Obama Tax On Oil Companies Amounts To Pissing Profits Into The Sea

Here’s a great use of a billion dollars:

Shell losing $1 billion a year on U.S. Gulf drilling delays
Posted on February 2, 2012 at 12:12 pm by Bloomberg

Royal Dutch Shell Plc, Europe’s largest oil company, is losing about $1 billion a year from drilling delays in the Gulf of Mexico since the 2010 Macondo disaster.

Shell’s production in the region will be curbed by about 50,000 barrels of oil equivalent this year, similar to 2011, Chief Financial Officer Simon Henry said. The company expects to return to planned operations off the Gulf coast by 2014.

“The cash flow implications are a billion dollars or more per year relative to where we want to be,” Henry said in London today. “We are catching up.”

The company, which in March said it planned to raise output to 3.5 million barrels of oil equivalent a day in 2012, is now warning that production could be lower due to Gulf drilling delays, asset sales and oil and gas prices in the U.S.

The U.S. Interior Department issued new safety regulations after lifting the drilling moratorium in October 2010 put in place after BP Plc’s Macondo well exploded in April the same year. The blowout, which killed 11 and sank the drilling rig, led to hundreds of lawsuits against BP and its partners and contractors.

Want a billion dollars and a whole bunch of oil that would bring the price down (which would be really nice, given that under Obama 2011 was THE most expensive year for gasoline IN AMERICAN HISTORY)?  You could GET RID OF OBAMA AND LET THE OIL COMPANIES DRILL.

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2 Responses to “Obama Tax On Oil Companies Amounts To Pissing Profits Into The Sea”

  1. Free Market Capitalist Says:

    There is not enough time nor enough skin on your fingers, Michael, to explain the incompetence of this president and administration, even though you are doing a good job. The left is hell bent on destroying this nation and if we don’t get this marxist madman ouf of office, we are doomed. I couldn’t imagine what he could do given another 4 years, where there would be no accountability because he doesn’t have to worry about seeking re-election. I am scared, because at this point, I am not sure our current list of candidates can beat him. I hope I am wrong, but I am losing faith in the American citizens as a whole – they voted him in once already.

    The Fed has stated that they intend to keep rates low into 2014, giving the financial markets the green light. If the stock markets maintain their trend and are higher and the economy, even if only modestly, improves, then Republicans will have lost one of their main weapons. Now, I know that this stock market and the phony jobs numbers ( anything that comes out of the BLS is bologne, especially the inflation rate) are just smoke and mirrors and they are being propped up with cheap money, but its the illusion that counts and it seems that Americans would rather have the illusion than the truth.

    Anyway, this election is our last chance! With each passing week, I get more nervous and irritated. There are friends and acquaintences that I have distanced myself from because they are liberal and have no clue. I just can’t take it anymore watching “Rome” fall.

  2. Michael Eden Says:

    Free Market Capitalist,

    I know exactly as you feel.

    I had what I can only describe as a “vision” of an Obama presidency the day I first heard what his preacher for twenty years plus had been preaching. I realized that he was a truly evil man who would be an abject disaster for America.

    And it has been worse than I thought.

    There is a passage in John 18 in which the high priest (who wanted Jesus murdered) spake as a prophet saying, “Better that one man die for the people.”

    Jeremiah Wright is another evil prophet. And his prophecy was, “No, no, no! NOT God bless America! God DAMN America!”

    Now we are seeing the Word of God come to America. And this word says, “Do not pray for this people nor offer any plea or petition for them, because I will not listen when they call to me in the time of their distress” (Jeremiah 11:14).

    I’ve loved America. I fought for it as a soldier and have tried to fight for it as a conservative blogger.

    But we are at that moment where we will either choose to face up to reality and survive as a nation or choose the ostrich approach and perish as a nation.

    If this nation reelects Obama, I’m done. I won’t abandon blogging, but I will be all about warning those who will listen (and those who want to learn more) about the soon-coming last days.

    We always knew the beast was coming. God told us all about it. Obama is the beast’s useful idiot; he is the one who will prepare the way for the Antichrist’s (false Christ’s) appearance much the way John the Baptist prepared the way for the TRUE Messiah’s coming.

    Watching America make these choices feels much like it would feel to watch one’s own daughter make disastrous moral choices that will destroy her future. You’re watching something you dearly love and would do anything for destroy itself with wickedness. But I was never just a citizen of America; and Jesus won’t ever embrace wickedness on us!

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