That's what a friend tells me, though I haven't read anything about it in the media except below(no wonder). If so, I guess that was another campaign lie for votes. The price of oil is low, but expected to climb considerably in a few short years. At least having the option to drill might give us supply to combatprices reaching astronomical levels again. Not surprisingly, Obama is not for the people of this country, but for his agenda instead. I don't see him using his own money to help pay for the much higher cost of the alternatives he's pushing!
CNS News reports President-Elect Barack Obama"™s Interior Secretary nomineeSenator Ken Salazar intends to restore the only-recently-lifted ban on some offshore drilling for oil.
(Sigh)
I wonder how long it will take for the regular Americans who were duped into voting for Obama (because of the enthusiasm, euphoria, etc.) to realize they have made a terrible, terrible error with regard to our nation"™s welfare"¦
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Yeah, I heard they were going to reinstate the offshore drilling ban. Scumbags. They intend to wean us from foreign oil, not by developing our own, but by taxing the bejeezus out of us.
The US oil patch is dying on the vine. A few months ago the oil companieswere whining that they had no place to drill for oil.Now they shutting down theirrigs at a rapid rate. There were 73 fewer rigs operating on 6 February, 09 thanthere were a week previously:There were 356 fewer rigs operatingon 6 February, 09 than there wereon the same date last year. Itwould take at least a couple of years to ramp up drilling to the level it was in early 08.
If you want to know what the gas and oil companies are doing go the the Baker-Hughes rig count.
Hey falcon, at when oil is $35/barrel, the oil companies loose money. I'm waiting for the day when oil recovers to above $75/barrel. Thats the magic number. I know, we'll get there again but until then the oil can sit in the ground.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Fieldmouse, I noticed that I worded my post titleincorrectly, soI just fixed it. What I meant to say is, in his campaign, Obama changed from being for the ban to being open to lifting the ban. Since he got elected, he's back to being FOR the ban. In my view, companies should at least have the option of drilling. Given expectations of higher prices going forward, it would be in their interest to drill now in expectation of profits by the time they get the oil online.
Your right doug but drilling doesn't take that long to accomplish. I was told it takes them about a month to drill down a little over a mile and then horizontally across a mile. They still need to recoup their cost and it's very hard to do at $35/barrel.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Some dip sticks would rather buy oil from overseas instead of using our own. However that just assures big trade deficits. Let just enrich the arabs, hell we can afford it. Go Bama
Did Obama REINSTATE the federal ban on drilling?
CNS News
