The President to open drilling in Alaska? It must be true, it's being reported by the New York Times.
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Update, 5:20 p.m. EST, May 14, 2011: Never mind. I got the story from today's on-line edition of the LA Times. I was not aware that the president had promised the same thing more than a year ago (March 31, 2010).
Update, 6:59 p.m. EST, May 14, 2011: Never mind. The actual drilling won't begin in my investing lifetime based on past history. The scuttlebutt is that "opening" these areas to new drilling will be a bargaining chip for raising taxes on big oil and/or a windfall profit tax. Increased taxes on big oil will happen within my investing lifetime.
hes talking the talk,, but I`ve yet seen the walk
ReplyDeleteWere you aware that there was an exlosion on a BP oerated rig in the Gulf of Mexico last year that went on for oh I don't know several months and caused havoc for the area? Or did you sleep through the whole thing ala Rip Van Winkle?
ReplyDeleteWere you aware that the root cause of said failure was general operator ineptness and lack of concern for safe operations?
When a system that has been repeatedly described as safe fails with such catastrophic results, it is a good idea to stop and evaluate what is going on dontcha think?
To "weslink": something tells me I jumped the gun in my enthusiasm. I updated the original post.
ReplyDeleteI think there may be more to this announcement: a) his advisers may realize that oil is about to jump in price (or will jump by this time next year -- right in the middle of the campaign; and, b) his internal polling may show that if gasoline does not fall appreciably in price, he can wave goodbye to a second term.
now he has to walk the walk, you think he can walk,,lol
ReplyDeleteIf anything good comes out of it (drilling off-shore), he will take all the credit. But I don't think the permitorium is over yet, much less new drilling areas.
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