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Russia gets the offshore drilling jobs US sits on its duff.
Island Turtle ^ | August 30, 2011 | Corky Boyd

Posted on 08/30/2011 12:59:15 PM PDT by Corky Boyd

Today, Russia’s 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 Mobil’s offshore drilling expertise and a massive investment. From the NY Times:

"The agreement seemed to supersede a similar but now-defunct partnership that Russia’s 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 Mobil’s 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 won’t allow it to build a bridge....

(Excerpt) Read more at islandturtle.blogspot.com ...


TOPICS: Government; Politics
KEYWORDS: arctic; exxonmobil; obama; oil; putin

1 posted on 08/30/2011 12:59:22 PM PDT by Corky Boyd
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To: Corky Boyd

Bovine excrement #II


2 posted on 08/30/2011 1:08:02 PM PDT by afraidfortherepublic
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To: Corky Boyd

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?


3 posted on 08/30/2011 1:15:16 PM PDT by BigFinn (BigHat wisdom: Always drink upstream from the herd.)
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To: Corky Boyd

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.


4 posted on 08/30/2011 1:20:48 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Corky Boyd
the US is NOT sitting on its duff ...



it is actively working to obstruct exploration and production
5 posted on 08/30/2011 1:30:00 PM PDT by NonValueAdded (So much stress was put on Bush's Fault that it finally let go, magnitude 6)
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To: Corky Boyd

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.


6 posted on 08/30/2011 1:48:09 PM PDT by chris37 (representative)
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To: BigFinn

“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.


7 posted on 08/30/2011 2:19:27 PM PDT by Slambat (The right to keep and bear arms. Anything one man can carry, drive or pull.)
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To: Slambat
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!

8 posted on 08/30/2011 2:38:42 PM PDT by Ole Okie (!!)
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