The Obama Moratorium: No offshore drilling while he’s in office

[thundley4]

The Obama administration’s six-month delay in approving new offshore drilling leases in federal waters will become a new three-year ban, Interior Secretary Ken Salazar quietly told reporters last Friday. Which means that no new oil and gas leases will be approved during President Obama’s term even though two –thirds of the American public supports such activity, according to a December 2009 Rasmussen poll.

Sixty percent also believe that gas and oil prices will drop if the government allows offshore drilling, opening up an estimate 14 billion barrels of oil and 55 trillion cubic feet of natural gas

On July 14, 2008 President George W. Bush lifted an executive ban on Outer Continental Shelf leasing. On October 1, 2008, in a bipartisan agreement, Congress lifted another longstanding ban on new oil and gas leasing in the OCS.

Drilling was supposed to begin this July. But Salazar said he intends to discard the 2010-2015 lease plan developed by the Bush administration in favor of a new plan that won’t even go into effect until 2012.

“Secretary Salazar has finally confirmed what had long been feared – that the Obama Administration has no intention of opening up new areas for offshore drilling during his four-years in office,” said Rep. Doc Hastings, the ranking Republican on the House Natural Resources Committee.

So for the next three years and probably more, trillions of dollars in domestic energy assets will remain untouched while billions of dollars more are spent on foreign oil.

Read more at the Washington Examiner: http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/The-Obama-Moratorium-No-offshore-drilling-while-hes-in-office-87246077.html#ixzz0hppFy2fp

No surprise is it?  I was unsure where to post this. I considered the Terrorism In America forum.

[NHSparky]

Anybody want to bet oil futures go up between $10-15/bbl in the next week?

[DefiantSix]

Anybody want to bet oil futures go up between $10-15/bbl in the next week?

Offhand, I'd put my bets on the $25 - $40 range.

[thundley4]

Remember folks, we need gas prices to rise to the $7/gal. level to meet the greenhouse gas emissions.  It's for the good of the planet. 

[Thor]

We'll see another $4/ gal this summer. Thank you, ****ing retard 0bama......

[Lacarnut]

The lying SOB said he was for offshore drilling during the campaign. Obama is a bigger liar than Clinton.

Here comes higher gasoline prices.

[thundley4]

The lying SOB said he was for offshore drilling during the campaign. Obama is a bigger liar than Clinton.

Here comes higher gasoline prices.

But we won't see any complaining in the MSM when gas prices continue to go up.

[Carl]

All the northeast states that are bankrupt will greatly appreciate the additional sales tax revenue from higher gas prices. 
Quick fix to raising taxes without anyone realizing it.

[Lacarnut]

But we won't see any complaining in the MSM when gas prices continue to go up.

His next trick will be to blame the oil companies because of their high, high, high profits of approximately 10 cents per gallon on gasoline while the government rakes in much, much more (38 cents currently). This POS in the W.H. has his eyes set on intrusive regulations, taxing those evil profits and putting a chilling effect on future exploration. We are in for a hell of a ride if the Repubs do not win many Congressional seats in Nov.

[rich_t]

His next trick will be to blame the oil companies because of their high, high, high profits of approximately 10 cents per gallon on gasoline while the government rakes in much, much more (38 cents currently). This POS in the W.H. has his eyes set on intrusive regulations, taxing those evil profits and putting a chilling effect on future exploration. We are in for a hell of a ride if the Repubs do not win many Congressional seats in Nov.

I just hope tha the right type of Repubs win those congressional seats.

Like people with spine enough to work hard to over turn as much Obama legislation as possible, and not a bunch of lib-lites.

[NHSparky]

Ended unchanged today based on Chinese inflation and their tightening of credit.

[DumbAss Tanker]

Remember folks, we need gas prices to rise to the $7/gal. level to meet the greenhouse gas emissions.  It's for the good of the planet. 

It won't matter much to the planet either way (As we both know), but it WILL do wonders for whatever lucky Republican gets the nomination in 2012.  And all joking aside, I am pretty sure we will see $4+ gas again well before that election.

[JohnnyReb]

It won't matter much to the planet either way (As we both know), but it WILL do wonders for whatever lucky Republican gets the nomination in 2012.  And all joking aside, I am pretty sure we will see $4+ gas again well before that election.

$4+ gas is bad enough but diesel fuel will go past that $4+ and diesel fuel is what fuels the economy.

[DumbAss Tanker]

$4+ gas is bad enough but diesel fuel will go past that $4+ and diesel fuel is what fuels the economy.

The gas price has a much higher impact on my personal economy, even a 10%-20% increase in the cost of goods from high diesel fuel would have a rather minor impact in my household, but what would kick my ass would be a similar increase in my direct energy costs - gas for the long commute, electric generation costs, and propane for heat.