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Keyword: offshoreoil

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  • Louisiana's Jindal: Where's Obama?

    05/25/2010 4:42:45 PM PDT · by Kaslin · 34 replies · 1,299+ views
    IBD Editorials ^ | May 25, 2010 | Investors Business Daily staff
    Emergencies: As frustration with the federal response grows, Louisiana's governor lashes out at the feds for doing little except blame BP for the Gulf oil spill. Meanwhile, Congress sees a chance to raise your gas taxes. While the Obama administration continues on its quest to fundamentally transform America, the largely unabated Deepwater Horizon spill in the Gulf of Mexico threatens to fundamentally transform the ecosystems and economy of Louisiana and the Gulf region. The federal government's response so far has consisted largely of scapegoating BP and ignoring its own responsibilities and lack of preparation, railing against Big Oil, while Congress...
  • Obama's Katrina

    05/03/2010 6:10:49 PM PDT · by Kaslin · 52 replies · 1,445+ views
    Investors.com ^ | May 3, 2010 | INVESTORS BUSINESS DAILY Staff
    Media Bias: As the Gulf Coast faced ecological disaster, the president yukked it up with White House correspondents. His Saturday radio address didn't even mention the oil spill. President Bush, call your office. Rarely has media sycophancy been on such sharp display as in the largely indifferent response to President Obama's own indifference to the oil rig disaster in the Gulf of Mexico. The coverage has been far different from that given to President Bush's handling of the aftermath of Hurricane Katrina. The White House announced Saturday morning that Obama would head to the Gulf Coast on Sunday, just a...
  • Interior Unveils Plan to Split MMS Into 3 Agencies

    05/20/2010 4:50:33 PM PDT · by Who is John Galt? · 8 replies · 183+ views
    In response to the Gulf of Mexico disaster, the federal agency that oversees offshore drilling will be split into three divisions to separate its energy development, enforcement and revenue collecting functions. The three jobs currently performed by the Minerals Management Service, which collects $13 billion in revenue every year, "are conflicting missions and must be separated," Interior Secretary Ken Salazar said today...
  • Drilling Oil Execs For Answers

    05/11/2010 4:26:22 PM PDT · by Kaslin · 13 replies · 455+ views
    Investors.com ^ | May 11, 2010 | Investors Business Daily staff
    The BP Spill: Tuesday on Capitol Hill, oil executives were subjected to the Senate's latest show trial. Senators did not say the accident in federal waters was a federal responsibility or that nature spills more oil every day. The morning hearing by the Energy and Natural Resources Committee chaired by Sen. Jeff Bingaman of New Mexico and the afternoon session before California Sen. Barbara Boxer's Environmental and Public Works Committee prove White House Chief of Staff Rahm Emanuel's dictum that a good crisis is a terrible thing to waste — especially when your goal is exploiting the Deepwater Horizon disaster...
  • Drillgate: Secretary Salazar's Cover-Up

    02/08/2010 5:50:44 PM PST · by Kaslin · 14 replies · 1,136+ views
    Investors.com ^ | February 8, 2010 | INVESTORS BUSINESS DAILY Staff
    Energy The administration asked for public comments on a plan to expand offshore drilling. When they came in 2-to-1 in favor, the Interior Department sat on the news. Time for a "Texas tea" party? When you ask for public comment on a major policy issue, at some point you should make the results public, not hide them until you can figure out a way to spin the public reaction to support a conclusion you've already drawn. On its last business day in office, the Bush administration published a proposed draft of a five-year plan to lease areas in the Atlantic...
  • Louisiana Spill: Big Oil's Chernobyl?

    04/30/2010 5:18:32 PM PDT · by Kaslin · 87 replies · 2,100+ views
    Investors.com ^ | April 30, 2010 | INVESTORS BUSINESS DAILY Staff
    Energy: The administration has banned new offshore drilling until the Gulf oil spill is investigated. Was its heart in it anyway? It seems environmental concerns apply only to certain forms of energy. No one pays much attention to the aquatic "dead zones" that have appeared off our shores at the mouths of our rivers due to agricultural runoff created by mandates for corn-based ethanol. Ethanol is green energy, good energy — never mind that such biofuels drive up food prices, increase hunger around the world and damage the environment in their own way. The explosion that blew apart an oil...
  • Chortling At Chu

    03/12/2010 5:07:46 PM PST · by Kaslin · 18 replies · 957+ views
    Investors.com ^ | March 12, 2010 | INVESTORS BUSINESS DAILY Staff
    Future Fuels: Our secretary of energy pushes bio-refineries and windmills to oil executives at an energy conference as the administration announces a three-year offshore drilling ban. This is a policy for economic suicide. They don't qualify as an official group of victims, but carbon-Americans, as they have been called, did not have much to cheer about last week, when Energy Secretary Steven Chu addressed CERAWeek 2010, a premier industry conference hosted by IHS Cambridge Energy Research Associates. With an economy struggling to regain sound footing, Chu advocated a starvation diet devoid of additional fossil fuels that are to remain under...
  • Drilling Ban To Cost Trillions

    02/16/2010 4:16:12 PM PST · by Kaslin · 21 replies · 1,321+ views
    Investors.com ^ | February 16, 2010 | INVESTORS BUSINESS DAILY Staff
    Energy: A new study shows that our reluctance to develop domestic energy will cost the beleaguered U.S. economy trillions in opportunity costs, reduce our gross domestic product and increase our trade deficit. From trying to stimulate jobs in nonexistent ZIP codes at great expense to worshiping the false gods of climate change, our biggest deficit these days may be in the area of common sense. A new study shows that many of our wounds are self-inflicted as we forgo the wealth and jobs to be found in our waters and under our feet. The study by Science Applications International Corp....
  • The Public Is Unaware of the Magnitude of Natural Seep Pollution

    02/16/2010 3:00:00 PM PST · by Halfmanhalfamazing · 34 replies · 1,481+ views
    The largest natural oil and gas seeps in the Western Hemisphere lie in the Santa Barbara Channel. According to the California State Lands Commission,they comprise more than 1,200 of the over 2,000 active submarine seeps along the California coast. Half of these occur within three miles of an area called Coal Oil Point, located just west of Santa Barbara near the University of California, Santa Barbara (UCSB) campus. It is estimated that oil seepage for a single 6-mile stretch, including Coal Oil Point, averages 10,000 gallons of oil each day (240 barrels). Every 12 months about 86,000 barrels of oil...
  • Palin Vs. Arnold: Terminating California

    12/17/2009 5:37:51 PM PST · by Kaslin · 25 replies · 1,929+ views
    Investors.com ^ | December 17, 2009 | INVESTORS BUSINESS DAILY staff
    Leadership: Alaska's ex-governor asks a question we'd like answered: Why is California's current governor pushing the same policies in Copenhagen that helped drive his state into record deficits and unemployment? The movie series that made Arnold Schwarzenegger a household name involved cyborgs traveling through time to alternately try to destroy or save one John Connor, who would grow up to be the leader of the resistance against a race of machines that ruled the planet. Prominent in the series was his tough cookie of a mom, Sarah Connor. Another Sarah has taken the lead in another resistance against another group...
  • Palin Vs. Gore: Oceans Apart

    12/14/2009 5:23:50 PM PST · by Kaslin · 30 replies · 2,002+ views
    Investors.com ^ | December 14, 2009 | INVESTORS BUSINESS DAILY Staff
    Global Warming: The Alaskan governor who knew polar bears weren't endangered says the planet isn't either and challenges the oracle of climate change. Al Gore says despite the CRU e-mails, the situation is of the utmost gravity. In a Dec. 9 Washington Post op-ed, Sarah Palin noted that the Climate-gate e-mails from the Climate Research Unit at the University of East Anglia "reveal that leading climate 'experts' deliberately destroyed records, manipulated data to 'hide the decline' in global temperatures and tried to silence their critics from publishing in peer-reviewed journals." This did not sit well with Gore. "The entire North...
  • California Should Copy Texas

    12/07/2009 5:10:19 PM PST · by Kaslin · 31 replies · 1,738+ views
    Investors.com ^ | December 7, 2009 | INVESTORS BUSINESS DAILY staff
    California: While Gov. Arnold Schwarzenegger worries about rising seas, his state sinks below the waves. Don't mess with Texas, they say. But California and the nation could follow its lead. Last Wednesday, Gov. Schwarzenegger released a new report based on research compiled by the California Energy Commission claiming that by 2100 San Francisco Bay would be more bay than San Francisco, with Fisherman's Wharf and Treasure Island under the rising waters of climate change. His show-and-tell, which included a new Google Earth application the commission spent $150,000 to help develop, goes a long way toward explaining the once-Golden State's slide...
  • Russia to invest $2 trillion in energy sector, shift focus to Asia

    11/27/2009 7:53:38 AM PST · by thackney · 6 replies · 399+ views
    Calgary Herald ^ | November 27, 2009 | Herald News Services
    Russia plans to invest up to $625 billion over the next two decades to raise oil production by about 10 per cent and a further $590 billion to add at least 33 per cent to its gas output, the Energy Ministry said on Thursday. The oil and gas investment, part of a $2-trillion-plus plan to develop the Russian energy sector by 2030, also envisages Asian markets taking a much larger share of Russia's exports as the country develops resource fields in Siberia and the Far East. "This will allow the Russian energy sector to lower its risk of being dependent...
  • Power To Spare (Palin vs. Biden on energy)

    11/05/2009 4:53:14 PM PST · by raptor22 · 3 replies · 702+ views
    Investor's Business Daily ^ | November 5, 2009 | IBD editorial staff
    Leadership: As Palin jousts with Biden on energy independence, the government reports that we lead the world in energy reserves. From oil to gas to coal, we are sitting on prosperity. So why are we importing anything? One of the interesting sidelights of the NY-23 race was an exchange on energy independence between Vice President Joe Biden and the former governor of energy-rich Alaska, Sarah Palin. Biden, who came in to campaign for Democrat Bill Owens, was reminded of the issue of energy. "The fact of the matter is that Sarah Palin thinks the answer to energy was 'Drill, baby,...
  • Chinese giant to buy US oil assets: company (Norwegian energy group Statoil)

    11/04/2009 8:49:53 AM PST · by NormsRevenge · 15 replies · 1,064+ views
    AFP on Yahoo ^ | 11/4/09 | Pierre-Henry Deshayes
    OSLO (AFP) – Norwegian energy group Statoil said Wednesday it was selling some of its US offshore oil assets to China's state-owned CNOOC, marking the first step by a Chinese energy major into the US market. The sale, announced along with Statoil's quarterly results, involves a limited stake for the China National Offshore Oil Corporation (CNOOC) in four exploitation licences for deepwater blocks bought in 2007 and 2008. "On 29 October Statoil signed a farm down agreement with the Chinese company CNOOC involving a number of Statoil's leases in the Gulf of Mexico," Statoil said in its third-quarter earnings statement....
  • Foolishly Choosing Bears Over Barrels

    10/26/2009 5:25:31 PM PDT · by Kaslin · 3 replies · 826+ views
    IBD Editorials ^ | October 26, 2009 | INVESTORS BUSINESS DAILY Staff
    Ecology: The administration creates the mother of all protected habitats for a species whose numbers have increased since Al Gore's "An Inconvenient Truth." It's our hopes for energy independence that are drowning. When filmmaker Phelim McAleer, whose documentary "Not Evil Just Wrong" takes apart the myths of global warming, got to ask Gore a question at the annual conference of the Society of Environmental Journalists, McAleer brought up the nine critical errors in Gore's film "An Inconvenient Truth." A British court two years ago listed them and said they must be righted before the film could be shown in schools...
  • In Alaska, The Drill Is Gone (It's the 9th Circuit Court of Appeals again)

    11/24/2008 5:41:50 PM PST · by Kaslin · 37 replies · 1,353+ views
    IBD Editorials ^ | November 24, 2008
    Energy: Remember those 68 million acres House Speaker Nancy Pelosi said the oil companies had to use or lose? According to the 9th Circuit Court of Appeals in San Francisco, they can't drill there either.When President Bush lifted the executive order banning oil and gas exploration in federally protected offshore areas, Speaker Pelosi called the action a giveaway of "more public resources to the very same oil companies that are sitting on 68 million acres of federal lands they've already leased." We thought it was nonsense to accuse the oil companies of sitting on profitable oil resources waiting for sky-high...
  • A California 'Black Gold' Rush

    09/29/2009 8:52:35 AM PDT · by raptor22 · 13 replies · 1,492+ views
    Real Clear Markets ^ | September 29, 2009 | IBD staff
    Energy: An amazing number of oil finds have been made this year, including the biggest in California in 35 years. If the world is running out of oil, why do we keep finding more of it? The mantra of the anti-drilling crowd has been that oil companies like to sit on their leases and the oil in the ground, hoping to drive up the price. They should use the leases they have or lose them, these critics say. They also like to add that the world is running out of oil so it doesn't matter anyway. Occidental Petroleum hasn't been...
  • A California 'Black Gold' Rush

    09/28/2009 4:48:14 PM PDT · by Kaslin · 22 replies · 2,207+ views
    IBD Editorials ^ | September 28, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy: An amazing number of oil finds have been made this year, including the biggest in California in 35 years. If the world is running out of oil, why do we keep finding more of it? The mantra of the anti-drilling crowd has been that oil companies like to sit on their leases and the oil in the ground, hoping to drive up the price. They should use the leases they have or lose them, these critics say. They also like to add that the world is running out of oil so it doesn't matter anyway. Occidental Petroleum hasn't been...
  • Forget 'Peak Oil' — Drill, BP, Drill

    09/03/2009 5:28:33 PM PDT · by Kaslin · 16 replies · 2,009+ views
    IBD Editorials ^ | September 3, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy Policy: Ignoring peak-oil Cassandras, BP has made another giant oil find in the Gulf of Mexico. We're not running out of oil. Our government just doesn't want us to look for it.The world is running out of oil and good riddance. That's the environmentalists' mantra. But since the first well was drilled near Titusville, Pa., 150 years ago, the prophecy has gone unfulfilled. Trouble is, those darn greedy oil companies keep finding the stuff. Oil has been produced in the Gulf of Mexico since the first well was drilled by Kerr-McGee Corp. in 1947. Some of the wells are...