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Grand Oil Party Ignores Natural Gas Market Realities To Blame Obama

Seeded on Wed Apr 6, 2011 9:57 PM EDT
Read ArticleArticle Source: Think Progress
politics, republicans, new-york, wall-street, devon-energy, grand-oil-party, mountain-states, to-blame-obama, ignore-natural-gas-market, western-energy-alliance
Seeded by Par4TheCourse
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Another week, another hearing by the House Natural Resources Committee to perpetuate the myth that the only thing standing between us and energy security are the policies erected by the Obama administration that are supposedly thwarting domestic drilling on public lands. According to a recent statement by committee chairman Rep. Doc Hastings (R-WA), the "greatest factors" for new drilling are federal regulations and laws:

Federal regulations and laws, especially those imposed by the Obama Administration, are the greatest factors affecting the pace of developing leases. The Administration has imposed regulation after regulation, roadblock after roadblock, and now wants to turn around and say production is not moving fast enough.

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Par4TheCourse

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  • 1 vote
Reply#1 - Wed Apr 6, 2011 9:57 PM EDT
Par4TheCourse

“The industry ramps up activity when prices rise and reduces activity when prices fall,” natural gas giant Devon Energy wrote bluntly in its 2008 annual report. “Devon’s sharp reduction in exploration and production capital spending in 2009 reflects our response to the current low-price environment and concern about the global economy.”

  • 2 votes
#1.1 - Wed Apr 6, 2011 9:57 PM EDT
Reply
jdl-28

Obama would prefer us to send our money to the Muslims country, he doesn't care what our gas prices go to. after all he isn't paying for his gas now we are.

Air force one cost how much to fly? Maybe Obama needs to stay in DC more using the internet more.

    Reply#2 - Thu Apr 7, 2011 1:14 AM EDT
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