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Originally Posted by Allen K. Littlefield
Still waiting for an answer to this question? Anybuddy?
Now how about your take on the role of govt. with a hostile policy on energy production? Do you think that may have an influence on the price? Oil prices soared after NObama delcared there would be no drilling ANYWHERE ( but then lends tax money to Brazil to drill and develop oil). I really would like your take on a president who says he will bankrupt coal companies....where in the constitution does he get that power?
AKL  |
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ugh. i'll bite. what was the question?
"hostile policy on energy production" - then why did president bush (w) - republican, wait until nearly the end of his presidency to lift the moratorium on drilling, that was put in place by his father - also a republican? why did obama not put it back in place? why has the US increased oil production for the past two years (again from 7m bb/d to over 9m bb/d)?
obama's energy policy is:
- increase domestic oil production
- boost output of biofuels to augment non-renewable sources of energy
- encourage natural gas in transportation fleets
- increase fuel efficiency
those are "hostile"? sure there was a moratorium on off-shore drilling, but you don't think a republican president would do the same thing after the deepwater horizon disaster? of course. it was put in place to create new safeguards that would hopefully help protect against another spill. the number of new wells dug under president obama is the same as under president bush during the same term in office - 1,738 rigs (the highest since dec 19, 2008).
from the department of the interior's site:
To date, 51 new shallow water well permits have been issued since the implementation of new safety and environmental standards on June 8, 2010. Permits have averaged 6 per month since October 2010, compared to an average of 8 per month in 2009. Just 7 of these permits are currently pending; with 4 having been returned to the operator for more information.
that's 51! new "drill, baby, drill" permits have been granted. 25 permits for deep water drills.
the money you say president obama is lending to brazil
after announcing no new offshore drilling is false - the money was a credit facility made available in 2009 by the export-import bank of the US. the board members were appointed by president bush and made the decision, not president obama. furthermore, the money was made available so the oil company could purchase US-made products only.
from the EX-IM Bank's Website:
So far, Ex-Im Bank has approved one portion of the $2 billon offer, a request from JP Morgan Chase, acting as lender, for a medium-term credit guarantee facility in the amount of $300 million. This facility will be used to finance the company's general purchases of U.S. manufactured oil and gas equipment and services. To date, there has been no request for a long-term final commitment under the facility.
and finally, you said that president obama said he "would bankrupt coal companies." this is also false. he did not say that. what he said (as candidate obama) was that he wanted to implement a cap-and-trade system where each energy producer was given a certain allowance of pollution that could be emitted. if they did not emit that much pollution, they could sell their left over "credits" to another company that produced more pollution than would be allowed under law. (by the way, this is what texas does, and the company i worked for made millions selling their left-over "credits"). he said that if a coal company wanted to belch out tons of pollution, they could, but it would bankrupt them. they would need to clean up their act...
candidate obama's quote:
"So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them because they're going to be charged a huge sum for all that greenhouse gas that's being emitted."