Obama to Expand Off-Shore Drilling

[guido911]

I do give credit when its due:

The Obama administration is expected to announce by Wednesday its updated plan for oil and natural gas drilling in U.S. waters, including whether to allow exploration for the first time along the U.S. East Coast.
The plan could pave the way for a significant new domestic source of energy, helping to reduce U.S. dependence on oil imports and boost supplies of natural gas used to displace coal in power plants as the country works to reduce emissions of climate-changing greenhouse gases

http://www.reuters.com/article/idUSTRE62T06520100330

Props to Obama on this decision.

[heironymouspasparagus]

Hey, here's a thought... how about drilling in places where they know oil is and have the leases and permits, etc, and are ignoring - to the tune of about 3/4 of the acreage that is available.  i.e. they are only currently using about 1/4 of the available resource.

And the rig count has been rising again, since the price of oil has doubled.


Or better yet.  Let's plant the heck out of marijuana and just get away from oil/gas completely.  And have higher quality paper without cutting down trees (preserving the environment, reducing co2, etc).  Not to mention the essential oil face creams...

[Gaspar]

This is fantastic.  Credit to the President for turning away from an unsustainable energy policy. 

They showed a map this morning.  It's basically the old 2007 Bush offshore proposal with some restrictions to western FL and Bristol Bay, AK. 

The North Alaskan coast will be opened in the Chukchi and Beaufort fields.  This announcement alone will put significant pressure on the Arab nations to drop prices.  US industry will get a jolt.

Looks like The President is going to create some jobs.  WELL DONE!

[Gaspar]

SORRY BOYS!

[we vs us]

Whatever else, let's hope this is the end of "Drill, baby, drill."

[Gaspar]

Whatever else, let's hope this is the end of "Drill, baby, drill."

Let's hope it's the beginning of an energy independence policy.  This is good news for everyone.

[Hoss]

Let's hope it's the beginning of an energy independence policy.  This is good news for everyone.

Maybe so, but Boehner the Boner is already denouncing it; what a surprise.

http://thehill.com/blogs/e2-wire/677-e2-wire/89999-boehner-rebukes-obama-offshore-drilling-plan

[Conan71]

"Obama's decision "continues to defy the will of the American people," Boehner said in a statement, pointing to the president's decision to open Atlantic and Gulf of Mexico waters, while leaving Pacific and many Alaskan waters largely closed to exploration."

Boehner, shut the F&$k up already...

What a partisan moron, how about accepting this is a start and going from there?

Oh, and yes, kudos to President Obama for this.

[nathanm]

This is fantastic.  Credit to the President for turning away from an unsustainable energy policy. 

I'm glad that he's not afraid to look for solutions typically associated with either side of the aisle. I still think that it's just as pointless as when Bush proposed it, though. The size of the reserves isn't really important, what's important to reducing our dependence on oil imports is how many barrels per day we can pump.

I'm of the opinion we ought to leave currently unexploited fields unexploited. You know, save them for later when we need the oil to make plastic because we're running existing field dry from all the use in transportation. We can use all sorts of things to propel cars, while the number of things we can use to make plastic is limited to: old plastic (poorly), oil, and synthetic oil.

[fotd]

You guys aren't really going to fall for this Obama move to prove he's not a liberal are you?

[Conan71]

I'm glad that he's not afraid to look for solutions typically associated with either side of the aisle. I still think that it's just as pointless as when Bush proposed it, though. The size of the reserves isn't really important, what's important to reducing our dependence on oil imports is how many barrels per day we can pump.

I'm of the opinion we ought to leave currently unexploited fields unexploited. You know, save them for later when we need the oil to make plastic because we're running existing field dry from all the use in transportation. We can use all sorts of things to propel cars, while the number of things we can use to make plastic is limited to: old plastic (poorly), oil, and synthetic oil.

Demonstrated reserves works as a nice hedge against the threat of higher energy costs by other nations, especially if they are tapped and all you have to do is open "the valve".

[Gaspar]

Boehner = fool

Another example of why they all need to be flushed in the next election. 

Contrarians just to be contrary.

. . . and FOTD, President Obama is no less liberal by this act, he is simply acknowledging reality for the first time in his campaign presidency.

[nathanm]

Demonstrated reserves works as a nice hedge against the threat of higher energy costs by other nations, especially if they are tapped and all you have to do is open "the valve".

Not if you haven't proven you can pump the fields fast enough to keep up with demand.

FWIW, I think it's an unmitigated good if we map the fields and possibly even drill a test well or two. It's a good idea to know exactly what we've got. I just don't think we should be pumping like mad from a resource we're going to wish we had when the oil really does start running low.

[Conan71]

Not if you haven't proven you can pump the fields fast enough to keep up with demand.

FWIW, I think it's an unmitigated good if we map the fields and possibly even drill a test well or two. It's a good idea to know exactly what we've got. I just don't think we should be pumping like mad from a resource we're going to wish we had when the oil really does start running low.

Nathan, sometimes I think you argue with me for the sake of arguing. 

I never said we should be pumping like mad.  It takes time to develop oil fields.  In order for an oil field to be a hedge to help with demand and price fluctuations, you have to be able to have access to the oil, not sitting on top of a resource which cannot be tapped for five or ten years because there's no equipment in place to drill for or recover it.

Capiche? 

[Cats Cats Cats]

"The plan could pave the way for a significant new domestic source of energy, helping to reduce U.S. dependence on oil imports and boost supplies of natural gas used to displace coal in power plants as the country works to reduce emissions of climate-changing greenhouse gases"

Too bad we don't get the oil