It should be obvious to all but the cretins in the Democrat party that the poseur in the White House is destroying the energy base in our country. The Gulf is locked down because it takes so long to get drilling permits through the dolt Salazar’s, department. Keystone pipeline is stopped for “environmental safety” concerns when the entire affected region has been criss-crossed with hundreds of pipelines for decades.
The First Marxist President is working hard at destroying this economy, and he is succeeding.
I should have added expected production rates are impacted as well from wells that were budgeted and should have been drilled were not.
For more information see:
The State of the Offshore U.S. Oil and Gas Industry
An in-depth study of the outlook of the industry investment flows offshore
http://api.org/policy/exploration/upload/Quest_2011_December_29_Final.pdf
Prepared for:
American Petroleum Institute (API)
December 2011