Skip to comments.Russia gets the offshore drilling jobs … US sits on its duff.
Posted on 08/30/2011 12:59:15 PM PDT by Corky Boyd
Today, Russias Prime Minister Vladimir Putin announced Exxon Mobil has been awarded exploration rights in the Russian Arctic superseding efforts by BP and Rosneft the Russian state owned oil company. This amazing coup gives the US based company the rights to the highly lucrative offshore fields. Russia gets Exxon Mobils offshore drilling expertise and a massive investment. From the NY Times:
"The agreement seemed to supersede a similar but now-defunct partnership that Russias state oil company, Rosneft, reached with BP earlier this year. The deal announced Tuesday replaces BP, the British oil giant, with its American counterpart and introduces some differences in the geopolitical bargain...."
"Mr. Putin said the total investments envisioned under the agreement could reach $500 billion, including a direct investment of $200 billion to $300 billion. It was unclear what the timeline would be or whether this included the value of asset swaps."
Contrast Exxon Mobils fate to Shell Oil which has Alaskan offshore exploration and drilling rights. It has already invested nearly $4 billion in exploration, including $2.2 billion for the federal lease and was turned down for production by a fly specking EPA. Contrast it to Conoco which is being held up by the Corps of Engineers that wont allow it to build a bridge....
(Excerpt) Read more at islandturtle.blogspot.com ...
Bovine excrement #II
Another Obomber nail in the coffin of his administration. He makes Jimmah look a genius compared to what he is doing to this country. If you can’t do business with your government czars... why not do business with the other czars?
This is the same website that broke the story of the Export/Import Bank financing the Brazilian offshore drilling project that Obozo gave as a reward for Brazil’s help trying to reinstall Zelaya in Honduras.
Their perspective on the oil business is obvious on this website.
Good for Exxon, good for Russia.
Lesson to American idiots?
Stop being idiots and stop electing idiot politicians or the rest of reality is going to eat our lunch while we run around whining about climate change blah blah blah.
“He makes Jimmah look a genius compared to what he is doing to this country.”
Looking for the “Miss me yet (Jimmy C.)” bumper sticker.
You know it’s a sad day when we might be better of swithcing
presidents with Russia.
Yeah, let's put the Russkis at the same disadvantage we suffer.
Looks like Exxon-Mobil has scored a real coup!