Tuesday, October 12, 2010

End of the Drilling Moratorium? No Way

Obama waves his 'end of the drilling moratorium' foofoodust-flag as though it actually means something.

It doesn't.

...In the shallow water (where there has NEVER a moratorium), energy producers have been pursuing permits for over 4 months and have seen an approximate 90% drop-off in permits compared to pre-Deepwater Horizon. Ask yourself what business can afford to see a 90% drop-off in activity? ...

And even though the "moratorium is lifted", the rules are still fluid--meaning that no one knows for sure what's do-able.

HT: AmSpec

1 comment:

Billiam said...

Let us also remember that the new rules have yet to be written. They likely won't be until after the new year. Obama screwed the pooch. this is nothing more than a political ploy for the weak minded.