White House to Propose Allowing Oil Drilling Off Atlantic Coast

[Freddie Stubbs]

Source: The New York Times

WASHINGTON — The Obama administration on Tuesday will announce a proposal to open up coastal waters from Virginia to Georgia for oil and gas drilling, according to a person briefed on the plan.

At the same time, in Alaska, the administration will ban drilling in some portions of the Beaufort and Chukchi Seas, according to the person familiar with the plans, who could not speak publicly about them until the announcement.

Opening the Eastern Seaboard to oil companies is a prize the industry has sought for decades and is a blow to environmental groups. They argue that the move would put the coasts of Virginia, the Carolinas and Georgia at risk for an environmental disaster like the BP spill that struck the Gulf Coast in 2010, when millions of barrels of oil washed ashore after the explosion of the Deepwater Horizon rig.

The move to ban drilling in some Arctic waters is certain to enrage Alaskan lawmakers who are already angry about an administration plan, announced during the weekend, to provide tougher environmental protections in the Arctic National Wildlife Refuge, a 19-million-acre sanctuary that is believed to contain large reserves of oil and gas.

Read more: http://www.nytimes.com/2015/01/27/us/politics/white-house-to-propose-allowing-oil-drilling-off-atlantic-coast.html?ref=energy-environment

[djean111]

1. Wow, Obama sure has a great list of things he wants to do in these last two years!

TTP, oil drilling off the coasts, can't wait to see what is next!!!!!!

[peoli]

2. FUCK THIS BARACK!

Why Barack do you have to do this when every other previous president including republicans have said no? I mean what the hell is your f'ing point? La la la la la la all of the above strategy?

There is ZERO REASON for this. This is ANTI-ENVIRONMENTALIST. THIS IS PURE TED CRUZ, THIS IS PURE SARAH PALIN.

http://www.ibtimes.com/obama-paves-way-east-coast-offshore-oil-exploration-controversial-sonic-cannons-1632726

[Freddie Stubbs]

3. Incorrect. Pure Ted Cruz or pure Sarah Palin would not ban any drilling in Alaska

[jwirr]

4. That will certainly win votes in 2016!

[KoKo]

5. I thought we laughed at the outrage of "Drill Baby Drill" and Palin?

Something has happened along the way.

[nc4bo]

6. Oh goodie, accidental oil slicks from sea to shining sea. Thanks. nt

[liberal N proud]

8. And every Nor-easter can be drive oil prices up

And obviously the environment no longer matters. We have destroyed the gulf coast, so lets move to the east cost.

[KeepItReal]

9. "intended to strike a deliberate balance between supply expansion and environmental protection"

Oh, the 3 dimensional chess at play...

No drilling in ANWR (nice), but go for it off Virginia, the Carolinas and GA.

BP and TransOcean coming to your neck of tha woods!

Enjoy that East Coast seafood while you can. (but not really)

[bemildred]

10. Gotta be oil we can export somewhere. nt

[TimeToEvolve]

11. so much for that glowing SOTU speech on protecting the environment.........

it's disappointing to see people get taken in by that P.R. crap

[villager]

14. Wait, what? Glowing words in a speech proving to be the opposite of actual policies!?

Color me... well, weary. But not at all surprised.

[Mojorabbit]

12. Oh Hell no! nt

[FLPanhandle]

13. Why is the Atlantic Coast more important than the Gulf Coast?

I've always wondered why are our Gulf Coast beaches and environment less important than the Eastern Seaboard.

If it's bad, ban it all.

If it's okay for us, why not Virginia - Georgia?


Personally, I believe it should all be banned. It's too risky, but I would love to see the bend of logic why someone thinks offshore drilling is fine for the Gulf of Mexico and not for the Atlantic Coast.

[octoberlib]

16. This makes me sick. NC's teabagger governor and Senator are doing high fives right now.

[jakeXT]

17. Looks like the Petrodollar will be going away

LONDON Mon Nov 3, 2014 10:07am EST

Petrodollars leave world markets for first time in 18 years - BNP

Nov 3 (Reuters) - Energy-exporting countries are set to pull their "petrodollars" out of world markets this year for the first time in almost two decades, according to a study by BNP Paribas.

Driven by this year's drop in oil prices, the shift is likely to cause global market liquidity to fall, the study showed.

Brent crude futures have fallen 23 percent this year, with 2014 promising to be only the second year since 2002 that crude prices will end the year lower than they began it.

This decline follows years of windfalls for oil exporters such as Russia, Angola, Saudi Arabia and Nigeria. Much of that money found its way into financial markets, helping to boost asset prices and keep the cost of borrowing down, through so-called petrodollar recycling.

This year, however, the oil producers will effectively import capital amounting to $7.6 billion.

http://www.reuters.com/article/2014/11/03/emerging-oil-petrodollars-idUSL6N0ST2YZ20141103