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James48843 said:
I call bunk.

There aren't "thousands of rigs sitting idle in the Gulf".

According to the latest data, there are MORE rigs pumping today (488) than there were one year ago. (445).

Facts: http://rigzone.com/data/utilization_trends.asp
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Every chance you get, don't ya?

Okay, you win..I meant thousands of jobs, as quite a few oil rigs sit idle..:rolleyes:

Oil Rigs in Gulf Sitting Idle as the Economy Continues to Worsen​

James Rosen reported on Special Report that the Obama administration’s newest version of the drilling moratorium could have a large, resounding impact on the financial and job sectors.
The new moratorium, which last could until late November, is predicted to cost 137,000 jobs and cause even more pain in the financial sector.

Rosen also reported that 42 rigs, costing about half a billion dollars to build, are now sitting idle or are currently under construction in the Gulf.
So, is the Gulf economy the main concern for the administration? Well, according to the government’s new point man on Gulf drilling, the Bureau of Ocean Energy Management’s Michael Bromwich, his biggest concern as of now is safety, not economic hardships.

http://www.foxnewsinsider.com/2010/...ting-idle-as-the-economy-continues-to-worsen/
 
What happened did I say something that reflects poorly on your man Obama? They need to get off of their butts or you will see Oil and Gas spike. Why the rise in prices NOW is it the start of the driving season? Or is it the possibility that fuel oil use is about to rise? Or is it that Deep Well drilling in the GOM has been stopped, but our government is loaning money to Mexico and Brazil to finance their state owned Oil Companies?:nuts:
Drill Drill Drill
 
I would prefer to see a $1 a gallon tax on gasoline--and use that money to develop renewable fuels. That would help a LITTLE towards the enormous subsdies given to oil companies, and woud help reduce our dependence on foreign oil.
 
Buster said:
Every chance you get, don't ya?

Okay, you win..I meant thousands of jobs, as quite a few oil rigs sit idle..:rolleyes:

Oil Rigs in Gulf Sitting Idle as the Economy Continues to Worsen​

James Rosen reported on Special Report that the Obama administration’s newest version of the drilling moratorium could have a large, resounding impact on the financial and job sectors.
The new moratorium, which last could until late November, is predicted to cost 137,000 jobs and cause even more pain in the financial sector.

Rosen also reported that 42 rigs, costing about half a billion dollars to build, are now sitting idle or are currently under construction in the Gulf.
So, is the Gulf economy the main concern for the administration? Well, according to the government’s new point man on Gulf drilling, the Bureau of Ocean Energy Management’s Michael Bromwich, his biggest concern as of now is safety, not economic hardships.

http://www.foxnewsinsider.com/2010/...ting-idle-as-the-economy-continues-to-worsen/
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Faux news. Why shouldn't I be surprised?


Good topic for Beltway. let's move it over there.
 
Rigs taking drilling, jobs abroad in wake of moratorium
c1main.rigs.jpg
With a moratorium in place, some rigs are taking their business elsewhere.

Of the 33 oil rigs in the Gulf of Mexico that have been slapped with a six-month moratorium, at least two are already on track to move abroad, an official in Port Fourchon, Louisiana, told CNN. [more]
http://news.blogs.cnn.com/2010/06/04/rigs-taking-drilling-jobs-abroad-in-wake-of-moratorium/
 
James48843 said:
Faux news. Why shouldn't I be surprised?


Good topic for Beltway. let's move it over there.
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I thought you lived for reality...Oops I forgot, unless it's on one of your liberal leftist TV networks, it's not reality..:laugh::laugh:
 
09/30/2010 - Updated 1:00 PM ET
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Crude oil rises after jobless, growth dataNatural gas tanks after higher-than-expected supply increase
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By Claudia Assis, MarketWatch & Nick Godt, MarketWatch

SAN FRANCISCO (MarketWatch) — Crude-oil futures rose on Thursday, receiving boosts from a drop in U.S. jobless claims, a slightly upward revision to second-quarter growth, and news that manufacturing in the Chicago area rose.[more]
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BECEFC3C6%2DCC90%2D11DF%2DACD0%2D00212804637C%7D
 
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Silverbird said:
Interior Dept. sets new offshore drilling rules

Interior Department sets new rules for offshore drilling, a step toward lifting deepwater ban

http://finance.yahoo.com/news/Inter...2.html?x=0&sec=topStories&pos=5&asset=&ccode=
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It may take a good while with everything that has been changed and the costs of compliance will be passed down to consumers.:suspicious::cool:
EXCERPT:
Under the new rules, operators will be required to comply with tougher requirements for everything from well design and cementing practices to blowout preventers and employee training. They will also need to develop comprehensive plans to manage risks and improve workplace safety.
Salazar has said the new rules must be in place before the Interior Department lifts a ban on deepwater drilling. The ban is set to expire Nov. 30, but officials have said they hope to end it early.
The rules announced Thursday are not the final step, Salazar said, noting that the Interior Department is likely to propose requiring that emergency cutoff devices known as blowout preventers have a second set of blind shear rams -- the parts that can shear off and shut down wells in the event of a catastrophic blowout.
 
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Buster said:
Kind of unusual for oil to out run the markets today..:confused:

Gas up .02 to $2.51 today
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I agree, for the longest time it's been the opposite. It will probably hold true to form today?:confused:
Gas averaging about $2.51 around here.
 
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HA!! The Dollar is SOFTENING? They mean devaluing I think!:nuts:
Oct. 5, 2010, 8:29 a.m. EDT ·
Dollar mostly lower after surprise Japan rate cut

By William L. Watts and Lisa Twaronite, MarketWatch

LONDON (MarketWatch) — Central banks called the tune in foreign-exchange markets Tuesday, with the dollar falling versus most major rivals after the Bank of Japan delivered an unexpected rate cut and unveiled a new asset-buying fund. [more]
http://www.marketwatch.com/story/dollar-gets-short-lived-boj-boost-vs-yen-2010-10-05

10/05/2010 - Updated 8:40 AM ET
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Crude trades higher, nears $82 as dollar softens
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By MarketWatch,
http://markets.usatoday.com/custom/...-11DF-8158-00212804637C}&loc=interstitialskip
 
This should drive the prices HIGHER!:nuts:

Obama Admin.'s New Federal Office Begins Work for O&G Royalties
by Jennifer A. Dlouhy
|
Houston Chronicle
|
Monday, October 04, 2010


Obama administration advanced a major piece of its overhaul of the way the federal government oversees offshore drilling by creating a new office to collect oil and gas royalties. http://www.rigzone.com/news/article.asp?a_id=99551&hmpn=1
 
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