Skip to comments.Obama Administration Moratorium on Oil Drilling Hurts Consumers, Report Says
Posted on 04/28/2011 4:43:56 AM PDT by Dubya-M-DeesWent2SyriaStupid!
(CNSNews.com) Although the Obama administration officially lifted the six-month ban on offshore drilling in the Gulf of Mexico in October 2010, a new report finds that the de facto moratorium still in place is harming American consumers and the budgets of local and state governments.
Since October, the Department of the Interior has approved only a handful of deepwater drilling permits in the wake of last years BP well explosion and subsequent oil spill in the Gulf of Mexico.
The report, issued by the National Center for Policy Analysis (NCPA), said increasing offshore drilling production could add nearly $5 million in revenue a day to the federal treasury and significantly reduce gas prices.
While President Obama says he supports deficit reduction, his administrations policies are only contributing to the countrys deficit problem, Rob Bluey, report author and adjunct scholar at NCPA, said in a statement about the report issued on Wednesday. Federal revenue from offshore drilling is down sharply as a result of the Obama administrations anti-drilling agenda.
(Excerpt) Read more at cnsnews.com ...
The now-proven-Ineligible Impostor: "Not enough."
And Soros’ running dog could be reelected by the mind-numbed robotos.
What a country!
I just tried searching Obama giving Brazil money to drill for oil and I found an article in the AJC blaming bad republicans and mean bad oil companies for the high price of gas. It is insane.
perfect portrait of the arrogant, narcissistic imbecile.
The EPA is doing all it can to thwart oil and gas drilling in the US.
I’ve been saying the EPA should be abolished for years, but nooooo. I was just a “kook”. Hope that $5+/gal gas is worth calling the EPA abolitionists “kooks”. Hope you’re happy.
Look at that. The marxist central bank wants to keep the marxist in office. how surprising.
I say end the Fed.
But, I’ve been told, you cna’t have a functioning economy without a marxist central bank to centrally plan the economy.
Why, it isn’t freedom if there isn’t some cartel setting the value of the paper money you’re forced to use.
Had you done a good job of researching, you would have learned that no money was given to Brazil for drilling for oil.
What happened was the bank loans to American firms acting as subcontractors on the projects were insured by the Export/Import bank against a host of problems, mostly political.
The process is ordinary and necessary to promote export sales. They regularly support projects of Boeing and GE and other mega exporters.
To actually be successful, research Export Import Bank and Overseas Private Investment Corporation
I say they are incompetent and can't help Obama win.
If raised interest rates gas and commodities might go lower but they are some negative effects having a strong dollar like Jobs, exports.
EPA? P L E A S E !
It's O B A M A.
Obama is playing America like the idiots they are. Put radicals in charge in Egypt and Libya, help Iran get the Bomb, stop drilling in the US to drive up oil prices, open the borders, spend the US into Chapter 11.
These are exactly the things you'd expect a radical Muslim PLANT to do.
What makes Americans such fools is that won't even consider that this clown named Obama is destroying America on purpose by magifying Carter's mistakes on purpose (Carter was an idiot, Obama is a traitor).
OK, so the National Center for Policy Analysis gets it.
Duh. How much do these rocket scientists get paid to state the obvious.
Guess they are another bunch of people who are educated way past their intelligence. Or maybe they went to harvard, columbia and occidental but have their grades hidden.
-——Either the Fed wanted to destroy the US economy or they have no clue——
There is a third possibility. The goal is to devalue the US$ and other major world currencies to create inflation that will result in a devaluing of the debt. The problem is after all the debt or world wide, debts.
The cumulative deficits add to the total, that is they are accumulated as total debt. No deficit reduction or decrease in spending or any other such budget bill can decrease the debt. The process merely decreases and possibly end the growth of the debt.
The only way to reduce the debt is to pay it off. There are no funds with which to make the payments. Taxes cannot be raised to the level needed to raise the money required. The only way left is to devalue the debt, reduce the value of that which is owed. There is no way taxes on the world wide debt can be raised to a level adequate to pay it off. There is no worldwide discovery of gold or silver or other new hard asset to pay off the debt.
There is only one way ....... devalue the currency and inflate the debt away.
The rule of 72 is the key. That is compounded interest will double your investment in a ratio of rate to time of 72. For a compounded rate of 6%, your money will double in 72/6 or 12 years.
The rule works in reverse as well. The debt divided by say 8% inflation will be totally diluted in nine years. It will be halved and much more manageable in 4.5 years.
That is the process currently under way. The trick is to manage the rate to keep it as high as possible but tolerated buy the masses.
Logically why would a sitting President (or anybody) want to sit by and watch the dollar = worthless?
a) he (they) are traitor’s to this country
b) it is the only way to usher in the tin foil hatted of old days but reality, fact in the news today; Global economy/ AKA NWO?
With the UN’s self proclaimed ‘religion’ Gaia and trees getting lawyered up with human rights? Global Warming came realclose to ushering it in until Global Warming was proven a hoax.
c) all of the above
Obama still said US would “buy” like a good customer from
Why not practice what S. Korea does and do all this Brazil
stuff in the US, keeping as much currency at home as possible.
Invest in the US before investing in foreigners.
-——Why not practice what S. Korea does-——
The answer is that millions of Americans make their living selling American stuff and capabilities working outside the country. We make our living traipsing all over doing what we do that the locals can’t do for themselves.
South Korea actually acts globally the same way with contractors and technical types working all over doing what they do.
It is a big, big world and we can do things others can’t but need. That is who we are.
Disagree, maybe you don’t understand my post.
I say invest it at home (USA) first.
Build the rigs in US vs. Korea.
Have you ever tried to sell in Korea?
If you have you find they fight tooth and nail
to use homemade products with the goal of keeping every penny at home. We could do that here (Gulf of Mexico)easily.
And not send dollars out of the country. Lessen the balance
of payments account we are always lectured about.
-——Have you ever tried to sell in Korea?-——
well yes. I had several Korean contractors and companies as customers on projects out of both countries.
We did build the rigs here for many years but can’t now because of being uncompetitive. However, many of the components incorporated are of American origin shipped to Korea for inclusion.
We should be drilling in the Gulf and elsewhere off our coasts but are prohibited. I think that the president is releasing the permits on a slow imperceptible rate because to do so quicker would be political death. The wacko’s must be placated