Rep. Bachman’s definitely on the right track.
One market problem with outer continental shelf drilling I haven’t seen addressed is where the rigs will come from. Right now, virtually every deep water drill rig that exists or is under construction is under contact for years. And if you ordered a new one today it might be completed sometime in 2012.
By fighting and delaying this for years, the democrats have put the US in a tough position. Since Brazil’s Petrobras discovered big offshore oilfields last fall, they’ve been busy signing contracts on rigs and currently have something like 80% of the world’s deepwater fleet locked up for years.
Getting congress out of the way of offshore drilling is a critical first step and needs to be done now so the plans for oil exploration and development can be put in place. But the ‘now’ part of ‘drill here, drill now’ really means plan to drill now, maybe get some rigs exploring in five or six years for the continental shelf resources, then they need to get the fields producing.
America can thank the democrats and their enviro-whacko friends for letting Brazil get in front of us in offshore oilfield development. I’m sure Petrobras is grateful.
They can thank the corrupt GOP ones just as much. This is far more than a DEM vs GOP problem. This is corruption that's rampant in both parties which is holding us down. Nobody calls their hand. Gore the enviro whacko has mines on his property in Tennessee. And let's not forget it was Jeb Bush who was against drilling off the coast Florida. If good ole Jeb had ran for POTUS everybody would be singing "For He's a Jolly Good Fellow" in the party just like they are with No Drill McCain.
Rep Bachman does seem to be untainted by the Main Stream DC payola for market favors lobbyist.