Thursday, May 12, 2011

Oil Drilling News


Oil CEOs on the Hot Seat

ConocoPhillips CEO Refuses To Apologize For Saying It Is 'Un-American' To End Oil Subsidies

Let's see, I guess that means government subsidies to the 'Big 5' oil companies are 'American'.  Hmmmmm....never knew that.

House to mull oil drilling off California's coast

"H.R. 1231, the "Reversing President Obama's Offshore Moratorium Act," would do just that, requiring the Interior Department to offer leases in every area with significant oil deposits three miles off the coast."
Update from Richard Charter of Defenders of Wildlife:
"The U.S. House of Representatives today passed the third bill in a series of three fast-track drilling pieces that favors Big Oil profits over safety of coastal communities and environments.
·         H.R. 1231, The Reversing President Obama's Offshore Moratorium Act, is a massive handout to the oil and gas industry. This legislation forces the federal government to take on 50% of the cost of seismic testing for oil and would require the administration to open up coastal and Arctic offshore drilling areas regardless of economic or environmental consequences. These areas would include the coasts of California, Massachusetts, North Carolina, Virginia, Florida and the fragile Arctic marine ecosystem off the coast of Alaska.
·         H.R. 1231 does not solve our gas price problem, but it does put at risk hundreds of thousands of jobs that rely on clean coastal waters. It also threatens thousands of miles of coastal habitat and exposes countless bird and marine species to the dangers of offshore drilling."

Democrats continue to press for oil company tax hikes as amendments to drilling bills