Exxon, U.S. Government Duel Over Huge Oil Find

Wall Street Journal ^ | 8/18/11 | R Gold

[Recovering_Democrat]

Exxon Mobil Corp. is fighting with the U.S. government to keep control of one of its biggest oil discoveries ever, in a showdown where billions of dollars hang in the balance for both sides.

The massive Gulf of Mexico discovery contains an estimated one billion barrels of recoverable oil, the company says. The Interior Department, which regulates offshore drilling, says Exxon's leases have expired and the company hasn't met the requirements for an extension. Exxon has sued to retain the leases.

The court battle is playing out at a time in

[Recovering_Democrat]

On the surface, this is Hussein and his sycophants destroying the private sector.

If you saw the fine film "The Undefeated", you'll also see a parallel between how Sarah dealt with oil companies that refused to develop oil fields, and see that Hussein is an unoriginal boob--copying what REAL leaders do, just not as well.

[Rashputin]

IMHO it's another spin doctor excuse for keeping oil from domestic sources from flowing. Barry is still not happy with gasoline prices and won't be until they ‘re around eight dollars a gallon. Like all the fascist democrats he wants our prices to meet or exceed the prices in Europe and will use any technicality he can dream up to keep oil off the market and refining capacity limited.

[luvbach1]

I agree with your point re Barack Whosinsane Obama.

[GailA]

Exxon has not greased 0 palm with enough of these

[Flavius]

Huh I was promised peak oil

[dennisw]

Exxon should hang in there until Rick Perry gets in. This is so unfair. FUBO! America hater.

[dennisw]

The treacherous Obama regime will sabotage your business until you make campaign donations and other forms of tribute and payments

[grobdriver]

in a showdown where billions of dollars hang in the balance for both sides.

Huh?
Oil companies get control of oil, produce gasoline, make money.
Government gets control of oil, sits on it, no gasoline, nobody makes money.

How is this "dollars hang in the balance for both sides" again??

[Jerrybob]

>Exxon Mobil Corp. is fighting with the U.S. government<

This says it all, doesn't it -- corporations, small businesses, citizens -- all fighting the US government.....

[bert]

When tyrants die, can they still regulate?

[nhwingut]

#2 you are right. People are now becoming sort of complacent with $3.70 at the pump because it’s been there for so long.

It’s the new norm.

[pgyanke]

This says it all, doesn't it -- corporations, small businesses, citizens -- all fighting the US government.....

You forgot the states.

[SMARTY]

I believe that. When Americans lose ALL mobility because they are unable to afford the cost of running their car, taking a plane or doing other fuel dependent things, THIS “President” will be in a much better position to appeal to discontented and angry masses.

Nauseating! It reminds me of Medieval times when the Lord of the manor punished (with death) anyone who took kindling or game from HIS forest!

The Lord exercised complete control over everyone that way.

[GlockThe Vote]

Rot in hell obama you pofs!

[Aevery_Freeman]

...the government's denial of its extension relied on legal interpretations that it "had never before applied and had never before articulated."

Pulled out of environmental lawyers "deep well drilling sites", eh.

[Happy Rain]

Cars will be powered by dilithium crystals before THAT ever happens;)

[Melchior]

Just in the last week the Obama administration has pressed its opposition to frac-ing; Salazar placed a couple of plants on the endangered list in order to halt drilling in the rockies; the Alaska business is more tied up in red tape. California and the Interior Dept begin to consider rules to limit drilling in the Monterrey Shale region of California. And now this bit in the Gulf. In sum, the oil industry is under attack by the Obamas everywhere in the USA.

[1010RD]

High gas prices are a result of too many dollars out there, not oil drilling, although I’m all for drilling as much American oil as possible, coal too and nuclear.

[Texas resident]

baraq is just protecting Petrobras. and Soros.