U.S. Oil Production Increases In Spite of Team Obama’s Best Efforts
Free market to the Alinskyites: "I drink your milkshake!"
March 24, 2012 - 11:03 pm
As chairman of the House Committee on Natural Resourses, Doc Hastings noted this permatorium, as did Al Reese, CFO of ATP Oil & Gas:
Hastings cited data showing in the six months before the Macondo/Deepwater Horizon disaster, the Interior Department issued an average of 72 permits per month, compared to 52 per month over the past six months.
Al Reese, chief financial officer of ATP Oil & Gas, an independent that operates in the Gulf of Mexico, testified at the hearing that permit applications have become drastically more complicated since the spill, expanding from 30 or 40 pages to 3,600 pages for ATP’s most recent permit application. That increased complexity seems directly tied to the longer approval times, Reese said.
Christopher Prandoni notes, “Revenue from offshore lease sales dropped from $9.5 billion in 2008 to $36 million in 2011.”
Not to be left out, the EPA under Lisa Jackson withheld “critical air permits” from Shell Oil Company, forcing them to abandon their oil drilling plans in Alaska:
The closest village to where Shell proposed to drill is Kaktovik, Alaska. It is one of the most remote places in the United States. According to the latest census, the population is 245 and nearly all of the residents are Alaska natives. The village, which is 1 square mile, sits right along the shores of the Beaufort Sea, 70 miles away from the proposed off-shore drill site.
The EPA’s appeals board ruled that Shell had not taken into consideration emissions from an ice-breaking vessel when calculating overall greenhouse gas emissions from the project. Environmental groups were thrilled by the ruling.
The decision cost Shell five years and almost $4 billion. It’s estimated there are 27 billion barrels of oil in America’s piece of the Arctic Ocean.