Posted on 05/28/2010 8:34:23 PM PDT by Comrade Brother Abu Bubba
JEFF YASTINE, PBS NIGHTLY BUSINESS REPORT CORRESPONDENT:
Prepare for another impact from the deep water Horizon accident: higher energy prices. It`s not the rupture of the well itself that`s going to influence prices, but a six-month extension of the moratorium on new deep water drilling projects declared yesterday by the Obama administration. Bernstein Research predicts if the moratorium continues for a year, it would cut global oil supplies by 500,000 barrels a day between 2013 and 2017. That may not seem like much, but it`s nearly the margin right now between world oil production -- at 84.1 million barrels a day -- and world consumption -- at 83.7 million barrels a day. That margin, says the American Petroleum Institute`s Rayola Dougher, could make all the difference if and when U.S. and world economies began to gain ground again.
YASTINE: That moratorium comes at a time when deep water production in the Gulf makes up an increasingly large portion -- about 24 percent -- of total U.S. oil production. There will be other costs associated with safer drilling. The Bernstein report expects new regulations to add about 10 percent to the price tag of offshore production. U.S. drillers will get hit first, but if the new tougher regulations become the worldwide standard, then offshore drillers everywhere will have to pay up to comply as well. Jeff Yastine, NIGHTLY BUSINESS REPORT, Miami.
(Excerpt) Read more at pbs.org ...
Can anyone say IMPEACHMENT!
I wish they would impeach and put us out of our misery, at least in theory there would be justice.
I’m stocking up popcorn for the congressional hearings. Maxine Waters can’t wait to ‘socialize’ the oil companies. (They soon realize that the productive class will not pay the punitive taxation for very long. Gotta have a source of revenue)
I wouldn’t put it past them to have sabotaged the well to cause a disaster or enormous magnitude as an excuse to ban drilling and push cap and trade. The coup is almost complete. Only we can stop it.
No one is in charge except for King Hussein Obama! Please - let us bow in unison!!!
No one is in charge except for King Hussein Obama! Please - let us bow in unison!!!
FUBO!!
Obama had to pay Soros for job placement.
August 2009 : Obama backed a 10 Billion dollar loan ( US tax payer backed debt ) to Petrobas
Soros owns 811 million worth of Petrobas.
Yesterday Obama added value to Petrobas by banning new drilling in the Gulf.
Obama had to pay Soros for job placement.
August 2009 : Obama backed a 10 Billion dollar loan ( US tax payer backed debt ) to Petrobas
Soros owns 811 million worth of Petrobas.
Yesterday Obama added value to Petrobas by banning new drilling in the Gulf.
Hussein is an idiot. He was the biggest recipient of BP’s campaign donations, and he is essentially protecting BP while attacking the American consumer.
The title you created
"HIGHER OIL PRICES A RESULT OF OBAMA'S MORATORIUM ON DEEP WATER DRILLING OFFSHORE USA!!!"
had to be replaced with the original published title. Please do not alter published titles nor create your own. Just copy and paste the published title found at the site of original publication.
Thanks.
You effectively shut down important information and this link as a result of your unnecessary and unwaranted interference.
Thanks for absolutely nothing!
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