Wednesday, July 27, 2011

Oil Drilling News


Battle lines on offshore revenue sharing drawn on Capitol Hill
"The battle lines over offshore revenue sharing with states sharpened Wednesday, with the Republican chairman of the House Natural Resources Committee announcing plans to craft legislation to expand it, and the top Democrats on the panel filing legislation to repeal what they called "oil-well welfare" for Louisiana, Mississippi, Alabama and Texas."


Shell VP makes case for Alaska drilling
"Environmentalists who oppose Shell's drilling plans have warned that it could be difficult to clean up any oil spilled in slushy Arctic waters. Cold, icy conditions also mean it could take far longer than in the much warmer Gulf for any spilled crude to naturally break up in the water. And they insist the risks are too great for seals, whales, walruses and polar bears that live in the region as well as the native communities that live off those resources."

US not ready to respond to Arctic oil spills: Coast Guard chief
"If this were to happen off the North Slope of Alaska, we'd have nothing," said Admiral Robert Papp, the agency's commandant. "We're starting from ground zero today."

President Obama, Are We Really Ready To Drill Here? (VIDEO)


McDonnell Administration Continues Advocacy Of Offshore Oil And Gas Exploration And Development


Five Car Makers Back White House's Tougher Fuel Economy Rules
"Most of the largest auto makers have signed off on the proposal, people familiar with the matter said. General Motors Co., Ford Motor Co., Chrysler Group LLC, Honda Motor Co. and Hyundai Motor Co. have told the administration they will support the plan. Others are expected to decide Wednesday."

US expands program to boost production of renewable fuel crops
"Four new project areas will set aside hundreds of acres in California, Kansas, Montana, Oklahoma, Oregon and Washington for the production of renewable energy crops, Agriculture Secretary Tom Vilsack said. USDA has allocated about $45 million for contracts that range from less than five years to up to 15 years. Producers who participate in the BCAP program are eligible for reimbursements of up to 75% of the establishment costs of the crop, plus annual maintenance payments for up to five years for herbaceous crops and up to 15 years for woody crops, USDA said."

Tesla beginning to produce Beta versions of Model S