The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

The latest lie from the left: Two-thirds of oil and gas leases in Gulf inactive – UPDATED!

Posted by iusbvision on April 1, 2011

The talking point: What do you mean drill for more oil, the oil companies do not want to drill for more oil, they bought the leases and just let them sit there so we will pay Brazil to look for oil there.  [Oh by the way who has a huge money stake in Petro-Brazil? Obama money man and buddy George Soros - Editor]

That entire narrative is a complete scam as you will soon see.

AP:

WASHINGTON – An Interior Department report to be released Tuesday says more than two-thirds of offshore oil and gas leases in the Gulf of Mexico are sitting idle.

According to the report, obtained by The Associated Press, those inactive swaths of the Gulf could potentially hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas. The report also shows that 45 percent of all onshore oil and gas leases are inactive.

President Barack Obama ordered the Interior Department review earlier this month amid pressure to curb rising gas prices. The White House says Obama will address his plans for the country’s energy security during a speech in Washington Wednesday.

The first problem is that the permitting process to actually get the permits to drill on the lease take years.The government puts years worth of roadblocks in the permitting process, this complicated by the fact that in each stage of the permitting process that gets approved by the federal government, eco-extremist groups sue to stop it.

Obama instituted an offshore drilling ban as was widely reported. The ban was illegal and a federal judge ordered him to stop. Obama ignored the court order. Then look at what Obama did to the regulations to have a de facto ban anyways. The film below explains how they did it. It will infuriate you.

So here is the situation, the government charges money for the lease and then works with anti-capitalist and eco-extremist groups to prevent that lease from ever getting the permits.

Related:

Obama pushed Brazil to drill more, promises aid to Brazil to help drill. While at home imposes drilling ban.

Obama Administration Held in Contempt for Violating Court Order

API: Recent Studies Show Obama Drilling Moratorium Will Cost 50,000 Jobs; 160,000 by 2032.

Heritage: Anti-Drilling Policies Costing Federal Government Billions in Lost Revenue

Now Russia, along with Mexico, Spain, Cuba, and China are building oil wells just miles off our shores while Obama keeps Americans out. UPDATE – Steve Forbes: Obama repeating Carter’s mistakes.

If You Ever Needed Proof that Democrats Want Higher Gas Prices…

UPDATE -

Sarah Palin: What We Were Saying One Year Ago About Obama’s Failed Energy Policy

 

 

UPDATE II – Dick Morris:Obama has zeroed out new drilling permits. The few that are starting now are left over from permits that were approved from the Bush Administration

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