The United States is too reliant on foreign oil and should expand domestic drilling, Sen. Lisa Murkowski, R-Alaska, said in the party's weekly address Saturday.
The average price for a gallon of regular gas in the country has risen by 40 cents to $3.50 in the past month, and Murkowski, the lead Republican member of the Senate Energy and Natural Resources Committee, said President Barack Obama's Democrats needed to take action.
"If energy prices keep climbing, our nation could slip back into recession just as we're finally emerging from the last one," Murkowski said.
She called for a loosening of a moratorium on deep-water drilling Obama imposed after last year's Gulf of Mexico oil spill.
"America now imports 11 million barrels of oil every day," she said. "Last year alone, we spent more than $330 billion on foreign oil, much of it in countries that are not our friends.
"Republicans know that it's past time to produce more of America's oil."
Source
Showing posts with label Oil Drilling. Show all posts
Showing posts with label Oil Drilling. Show all posts
Saturday, March 12, 2011
Friday, September 3, 2010
Britain to Talk with Transocean (NYSE:RIG), BP (NYSE:BP) Over North Sea Safety
After some intense talks between oil companies and the U.S. government over the BP (NYSE:BP) oil spill, ministers of Parliament in Britain have asked Paul King, the head of North Sea operations for Transocean (NYSE:RIG), to answer questions concerning the safety of drilling in deep waters off the coast of the UK.
Also participating in the testimonies will be executives from BP (NYSE:BP).
Drilling continues close to the Shetland islands of Britain, generating concerns over the consequences if an accident were to happen in those waters.
Talks will begin next week over the issue.
Also participating in the testimonies will be executives from BP (NYSE:BP).
Drilling continues close to the Shetland islands of Britain, generating concerns over the consequences if an accident were to happen in those waters.
Talks will begin next week over the issue.
Tuesday, July 20, 2010
Salazar Says No To Lifting Oil Drilling Moratorium: BP (NYSE:BP)
Ken Salazar announced the new moratorium, caused by BP (NYSE:BP) massive oil spill. He said, "So long as the spill is out there and has not been contained and the oil spill response capabilities are all being consumed by the current spill, it's too risky" to lift the moratorium. The revised version identifies at risk wells based on technologies and oil drilling configurations rather than the depth of water. The prior moratoriums focus was banning oil drilling below 500 feet.
Bobby Jindal, Louisiana's Governor said, "This second suspension of deepwater drilling is a clear sign that the administration is unwilling to follow the advice of their own scientist. The ultimate effect of this second moratorium is the same as the first. To shut down drilling operations in the Gulf and risk killing an estimated 20,000 jobs in Louisiana."
The new ban suspends drilling of 21 oil rigs in the Gulf, that's only 12 less than what the original moratorium would have affected. Several oil companies have said they'll go to other countries due to the ban on drilling. One of which is the largest U.S. deepwater oil driller, Diamond Offshore Drilling Inc.
Bobby Jindal, Louisiana's Governor said, "This second suspension of deepwater drilling is a clear sign that the administration is unwilling to follow the advice of their own scientist. The ultimate effect of this second moratorium is the same as the first. To shut down drilling operations in the Gulf and risk killing an estimated 20,000 jobs in Louisiana."
The new ban suspends drilling of 21 oil rigs in the Gulf, that's only 12 less than what the original moratorium would have affected. Several oil companies have said they'll go to other countries due to the ban on drilling. One of which is the largest U.S. deepwater oil driller, Diamond Offshore Drilling Inc.
Tuesday, July 13, 2010
New Drilling Ban Issued By U.S. Government, Stemmed From BP (NYSE:BP)
After much criticism, the U.S. Government has issued a new revised moratorium which stemmed from BP's (NYSE:BP) disastrous oil spill. It was said Obama's administration would have to do this after a U.S. appeals court ruled against it, saying there wasn't legal basis to shut down all oil drilling. Especially when so many livelihoods depend upon it.
This new improved moratorium is geared more towards the people and business that have been effected. The priority being to protect the thousands of jobs in the Gulf region, while at the same time looking to make the oil industry safer. Ken Salazar, Interior Secretary, is to issue and put into effect the revised, more flexible moratorium at 4 pm EDT.
A government source said that under the new ban deepwater production will be allowed to continue, only some deepwater drilling will be banned. If new safety and environmental rules are meet than shallow drilling will be allowed to continue. If Salazar finds that deepwater drilling can be resumed safely, the freeze could end before November 30th, continued the source.
According to spokesman Robert Gibbs, the White House feels strongly that the revised moratorium will stand up in court.
This new improved moratorium is geared more towards the people and business that have been effected. The priority being to protect the thousands of jobs in the Gulf region, while at the same time looking to make the oil industry safer. Ken Salazar, Interior Secretary, is to issue and put into effect the revised, more flexible moratorium at 4 pm EDT.
A government source said that under the new ban deepwater production will be allowed to continue, only some deepwater drilling will be banned. If new safety and environmental rules are meet than shallow drilling will be allowed to continue. If Salazar finds that deepwater drilling can be resumed safely, the freeze could end before November 30th, continued the source.
According to spokesman Robert Gibbs, the White House feels strongly that the revised moratorium will stand up in court.
Wednesday, September 9, 2009
Brazil Finds Another Huge Oil Field
Brazil continues to increase its reputation as a major player in the oil business, discovering another major oil field, with estimates of up to two billion barrels of oil able to be recovered from it.
This oil discovery is called Guara, and is the result of the new techniques being used which can find oil under the salty sea bottom, which were undiscoverable before.
Estimates in the overall region is what is being called pre-salt reserves, cover a huge range, from a low of 60 billion barrels of oil to 150 billion barrels of oil.
There is no doubt that once the economic crisis begins to wane down, which could still be several years away, Brazil is poised to be come the major oil producer in the region, and as a result change the political and social structure of the region, as they become the largest Latin American provider of energy, overtaking the socialist foolishness of Hugo Chávez and his continuing destruction of Venezuela.
So far it is the largest area of oil discovered this century, and more than likely won't be the last, as the ocean floors are scoured for new oil fields that couldn't be seen in the recent past.
This oil discovery is called Guara, and is the result of the new techniques being used which can find oil under the salty sea bottom, which were undiscoverable before.
Estimates in the overall region is what is being called pre-salt reserves, cover a huge range, from a low of 60 billion barrels of oil to 150 billion barrels of oil.
There is no doubt that once the economic crisis begins to wane down, which could still be several years away, Brazil is poised to be come the major oil producer in the region, and as a result change the political and social structure of the region, as they become the largest Latin American provider of energy, overtaking the socialist foolishness of Hugo Chávez and his continuing destruction of Venezuela.
So far it is the largest area of oil discovered this century, and more than likely won't be the last, as the ocean floors are scoured for new oil fields that couldn't be seen in the recent past.
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
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
Wednesday, September 2, 2009
BP in Big Oil Discovery in Gulf of Mexico
Oil Discovery BP
Drilling down to over 35,000 feet, BP Plc made a significant oil discovery in the Gulf of Mexico at the Tiper Prospect, with an estimate of over 3 billion barrels of oil found there.
The 35,000 plus foot drill is the deepest exploration well in history.
It is expected to be in production during the latter part of the next decade, and help BP bring oil production to about 600,000 barrels a day sometime after 2020.
According to BP's lead executive for exploration and production, Andy Inglis, this could increase production of the company between one to two percent from between 2013 and 2020. That of course depends upon how long it takes to get the oil field on line.
This is the second material discovery in what is called the Lower Tertiary in the Gulf of Mexico by BP. The other one was a smaller field named Kaskida. Kaskida is estimated to hold about 3 billion barrels of oil, and Tiber is bigger than that, said BP. Plans are in place to drill as second well in Tiber sometime in 2010.
According to BP, they are the largest net leaseholder in the Lower Tertiary area.
Oil Discovery BP
Drilling down to over 35,000 feet, BP Plc made a significant oil discovery in the Gulf of Mexico at the Tiper Prospect, with an estimate of over 3 billion barrels of oil found there.
The 35,000 plus foot drill is the deepest exploration well in history.
It is expected to be in production during the latter part of the next decade, and help BP bring oil production to about 600,000 barrels a day sometime after 2020.
According to BP's lead executive for exploration and production, Andy Inglis, this could increase production of the company between one to two percent from between 2013 and 2020. That of course depends upon how long it takes to get the oil field on line.
This is the second material discovery in what is called the Lower Tertiary in the Gulf of Mexico by BP. The other one was a smaller field named Kaskida. Kaskida is estimated to hold about 3 billion barrels of oil, and Tiber is bigger than that, said BP. Plans are in place to drill as second well in Tiber sometime in 2010.
According to BP, they are the largest net leaseholder in the Lower Tertiary area.
Oil Discovery BP
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