Yesterday Shell Oil announced that is must scrap efforts to drill for oil in the Arctic Ocean off the Alaskan coast. The Reason? Obama's EPA Environmental Appeals Board is refusing to issue air permits to Shell.
Shell has spent 5 years and $4 billion getting ready to drill for oil in the Alaskan waters. The estimated 27 billion barrels of oil represents 2 1/2 times more oil than has flowed down the Alaskan pipeline in the last 30 years. Because production on the North Slope of Alaska is declining at about 7% a year, and the pipeline is currently carrying 1/3 of its capacity, the pipeline will have to shut down at some point. The Shell drilling plan was intended to produce enough oil to keep the Alaskan Pipeline open for decades to come.
The reason the EPA-EAB said NO? They believe that "emissions from an ice-breaking vessel may cause greenhouse gas emissions" from the project. The closest village, Kaktovik, Alaska, is one of the most remote places in the U.S. The population is 245, the village is 1 square mile, and it is 70 miles away from the proposed off-shore drilling site.
The EAB issuing this rule has four members. All are registered Democrats, and one of the members, Kathie Stein, was an activist attorney for the Environmental Defense Fund prior to being appointed to the EAB. That tells you all you need to know about her. Members of the EAB are appointed by the EPA administrator, who is appointed by Obama.
So the next time you fill your vehicle with gas, thank Rogue Obama and his soldiers. Be sure to place the blame where it belongs. Don't be fooled by the Justice Department committee he's appointing to make sure the American people don't get scammed by someone on Wall Street, you know, speculators, oil companies, hedge funds, etc. Obama lies. He knows it isn't their fault. After all, he passed the Financial Reform bill that was supposed to stop Wall Street shenanigans.
And don't be swayed by the "record profits" the oil companies are making. Their profit margin is around 7.4%, not an unreasonable expectation for a company. While the profit margin on an IPad is about 46%, just to put things in perspective (yes, forty six percent). If PBO goes after the oil companies for excess profits, what do you think he should do to Apple? Oh, probably nothing, Apple and Steve Jobs are HUGE contributors to the Democrats and Obama in particular.
The biggest scammer in Washington is Obama, the Let's Kill Oil King. This action sanctioned by PBO himself, along with the Print More Money policy of Bernanke and PBO, will drive investments, oil production and many, many thousands of jobs overseas. Then we can get out the checkbook and write a great big American check to purchase what we should be drilling for right here. And in the meantime, thousands more will have to draw unemployment because Obama has failed miserably at creating any jobs except to hire 200,000 more robots in Washington.
And while this Kill Oil action is taking place, all of us will continue to Pay At The Pump. Just wait until it gets to $5 or more per gallon.
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