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Obama expands oil drilling in the Arctic

Schadenfroh

Schadenfroh

Elite Member
http://www.nytimes.com/2011/08/05/us/05shell.html

The Department of the Interior on Thursday granted Royal Dutch Shell conditional approval of its plan to begin drilling exploratory wells in the Arctic Ocean next summer
...
The move confirms a willingness by President Obama to approve expanded domestic oil and gas exploration in response to high gasoline prices and continuing high levels of unemployment. It comes as the issuing of drilling permits in the gulf is quickening, including the granting on Thursday of a permit for a Shell floating drill rig for a 4,000-foot-deep well.
...
The Alaskan Arctic may hold 27 billion barrels of oil, enough to fuel 25 million cars for 35 years. But environmentalists warn that a spill in the Arctic would be more catastrophic than the Gulf of Mexico accident was because the Alaskan waters are dark and inaccessible, and because they are vital breeding grounds for many aquatic species that are endangered or at risk.
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I applaud Obama for defying much of his anti-drilling base and easing restrictions now that the short attention span of the masses no longer recalls the oil spill in the Gulf. After the rage ends, they care only about jobs and the price of gasoline. Every drop of domestic production helps with oil prices and moves us one drop towards being less dependent on foreign sources of energy (along with electric vehicles and other alternatives being researched for the future). This will create several jobs.
 
Next they can open ANWR.


BTW this may be about trying to lower the price of gas before next years election.

Obama is in big trouble election wise and we may start seeing a lot of policy decisions aimed at helping him win in 2012.
 
I wonder how much Royal Dutch Shell is kicking back to Obama. If normal it would be that standard Chicago 5%.

Bobo, the Post Turtle, is going to leave the White House, if he ever does, a very rich man.
 
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umbrella39 said:
Highly, highly, doubt this. Still won't have my vote and he still won't need it.
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Open your eyes...

His approval rating is well below re-election point. 44 right now on the RCP average. (anything below 50 is bad anything below 45 is certain death)

And Romney is already beating him in a head to head poll conducted by a Democrat polling agency.

Another year of bad economic news and Obama will be facing a blow out Carter style or worse.
 
ProfJohn said:
Next they can open ANWR.


BTW this may be about trying to lower the price of gas before next years election.

Obama is in big trouble election wise and we may start seeing a lot of policy decisions aimed at helping him win in 2012.
Click to expand...

If you think exploratory drilling in the arctic now will affect supply in time for the 2012 election, you're delusional.

You're not, of course- you're a propagandist.
 
Good for Obama.

This could be bad news for him though. His hawkish/centrist policies could bring in a more liberal candidate that could "Nader" him. They may only need 5% of the vote in a few states to screw it up.

That is the only way I see him losing 2012. Losing his base to a real Lib.
 
ProfJohn said:
Open your eyes...

His approval rating is well below re-election point. 44 right now on the RCP average. (anything below 50 is bad anything below 45 is certain death)

And Romney is already beating him in a head to head poll conducted by a Democrat polling agency.

Another year of bad economic news and Obama will be facing a blow out Carter style or worse.
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do remember that billy the clinton was elected twice with less than 50% of the total vote: 43% and 49%. Also, Nixon won in 1968 with just 43%.

These polls are nice but it is the one who "wins" 270 Electoral College votes that wins the real prize.
 
a777pilot said:
do remember that billy the clinton was elected twice with less than 50% of the total vote: 43% and 49%. Also, Nixon won in 1968 with just 43%.

These polls are nice but it is the one who "wins" 270 Electoral College votes that wins the real prize.
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Hell, GWB won with less of a percentage of the popular vote than Gore.
 
This is just "exploratory" drilling. Obama and his monkey army at the EPA can pull the plug on this whenever they want. They manufactured excuses to pull the rug out from under legal coal mines. In fact Obama once opened Atlantic to exploratory drilling and then ended it. Dynamic paralysis is Obama's MO. Make it looks like something is happening when it isn't. Until an oil company has a well established and pumping on their leases I'm not impressed with all the "exploratory" stuff.
 
Good, now just get off of companies trying to utilize the largest supply of oil we have - oil shale.
 
a777pilot said:
I wonder how much Royal Dutch Shell is kicking back to Obama. If normal it would be that standard Chicago 5%.

Bobo, the Post Turtle, is going to leave the White House, if he ever does, a very rich man.
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I think he's working with Lex Luthor to drill for a Kryptonian artifact to block out the sun...
 
Jhhnn said:
If you think exploratory drilling in the arctic now will affect supply in time for the 2012 election, you're delusional.

You're not, of course- you're a propagandist.
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It isn't about effecting supply it is about effecting prices.

The more sources that are on the market or are being worked into the market the lower the price.
 
ProfJohn said:
Open your eyes...

His approval rating is well below re-election point. 44 right now on the RCP average. (anything below 50 is bad anything below 45 is certain death)

And Romney is already beating him in a head to head poll conducted by a Democrat polling agency.

Another year of bad economic news and Obama will be facing a blow out Carter style or worse.
Click to expand...

If Romney is the GOP nominee, how many Tea party people will support him? I know a lot of the Tea Party folk really don't like Romney, maybe up to the point of supporting another candidate.

However, i think the real question that will determine his re-election is if people believe they are better on Nov 1st 2012 that they were when Obama got elected.... i think most people will say no to that.
 
sunzt said:
If Romney is the GOP nominee, how many Tea party people will support him? I know a lot of the Tea Party folk really don't like Romney, maybe up to the point of supporting another candidate.

However, i think the real question that will determine his re-election is if people believe they are better on Nov 1st 2012 that they were when Obama got elected.... i think most people will say no to that.
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Well, we were in pretty bad shape when Obama got elected, losing jobs at a rate of 750,000 jobs per month and now we're at least generating a few jobs here and there. I think that things will generally be better on Nov. 1 2012 than they were four years earlier, but it's pretty hard to not have some sort of improvement over where we were back then.
 
ProfJohn said:
It isn't about effecting supply it is about effecting prices.

The more sources that are on the market or are being worked into the market the lower the price.
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Even a 10% increase in full blown drilling today in the US would barely register on global oil prices. If you believe otherwise you probably shouldn't be speaking on the subject.
 
sunzt said:
If Romney is the GOP nominee, how many Tea party people will support him? I know a lot of the Tea Party folk really don't like Romney, maybe up to the point of supporting another candidate.

However, i think the real question that will determine his re-election is if people believe they are better on Nov 1st 2012 that they were when Obama got elected.... i think most people will say no to that.
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It would be close for Obama in his own state of Illinois. A lot of people that voted for him last time have been saying they would not vote for a second term for him.

They also said if the GOP nominee was Palin they would not vote Republican but if Romney, they would vote for him.
 
The price of oil has little to do with supply anymore. The investment banks have seen to that. After they blew out the economy with the home market sector (with the help of the mortgage banks), they moved to steering hundreds of billions of investment money into commodities, including oil. They have created an artificial middleman between the producers and the refiners of oil and this middleman money bids up the price of oil worldwide regardless of supply. They used to "advertise" that the price of homes will only go up forever, now its "the price of oil will go up forever".

More drilling won't have much of an effect till this bubble is done inflating.
 
jackschmittusa said:
The price of oil has little to do with supply anymore. The investment banks have seen to that. After they blew out the economy with the home market sector (with the help of the mortgage banks), they moved to steering hundreds of billions of investment money into commodities, including oil. They have created an artificial middleman between the producers and the refiners of oil and this middleman money bids up the price of oil worldwide regardless of supply. They used to "advertise" that the price of homes will only go up forever, now its "the price of oil will go up forever".

More drilling won't have much of an effect till this bubble is done inflating.
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I used to think this too but it's simply the exchange rate-- they don't sell to the US for $96/barrel when the USD is worth less. Instead, they sell it to someone whose currency is worth more and they can get more than $96/barrel.
 
soccerballtux

I'm sure that the exchange rate has less to do with it than the speculation. The speculation drives the price worldwide even when there is plenty of oil on the market.

I can hardly wait for the day when the Harvard endowment fund, some state employee retirement fund, and a big union pension fund, etc. receive notice to take delivery of the oil they bought because the refineries tanks are full.
 
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