Profile | Chip Hanlon
Website | Delta Global Advisors
Podcasts | Market Neutral
My Facebook
Follow Me on Twitter
RSS
Now Featured on Greenfaucet
Shot/Chaser: this Morning's WSJ Article on the Oil Drilling Ban
|
| 
|
In this Irishman's parlance, here's the shot... the WSJ article that's making the rounds today:
Drilling is Stalled Even After Ban is Lifted
An excerpt:
More than two months after the Obama administration lifted its ban on drilling in the deep-water Gulf of Mexico, oil companies are still waiting for approval to drill the first new oil well there. Experts now expect the wait to continue until the second half of 2011, and perhaps into 2012.
The administration says it is simply trying to enforce new safety rules adopted in the wake of the April 20 explosion of the Deepwater Horizon drilling rig, which killed 11 workers and set off the worst offshore oil spill in U.S. history. Environmental groups say the administration is right to take its time because the Gulf disaster exposed the risks of offshore drilling.
But the delay is hurting big oil companies such as Chevron Corp. and Royal Dutch Shell PLC, which have billions of dollars in investments tied up in Gulf projects that are on hold and are paying hundreds of thousands of dollars a day for rigs that aren't allowed to drill.
Uh, come on gang... it ain't just the big guys who are being hurt by the Administration's efforts to constrain our domestic energy producers.
Here's the chaser... a good look this morning at just one man, Thomas Clements of Louisiana, and how his small business is at Obama's mercy:
An Update on Thomas Clements' Business Prospects
In particular, watch the short Fox video interview of him that's embedded on that page. The mind boggles...
Comments (2) | Related Topics » Energy | 1600 Wall Street | Crude | Nat Gas
|
|
