The U.S. government says it would immediately issue a new ban on deepwater drilling if it loses...

The U.S. government says it would immediately issue a new ban on deepwater drilling if it loses an appeal set for today, setting the stage for a fight that could go to the Supreme Court.

Comments (17)
  • montanamark
    , contributor
    Comments (1455) | Send Message
    of course it will. we live in the black panther nation. why follow the law.
    sue AZ but applaud the sanctuary cities.
    8 Jul 2010, 02:26 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    US Govt motto: "Just make it up to fit our agenda as we go along"
    8 Jul 2010, 02:27 PM Reply Like
  • AxiosCap
    , contributor
    Comments (312) | Send Message
    Someone needs to start beating the impeachment drum. This guy could care less about the rule of law.
    8 Jul 2010, 02:35 PM Reply Like
  • montanamark
    , contributor
    Comments (1455) | Send Message
    God forbid obama will enable some of those rig workers to go back to work. How long you think these rig owners (that have not left already)
    will hang around.
    pure political BS to push crap and trade.
    he was on again today bragging about green jobs.
    meanwhile cover-up of spill continues
    8 Jul 2010, 02:36 PM Reply Like
  • TXBankingExec
    , contributor
    Comments (123) | Send Message
    Rule of law? Ha, I laugh in your face!
    8 Jul 2010, 02:39 PM Reply Like
  • sladd
    , contributor
    Comments (123) | Send Message
    The problem with the Obama Administration:


    - They are closet Socialists living in a capitalist society
    - Obama needs to win, otherwise he appears weak politically, notice how small fractures are slowly appearing
    - He needs to cater to the lefties and wacko fringed environmentalists, heaven helps his electorate if he sides with big business
    - He has no real energy plan or policy to justify the ban, he painted himself into a corner and must fight to the end no matter how ridiculous it sounds
    - He is surrounded by an inexperienced staff who are provding poor advice
    - Pelosi, the adminstrations mouthpiece, is so hated by the public (think Al Gore), there is no one else to vet ridiculous and stupid ideas through the media
    8 Jul 2010, 03:06 PM Reply Like
  • dodges
    , contributor
    Comments (23) | Send Message
    There is no closet. This is a socialist administration.
    9 Jul 2010, 10:55 AM Reply Like
  • mowjo
    , contributor
    Comments (96) | Send Message
    If the Government gave permission to drill I don't see why they can't rescind that permission. Especially, if there is a safety issue. We need to drill everyone of those wells and more. But, it needs to be done safely. The Oil companies are making millions of dollars a day in profits, watch their profits in the upcomming earnings season, and I for one don't have the slightest problem making sure they are doing everything necessary to prevent another gigantic spill.
    8 Jul 2010, 03:33 PM Reply Like
  • AxiosCap
    , contributor
    Comments (312) | Send Message
    There is no safety issue. Of the thousands of wells, this was the first spill. The ban was considered arbitrary by the original judge and it is. What is the basis for the ban? There is nothing legitimate. What it will do is cost jobs, lose revenue, and help Obama push his redistributionist Cap and Trade agenda.
    8 Jul 2010, 03:39 PM Reply Like
  • Econdoc
    , contributor
    Comments (2938) | Send Message
    does not work that way.


    this is not Venezuela.


    these are contracts - you cannot simply abrogate them without cause - the fact of a spill does not mean that there will be another or that all are breaking the rules or cutting corners. you can't just do away with due process. otherwise there is no confidence.


    let them inspect, let them do their job but let the oil companies do theirs in the meantime. the response was hysterical and ill conceived. the judge was right to knock it down and they will knock it down again.


    this is contemptible behavior by government and represents a major impediment to business confidence. if some fool can just change the rules or disregard them on a whim or to score political points without debate - without consultation - well that's just wrong.


    I have said it before. the government has been disgusting through this whole episode and appears to be complicit through its ineptitude.


    Sorry to say it but more and more Obama appears to have been a truly regrettable mistake - another Bush - with better diction but the same level of incompetence and even more venality. Clinton would have been a better choice.


    8 Jul 2010, 11:42 PM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
    Best post from you I've seen doc.
    9 Jul 2010, 07:01 AM Reply Like
  • sladd
    , contributor
    Comments (123) | Send Message
    Remember the cost to drill is passed on to consumers in the end, just like any other business who produces a product
    8 Jul 2010, 03:36 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3130) | Send Message
    If they are not careful how they do the wording on a new ban, then the Administration could be in contempt of the previous court ruling. The functional thing they could do would be to delay the permit process even long, which could function like a ban with calling it a ban. I would hate to see that happen, though I think if the Administration takes that position we will see a greater exodus of drillers and oil services companies from the Gulf of Mexico.


    One thing the Administration does not seem to understand is that the average contracts are three to five years. Once the service vessels and drilling vessels leave the GoM, it will not be months until they return, it will be years.


    As a heavy investor in oil, oil services, and shipping, I am looking more at companies that have little to no exposure to GoM. Companies already outside the GoM will perform better quicker than companies more heavily involved there. Already Petrobras (PBR) reps have been meeting with many companies to pull more resources to Brazil. It seems to me that what the US might not want, Brazil and West Africa will be happy to pick up. Then when those productions improve in those areas, they will be happy to sell oil to the US to meet the shortfall in demand due to greatly decreased GoM production.
    8 Jul 2010, 03:45 PM Reply Like
  • sladd
    , contributor
    Comments (123) | Send Message
    while we are at why not just buy all of our oil from foreign sources, give all of our jobs to the Chinese, borrow all of our money from Asia, then put a gone fishing sign on the White House and Congress and call it for what it is - failure of leadership and common sense.
    8 Jul 2010, 04:04 PM Reply Like
  • Neil459
    , contributor
    Comments (2636) | Send Message
    And the ones that are clicking the -1's here do not even understand that all of the promises will never be fulfilled and they will in time come to understand how ignorant they are!
    8 Jul 2010, 04:38 PM Reply Like
  • Albert Ling
    , contributor
    Comments (116) | Send Message
    Banning drilling is the same as saying
    - be results oriented, if nothing happens then let it ride, if it does then insta-ban after-the-fact (and if tomorrow we have a coal power plant explode we should ban coal power)
    - laws don't count, what counts is in what mood Obama woke up today.
    - US consumers should have bigger costs for driving
    - that extra money should go to people like Mahmoud Ahmadinejad and Hugo Chavez


    If that's what you want, then yes to the drilling moratorium.
    9 Jul 2010, 10:46 AM Reply Like
  • Angel Martin
    , contributor
    Comments (1370) | Send Message
    this is just typical of the way that Oilbama has handled this whole thing.


    He are quick to act and run roughshod over any law that gets in the way of his political agenda ie. $20 bil shakedown for lawsuit settlements (and his trial lawyer buddies), or an offshore drilling ban.


    But when it comes to a temporary suspension of the Jones Act, stupid OHSA rules on counting lifejackets, or EPA rules excluding certain types of skimmers that could actually limit the damage from the spill, he wrings his hands and says there is nothing he can do.


    I think the region of the country is an issue. That's an area that Zero has very little support, even before the spill. So his priority is political positioning, $lawsuits, and using the spill to promote his pet projects like cap and trade.


    Maybe if San Francisco gets flattened by an earthquake we would see some action out of this fool !


    but i wouldn't bet on it !
    9 Jul 2010, 11:21 AM Reply Like
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