Republicans have a poor understanding of economics. They should have no place in making policy

[Uncensored2008]

So essentially, when the economy does well under a Democratic president, that was an event outside of his control. But when the economy does poorly under a Democratic president, that was a direct result of his policies. Got it, thanks.

Do you believe our economy has done well under Obama?

#1 element that has benefited main street during Obama's tenure is the fall of oil prices - which Obama did everything he could to prevent.

Shall we praise his incompetence in not stopping the frackers?

Obama has been too busy stealing the public treasury and funneling it to his Wall Street cronies to have much of an impact elsewhere.

 

[Faun]

Historic high huh? Obviously that was before the 08 crash. That means it was declining before Obama took office. Either way it wouldn't change the fact that 11 million jobs have been created since Obama's presidency began. 3 million of those came directly from his stimulus package.

If so many jobs were created, why are there so many people still out of the workforce? Don't forget there has been a lot of population growth as well over 10 years, which is why percentage of the population in the workforce is more accurate.

Well gee the unemployment rate speaks for itself. Also, the labor participation has to do with baby boomers and more people going on disability - not just discouragement.

The national median age has not gone up significantly over the last ten years. The excuse of the baby boomers retiring is total BS. We have had a surge in young people with immigration to offset retiring people.

When people drop out of looking for a job because they cannot find one, that is due to discouragement, not some fantasy jobs bill Obama passed.

Did all those baby boomers go on welfare as well? Is that why welfare is at record highs too? Lol

Nonsense. People are retiring now at a rate of about 3 times higher than prior to 2008, the year baby boomers began hitting the age of 62. Since then, over 7 million baby boomers have retired, which is roughly half of the increase of people who are not in the workforce during that same period of time.

And yet our immigration rates replenish those numbers easily.

Let's see your numbers ... show more than 7 million immigrants have entered the labor force during that period...

 

[Oldstyle]

The drop in gas prices is putting a massive amount of money in the pockets of Americans to be spent on other things. Rest assured that Barry will lay claim to any economic benefits from that as well even though low gas prices go completely counter to what he wanted. Anyone want to wager how long it's going to be before a liberal calls for a big bump in the gas tax?

You mean TECHNOLOGY created the boom? And the GOP wants to defund education and research? lol


Let's just follow Dubya/GOP lead of pushing people to 'shop' and give tax credits of $5,000+ to buy gas sucking SUV's, that will help US right? lol

Kindly explain why oil and natural gas production on Federally controlled lands is actually down under the Obama Administration when overall production of oil and natural gas is up substantially on lands controlled privately or by the States?

So who's REALLY responsible for all those new jobs created in the oil and natural gas industries? It certainly isn't Barack Obama! Quite obviously if he had control of all the oil and gas producing land in the US the price of gasoline would be $6 a gallon right now.

 

[Dad2three]

Evasions? lol, DID or did not the Banksters run a WORLD WIDE CREDIT BUBBLE? Did Dubya cheer them on in the US and fight to keep it going?

Rarely do your responses mesh with the discussion.

WHEN you foray away from the hating points and attempt to provide a thought of your own, you make a fool of yourself.

Barney Frank? Minority member on the GOP House where simple majority rules? PLEASE tell me the super powers he had??? lol

Pretty boilerplate conservative, always blubbering excuses about how conservatives aren't responsible for the complete and utter failure of their policies

Bush talked about GSE reform. He talked and he talked. And then he stopped reform. (read that as many times as necessary. Bush stopped reform). And then he stopped it again


STATEMENT OF ADMINISTRATION POLICY

The Administration strongly believes that the housing GSEs should be focused on their core housing mission, particularly with respect to low-income Americans and first-time homebuyers. Instead, provisions of H.R. 1461 that expand mortgage purchasing authority would lessen the housing GSEs' commitment to low-income homebuyers.

George W. Bush: Statement of Administration Policy: H.R. 1461 - Federal Housing Finance Reform Act of 2005

Yes, he said he was against it because it "would lessen the housing GSEs' commitment to low-income homebuyers".



Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse

Bush forced Freddie and Fannie to purchase more low income home loans, $440 billion in MBSs and then reversed the Clinton rule that actually reigned in Freddie and Fannie

FACTS on Dubya s great recession US Message Board - Political Discussion Forum


Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown

Mortgage giants Fannie Mae and Freddie Mac have been cast as the major villains of the financial crisis, but Michael Hudson reports that Wall Street firms were the prime offenders.

Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.


Wall Street Not Fannie and Freddie Led Mortgage Meltdown - The Daily Beast

 

[Dad2three]

Evasions? lol, DID or did not the Banksters run a WORLD WIDE CREDIT BUBBLE? Did Dubya cheer them on in the US and fight to keep it going?

Rarely do your responses mesh with the discussion.

WHEN you foray away from the hating points and attempt to provide a thought of your own, you make a fool of yourself.

YOU DO REALIZE DUBYA WAS THE REGULATOR OF THE GSE'S RIGHT??? LOL

June 17, 2004

Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.
Home builders fight Bush s low-income housing - Jun. 17 2004



Strong opposition by the Bush administration forced a top Republican congressman to delay a vote on a bill that would create a new regulator for mortgage giants Fannie Mae and Freddie Mac.


Oxley pulls Fannie, Freddie bill under heat from Bush - MarketWatch


The critics have forgotten that the House passed a GSE reform bill in 2005 that could well have prevented the current crisis, says Mr Oxley, now vice-chairman of Nasdaq.”

“What did we get from the White House? We got a one-finger salute.”

Oxley was Chairman of the House Financial Services committee and sponsor of the only reform bill to pass any chamber of the republican controlled congress

 

[Uncensored2008]

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown

Mortgage giants Fannie Mae and Freddie Mac have been cast as the major villains of the financial crisis, but Michael Hudson reports that Wall Street firms were the prime offenders.

Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.


Wall Street Not Fannie and Freddie Led Mortgage Meltdown - The Daily Beast

Oh look, cut & paste idiocy from a hate site...

What a surprise...

Barney Frank? Minority member on the GOP House


BWAHAHAHAHAHHAHAHAHAHAHA

You are the DUMBEST ************ on the board, by a huge margin..

Frank a Republican - too funny...

 

[Dad2three]

The drop in gas prices is putting a massive amount of money in the pockets of Americans to be spent on other things. Rest assured that Barry will lay claim to any economic benefits from that as well even though low gas prices go completely counter to what he wanted. Anyone want to wager how long it's going to be before a liberal calls for a big bump in the gas tax?

You mean TECHNOLOGY created the boom? And the GOP wants to defund education and research? lol


Let's just follow Dubya/GOP lead of pushing people to 'shop' and give tax credits of $5,000+ to buy gas sucking SUV's, that will help US right? lol

Kindly explain why oil and natural gas production on Federally controlled lands is actually down under the Obama Administration when overall production of oil and natural gas is up substantially on lands controlled privately or by the States?

So who's REALLY responsible for all those new jobs created in the oil and natural gas industries? It certainly isn't Barack Obama! Quite obviously if he had control of all the oil and gas producing land in the US the price of gasoline would be $6 a gallon right now.

LINKS? lol

Yeah, it WASN'T technology that did it!

 

[Oldstyle]

The drop in gas prices is putting a massive amount of money in the pockets of Americans to be spent on other things. Rest assured that Barry will lay claim to any economic benefits from that as well even though low gas prices go completely counter to what he wanted. Anyone want to wager how long it's going to be before a liberal calls for a big bump in the gas tax?

You mean TECHNOLOGY created the boom? And the GOP wants to defund education and research? lol


Let's just follow Dubya/GOP lead of pushing people to 'shop' and give tax credits of $5,000+ to buy gas sucking SUV's, that will help US right? lol

Kindly explain why oil and natural gas production on Federally controlled lands is actually down under the Obama Administration when overall production of oil and natural gas is up substantially on lands controlled privately or by the States?

So who's REALLY responsible for all those new jobs created in the oil and natural gas industries? It certainly isn't Barack Obama! Quite obviously if he had control of all the oil and gas producing land in the US the price of gasoline would be $6 a gallon right now.

LINKS? lol

Yeah, it WASN'T technology that did it!

It WASN'T Obama that did it! That's my point. Why you're babbling about technology escapes me. Do you think that Barack Obama somehow provided the technology to make developing all this new oil and gas production possible? In case you haven't been paying attention for the last six years...this is the President who HATES fossil fuels! If it's not "green" then Barry's not in favor of it! So tell me what's lowering the cost of gas in your car and providing much needed jobs...fossil fuels...or green energy?

 

[Dad2three]

Historic high huh? Obviously that was before the 08 crash. That means it was declining before Obama took office. Either way it wouldn't change the fact that 11 million jobs have been created since Obama's presidency began. 3 million of those came directly from his stimulus package.

If so many jobs were created, why are there so many people still out of the workforce? Don't forget there has been a lot of population growth as well over 10 years, which is why percentage of the population in the workforce is more accurate.

Well gee the unemployment rate speaks for itself. Also, the labor participation has to do with baby boomers and more people going on disability - not just discouragement.

The national median age has not gone up significantly over the last ten years. The excuse of the baby boomers retiring is total BS. We have had a surge in young people with immigration to offset retiring people.

When people drop out of looking for a job because they cannot find one, that is due to discouragement, not some fantasy jobs bill Obama passed.

Did all those baby boomers go on welfare as well? Is that why welfare is at record highs too? Lol

Nonsense. People are retiring now at a rate of about 3 times higher than prior to 2008, the year baby boomers began hitting the age of 62. Since then, over 7 million baby boomers have retired, which is roughly half of the increase of people who are not in the workforce during that same period of time.

Oops. Looks like the smelly goat is wrong one more time. Actually you're wrong every time you post. Because you're both ignorant and stupid. In any case, people can work beyond retirement age. The question is why they arent.
U.S. Unemployment Retirees Are Not The Labor Exodus Problem - Forbes

More right wing lies from the rabbit, shocked


Retirement Among Baby Boomers Contributing To Shrinking Labor Force. According to The Washington Post, many economists agree the shrinking labor force participation rate is largely explained by a demographic shift, wherein "baby boomers are starting to retire en masse":


But since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does

The incredible shrinking labor force - The Washington Post

 

[Paperman299]

So essentially, when the economy does well under a Democratic president, that was an event outside of his control. But when the economy does poorly under a Democratic president, that was a direct result of his policies. Got it, thanks.

Do you believe our economy has done well under Obama?

#1 element that has benefited main street during Obama's tenure is the fall of oil prices - which Obama did everything he could to prevent.

Shall we praise his incompetence in not stopping the frackers?

Obama has been too busy stealing the public treasury and funneling it to his Wall Street cronies to have much of an impact elsewhere.

I actually was not talking about Obama directly, but sure. Let's talk about this now.

First, hasn't it been repeated often enough on this board that presidents do not have control over oil prices? So please provide me with a link showing evidence of how Obama has actually tried to escape this fact and, irrationally, keep gas prices high.

Second, show me where Obama has actually made it a significant part of his program as president to tackle fracking. I am a voter living in a state where fracking is exponentially ramping up the number of earthquakes, and I would love to have another reason to vote Democrat.

Third, definitely please provide a link.

 

[Dad2three]

Which bills did Barney Frank prevent from passing?

Your fellow Communist lied that "Dubya cheered the bubble."

Facts are bane of the left - which is why we so rarely see any from you.

"Your fellow Communist lied that "Dubya cheered the bubble.""

Right-wingers Want To Erase How George Bush's "Homeowner Society" Helped Cause The Economic Collapse


2004 Republican Convention:

Another priority for a new term is to build an ownership society, because ownership brings security and dignity and independence.
...

Thanks to our policies, home ownership in America is at an all- time high.

(APPLAUSE)

Tonight we set a new goal: 7 million more affordable homes in the next 10 years, so more American families will be able to open the door and say, "Welcome to my home."


June 17, 2004


Builders to fight Bush's low-income plan


NEW YORK (CNN/Money) - Home builders, realtors and others are preparing to fight a Bush administration plan that would require Fannie Mae and Freddie Mac to increase financing of homes for low-income people, a home builder group said Thursday.


Home builders fight Bush's low-income housing - Jun. 17, 2004


Predatory Lenders' Partner in Crime

Predatory lending was widely understood to present a looming national crisis.

What did the Bush administration do in response? Did it reverse course and decide to take action to halt this burgeoning scourge?

Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye

In 2003, during the height of the predatory lending crisis, the OCC (EXE BRANCH) invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative

Eliot Spitzer - Predatory Lenders' Partner in Crime


Agency'S 2004 Rule Let Banks Pile Up New Debt

2004 Dubya allowed the leverage rules to go from 12-1 to 35-1+ which flooded the market with cheap money!

http://www.nytimes.com/2008/10/03/business/03sec.html?pagewanted=all



The SEC Rule That Broke Wall Street

The SEC Rule That Broke Wall Street.



Bush drive for home ownership fueled housing bubble


He insisted that Fannie Mae and Freddie Mac meet ambitious new goals for low-income lending.

Concerned that down payments were a barrier, Bush persuaded Congress to spend as much as $200 million a year to help first-time buyers with down payments and closing costs.

And he pushed to allow first-time buyers to qualify for government insured mortgages with no money down



"Another form of easing facilitated the rapid rise of mortgages that didn't require borrowers to fully document their incomes. In 2006, these low- or no-doc loans comprised 81 percent of near-prime, 55 percent of jumbo, 50 percent of subprime and 36 percent of prime securitized mortgages."

Q HOLY JESUS! DID YOU JUST PROVE THAT OVER 50 % OF ALL MORTGAGES IN 2006 DIDNT REQUIRE BORROWERS TO DOCUMENT THEIR INCOME?!?!?!?

A Yes.




Q WHO THE HELL LOANS HUNDREDS OF THOUSANDS OF DOLLARS TO PEOPLE WITHOUT CHECKING THEIR INCOMES?!?!?

A Banks.

Q WHY??!?!!!?!

A Two reasons, greed and Bush's regulators let them.

FACTS on Dubya s great recession US Message Board - Political Discussion Forum

 

[Paperman299]

The drop in gas prices is putting a massive amount of money in the pockets of Americans to be spent on other things. Rest assured that Barry will lay claim to any economic benefits from that as well even though low gas prices go completely counter to what he wanted. Anyone want to wager how long it's going to be before a liberal calls for a big bump in the gas tax?

You mean TECHNOLOGY created the boom? And the GOP wants to defund education and research? lol


Let's just follow Dubya/GOP lead of pushing people to 'shop' and give tax credits of $5,000+ to buy gas sucking SUV's, that will help US right? lol

Kindly explain why oil and natural gas production on Federally controlled lands is actually down under the Obama Administration when overall production of oil and natural gas is up substantially on lands controlled privately or by the States?

So who's REALLY responsible for all those new jobs created in the oil and natural gas industries? It certainly isn't Barack Obama! Quite obviously if he had control of all the oil and gas producing land in the US the price of gasoline would be $6 a gallon right now.

LINKS? lol

Yeah, it WASN'T technology that did it!

It WASN'T Obama that did it! That's my point. Why you're babbling about technology escapes me. Do you think that Barack Obama somehow provided the technology to make developing all this new oil and gas production possible? In case you haven't been paying attention for the last six years...this is the President who HATES fossil fuels! If it's not "green" then Barry's not in favor of it! So tell me what's lowering the cost of gas in your car and providing much needed jobs...fossil fuels...or green energy?

Answer: OPEC.

 

[Dad2three]

Wall Street, Not Fannie and Freddie, Led Mortgage Meltdown

Mortgage giants Fannie Mae and Freddie Mac have been cast as the major villains of the financial crisis, but Michael Hudson reports that Wall Street firms were the prime offenders.

Mortgages financed by Wall Street from 2001 to 2008 were 4½ times more likely to be seriously delinquent than mortgages backed by Fannie and Freddie.


Wall Street Not Fannie and Freddie Led Mortgage Meltdown - The Daily Beast

Oh look, cut & paste idiocy from a hate site...

What a surprise...

Barney Frank? Minority member on the GOP House


BWAHAHAHAHAHHAHAHAHAHAHA

You are the DUMBEST ************ on the board, by a huge margin..

Frank a Republican - too funny...

Yeah, Barney was minority member of the GOP Majority House 1995-Jan 2007, what super powers did he have to stop ANY BILL THE GOP WANTED? lol

 

[Uncensored2008]

I actually was not talking about Obama directly, but sure. Let's talk about this now.

First, hasn't it been repeated often enough on this board that presidents do not have control over oil prices? So please provide me with a link showing evidence of how Obama has actually tried to escape this fact and, irrationally, keep gas prices high.

Yer kidding, right?

Obama blocks Bristol Bay oil gas development - Elana Schor and Alex Guill n - POLITICO
PICKET Flashback - Oil drilling permits down 36 percent under Obama - Washington Times
By Blocking Gulf Drilling Obama Costs Jobs and Raises Gas Prices - US News
American Energy Roadblocks by the Obama Administration - House Committee on Natural Resources

Second, show me where Obama has actually made it a significant part of his program as president to tackle fracking. I am a voter living in a state where fracking is exponentially ramping up the number of earthquakes, and I would love to have another reason to vote Democrat.

Third, definitely please provide a link.

Obama lacks the power to block fracking on private land, but peruse the above links and it's clear that he has actively sought to frustrate domestic oil production.

 

[Dad2three]

Who the hell is denying Obama didn't extend Bush's tax cuts? Yeah no shit he did and he shouldn't have. They have added trillions to our national debt.

Oh and the economy is better. Do you even know what the unemployment rate is now in comparison to the end of 2008? Obviously not. You are also oblivious to the fact that the investment class and the stock market is doing better now more than ever.

So you can admit that the economy is getting better, and we didn't raise income taxes.

yes, I can see that the economy is finally starting to get better. I think now that businesses see the end of the Obama regime and that he is a total Lame Duck prez now, it will continue to get better.

Lol oh really? Businesses just now are picking up? Don't be dumb. We've had consistent private sector job growth since 6 months into Obama's presidency.

Would you care to point to a single Obama initiative that's created those jobs in the private sector, Billy? The thing that's leading the surge in the economy right now is gas and oil production. Our fearless leader has done everything he could possibly do to hamper the production of fossil fuels...so obviously the jobs created there aren't his to claim! The truth of the matter is that they were created DESPITE Barack Obama!

Really? That's how tiny your brain is? TECHNOLOGY created the boom in natural resources, and NO, Obama didn't want 'all of the above' *Shaking head*

Hint DEMAND drives the economy, without it the natural resources are not mined!

Demand for oil and natural gas has actually gone down...so explain why production has increased dramatically?

TECHNOLOGY

 

[Dad2three]

Evasions? lol, DID or did not the Banksters run a WORLD WIDE CREDIT BUBBLE? Did Dubya cheer them on in the US and fight to keep it going?

Rarely do your responses mesh with the discussion.

WHEN you foray away from the hating points and attempt to provide a thought of your own, you make a fool of yourself.

MYTH: Congressional Democrats, led by Barney Frank, opposed strengthening oversight over Fannie and Freddie

So conservatives are for more regulation and Democrats are for less?

There are still thinking people who believe that Fannie and Freddie were a significant causal factor in the global financial crisis.


Big Lie is, blaming someone else. Then you activate your PR groups, starting with Fox and the RW think tanks. Then you go further and have the Wallisons of the world throw pure bs into the mix. Stir frequently.

 

[Oldstyle]

So you can admit that the economy is getting better, and we didn't raise income taxes.

yes, I can see that the economy is finally starting to get better. I think now that businesses see the end of the Obama regime and that he is a total Lame Duck prez now, it will continue to get better.

Lol oh really? Businesses just now are picking up? Don't be dumb. We've had consistent private sector job growth since 6 months into Obama's presidency.

Would you care to point to a single Obama initiative that's created those jobs in the private sector, Billy? The thing that's leading the surge in the economy right now is gas and oil production. Our fearless leader has done everything he could possibly do to hamper the production of fossil fuels...so obviously the jobs created there aren't his to claim! The truth of the matter is that they were created DESPITE Barack Obama!

Really? That's how tiny your brain is? TECHNOLOGY created the boom in natural resources, and NO, Obama didn't want 'all of the above' *Shaking head*

Hint DEMAND drives the economy, without it the natural resources are not mined!

Demand for oil and natural gas has actually gone down...so explain why production has increased dramatically?

TECHNOLOGY

Name one "technology" that Barack Obama has supported in the fossil fuels industries that has led to an increase in production?

 

[Oldstyle]

I actually was not talking about Obama directly, but sure. Let's talk about this now.

First, hasn't it been repeated often enough on this board that presidents do not have control over oil prices? So please provide me with a link showing evidence of how Obama has actually tried to escape this fact and, irrationally, keep gas prices high.

Yer kidding, right?

Obama blocks Bristol Bay oil gas development - Elana Schor and Alex Guill n - POLITICO
PICKET Flashback - Oil drilling permits down 36 percent under Obama - Washington Times
By Blocking Gulf Drilling Obama Costs Jobs and Raises Gas Prices - US News
American Energy Roadblocks by the Obama Administration - House Committee on Natural Resources

Second, show me where Obama has actually made it a significant part of his program as president to tackle fracking. I am a voter living in a state where fracking is exponentially ramping up the number of earthquakes, and I would love to have another reason to vote Democrat.

Third, definitely please provide a link.

Obama lacks the power to block fracking on private land, but peruse the above links and it's clear that he has actively sought to frustrate domestic oil production.

Exactly, Uncensored...which is why I found it so amusing to watch Obama lay claim to gains in natural gas and oil production as an "accomplishment" of his administration.

 

[Paperman299]

I actually was not talking about Obama directly, but sure. Let's talk about this now.

First, hasn't it been repeated often enough on this board that presidents do not have control over oil prices? So please provide me with a link showing evidence of how Obama has actually tried to escape this fact and, irrationally, keep gas prices high.

Yer kidding, right?

Obama blocks Bristol Bay oil gas development - Elana Schor and Alex Guill n - POLITICO
PICKET Flashback - Oil drilling permits down 36 percent under Obama - Washington Times
By Blocking Gulf Drilling Obama Costs Jobs and Raises Gas Prices - US News
American Energy Roadblocks by the Obama Administration - House Committee on Natural Resources

Second, show me where Obama has actually made it a significant part of his program as president to tackle fracking. I am a voter living in a state where fracking is exponentially ramping up the number of earthquakes, and I would love to have another reason to vote Democrat.

Third, definitely please provide a link.

Obama lacks the power to block fracking on private land, but peruse the above links and it's clear that he has actively sought to frustrate domestic oil production.

None of that can affect oil prices. We control literally 2% of the world's oil reserves. Again: The president cannot control oil prices.

And since I suppose you have 0 evidence that Obama has attempted to frustrate fracking specifically, I'd say that there probably isn't any, that you were just talking.

 

[Dad2three]

I actually was not talking about Obama directly, but sure. Let's talk about this now.

First, hasn't it been repeated often enough on this board that presidents do not have control over oil prices? So please provide me with a link showing evidence of how Obama has actually tried to escape this fact and, irrationally, keep gas prices high.

Yer kidding, right?

Obama blocks Bristol Bay oil gas development - Elana Schor and Alex Guill n - POLITICO
PICKET Flashback - Oil drilling permits down 36 percent under Obama - Washington Times
By Blocking Gulf Drilling Obama Costs Jobs and Raises Gas Prices - US News
American Energy Roadblocks by the Obama Administration - House Committee on Natural Resources

Second, show me where Obama has actually made it a significant part of his program as president to tackle fracking. I am a voter living in a state where fracking is exponentially ramping up the number of earthquakes, and I would love to have another reason to vote Democrat.

Third, definitely please provide a link.

Obama lacks the power to block fracking on private land, but peruse the above links and it's clear that he has actively sought to frustrate domestic oil production.

YOU'RE JOKING RIGHT???



RECORD OIL/GAS, AND YOU WANT TO DESTROY MORE PUBLIC WILDERNESS? lol

Oct 23, 2014

Energy companies stockpiling drilling permits across West

But BLM data show that Concho already owns -- but has yet to use -- more than 150 drilling permits it received as far back as 2010 in southeast New Mexico's Eddy and Lea counties.

Concho is among hundreds of oil and gas companies that own, but haven't used, at least 5,810 drilling permits, most of which are located in New Mexico, Utah and Wyoming, according to a Greenwire review.

But those are just the permits BLM can readily identify in its electronic database. The numbers don't include all expired permits for which industry has requested an extension, or permits that are part of a lease suspension, BLM said.


BLM Director Neil Kornze said in July that roughly 7,000 permits remain idle, a sign that BLM is staying ahead of industry's permit demand.

The Obama administration and its green allies have touted these idle permit figures for years, in large part to rebut industry criticism that BLM permitting delays are causing companies to flock to private -- and less regulated -- lands.

Federal land once accounted for 36 percent of U.S. natural gas production, but it now represents less than 16 percent as drillers sought more promising shale plays outside the federal estate, according to the U.S. Energy Information Administration.


PUBLIC LANDS Energy companies stockpiling drilling permits across West -- Thursday October 23 2014 -- www.eenews.net