Article

2010-07-09 Economy

Appeals court rejects U.S. request to restore drilling moratorium

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Posted by Matt 2010-07-09 09:08|| || Front Page|| [2 views ] Top

#1 The practical effect of this is minimal, since there is a de facto drilling moratorium until this is finally settled in the courts three or four years from now.

Posted by Anguper Hupomosing9418 2010-07-09 11:35|| 2010-07-09 11:35|| Front Page Top

#2 I noticed that none of the major oil company's opposed the moratorium. I think it is a very well established legal precedent that the government can not sell oil leases and then impose a moratorium which prevents the oil company's from drilling the leases.

Rather than fight a presidential moratorium the oil company's simply turn around and sue the Interior Department for expenses and lost potential profits and then laugh all the way to the bank. The oil company's have their profits and don't even have to set up a rig.
Thousands of people are put out of work and the states lose billions of dollars in oil revenue.
The oil company's don't care where they drill. They go where ever they can make the most profit.

Posted by junkirony 2010-07-09 11:46|| 2010-07-09 11:46|| Front Page Top

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