Up to 20 oil rigs could leave the Gulf of Mexico, in addition to the 11 that have already left, since the Obama Administration imposed a moratorium on deepwater oil and gas drilling in May 2010, a new report from FBR Capital Markets has concluded.
Unless the permitting process is accelerated, FBR analysts anticipate that anywhere from eight to 20 rigs could depart the deep waters within the Gulf. The moratorium was imposed in response to the explosion of British Petroleum’s (BP) Macondo oil well on April 20 of last year. The accident resulted in the death of 11 workers and caused an estimated five million barrels of crude oil to spill into the Gulf.
Although federal officials announced they were lifting the restrictions last October, a “de-facto moratorium” remains in effect that stifles energy production and undermines large and small businesses in the Gulf region, industry officials have argued.
Hey, would this be representative of some of the onerous regulatory requirements business keeps referring to but the Administration can't seem to put their finger on?
I say let them go. We don't need the work or the oil anyway. Those oil workers down in the Gulf can get some green jobs and we can all just pay higher prices for foreign oil...while keeping the war machine going to secure access to that foreign oil.
I can see the Obama Administration jobs and economy plan falling in place now.
What did Willy say, "you can't make this stuff up"? Priceless!!!!
I thought the Cubans were going to buy them and slant drill our reserves. Or Hugo Chavez could rent them to fund his weapons programs by drilling off his shores.
Thomas Sowell: There are no solutions, just trade-offs.
Though the mainstream media has left the story alone, reports of a new slick of oil spotted about 40 miles out in the Gulf of Mexico, near British Petroleum’s Macondo well, have many concerned.
Though the theories are un-comfirmed by BP, many worry that the oil might be the result of yet another BP spill. Several samples collected by the Mobile Press-Register in late August bore the same chemical footprint of the Deepwater Horizon oil, according to chemists with Louisiana State University. But BP executives have reported finding no leaks in the seal on the Deepwater Horizon well or the relief well, after a survey by a submersible robot.
YES! Gas prices might go up 1/4 of a penny, but the Gulf Of Mexico will be much cleaner now. Lets get rid of all of them..Libya has infinately more and better quality oil and guess who's gonna get most of it?
We should be drilling for our own oil to decrease our imports and have good paying jobs. It won't affect the price of oil much, so what? The point is Jobs and home grown energy!
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Joe wrote: We should be drilling for our own oil to decrease our imports and have good paying jobs. It won't affect the price of oil much, so what? The point is Jobs and home grown energy!
One more time..WE DON"T HAVE ANY SIGNIFICANT AMOUNTS OF OIL HERE!
Vice Lord wrote: YES! Gas prices might go up 1/4 of a penny, but the Gulf Of Mexico will be much cleaner now. Lets get rid of all of them..Libya has infinately more and better quality oil and guess who's gonna get most of it?
Quick, everyone flee! 
