Skip to comments.ExxonMobil Sues Obama Administration for Canceling Deepwater Well Worth ‘Billions of Barrels
Posted on 08/26/2011 4:27:49 PM PDT by Nachum
ExxonMobil, the worlds largest energy company, filed a lawsuit against the federal government for canceling an oil-drilling lease in the Gulf of Mexico that held billions of barrels of oil, according to the company. In the suit, filed Aug. 12 in federal court in Louisiana against Interior Department Secretary Ken Salazar and related parties, Exxon alleges that the Interior Department made an arbitrary, capricious decision in canceling the deepwater leases, arguing that the governments action deprives ExxonMobil of property without due process of law. ExxonMobil lawsuit
(Excerpt) Read more at cnsnews.com ...
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Good, turnabout is fair play.
Don’t mess with someone who buys and sells oil by the millions of barrels.
0bama, get your boot off of the neck of the American economy!
I am loving this!!!
I don’t want to see anyone jumping on our guy, the Big Oh, on this one. After all, Project Skyrocket, that program designed to send energy prices through the roof, is falling behind schedule. This is easily seen by noting the fact that Chevy Volt sales are tanking while Americans continue to buy SUVs and those gas guzzling F-100s that they really don’t need.
I mean isn’t it obvious that dramatic action had to be taken to get energy prices heading in the right direction again?
Industry senses weakness in the won, starts defending themselves finally.
Some guilt to be found on both sides.
On the one hand, a company sat on a lease without doing anything with it and did not get the request for an extension on time. On the other hand, an administration that wants billions to spend for leasing it to China or some other country where we will not see anything from it.
Hang in there Exxon you'll be back in business in January of 2013.
... a company sat on a lease without doing anything with it other than spending nearly $300,000,000.00 drilling two wells ....
Years ago, 1. Exxon bids millions to explore for oil on this tract. 2. Wins the lease bid and starts exploration. 3. Years later, and with better technology, and multi millions invested, determines that this lease property is very viable, and applys for a lease extension. 4. BP has a problem and the government closes down Gulf oil exploration.
Now 5. Zer0’s anti oil administration wants to shut down Exxon’s claim??
It really seems to me that Exxon-Mobil should register to incorporate in Figi, where-ever, and stick a huge middle finger to the communist complex at the Washington Mall, thus derpiving it of billions in lease-tax revenue.
I had a 78 f-100. 300 cid straight 6, 3 on the tree. Great
truck. Got almost 400k miles out of it. When i sold it, it
still ran, started right up but the blow-by was so bad you
couldn’t keep the dip stick in.
Oh by the way, Exxon will
get about as far with this as congress will get on fast
and furious. Nowhere.
This is great!
Add this to Perry suing for $350 Million for housing illegals in prison.
Sue this administration into oblivion!
China, N. Korea, Cuba, Iran, come on and drill, make a lot of money. When will we get it thru our heads, the USA don’t need stenkin no oil, the USA don’t need no stenkin revenue. Wake up, turd buckets.
A “pass the popcorn” moment. Exxon can afford the best legal representation money can buy.
Democrats can not maintain competitiveness without insuring that large chucks of the economy are redistributed to trial lawyers.
Freepers: Good. Great. etc
Does anyone here believe that it will be Obama who pays for this....or might it come from the taxpayers?
Socialist Nationalization bump for later......
I’m ashamed at how our politicians treat US oil companies. We have the top minds in the worldwide petroleum business - true, cutting edge, technological leaders akin to the top minds in Silicon Valley. Every country and foreign oil company taps our knowledge and people for help. And yet politicians treat our oil companies like crap. God help us if the companies in Houston ever decide to leave the US.
What? Couldn't be fixed with new rings?
Interior Dept Gives Approval to Brazilian Oil Companys Gulf of Mexico Deep Water Facility #15
The facility will be used when the company begins oil and natural gas production at its Chinook-Cascade project in the near future, the department said. Petrobras is based in Brazil.
#55 exclusive economic zone
More specifically, the EEZ includes waters three to 200 miles (five to 322 kilometers) offshore (or nine to 200 miles 14.5 to 322 kilometers offshore in western Florida and Texas).
Seems pretty "in your face" by Interior to me. Besides, who's going to stand up and bring this to court like ExxonMobil did? The People?
They have no standing.
At issue is an ExxonMobil project in a part of the Gulf of Mexico known as the Julia Field...
Good news - Exxon had a a wake up call! Take this POS white house administration and take them to the woodshed! Except this time I support whaling the problem into oblivion...and then some! Crush this administration Exxon - do the job the president refuses to do!!! Put energy on the front line of the economy!
Say what you will, but Exxon is the best victim of government over-reaching; it has the means to launch the best offense. The government, on the other hand (the Obama Justice Department?) can no longer act as if the taxpayer has an unlimited checkbook, presumably the present Congress will now allow it, even if it means de-funding the Rogue Justice Department.
Imagine if the government decided tomorrow to cancel the contract with tens of millions of working Americans who upheld their side of the Social Security Contract. Let's not fool ourselves, the criminal executive Department would not hesitate to do exactly that if the current progressives in charge felt cornered.
If the Feds are allowed to break contracts at the whim of either ignorant or malevolent (the results are the same,) elected or appointed dictators, the American taxpayer doesn't stand a chance in hell, since he would be funding his oppressors without pity or recourse of any kind.
So yes, I am rooting for Exxon any way I can!
Fortunately, there have already been recent signals, Federal Court decisions, that have established that we elect presidents, not arbitrary monarchs, and that the checks and balances of the republic are still alive and well.
That mere men would place ego over the welfare of an entire country by preventing use of resources which are the legacy of all the people they feign to represent, is mind-boggling.
I am totally looking forward to the argument that this dysfunctional set of mini-tyrants will conjure up to try to justify something so clearly arbitrary and capricious.
Are you saying you’d rather see this administration’s unconstitutional regulations, restrictions, and confiscations, go unchallenged, than reward “trial lawyers”?
These are NOT ambulance chasers that get 30% of some dreamt up award.
These lawyers get regulations overturned and ACTUAL DAMAGES paid.
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