The Interior Department's announcement that it is safe to do underwater seismic testing to look for oil as well as gas off the Atlantic coast is rekindling the fight over offshore oil drilling on the Eastern seaboard. This attractive much puts us back to where we were in March 2010, when President Barack Obama decided to open up vast tracts of the Atlantic Ocean to oil drilling. Three weeks later BPs Deep Horizon oil rig exploded, efficiently quashing the debate for the next few years.
Not surprisingly but a great idea of oil lobby seismic testing. The Atlantic is a "potential gold mine" of oil also gas reserves, as per report issued in December by the American Petroleum Institute. We have almost no idea what is down there. The most recent estimates are more than around 30 years old. As data there is suggests the Atlantic seabed stretching from Delaware to Cape Canaveral might hold barrels of oil only about 3.3 billion i.e. approximately about as much crude as the US consumes in a six months.
Conservationists hatred the idea of drilling for oil on the East Coast, let alone the seismic testing which has to precede it. Boats must drag an array of air guns which bounce sound waves off the ocean floor to see what is underneath it. While that may seem benign marine biologists warn that it will turn the Atlantic Coast into an underwater ‘blast zone' which will injure thousands of whales, dolphins and other marine mammals which use sonar to migrate, communicate and hunt for food.
The timing of the conclusion is definitely fascinating. It arrives as the discussion as to no matter if the U.S. should export its new-discovered oil bonanza is starting up to heat up. Then there's the extensive-simmering dispute above the Keystone XL pipeline. Even though it's a tad cynical to forged this as part of some grand political calculation by the administration-moving forward on East Coastline offshore oil drilling as a trade-off for dithering over Keystone it's hard to speak about a person with no the other.
Despite overseeing the largest boost in oil generation in U.S. record throughout the earlier five years, President Obama is nonetheless seen as anti-drilling in a great deal of conservative circles-basically for the reason that the oil foyer retains expressing so. But portray this administration as anti-oil is getting more challenging. The determination to shift forward on offshore drilling in the Atlantic coupled with the Obama's reluctance to at minimum so far scrap the Keystone challenge, are creating him for extra enemies on the left than on the correct.
Obama's Anti-Drilling Policies Stifle Job Recovery:
President Obama is clearly an anti energy activist. He has cited the Environmental Protection Agency under the authority of Lisa Jackson, a regulatory zealot also he is doing everything in his power to destroy America's energy industry.
One of Obama's anti energy tactics is to block or elongate the time it takes to get approval for an oil lease in the Gulf of Mexico. Oil is the life-blood of the American economy that is why Obama has targeted it. Back in July the House Oversight Committee a report on Obama's effective destruction of oil drilling jobs.
House Committee - Chairman Darrell Issa (R-CA) observed:
The Obama's Administration has systematically blocked domestic energy production in the Gulf of Mexico also report puts that action in stark terms. It documents a 250% increase in the deepwater exploration permit backlog with a decrease of nearly 80 % for plan approvals and deepwater drilling. That means a loss of $9 billion dollars in capital investment along with a projected loss to the government of $25 billion in royalties as well as tax payments over the next three years to say nothing of the tens of thousands of jobs lost.
Our domestic-energy resources are at the largest in the world. Tapping these resources will create more than 5,00,000 jobs in the next three years, grow the economy and put us on the path to recovery.
It looked at the plan and permit levels in the 6 months following the lifting of the deepwater activity moratorium. The testing found:
On each and every energy front President Obama regime is waging a relentless war against the companies which provide gas, coal and oil for our economy. The EPA is the tip of the spear in this war against energy also the free enterprise system. It has to be blocked.