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Thread: New deepwater drilling permits: Zilch

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    New deepwater drilling permits: Zilch

    NEW YORK (CNNMoney.com) -- President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn't issued any new permits in the Gulf of Mexico.

    And most analysts say permits will be slow in coming through 2011.

    The Interior Department halted deep water permits shortly after BP's Macondo well blew out last April. The accident resulted in the worst oil spill in U.S. history.

    The moratorium was lifted in mid-October after government officials were confident new, stricter rules and regulations were in place.

    But no new permits for wells covered under the ban have been issued, according to a spokeswoman for the Interior Department's Bureau of Ocean Energy Management Regulation and Enforcement.

    "[BOEMRE director Michael] Bromwich has indicated that he hopes to see some approved by the end of the year but cannot speculate," the spokeswoman said in a statement.

    Even if a few permits come through, analysts say it will be a far cry from the amount issued pre-spill.

    "We're not holding our breath for a return to business as usual," Whitney Stanco, and energy analyst at the Washington Research Group, wrote in a recent research note. "Despite pressure from Gulf state lawmakers and the oil and gas industry, we believe permitting in 2011 will likely be slower than it has been in recent years."

    Offshore drilling still on hold - Nov. 12, 2010

    This is absolutely insane! As Oil prices inch up, now back around $90 per barrel, and Americans bracing to feel it at the pump, I find myself wondering why Obama, and his band of merry destructors are not taking an "all the above" approach?

    Is it willful pain inflicted on America by these inept amateurs? Or is it something more insidious? I don't know, but from what I gather, we sit above some of the largest reserves in the world, and can't get to them because of agendas of self loathing individuals, and groups that drive the WH policy.

    We should be tapping everything we can, and helping easing this crisis that Obama has manufactured. What makes it worse is that while Americans try to get it together to put a roof over their heads, and food on the table, we have had to watch vacation, after vacation from this stupid President that is tone deaf to the suffering of his own people. GAWD I can't wait til 2012!


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    Re: New deepwater drilling permits: Zilch

    Firstly, we don't have the world's largest reserves and the Gulf by itself is definitely not it.

    https://www.cia.gov/library/publicat.../2178rank.html

    Secondly, gas prices are about the same as they were a year ago. And are significantly less than they were a few years ago, and has dropped far below the measured decrease of national income.

    U.S. Retail Gasoline Historical Prices

    U.S. Retail Gasoline Historical Prices

    Now lastly, is it too much to ask to think that perhaps if the standards are stricter that it may be more difficult to get a permit? While deep water oil drilling is by no means a standard operation everywhere you go, there are of course similarities as there are with anything. However the new standards obvious would give cause to companies to rethink their permits and perhaps even submit unsatisfactory permits.

    You could argue that stricter permits are harming the overall oil supply of the world, thus increases the price. However oil production is already far above demand and its potential production is far above demand. AND given the massive oil spill that lasted for months, clearly changes were needed.

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    Re: New deepwater drilling permits: Zilch

    j-mac, do you not realize that even if the Gulf oil was flowing like Niagara Falls, it would not affect the price you pay at the pump?
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    Re: New deepwater drilling permits: Zilch

    It's not the companies rethinking their permits, it is the Obama hacks not issuing them....


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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by Middleground View Post
    j-mac, do you not realize that even if the Gulf oil was flowing like Niagara Falls, it would not affect the price you pay at the pump?
    That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by j-mac View Post
    It's not the companies rethinking their permits, it is the Obama hacks not issuing them....
    If they don't meet the standard, why should the be issued? Now if you're implying that there's another reason they aren't being issued than please, provide a source

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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by j-mac View Post
    That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.
    Ya why hasn't anyone else thought of that? I mean its not like the United States has no means to produce all its own energy. So what should we do? The free market hasn't produced all our energy domestically and our home grown big energy companies haven't done, the only option is to get the government involved to mandate, encourage, or fund new home-grown energy production.

    You socialist.

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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by Wiseone View Post
    Ya why hasn't anyone else thought of that? I mean its not like the United States has no means to produce all its own energy. So what should we do? The free market hasn't produced all our energy domestically and our home grown big energy companies haven't done, the only option is to get the government involved to mandate, encourage, or fund new home-grown energy production.

    You socialist.

    You really insult the intelligence of those you engage sir. Look, if we would drop the pretense and admit that enviro groups have strangled where we can produce our oil from, and forced this dependance on foreign sources, instead of the current path of limited space for exploration, and a stifling regime for permitting extraction we could be energy independent in short order.

    Now either present honest debate or we are done for the day, thanks.


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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by Wiseone View Post
    Firstly, we don't have the world's largest reserves and the Gulf by itself is definitely not it.

    https://www.cia.gov/library/publicat.../2178rank.html

    Secondly, gas prices are about the same as they were a year ago. And are significantly less than they were a few years ago, and has dropped far below the measured decrease of national income.

    U.S. Retail Gasoline Historical Prices

    U.S. Retail Gasoline Historical Prices

    Now lastly, is it too much to ask to think that perhaps if the standards are stricter that it may be more difficult to get a permit? While deep water oil drilling is by no means a standard operation everywhere you go, there are of course similarities as there are with anything. However the new standards obvious would give cause to companies to rethink their permits and perhaps even submit unsatisfactory permits.

    You could argue that stricter permits are harming the overall oil supply of the world, thus increases the price. However oil production is already far above demand and its potential production is far above demand. AND given the massive oil spill that lasted for months, clearly changes were needed.
    There you go again, trying to counter irrationality with empirical evidence. Haven't you read my sig line?

    You know that we're sitting above a veritable lake of oil just waiting for us to drill, baby drill, while the whacko environmentalists keep standing in the way. Why, we could go back to pre OPEC prices for gas if only the liberals would get out of the way and let the free market work its magic. You can't counter that kind of logic with pesky, boring old facts.

    Link to more facts
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    Re: New deepwater drilling permits: Zilch

    Quote Originally Posted by j-mac View Post
    That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

    j-mac
    So, mandates that private companies MUST sell their product to Americans first? Even when they can get a higher price overseas? And a mandate that Americans can't buy oil from foreign sources, even if that price is lower? So much for smaller government.

    Oh, by the way, no, prices would skyrocket. This is Econ 101 stuff here, isn't hard. We have a huge demand, and you're talking about slashing supply dramatically.
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