Monday, June 28, 2010

Oil Company Executives Leave Meeting With Salazar Disappointed: BP (NYSE:BP), Exxon (NYSE:XOM), Transocean (NYSE:RIG), Chevron (NYSE:CVX),

Executives from several oil and gas companies including BP (NYSE:BP), Exxon Mobil (NYSE:XOM), Transocean (NYSE:RIG), Chevron (NYSE:CVX), Noble Energy, Hercules Offshore Inc., Rowan Cos. Inc. (NYSE:RDC), Diamond Offshore Drilling, and Seahawk Drilling, attended an hour long meeting with Ken Salazar, U.S. Interior Secretary today. Also present were the heads of the trade groups for the industry.

The purpose of this meeting was to lift the moratorium imposed by President Obama. Everybody left disappointed as Salazar refused to make any promises that the government would lift the Deep water drilling ban. Kendra Barkoff, Interior spokeswoman confirmed the meeting took place but refused to comment on the contents of the meeting itself.

"Numerous operators told Secretary Salazar that they were in the final stages of moving rigs, deepwater rigs out of the Gulf of Mexico and to West Africa or the Middle East. We were frankly disappointed at the lack of serious attention that was paid by the department of the Interior on the horrible economic impact that the Department of Interior's policies are having on the industry and on communities along the Gulf Coast, " said a source close to the matter.

In letters to the executives of these oil and gas companies, House Democrats questioned if their oil response plans "were adequate to protect the Gulf region from the consequences of a sub sea blowout similar to the blowout" that BP experienced at the Macondo well.

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