ExxonMobil Sues Obama Administration for Canceling Deepwater Well Worth ‘Billions of Barrels

Cybercast News Service ^ | 8/26/11 | Matt Cover

[Nachum]

ExxonMobil, the world’s 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 government’s action “deprives ExxonMobil of property without due process of law.” ExxonMobil lawsuit

[Waco]

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.

[SpaceBar]

A “pass the popcorn” moment. Exxon can afford the best legal representation money can buy.

[alrea]

Sue this administration

Democrats can not maintain competitiveness without insuring that large chucks of the economy are redistributed to trial lawyers.

[Nachum]

http://www.youtube.com/watch?v=c9Kq2W9aWq4

[kidd]

Freepers: Good. Great. etc

Does anyone here believe that it will be Obama who pays for this....or might it come from the taxpayers?

[indthkr]

Socialist Nationalization bump for later......

[ken21]

finally.

[gotribe]

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.

[no-s]

started right up but the blow-by was so bad you couldn’t keep the dip stick in

What? Couldn't be fixed with new rings?

[philman_36]

“Accordingly, by enabling Interior to grant new leases on blocks with proven reserves, cancelation of the Original Julia Leases would give Interior the opportunity to collect millions of dollars in bonuses and royalties that it otherwise would not be entitled to collect if the Original Julia Leases are not canceled.”

Interior Dept Gives Approval to Brazilian Oil Company’s 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.

[philman_36]

At issue is an ExxonMobil project in a part of the Gulf of Mexico known as the Julia Field...

Obama Shocks Oil Industry by Cancelling Exxon Mobil and Statoil Leases

[Issaquahking]

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!

[Publius6961]

Arbitrary and capricious, if demonstrated, is a slam dunk claim, Arbitrary and capricious ia the antithesis of the rule of law, the Constitution and the Bill of Rights.

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.

[G Larry]

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.