Jason Barton

Professional Information and Energy News

Archive for the ‘Off shore Drilling’ tag

President Obama’s energy strategy

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Friday, April 2, 2010

President Obama’s plan to expand coastal drilling could upend a decades-old standoff on the topic – and even lead to a wholly new energy outlook. It’s a nervy strategy that’s unsettled nearly everyone with a seat at the bargaining table.

His hopscotch exploration map safeguards stretches of the nation’s coastline including California while allowing oil rigs into other blue-water spots. By itself, it’s a compromise that annoys all sides and pleases no one.

But Obama is looking ahead from this hot-button issue to a bigger one. He wants to trade more drilling rigs for votes from wavering senators on looming energy and climate change legislation. From Florida to Alaska, the drilling maps try to please the nearest senator.

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Both critics and supporters of his drilling plan have underlined the central irony. In order to garner more support for green energy, reduced dependence on fossil fuels and greenhouse gas reductions, the president will allow more drilling. He’s playing a short-term game for a long-term goal.

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The best-guess predictions are that the expanded areas won’t make a major difference in oil supply. This country uses 20 percent of the world’s supply but has only two percent of the resources. Over half the oil this country uses is imported. The U.S. can’t drill enough to get anywhere close to energy self-sufficiency, Obama said.

Read the entire article here.

Written by Jason

April 3rd, 2010 at 10:06 am

Obama to Propose More Oil Drilling in Gulf

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Interesting. After that polarizing healthcare debate, it looks like Obama is trying to mend some bridges with a more pragmatic approach. A more liberal source, however, claims that he’s actually alienating both ends of the spectrum with this effort. We’ll see what happens.

Obama to Propose More Oil Drilling in Gulf

MARCH 30, 2010

By STEPHEN POWER And IAN TALLEY

WASHINGTON—The Obama administration will propose allowing offshore oil and natural-gas exploration and development in a large swath of the eastern Gulf of Mexico, after months of criticism from Republicans who have made expanded offshore drilling a political rallying cry.

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In addition, the administration plans to announce new steps to determine how much oil and natural gas is buried off the coasts of Middle and Southern Atlantic states, where oil-reserve estimates are decades out of date.

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At the same time, Mr. Obama’s plan wouldn’t allow new oil and gas development off the coasts of Northern Atlantic states or California, whose political leaders have long opposed offshore drilling. The administration will call off a plan drafted by the administration of former President George W. Bush that would have given oil companies access to Alaska’s Bristol Bay, an area teeming with wild sockeye salmon and many commercial fishing interests concerned about the impact of drilling on their livelihoods.

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The idea of expanding offshore drilling is taking on increased importance in the broader debate over climate and energy legislation.

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Mr. Obama is unveiling his plan at a delicate time for oil and gas companies. Shut out of resource-rich parts of the world like the Middle East and Russia, many oil majors increasingly view the deep waters off the southern U.S. as a key source of exploration success and production growth. Exploration in the Gulf of Mexico is expensive, compared with other basins, but high production rates and proximity to U.S. markets have made drilling there cost-effective.

Read the entire article here.

Written by Jason

April 1st, 2010 at 10:02 am

Critics Claim Offshore Drilling Plan a Half-Step Toward Energy Independence

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Updated March 31, 2010

President Obama’s decision to open up the nation’s shores to new oil drilling drew complaints from both sides of the aisle Wednesday, as environmentalists and congressional Republicans alike claimed the move would do little for America’s energy independence.

Read the entire article here.

The president, in announcing the plan to allow drilling off the Eastern seaboard and potentially the western coast of Florida, said he anticipated the pushback. Yet, on the heels of a health care reform victory that cleared the way for work on other domestic challenges, the president defended his proposal, saying that “homegrown fuels” are needed to move away from foreign oil and help “transition” to more clean-energy sources.

Written by Jason

March 31st, 2010 at 6:23 pm