In August, Barack Obama was forced to defend his decision to allow the hunt for oil in the last great wilderness of the Arctic on the night before his visit to Alaska where he intended to spur the fight against climate change.
He has come around to the more extreme view which he probably always possessed and has taken actions to restrict future offshore drilling in the Arctic Ocean.
The Interior Department is canceling two lease sales it had planned over the next year and a half for Arctic drilling rights and denying two oil companies’ requests to extend the time on leases that they currently hold, The Hill reported.
These companies have invested vast amounts of money in these endeavors he so callously ends with a flip of his ballpoint.
The administration said its decisions are based on the current oil markets and low interest in Arctic drilling, but it’s really a significant action to crack down on one of the most controversial types of offshore oil and gas drilling to far-left environmentalists.
Shel backed out because of costs.
“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Interior Secretary Sally Jewell said in a statement.
Shell’s Chukchi lease is due to expire in 2020. Norway’s Statoil had also requested an extension of a lease expiring in 2017 in the nearby Beaufort Sea, which was also rejected.
Essentially, Obama is blocking oil drilling in the Arctic and the leftist environmentalists, who would see us return to 1880, are thrilled.
“Today’s announcement moves us away from old arguments about companies’ unwise investments and toward better choices for the Arctic Ocean,” Susan Murray, vice president of the Pacific for Oceana, said in a statement.
“As Shell found out, the Arctic Ocean is unique and unforgiving,” she said. “Especially in light of economic, technological, and environmental realities, there is no reason to extend leases or hold new sales.”
Barack Obama has successfully convinced Americans that oil and gas are our enemies. When Barack Obama campaigned for president in 2007, Sarah Palin, then Republican vice presidential hopeful, came up with a popular slogan, “Drill, Baby, Drill.” To counteract it, he said he would continue drilling while he expands the use of alternative energy sources. It was never true.
Obama is easing in the destruction of coal, oil and gas whenever and wherever he can while denying he’s doing it. He is a leftist who prefers incremental steps.
He makes exploration extremely difficult and in many cases, impossible in the most promising untapped regions.
Foreigners can come in and with extensive piping, pull the oil out from under us as they do in the Gulf.
Hilcorp, Eni, BP, Repsol, ConocoPhillips Co. and Iona Energy Co. also currently own drilling rights in the United States’ portion of the Arctic.
Barack Obama is at the same time subsidizing fossil fuel development throughout the world and doing so in some very strange places.
A total of 5.87 million metric tons a year will be authorized as U.S. exports from four new fossil-fuel power plants, 3.67 million metric tons will be produced at natural gas-fired plants in Spain, Russia, and Israel, and 2.2 million metric tons will be produced by a coal-fired plant related to a copper-mining project in Mongolia.
The bank provided $494.5 million for exports to the project in Mongolia and $32.3 million in “engineering services” for a petroleum refinery in Russia (2013 report, page 26 at Heritage).
In 2011, billions of dollars were slated to go to Brazil so they could build a refinery, something we haven’t done since 1976, according to CNS News. The money went to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company.
“This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement.
The largest project Ex-Im supported was $3 billion in financing for a liquid natural gas project in Papua New Guinea,” according to ihatethemedia.
Brazil deserves special attention.
The President of the United States shut down deep water drilling in the U.S. while informing Brazil that the US would assist them with their drilling. The U.S. taxpayers have already given Petrobas, the Brazilian oil company, 2 billion dollars in loan guarantees for their drilling efforts.
Petrobas plans to drill 14,000 feet down in case you are wondering if they are conducting deep water drilling operations.
President Obama also let Cuba drill in the Gulf as of 2011. Since there are no controls, Cuba can syphon the oil from our ocean floor and if they have a problem similar to BP, it is doubtful they will make the reparations made by BP.
President Obama, on a trip to Brazil, said, “We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers.”
He just doesn’t give a hoot about Americans.