all tax filers who pay income tax, each filer’s share would be $1,259/year. Still hate Exxon? The Tax Foundation - Number of Americans Paying Zero Federal Income Tax Grows to 43.4 Million


    One would imagine that being wrong as regularly as you are, you might consider remediation of some sort.
     
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  6. PoliticalChic
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    PoliticalChic Diamond Member

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    See that, Sealster, you ruined any attempt of my reading your post as soon as you typed those first two words!
     
  7. Midnight Marauder
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    Midnight Marauder BANNED

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    There won't be any new drilling. This "announcement" today is political fluff, nothing more.
     
  8. Stephanie
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    Stephanie Diamond Member Supporting Member

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    lol, if this had been a Bush announcement, the left would be up in arms saying he is paying off his OIL buddies and is going to DESTROY the environment..Remember that?

    but as we see, then was then, now is now..

    all you can do is laugh your ass off.:lol:
     
  9. Midnight Marauder
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    Midnight Marauder BANNED

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    He's got the enviro-nazis' appeasement up next this week when the EPA announces new and unprecedented regulations on CO2. More job killing.
     
  10. kwc57
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    kwc57 BOHICA Obama

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    And the right would have been celebrating a victory......but all they can say now is that it isn't enough. Isn't that what the Palestinians do?
     

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