Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Gulf Deepwater Drilling Banís Hidden Victims
Investors' Business Daily ^ | 2-1-12

Posted on 02/01/2012 6:42:14 AM PST by afraidfortherepublic

Energy: Small- and medium-size businesses serving Louisiana's energy industry are shedding employees, dipping into personal savings or moving elsewhere to stay afloat. The administration's war on fossil fuels is taking its toll.

The federal six-month moratorium on drilling that was issued in May 2010, after the explosion of the Deepwater Horizon oil rig, has been officially lifted, but it might as well still be in effect.

The glacial permitting process put in place in the aftermath in the name of public safety is killing an industry pledged to wean us from the "energy of the past" will not mourn.

A study released Monday by economic development agency Greater New Orleans Inc., or GNO, details the dire results to the federal deepwater drilling moratorium and its regulatory aftermath. While on the surface things appear to be going well, the supporting small and medium business infrastructure is struggling to survive.

The study says that despite the relatively limited employment losses reflected in public employment data, businesses are indeed laying off workers, reducing hours and salaries and limiting new hires as a result of the permit slowdown and insecurity about the future of the Gulf of Mexico."

"You don't see how badly they are hurting because they are still operating," said Lizette Terral, New Orleans region of JPMorgan Chase Inc., a GNO board member. To do that, many have laid off workers, reduced hiring to replacements only and dipped into personal savings to the point of exhausting them.

About 100 business owners or company executives from fields associated with the oil and gas industry responded to the GNO Inc. survey.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events
KEYWORDS: bhoeconomy; bhofascism; crushfedgov; democrats; drillheredrillnow; economy; elections; energy; envirofascism; govtabuse; liberalfascism; liberals; nobama2012; obama; oil; permits; study; tyranny; unemployment

1 posted on 02/01/2012 6:42:15 AM PST by afraidfortherepublic
[ Post Reply | Private Reply | View Replies]

To: afraidfortherepublic
IBD needs to get some actual writers. This piece is so flowery that it is hard to follow.

Would someone please diagram this "sentence" for me?

The glacial permitting process put in place in the aftermath in the name of public safety is killing an industry pledged to wean us from the "energy of the past" will not mourn.

2 posted on 02/01/2012 6:49:29 AM PST by the_Watchman
[ Post Reply | Private Reply | To 1 | View Replies]

To: afraidfortherepublic
The glacial permitting process put in place in the aftermath in the name of public safety is killing an industry pledged to wean us from the "energy of the past" will not mourn.

It is processes like this that Obozo exploits to advance his agenda. The EPA has cost US citizens billions in foregone opportunities and higher energy costs, plus hundreds of thousands of jobs. While he may not be getting everything he wants through the real legislative process, he's killing this country through the back door via regulation.

3 posted on 02/01/2012 6:51:31 AM PST by econjack
[ Post Reply | Private Reply | To 1 | View Replies]

To: afraidfortherepublic
A thousand standard cubic feet of natural gas (MSCF) contains 1,100,000,000 Joules of energy. A barrel of crude oil (42 gallons) contains 6,100,000,000 Joules. So 1 BO has roughly the energy content of 5.55 mcfg.

The price of oil is roughly $100/BBL or $16.39 per gigajoule. The price of natural gas is $2.5/mcf or $2.27 per gigajoule. So oil costs 7+ times as much for the same energy value as natural gas.

Thanks to shale gas technology, the US has vast reserves of recoverable natural gas. The gas produced in the US provides high paying domestic jobs, severance tax revenues to local and Federal governments, and royalties to landowners. Natural gas is the cleanest fossil fuel; burning methane yields only CO2 and H2O as waste products, and the CO2/GJ 'footprint' is much lower than that of more complex organic chains. Every 6 mcf's of domestic gas replaces 1 BO imported from a foreign country.

So why is our Federal government not encouraging the development and use of this domestic, job-creating, clean resource?

A rhetorical question, really. I don't expect an answer.

4 posted on 02/01/2012 7:16:29 AM PST by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: afraidfortherepublic

Of course. He lifted the ban, but told his stooges at the EPA and the Energy Department not to issue any permits.

Just about the only permits I’ve read about were issued to—wait for it—BP. Because they may have the worst safety record out there, and they may have caused the BP oil spill, but they gave Obama a $10 billion slush fund—which has gone to his cronies, not the Gulf oil workers.


5 posted on 02/01/2012 8:37:44 AM PST by Cicero (Marcus Tullius)
[ Post Reply | Private Reply | To 1 | View Replies]

To: the_Watchman

Can’t be done, there is not way to understand it. This is very much like Palin’s remark last night:

“As it stands obviously it’s Romney and Newt are closest to be the front-running candidate, and so I would continue to vote for whoever it is to allow the process, and at this point it looks like it still is Newt. You have to kind of continue to level the playing field with your vote.”


6 posted on 02/01/2012 9:02:27 AM PST by Sequoyah101 (Half the people are below average.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: the_Watchman
Would someone please diagram this "sentence" for me?

Can't help ya pal. I got dizzy and fell out of my chair when I tried to read it.

7 posted on 02/01/2012 2:11:50 PM PST by houeto (Mitt Romney - A Whiter Shade of FAIL © - tomkat)
[ Post Reply | Private Reply | To 2 | View Replies]

To: the_Watchman
I think one phrase was hastily deleted. Try it now...

The glacial permitting process put in place in the aftermath in the name of public safety is killing an industry that an administration pledged to wean us from the "energy of the past" will not mourn.

Of course, that's just my guess and it is still a run-on sentence that could use a few commas, but that's what I think the author meant to say.

8 posted on 02/01/2012 2:21:12 PM PST by OrangeHoof (Obama: The Dr. Kevorkian of the American economy.)
[ Post Reply | Private Reply | To 2 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson