- Mar 11, 2009
- Reaction score
- South Carolina
- Political Leaning
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!