If you are the owner of a multi-multi million dollar rig which can rent for 500k a day, are you going to idle your rig for 6 months while obama diddles about?
The unitended consequences of Barry’s misinformed directives will drive oil and gas prices through the roof and put tons of people out of work.
The Shell well in the Chuchki Sea is in less than 150 ft of water in possibly the richest undiscovered oil resource in the USA. Shell has been blocked from drilling for years by the envirowackos and now Obama set them back another year at least. We are our own worst enemies
We really have to ask questions about the timing of this.
If I was an American oil rig company I would seriously be considering relocating to China. It is my understanding that China, Vietnam, Cuba and Mexico all have rigs in the gulf and there is nothing US law can do about it because they are in International Waters and “flagged” to a foreign country. So essentially the only companies that will be harmed by the ban are American companies.
I would be quite surprised if gasoline isn’t well above $4.00 a gallon by Labor Day.
just waiting for the ChiComs to experience an even bigger leak on one of their Gulf rigs, and to watch the shock and horror of the MSM when they thumb their noses at us over it.