Monday, September 7, 2009

Everyone Drilling Oil but U.S.?

Oil Exploration and Drilling

It's extraordinary that countries around the world are drilling and pursuing oil, with the exception of off the coasts of America and within its borders as well, where billion's of barrels are sitting there because of the far left environmental activists pressuring Democrats, who refuse to ignore them and open up our land and coasts to the billions of barrels of oil already known to be available to us, along with the potentially huge, unknown reserves there for the taking.

I'm not saying American Oil Companies aren't drilling, just that they're not drilling off the coasts of the U.S., which would be very lucrative and helpful to the American economy and American people.

Bizarrely, the Obama administration continues to resist drilling off the shores of the U.S. while oil companies from other nations cash in, like BP from the UK did recently in the Gulf, where they found billions of barrels of oil recently, although it'll take time to know how much it is overall. They are also going to drill a second place in attempts to tap into even more reserves, while the U.S. oil policy is in shambles because of political special interests.

Even though Congress repealed the restrictions on 85 percent of American waters, the Department of Interior under the Obama administration hasn't issued one lease to an oil company for drilling and exploration.

Foolishly, the result will be continued dependence on foreign oil and whims, while we sit on potential resources that could help ween us from this foreign oil dependence in a big way.

Interestingly, the discovery of the Tiber oil by BP in the gulf recently has led some to believe it is a big piece of evidence that strengthens the abiotic theory of oil's origins.

The abiotic theory of oil asserts that any type of hydrocarbon, which includes gas and oil, is the result of natural chemical processes deep in the earth which rise through the fissures of the planet and is usually deposited in sedimentary layers beneath the surface.

What is hypocritical in all this is under the Obama administration, the U.S.Export-Import bank loaned $2 billion to Brazil's Petrobras for furthering their offshore drilling efforts. This gives support to billionaire George Soros, an avid Obama supporter, who owns a stake in Petrobras, which is a state-owned oil and gas company.

Oil Exploration and Drilling

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