Offshore Oil Suffers From Obama Restrictions on New Drilling

Remember $4-5 per gallon gas last summer? Well, if you liked it then, you may be in luck, as gas prices that high will probably be returning withing a couple of months again. Heres some info from a story at Fox News:

“If we don’t increase our own oil production in the U.S., our dependence on foreign oil won’t go down,” said Marathon Oil executive Woody Pace.

The drill ship is the size of a football field. Twelve anchors the size of an average living room hold the rig in place while a synthetic-diamond cutting blade bores deep into sand and rock.

Like other oil explorers, Marathon is being forced farther and farther out into the Gulf to find oil. Deeper water means more expensive oil.

“We may spend anywhere from $100 to $200 million just to find out if we have commercial hydrocarbons,” Marathon Vice President Annell Bay told FOX News.


No TweetBacks yet. (Be the first to Tweet this post)

Related posts:

  1. How the democrats are planning on paying for socialized healthcare: a national sales tax, taxing soda and a “surtax” on people making over $250,000. By the end of this week, House Democrats may have...
  2. Obama likes offshore drilling off Brazil why? Because George Soros just repositioned himself in Petrobras for dividends As Michelle Malkin mentioned in here blog entry, as well...
  3. Interior Secretary Ken Salazar pays surprise visit to Central California farmers Remember that Hannity special a couple weeks ago exposing the...
  4. North Dakota Democrat Senator Byron Dorgan announces retirement! Big news here. Another Democrat retires before the 2010 elections....
  5. Conservative blogger Jim Treacher aka Sean Medlock gets hit State Department employee’s SUV – suffers broken knee Conservative blogger for the Daily Caller who goes by the...

Related posts brought to you by Yet Another Related Posts Plugin.

May 22, 2009 · Filed Under General Politics

Share/Bookmark

Comments

Lets hear your point of view! - A warning to the liberal whiners who seem intent to flood our comment section with profanity. Save your keystrokes. The anti spamming script will just automatically delete your comment. Feel free to disagree with the host on any article posted here, but flame baits, racism, and profanity laced tirades will NOT be tolerated, and will eventually get your IP address banned!




www.e-referrer.com