No New Deep Water Drilling Permits for The Gulf [Archive] - RetrieverTraining.Net - the RTF

: No New Deep Water Drilling Permits for The Gulf

03-14-2012, 02:34 PM
The Obama administration would like you to think that major strides have been taken to increase drilling in the Gulf of Mexico. But, that is hardly the case. The administration has been touting the four drilling permits it has issued, but in reality, but these are not new permits—they have only reissued four permits that it suspended last year. The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) also touted its approval of Shell’s supplemental exploration plan in the Gulf of Mexico. But due to the way the approval process was set up by BOEMRE, it is very likely environmental groups will sue the plan before any work actually occurs. These approvals are simply a mere drop in the bucket compared to what drilling and oil production could be garnered in the Gulf. We will applaud the administration’s actions when new work is actually occurring in the Gulf of Mexico.

03-14-2012, 10:43 PM
That should make Soros an extra billion or two from his investments in Latin America.