New deepwater drilling permits: Zilch

[j-mac]

NEW YORK (CNNMoney.com) -- President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn't issued any new permits in the Gulf of Mexico.

And most analysts say permits will be slow in coming through 2011.

The Interior Department halted deep water permits shortly after BP's Macondo well blew out last April. The accident resulted in the worst oil spill in U.S. history.

The moratorium was lifted in mid-October after government officials were confident new, stricter rules and regulations were in place.

But no new permits for wells covered under the ban have been issued, according to a spokeswoman for the Interior Department's Bureau of Ocean Energy Management Regulation and Enforcement.

"[BOEMRE director Michael] Bromwich has indicated that he hopes to see some approved by the end of the year but cannot speculate," the spokeswoman said in a statement.

Even if a few permits come through, analysts say it will be a far cry from the amount issued pre-spill.

"We're not holding our breath for a return to business as usual," Whitney Stanco, and energy analyst at the Washington Research Group, wrote in a recent research note. "Despite pressure from Gulf state lawmakers and the oil and gas industry, we believe permitting in 2011 will likely be slower than it has been in recent years."

Offshore drilling still on hold - Nov. 12, 2010

This is absolutely insane! As Oil prices inch up, now back around $90 per barrel, and Americans bracing to feel it at the pump, I find myself wondering why Obama, and his band of merry destructors are not taking an "all the above" approach?

Is it willful pain inflicted on America by these inept amateurs? Or is it something more insidious? I don't know, but from what I gather, we sit above some of the largest reserves in the world, and can't get to them because of agendas of self loathing individuals, and groups that drive the WH policy.

We should be tapping everything we can, and helping easing this crisis that Obama has manufactured. What makes it worse is that while Americans try to get it together to put a roof over their heads, and food on the table, we have had to watch vacation, after vacation from this stupid President that is tone deaf to the suffering of his own people. GAWD I can't wait til 2012!


j-mac

 

[Wiseone]

Firstly, we don't have the world's largest reserves and the Gulf by itself is definitely not it.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

Secondly, gas prices are about the same as they were a year ago. And are significantly less than they were a few years ago, and has dropped far below the measured decrease of national income.

U.S. Retail Gasoline Historical Prices

U.S. Retail Gasoline Historical Prices

Now lastly, is it too much to ask to think that perhaps if the standards are stricter that it may be more difficult to get a permit? While deep water oil drilling is by no means a standard operation everywhere you go, there are of course similarities as there are with anything. However the new standards obvious would give cause to companies to rethink their permits and perhaps even submit unsatisfactory permits.

You could argue that stricter permits are harming the overall oil supply of the world, thus increases the price. However oil production is already far above demand and its potential production is far above demand. AND given the massive oil spill that lasted for months, clearly changes were needed.

 

[Middleground]

j-mac, do you not realize that even if the Gulf oil was flowing like Niagara Falls, it would not affect the price you pay at the pump?

 

[j-mac]

It's not the companies rethinking their permits, it is the Obama hacks not issuing them....


j-mac

 

[j-mac]

j-mac, do you not realize that even if the Gulf oil was flowing like Niagara Falls, it would not affect the price you pay at the pump?

That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

j-mac

 

[Wiseone]

It's not the companies rethinking their permits, it is the Obama hacks not issuing them....

If they don't meet the standard, why should the be issued? Now if you're implying that there's another reason they aren't being issued than please, provide a source

 

[Wiseone]

That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

Ya why hasn't anyone else thought of that? I mean its not like the United States has no means to produce all its own energy. So what should we do? The free market hasn't produced all our energy domestically and our home grown big energy companies haven't done, the only option is to get the government involved to mandate, encourage, or fund new home-grown energy production.

You socialist.

 

[j-mac]

Ya why hasn't anyone else thought of that? I mean its not like the United States has no means to produce all its own energy. So what should we do? The free market hasn't produced all our energy domestically and our home grown big energy companies haven't done, the only option is to get the government involved to mandate, encourage, or fund new home-grown energy production.

You socialist.

You really insult the intelligence of those you engage sir. Look, if we would drop the pretense and admit that enviro groups have strangled where we can produce our oil from, and forced this dependance on foreign sources, instead of the current path of limited space for exploration, and a stifling regime for permitting extraction we could be energy independent in short order.

Now either present honest debate or we are done for the day, thanks.


j-mac

 

[Dittohead not!]

Firstly, we don't have the world's largest reserves and the Gulf by itself is definitely not it.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

Secondly, gas prices are about the same as they were a year ago. And are significantly less than they were a few years ago, and has dropped far below the measured decrease of national income.

U.S. Retail Gasoline Historical Prices

U.S. Retail Gasoline Historical Prices

Now lastly, is it too much to ask to think that perhaps if the standards are stricter that it may be more difficult to get a permit? While deep water oil drilling is by no means a standard operation everywhere you go, there are of course similarities as there are with anything. However the new standards obvious would give cause to companies to rethink their permits and perhaps even submit unsatisfactory permits.

You could argue that stricter permits are harming the overall oil supply of the world, thus increases the price. However oil production is already far above demand and its potential production is far above demand. AND given the massive oil spill that lasted for months, clearly changes were needed.

There you go again, trying to counter irrationality with empirical evidence. Haven't you read my sig line?

You know that we're sitting above a veritable lake of oil just waiting for us to drill, baby drill, while the whacko environmentalists keep standing in the way. Why, we could go back to pre OPEC prices for gas if only the liberals would get out of the way and let the free market work its magic. You can't counter that kind of logic with pesky, boring old facts.

Link to more facts

 

[Deuce]

That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

j-mac

So, mandates that private companies MUST sell their product to Americans first? Even when they can get a higher price overseas? And a mandate that Americans can't buy oil from foreign sources, even if that price is lower? So much for smaller government.

Oh, by the way, no, prices would skyrocket. This is Econ 101 stuff here, isn't hard. We have a huge demand, and you're talking about slashing supply dramatically.

 

[Jetboogieman]

So, mandates that private companies MUST sell their product to Americans first? Even when they can get a higher price overseas? And a mandate that Americans can't buy oil from foreign sources, even if that price is lower? So much for smaller government.

Oh, by the way, no, prices would skyrocket. This is Econ 101 stuff here, isn't hard. We have a huge demand, and you're talking about slashing supply dramatically.

I hate it when facts come between right wing rhetoric and j-mac.

I think some goalposts are about to move...

 

[digsbe]

So, mandates that private companies MUST sell their product to Americans first? Even when they can get a higher price overseas? And a mandate that Americans can't buy oil from foreign sources, even if that price is lower? So much for smaller government.

Oh, by the way, no, prices would skyrocket. This is Econ 101 stuff here, isn't hard. We have a huge demand, and you're talking about slashing supply dramatically.

I have to agree with this. Good post eace

 

[Wiseone]

You really insult the intelligence of those you engage sir. Look, if we would drop the pretense and admit that enviro groups have strangled where we can produce our oil from, and forced this dependance on foreign sources, instead of the current path of limited space for exploration, and a stifling regime for permitting extraction we could be energy independent in short order.

Now either present honest debate or we are done for the day, thanks.

Simply math time.
2009 oil consumption of the US was 18,690,000 barrels a day.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html

US proven reserves are 19,120,000,000 Barrels
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

So if we take the proven reserves(assuming it never increases) over the daily consumption we get: roughly 9775 days. That may seem like a lot but lets divide it by 365 and convert it to years. That's 9775 divided by 365, is roughly 26 years!

So assuming that:
A) Daily oil consumption NEVER increases since 2009 levels
B) We can access every single US reserve at any given moment and without spill or error.

We can be oil independent for roughly 26 years!!!

 

[j-mac]

I hate it when facts come between right wing rhetoric and j-mac.

I think some goalposts are about to move...

why's that? I don't think I'm a lib.....


j-mac

 

[Wiseone]

why's that? I don't think I'm a lib.....

You still haven't admited you were wrong about our oil reserves though.

 

[USA_1]

This is absolutely insane! As Oil prices inch up, now back around $90 per barrel, and Americans bracing to feel it at the pump, I find myself wondering why Obama, and his band of merry destructors are not taking an "all the above" approach?

Is it willful pain inflicted on America by these inept amateurs? Or is it something more insidious? I don't know, but from what I gather, we sit above some of the largest reserves in the world, and can't get to them because of agendas of self loathing individuals, and groups that drive the WH policy.

We should be tapping everything we can, and helping easing this crisis that Obama has manufactured. What makes it worse is that while Americans try to get it together to put a roof over their heads, and food on the table, we have had to watch vacation, after vacation from this stupid President that is tone deaf to the suffering of his own people. GAWD I can't wait til 2012!


j-mac

You might want to direct your outrage at BP instead of Obama. They created the mess.

 

[j-mac]

Simply math time.
2009 oil consumption of the US was 18,690,000 barrels a day.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html

US proven reserves are 19,120,000,000 Barrels
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

So if we take the proven reserves(assuming it never increases) over the daily consumption we get: roughly 9775 days. That may seem like a lot but lets divide it by 365 and convert it to years. That's 9775 divided by 365, is roughly 26 years!

So assuming that:
A) Daily oil consumption NEVER increases since 2009 levels
B) We can access every single US reserve at any given moment and without spill or error.

We can be oil independent for roughly 26 years!!!

Isn't that data assuming that we don't explore for anything else, and going on what is already proven? And, 26 years, wouldn't that give us the time necessary to develop other forms, like powering things off of natural gas?

As such I think your CIA study is slightly flawed.

j-mac

 

[j-mac]

You might want to direct your outrage at BP instead of Obama. They created the mess.

True enough USA that BP was the crisis that Obama needed to clamp down. But they sure aren't the reason that no permits are being issued even after the administration lifted (supposedly) the moratorium.


Anyone know if Petrobras is allowed to drill in the Gulf?

j-mac

 

[j-mac]

You still haven't admited you were wrong about our oil reserves though.

I don't think I am. There are untapped, and undeveloped resources in the upper Mid West, as well as Alaska.


j-mac

 

[Deuce]

Isn't that data assuming that we don't explore for anything else, and going on what is already proven? And, 26 years, wouldn't that give us the time necessary to develop other forms, like powering things off of natural gas?

As such I think your CIA study is slightly flawed.

j-mac

These are "commercially recoverable" reserves. We can get more, but it gets more and more expensive as you go.

Anyway, it's not really relevant. Our production is simply nowhere near enough to keep up with our demand. You can't possibly keep America to domestic-only production and keep price levels anywhere near where they are now.

 

[Eighty Deuce]

Simply math time.
2009 oil consumption of the US was 18,690,000 barrels a day.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html

US proven reserves are 19,120,000,000 Barrels
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

So if we take the proven reserves(assuming it never increases) over the daily consumption we get: roughly 9775 days. That may seem like a lot but lets divide it by 365 and convert it to years. That's 9775 divided by 365, is roughly 26 years!

So assuming that:
A) Daily oil consumption NEVER increases since 2009 levels
B) We can access every single US reserve at any given moment and without spill or error.

We can be oil independent for roughly 26 years!!!

Its not a question of the U.S. becoming 100% energy independent, using our own reserves. That is not the issue here, nor is it what was raised. Nor is it a question of increased drilling lowering the price, as the price will be set primarily by worldwide demand. Even were the U.S. able to double production tomorrow, such as OPEC could reduce production and keep the price elevated.

That does not diminish the need for us to develop our own petroleum resources. It would reduce our exposure to such as embargoes and other disruptions. It dovetails into the accelerated building of nuke plants and clean coal, which to no one's surprise, despite the rhetoric, the Obama Administration has squashed. Those two industries would have been perfect targets for Stimulus, as would a border fence have been, but instead, Obama thought it better to go with the Apollo Alliance recommendations, and basically blow it all.

There is a pattern with this Administration to stifle real energy production that is not greener than green, and it is not good.

 

[Barbbtx]

That's crap. If we had an energy policy of true independence from foreign sources and used our own first, our cost would indeed drop.

j-mac

We'd also be putting people to work and keeping money here and out of the hands of people who don't like us.
I'd say we have idiots running the country, but I don't think that's it. It's much more insidious than that.

 

[Hatuey]

We'd also be putting people to work and keeping money here and out of the hands of people who don't like us.
I'd say we have idiots running the country, but I don't think that's it. It's much more insidious than that.

Yes, yes, we know. It's the commies. They're out to rape us all. Insidious I tell you! Insidious!

 

[Eighty Deuce]

Yes, yes, we know. It's the commies. They're out to rape us all. Insidious I tell you! Insidious!

Well, perhaps not ........... but, you are aware of China cornering the mining of rare-earth metals ? Owning about 97% of it as we type ? And that the U.S. is loathe to develop its own rare-earth resources due to severe EPA restrictions.

Them's the facts. Funny how it all works, eh ?

 

[Barbbtx]

Simply math time.
2009 oil consumption of the US was 18,690,000 barrels a day.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html

US proven reserves are 19,120,000,000 Barrels
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2178rank.html

So if we take the proven reserves(assuming it never increases) over the daily consumption we get: roughly 9775 days. That may seem like a lot but lets divide it by 365 and convert it to years. That's 9775 divided by 365, is roughly 26 years!

So assuming that:
A) Daily oil consumption NEVER increases since 2009 levels
B) We can access every single US reserve at any given moment and without spill or error.

We can be oil independent for roughly 26 years!!!

We don't know how much oil is still to be found.
That aside, we are working on new kinds of energy all the time. Who knows what our oil needs will be 20 yrs from now? I'm up there in yrs a bit and I remember as a kid , we were always about to run out of oil.
We need to start using all of our own resources while working on newer, greener (gawd, I'm starting to hate the word green), energy.
Drill here drill now!
If we vote in another frigging liberal in 2012, we'll deserve whatever we get.