Skip to comments.China's Will To Drill
Posted on 10/13/2010 7:55:07 PM PDT by raptor22
Energy Policy: The administration lifts the Gulf drilling moratorium in time for the election, but it's not as good as it sounds. Meanwhile, China buys up Texas oil land to develop the energy reserves we won't.
The lifting of the Gulf drilling ban imposed after the explosion of British Petroleum's Macondo well came as welcome news. But like anything this administration does, one must read the fine print.
Interior Secretary Ken Salazar announced that the ban was being lifted before its Nov. 30 target because of the "the higher standards we have set" for drillers applying for new permits.
(Excerpt) Read more at investors.com ...
I have a certain amount of respect for the Chinese government. They seem to understand that their first responsibility is for the security and wealth of their own people and everything and everyone else is of secondary concern.
What a novel idea.
They seem to have a good handle on long-term planning, something that is now impossible in the US. Present-day politicians can’t think past even-numbered years.
The ban is being lifted for who?