After the devastating damage caused by the imposition of the oil drilling moratorium in the deep waters of the Gulf of Mexico after the BP (NYSE:BP) oil spill, U.S. Interior Secretary Kenneth Salazar has asked via his lawyers that U.S. District Judge Martin Feldman throw out the suit because it's irrelevant now that the Obama administration has lifted it.
In a court filing, Ignacia Moreno, an assistant attorney general in the Justice Department’s environmental division, said this: "The secretary’s termination of the suspensions under the July directive has eradicated the effects of the alleged violations by providing plaintiff with the relief it was seeking. The termination directive has mooted plaintiff’s claims."
I wonder how it has eradicated the effects of the devastation while the moratorium was in effect? It's about as ignorant a statement I've ever heard from a lawyer in my life.
That's like saying I've torn up your property over the last three months, but since I'm no longer doing it, the lawsuit your filed against me should be thrown out because it is no longer doing you any harm. Guess what? The victim still has to pay to get the property restored, and that's why the lawsuit against the administration needs to be allowed to continue by the judge.
It's arguable as to whether or not the moratorium has been lifted besides in word, as new regulations basically keep it in place, and companies probably won't start drilling again for at least a month, and probably much longer.
That's why Salazar lifted the moratorium, in an attempt to secure a little political capital going into the election season, as it would have been able to be used by several people running for office in the Gulf states against their Democrat opponents; although I'm sure they'll bring it up anyway, although some Democrats from the Gulf states did oppose the oil moratorium as well.
So we have the moratorium lifted but no drilling allowed to be performed in the Gulf at this time. That means the moratorium never had any relevancy, and the arrogance of Salazar and the Obama administration in imposing the moratorium after it was rejected by the judge, shows the bizarre length they'll go to force their will on the American people.
Hopefully the judge will allow the lawsuit to go forward so we can be reminded of what the Obama administration did, and maybe end up having to pay for their deeds.
Showing posts with label BP Obama. Show all posts
Showing posts with label BP Obama. Show all posts
Thursday, October 14, 2010
Wednesday, October 13, 2010
Offshore Drilling Soaring Even with BP (NYSE:BP) Oil Spill
The report released today by the International Energy Agency confirms what many suspected, that offshore drilling in the world continues to grow in spite of the BP (NYSE:BP) oil spill, as demand for the black gold continues to rise.
With the response from the Obama administration in the U.S., they will probably be the only country producing less oil, with an estimated loss of 60,000 barrels a day in 2010, growing to about 100,000 barrels a day less in 2011, said the IEA.
Other areas of the world won't have lower production, as the agency said they don't "foresee any significant impact on production elsewhere.”
Actually offshore drilling is really only just getting started as onshore oil fields get harder to find. Many countries are just starting to get their offshore exploration deal going, which promises much more oil in the future.
The problem in the past was being able to see through the salt on the ocean floor to find the oil and gas. New technology now allows them to get past that former obstacle.
With the response from the Obama administration in the U.S., they will probably be the only country producing less oil, with an estimated loss of 60,000 barrels a day in 2010, growing to about 100,000 barrels a day less in 2011, said the IEA.
Other areas of the world won't have lower production, as the agency said they don't "foresee any significant impact on production elsewhere.”
Actually offshore drilling is really only just getting started as onshore oil fields get harder to find. Many countries are just starting to get their offshore exploration deal going, which promises much more oil in the future.
The problem in the past was being able to see through the salt on the ocean floor to find the oil and gas. New technology now allows them to get past that former obstacle.
Thursday, October 7, 2010
WH Takes on Response to BP (NYSE:BP) Oil Spill Report by Oil Spill Commission
The pot was stirred up Wednesday when an extremely critical report on how the Obama administration responded to the BP (NYSE:BP) oil spill was released by the Oil Spill Commission studying the matter.
Several of the more damning conclusions concerned the amount of oil left in the ocean, obstructing the release of worst case scenarios concerning the spill, and too much optimism from the White House, which may have resulted in being detrimental to the response effort by slowing down the speed and size of the operation.
Possibly the most odd of the charges were in reference to the "vast majority" of the oil from the spill having left the ocean.
Even though that may have been communicated poorly by Carole Browner, the further clarification from NOAA Administrator Jane Lubchenco took care of it.
She said, “The vast majority of the oil from the BP oil spill has either evaporated or been burned, skimmed, recovered from the wellhead or dispersed much of which is in the process of being degraded. A significant amount of this is the direct result of the robust federal response efforts.”
That remains the official line of the White House, and further testing and investigation hasn't disproved those assertions. As a matter of fact it's some of the so-called independent scientists who have been made to look foolish by saying some gigantic oil plume was roaming the Gulf, when in fact it can't be found by anyone searching for it, and was asserted two months after the fact, making it look like some type of agenda was behind the concept.
The worst case scenario charge that the White House or Office of Management and Budget, was attempting to hinder that from being revealed to the public, was rejected, as they said the modeling used by the NOAA in the worst-case scenario didn't include the impact of oil being collected, skimmed or burned, thus skewing the potential outcomes that would have been presented.
Also recalled was the media appearance of Thad Allen and Interior Secretary Ken Salazar saying the worst-case scenario could reach as high as 100,000 barrels a day released into the Gulf waters.
The overly optimistic charge is a strange one to me as well. How do you measure that? It almost sounds like a radical environmentalist was on the commission that was angry that the spill happened in the first place.
The report even says, that it was “not clear that this misplaced optimism affected any individual response effort.” Why even bring it up then?
Finally, the White House said the report was a draft that hadn't been signed off on by members of the Oil Spill Commission members or chairmen, suggesting why it seems somewhat sloppy in its conclusions.
Now the problem is if a revised version of the report is released that differs a lot from the "draft," most won't believe it, and will believe pressure from the White House altered the findings.
Several of the more damning conclusions concerned the amount of oil left in the ocean, obstructing the release of worst case scenarios concerning the spill, and too much optimism from the White House, which may have resulted in being detrimental to the response effort by slowing down the speed and size of the operation.
Possibly the most odd of the charges were in reference to the "vast majority" of the oil from the spill having left the ocean.
Even though that may have been communicated poorly by Carole Browner, the further clarification from NOAA Administrator Jane Lubchenco took care of it.
She said, “The vast majority of the oil from the BP oil spill has either evaporated or been burned, skimmed, recovered from the wellhead or dispersed much of which is in the process of being degraded. A significant amount of this is the direct result of the robust federal response efforts.”
That remains the official line of the White House, and further testing and investigation hasn't disproved those assertions. As a matter of fact it's some of the so-called independent scientists who have been made to look foolish by saying some gigantic oil plume was roaming the Gulf, when in fact it can't be found by anyone searching for it, and was asserted two months after the fact, making it look like some type of agenda was behind the concept.
The worst case scenario charge that the White House or Office of Management and Budget, was attempting to hinder that from being revealed to the public, was rejected, as they said the modeling used by the NOAA in the worst-case scenario didn't include the impact of oil being collected, skimmed or burned, thus skewing the potential outcomes that would have been presented.
Also recalled was the media appearance of Thad Allen and Interior Secretary Ken Salazar saying the worst-case scenario could reach as high as 100,000 barrels a day released into the Gulf waters.
The overly optimistic charge is a strange one to me as well. How do you measure that? It almost sounds like a radical environmentalist was on the commission that was angry that the spill happened in the first place.
The report even says, that it was “not clear that this misplaced optimism affected any individual response effort.” Why even bring it up then?
Finally, the White House said the report was a draft that hadn't been signed off on by members of the Oil Spill Commission members or chairmen, suggesting why it seems somewhat sloppy in its conclusions.
Now the problem is if a revised version of the report is released that differs a lot from the "draft," most won't believe it, and will believe pressure from the White House altered the findings.
Thursday, September 16, 2010
Pride (NYSE:PDE) CEO Louis Raspino Looks at Zero Risk in Offshore Drilling
Talking at the Barclays Capital (NYSE:BCS) CEO Energy-Power Conference in New York, Pride International Inc (NYSE:PDE) CEO Louis Raspino, said the Obama administration is attempting to get "how close to zero" they can concerning the risks of offshore drilling.
But like the mountaintop removal by coal companies, that's usually another way of saying they're attempting to kill the industry; at least in the Gulf region.
The idea perfection is always an evil one, as it creates the unreachable idea of utopianism, which always ends up being destructive and hurting human beings in one way or the other.
Raspino added, "Quite frankly, the industry has to show the government that it can do a better job than it could do in its last blowout."
While that's not necessarily a bad thing, it's secondary to the ideology behind the proposed changes.
In light of all this, Raspino has predicted there will probably never be a return to the rig count in the Gulf in the future. Welcome to utopia.
But like the mountaintop removal by coal companies, that's usually another way of saying they're attempting to kill the industry; at least in the Gulf region.
The idea perfection is always an evil one, as it creates the unreachable idea of utopianism, which always ends up being destructive and hurting human beings in one way or the other.
Raspino added, "Quite frankly, the industry has to show the government that it can do a better job than it could do in its last blowout."
While that's not necessarily a bad thing, it's secondary to the ideology behind the proposed changes.
In light of all this, Raspino has predicted there will probably never be a return to the rig count in the Gulf in the future. Welcome to utopia.
Monday, September 6, 2010
Impact of BP (NYSE:BP) Assets Sales on the Company
A number of clueless media outlets, mostly mainstream, have castigated BP (NYSE:BP) once again when they recently stated they would struggle to pay their liabilities if they were cut off from new drilling permits and projects in the Gulf of Mexico. The implication was they were blackmailing the country.
This is a completed ignorant assertion and can't even be taken seriously by anyone who understands business.
We have to go back to the promise by the Obama administration that a healthy BP is in the best interests of the country, as they not only provide thousands of jobs, but really would struggle to survive and pay out claims, lawsuits and other liabilities if there aren't new sources of business for them.
For example, they said when their target was at $30 billion to deal with Gulf damages, it would cut their production by 8 percent. That's 8 percent less revenue they would get after the sales were completed.
Now they said over the weekend they're raising their assets sales target to $40 billion, which will raise the loss of production numbers up to about $11 billion, depending on the particular assets sold.
Most people don't understand that every time they sell an asset they lose revenue and profits. All of that goes to unproductive, but necessary, pay outs for damages. The problem is there's a point of no return if they get too weak, and at that time even if they continue to have the will to pay, they won't be able to do it if costs raise to extremely high levels with much less earnings to pay for them.
This is a completed ignorant assertion and can't even be taken seriously by anyone who understands business.
We have to go back to the promise by the Obama administration that a healthy BP is in the best interests of the country, as they not only provide thousands of jobs, but really would struggle to survive and pay out claims, lawsuits and other liabilities if there aren't new sources of business for them.
For example, they said when their target was at $30 billion to deal with Gulf damages, it would cut their production by 8 percent. That's 8 percent less revenue they would get after the sales were completed.
Now they said over the weekend they're raising their assets sales target to $40 billion, which will raise the loss of production numbers up to about $11 billion, depending on the particular assets sold.
Most people don't understand that every time they sell an asset they lose revenue and profits. All of that goes to unproductive, but necessary, pay outs for damages. The problem is there's a point of no return if they get too weak, and at that time even if they continue to have the will to pay, they won't be able to do it if costs raise to extremely high levels with much less earnings to pay for them.
Thursday, August 26, 2010
Obama May Lift Gulf Oil Moratorium Before Elections
In what would be an obvious political move, reports are coming out that Obama may lift the oil ban before its November 30 expiration, with October being the probable date.
The controversial and unpopular moratorium was imposed by the Obama administration for Gulf waters over 500 feet deep after the BP (NYSE:BP) oil spill, even though safety checks from inspectors cleared the remaining oil rigs being operationally safe.
Obama and the Democrats know this is a major issue for a number of regions of the country, and in an economic atmosphere of increasing unemployment, they would get hammered on it; although they still will for forcing on the struggling Gulf states.
While it's being asserted pressure from the states is pushing Obama to end the moratorium early, that's really not the case. What seems to be happening is whether the moratorium is in place or not, delays in drilling could last into the middle of 2011, which makes the idea of a moratorium irrelevant.
If stories are true, the moratorium will be officially lifted, but oil drilling won't be allowed for some time. In other words, it sounds like an outright lie, and there will be an unofficial moratorium in place while leading up to the elections.
While this may seem like it'll placate the governments of the Gulf states, it won't, as they'll see through this and let their people know what's really going on.
How it evidently will work, is new regulations will be put in place that do the same thing as the oil moratorium, and then Obama will lift it to make it look like he and his administration, along with the Democrats, are compromising on the issue, when if fact they're even making it worse than it was.
The controversial and unpopular moratorium was imposed by the Obama administration for Gulf waters over 500 feet deep after the BP (NYSE:BP) oil spill, even though safety checks from inspectors cleared the remaining oil rigs being operationally safe.
Obama and the Democrats know this is a major issue for a number of regions of the country, and in an economic atmosphere of increasing unemployment, they would get hammered on it; although they still will for forcing on the struggling Gulf states.
While it's being asserted pressure from the states is pushing Obama to end the moratorium early, that's really not the case. What seems to be happening is whether the moratorium is in place or not, delays in drilling could last into the middle of 2011, which makes the idea of a moratorium irrelevant.
If stories are true, the moratorium will be officially lifted, but oil drilling won't be allowed for some time. In other words, it sounds like an outright lie, and there will be an unofficial moratorium in place while leading up to the elections.
While this may seem like it'll placate the governments of the Gulf states, it won't, as they'll see through this and let their people know what's really going on.
How it evidently will work, is new regulations will be put in place that do the same thing as the oil moratorium, and then Obama will lift it to make it look like he and his administration, along with the Democrats, are compromising on the issue, when if fact they're even making it worse than it was.
Wednesday, August 25, 2010
BHP (NYSE:BHP) Takes $59 Million Charge on Moratorium
BHP Billiton Ltd. (NYSE:BHP) acknowledged today they took a $59 million charge against its yearly results from the imposition of the oil drilling moratorium by the Obama administration.
After the BP (NYSE:BP) oil spill, BHP said they had to stop drilling on their Atlantis and Shenzi projects in the Gulf during the quarter ending in June.
The overall petroleum unit of BHP generated $4.58 billion for the year for the quarter ending June 30, a gain up 12 percent year-over-year.
BHP executives said, "BHP Billiton continues to monitor and assess the impact of the six month suspension of certain permitting and drilling activities."
After the BP (NYSE:BP) oil spill, BHP said they had to stop drilling on their Atlantis and Shenzi projects in the Gulf during the quarter ending in June.
The overall petroleum unit of BHP generated $4.58 billion for the year for the quarter ending June 30, a gain up 12 percent year-over-year.
BHP executives said, "BHP Billiton continues to monitor and assess the impact of the six month suspension of certain permitting and drilling activities."
Monday, August 23, 2010
BP (NYSE:BP), Government Relationship Too Cozy?
Now that people have time to sit back and digest the overall scenario surrounding the BP (NYSE:BP), some are raising questions as to whether or not the relationship between BP and the U.S. government was too cozy.
Others feel like the government should have been much tougher on them, but I don't see how that could have constructively helped in any way.
The time for toughness is later when things are settled down and the disaster under control. To attack and bully when people are attempting to take care of the issue makes no sense whatsoever.
Who was going to stop the flow of oil other than BP, and who could afford to do that other than a very small number of companies in the world.
The idea of the government using taxpayer dollars when taxpayers are already outraged over out-of-control government spending wasn't an option.
As far as communication, how could that happen unless they were close enough to communicate immediately concerning conditions as they unfolded?
If BP, and possibly others, are to pay for the mess, the only way they can do it is if they survive. Insurance money wouldn't cover it, and if they were pushed too hard they could go the bankruptcy route, and everyone would have lost.
This is simply one of those times where the accident demanded the circumstances to be what they were, and the closeness between the U.S. government and BP a necessity.
Even now when people are question the $20 billion escrow fund to pay claimants, questions are being raised as to the parameters included with it. But BP doesn't have a central bank like the government, where they can print money and have generations of the future hopefully be able to pay for it.
There are limits, and those limits demand parameters. There's no way of getting around that; at least if we want BP to be able to pay as much as possible and take care of those directly related to the incident.
Others feel like the government should have been much tougher on them, but I don't see how that could have constructively helped in any way.
The time for toughness is later when things are settled down and the disaster under control. To attack and bully when people are attempting to take care of the issue makes no sense whatsoever.
Who was going to stop the flow of oil other than BP, and who could afford to do that other than a very small number of companies in the world.
The idea of the government using taxpayer dollars when taxpayers are already outraged over out-of-control government spending wasn't an option.
As far as communication, how could that happen unless they were close enough to communicate immediately concerning conditions as they unfolded?
If BP, and possibly others, are to pay for the mess, the only way they can do it is if they survive. Insurance money wouldn't cover it, and if they were pushed too hard they could go the bankruptcy route, and everyone would have lost.
This is simply one of those times where the accident demanded the circumstances to be what they were, and the closeness between the U.S. government and BP a necessity.
Even now when people are question the $20 billion escrow fund to pay claimants, questions are being raised as to the parameters included with it. But BP doesn't have a central bank like the government, where they can print money and have generations of the future hopefully be able to pay for it.
There are limits, and those limits demand parameters. There's no way of getting around that; at least if we want BP to be able to pay as much as possible and take care of those directly related to the incident.
Wednesday, August 18, 2010
Obama Administration Puppet for BP (NYSE:BP) Says Spike Lee
In an effective strategy for getting attention, filmmaker Spike Lee said in an interview last night that the Obama Administration is a puppet of BP (NYSE:BP).
Lee is marketing a documentary he put together called, "If God Is Willing and Da Creek Don't Rise," which debuts on HBO on August 23.
Here's what Lee said in the interview about the Obama administration:
"... I feel — and a lot of those people feel down here — that BP was dictating [to] the United States government what to do. BP dictated [to] the FAA who could fly over the site. BP dictated to the Coast Guard and Thad Allen which boats can come and go. And BP dictated [to] the EPA — the EPA sent a letter to BP saying we have serious concerns about your dispersant, Corexit. They sent back [one] saying, we're going to use it anyway. So BP's been running things."
Lee asserts it's greed which caused the incident: "We have people in office appointed and voted in and people in big business positions who only care about the dollar bill, and there are people [who] get harmed, people [who] die. They say that's the cost of doing business."
Obviously this will be another anti-business rant by Lee, but he does know how to garner attention.
Lee is marketing a documentary he put together called, "If God Is Willing and Da Creek Don't Rise," which debuts on HBO on August 23.
Here's what Lee said in the interview about the Obama administration:
"... I feel — and a lot of those people feel down here — that BP was dictating [to] the United States government what to do. BP dictated [to] the FAA who could fly over the site. BP dictated to the Coast Guard and Thad Allen which boats can come and go. And BP dictated [to] the EPA — the EPA sent a letter to BP saying we have serious concerns about your dispersant, Corexit. They sent back [one] saying, we're going to use it anyway. So BP's been running things."
Lee asserts it's greed which caused the incident: "We have people in office appointed and voted in and people in big business positions who only care about the dollar bill, and there are people [who] get harmed, people [who] die. They say that's the cost of doing business."
Obviously this will be another anti-business rant by Lee, but he does know how to garner attention.
Monday, August 16, 2010
Obama Uses Publicity Stunt with Daughter to Counter His BP (NYSE:BP) Mistake
His inaccurate remarks resulted in the loss in millions of money from tourists who usually flock to the Gulf region in summer months.
What Obama did was take his daughter and presumably went swimming in the waters of the Gulf of Mexico, and had a staff photographer take a photo of the event in order to give the appearance that travelling to the Gulf and vacationing there was completely safe, and that they were open for business again.
His remarks make it look like the many beaches in the area would be covered with oil, which later on were proven to be unfounded. There was of course some oil found, but nowhere close to the extent asserted by Obama, but by then was too late.
Now with most children back in school and the summer vacation season largely over, this is too little, too late, to have any effect this year.
Thursday, August 12, 2010
"Public Citizen" Group Opposes BP (NYSE:BP), Government Partnership
Fears a deal to use U.S. oil and natural gas production as collateral for the $20 billion escrow fund by BP (NYSE:BP) has one advocacy group up in arms about potential conflicts of interest in the relationship of BP and the U.S. government.
A new BP subsidiary is being created in order to place production payments from the oil and gas wells worked by BP in Gulf waters.
The escrow fund will have first priority on the security interests in the oil and gas production coming from the wells. Revenue from the wells will be used as collateral in relationship to the fund.
Public Citizen advocacy group sent a letter to Obama saying this:
"A criminal investigation resulting in sanctions imposed against BP - including banning the company from federal leases in the Gulf - will be at odds with the government's agreement to use BP's leases as collateral for the fund."
"The administration might be less likely to address those problems if it means the company can't continue its profitable business-as-usual style," referring to worker safety and environmental record of BP.
The group is frustrated that BP will have what they call a "robust presence in offshore drilling," even with their alleged poor record.
Even if the pressure ramps up on the Obama administration concerning this, it won't matter. BP will continue drilling in the Gulf, and even the idea they were going to be cut back somehow in wake of what happened is naive at best, as if the company were to fail, there would be no payments related to damage and claims made by the oil giant.
Of course the company must continue to operate in a profitable business-as-usual style, as that's what business is. But to think they were going to become some type of non-profit organization, operationally, isn't ever going to happen.
This doesn't mean issues aren't to be addressed, but they can't be addressed unless there's a viable and profitable business to address them.
One thing that is correct, is the lines between government and business should not ever be blurred, and any time that happens, bad things can happen.
A new BP subsidiary is being created in order to place production payments from the oil and gas wells worked by BP in Gulf waters.
The escrow fund will have first priority on the security interests in the oil and gas production coming from the wells. Revenue from the wells will be used as collateral in relationship to the fund.
Public Citizen advocacy group sent a letter to Obama saying this:
"A criminal investigation resulting in sanctions imposed against BP - including banning the company from federal leases in the Gulf - will be at odds with the government's agreement to use BP's leases as collateral for the fund."
"The administration might be less likely to address those problems if it means the company can't continue its profitable business-as-usual style," referring to worker safety and environmental record of BP.
The group is frustrated that BP will have what they call a "robust presence in offshore drilling," even with their alleged poor record.
Even if the pressure ramps up on the Obama administration concerning this, it won't matter. BP will continue drilling in the Gulf, and even the idea they were going to be cut back somehow in wake of what happened is naive at best, as if the company were to fail, there would be no payments related to damage and claims made by the oil giant.
Of course the company must continue to operate in a profitable business-as-usual style, as that's what business is. But to think they were going to become some type of non-profit organization, operationally, isn't ever going to happen.
This doesn't mean issues aren't to be addressed, but they can't be addressed unless there's a viable and profitable business to address them.
One thing that is correct, is the lines between government and business should not ever be blurred, and any time that happens, bad things can happen.
Monday, August 2, 2010
9,000 Victims of Obama Moratorium Eligible for BP Fund
As many as 9,000 victims of the Gulf oil moratorium imposed by the Obama administration will be eligible to receive money from a $100 million fund set aside by BP (NYSE:BP).
Those figures come from the charity BP has chosen to run the fund.
Don't confuse this fund with the $20 billion escrow fund set aside over the next four years by BP to pay for claims related to the oil spill. The parameters of this are only those affected by the oil moratorium.
Applications for the funds can be made from September 1 to September 30 from the Baton Rouge Area Foundation. Workers will receive checks from the charity starting in October.
The process of determining how much money an applicant will be based on comparisons between applications, where the payout could be from $3,000 to $30,000.
There is no reason for BP to be paying money to victims of the Obama moratorium. This sets a dangerous precedent in regard to government officials making decisions and passing the bill onto businesses.
BP should of course pay for everything that has been damaged. The oil moratorium isn't one of them, and was a political decision the Obama administration is covering their tracks with by passing the charges onto BP, which is afraid to resist them because of the potential public backlash.
Those figures come from the charity BP has chosen to run the fund.
Don't confuse this fund with the $20 billion escrow fund set aside over the next four years by BP to pay for claims related to the oil spill. The parameters of this are only those affected by the oil moratorium.
Applications for the funds can be made from September 1 to September 30 from the Baton Rouge Area Foundation. Workers will receive checks from the charity starting in October.
The process of determining how much money an applicant will be based on comparisons between applications, where the payout could be from $3,000 to $30,000.
There is no reason for BP to be paying money to victims of the Obama moratorium. This sets a dangerous precedent in regard to government officials making decisions and passing the bill onto businesses.
BP should of course pay for everything that has been damaged. The oil moratorium isn't one of them, and was a political decision the Obama administration is covering their tracks with by passing the charges onto BP, which is afraid to resist them because of the potential public backlash.
Thursday, July 29, 2010
Obama Administraton Holding Up BP (NYSE:BP) Paying Claimants?
Kenneth Feinberg seemed somewhat frustrated when talking about the implementation of the BP (NYSE:BP) escrow fund.
When asked about payment delays of claims and when things would be up and running, Feinberg said, "The first check is delayed into August. Not because of my apparatus -- my apparatus could be up and running Aug. 6. It's the escrow fund."
On Wednesday, when an official from the Obama administration spoke about the escrow fund, he said that "is still on track, and we expect it to be finalized soon." He refused to give reasons as to what was causing the delay.
Note in both of these circumstances there wasn't a shot taken at BP for some type of delaying tactics from the government or Feinberg. That in itself suggests a government side to the problem.
A spokesman from BP also said earlier this week that the company was waiting for the finalization of the escrow fund before funding it, implying it was the Obama administration that was holding things up.
Feinberg also seems to be out of the loop on the reasonings behind the delay, only saying the process of distributing fund to claimants was delayed because of BP not putting money into it. He made no mention as to why the money wasn't being put in.
The knee-jerk reaction was to blame BP, but as the story unfolds, it appears to be something on the side of the Obama administration that is keeping individuals and businesses from receiving their money.
That's besides the outrageous moratorium on drilling in the Gulf of Mexico by the Obama administration, which is costing thousands of jobs in the region.
When asked about payment delays of claims and when things would be up and running, Feinberg said, "The first check is delayed into August. Not because of my apparatus -- my apparatus could be up and running Aug. 6. It's the escrow fund."
On Wednesday, when an official from the Obama administration spoke about the escrow fund, he said that "is still on track, and we expect it to be finalized soon." He refused to give reasons as to what was causing the delay.
Note in both of these circumstances there wasn't a shot taken at BP for some type of delaying tactics from the government or Feinberg. That in itself suggests a government side to the problem.
A spokesman from BP also said earlier this week that the company was waiting for the finalization of the escrow fund before funding it, implying it was the Obama administration that was holding things up.
Feinberg also seems to be out of the loop on the reasonings behind the delay, only saying the process of distributing fund to claimants was delayed because of BP not putting money into it. He made no mention as to why the money wasn't being put in.
The knee-jerk reaction was to blame BP, but as the story unfolds, it appears to be something on the side of the Obama administration that is keeping individuals and businesses from receiving their money.
That's besides the outrageous moratorium on drilling in the Gulf of Mexico by the Obama administration, which is costing thousands of jobs in the region.
Thursday, June 24, 2010
Judge Rejects Obama Request for Moratorium Stay
The decision by Barack Obama to place a six-month moratorium on deepwater drilling in the Gulf of Mexico was rejected by U.S. District Judge Martin Feldman, resulting in an immediate appeal from the administration.
On Thursday, Judge Feldman rejected the appeal, saying he won't change his decision to block the administration from imposing the ban.
The next step for Obama would be to request the U.S. Court of Appeals for the Fifth Circuit for a stay.
According to the Judge, the decision to ban drilling in the Gulf of Mexico was too arbitrary and all-encompassing, and didn't include the results of inspections by the government which said there were no major problems on the other rigs in the Gulf.
Taking all that into account, Judge Feldman removed the ban, and as of today, keeps his decision in place.
On Thursday, Judge Feldman rejected the appeal, saying he won't change his decision to block the administration from imposing the ban.
The next step for Obama would be to request the U.S. Court of Appeals for the Fifth Circuit for a stay.
According to the Judge, the decision to ban drilling in the Gulf of Mexico was too arbitrary and all-encompassing, and didn't include the results of inspections by the government which said there were no major problems on the other rigs in the Gulf.
Taking all that into account, Judge Feldman removed the ban, and as of today, keeps his decision in place.
Obama's BP (NYSE:BP) Oil Spill Mistakes
Obama should have consulted with Ron Paul before attempting to do too much in the Gulf of Mexico, as then he would have kept himself from making too many mistakes.
It's too bad Obama didn't heed his initial thoughts and keep clear of the BP (NYSE:BP) oil spill than he has, as the pressure from the wacky progressive base he has, resulted in one mistake after another in handling the Gulf disaster.
The first mistake was one of omission, where he refused to waive the Jones Act, which forbids foreign vessels from working in U.S. waters. This was an incredibly foolish thing to do, and it was done just to cater to his union base.
If he had allowed the foreign skimmers in, the amount of oil that could have been removed from the Gulf of Mexico would have been enormous, and we may not even be close to having the problems we are having today as a consequence of that inaction.
At the beginning I believe Obama was doing the right thing in calmly watching the situation. But that wasn't enough for his supporters, who pressured him to show some anger, and once he started that, he generated a diplomatic row with Britain that still hasn't been resolved, and left a bad taste in the majority of Americans' mouths for acting the bully.
The decision to keep berms from being built to protect the Louisiana coastline was another enormous error, although it was obviously retracted and the berms were started to be built.
But as of Wednesday, the U.S. Fish and Wildlife division halted some of that in the name of some environmental nonsense, as if the oil filling the coastlines of Louisiana aren't an environmental crisis. This is the same type of idiocy that kept the berms from being built in the first place.
And the shutting down of barges being used to siphon oil from near the coast of Louisiana in order to check for fire extinguishers and life jackets for over 24 hours was another look into Obama not having a handle on things.
The worst of it all though was the imposition of a moratorium which is doing more to harm the Gulf region in relationship to jobs than the oil spill itself.
Ron Paul said about that, "Many have criticized the federal government in the past weeks for not doing enough. The reality is there is only so much government can do to help, yet a lot they can do to prolong the problem and misdirect the pain. For example, in the interest of 'doing something' the administration has enacted a unilateral ban on offshore drilling. This is counterproductive. I am proud to cosponsor legislation to lift that ban. Why punish other oil companies and their hard-working employees who had nothing to do with this disaster, and who have better safety records?."
As Ron Paul says, the best thing in times like these is for government to get out of the way and let those who know what to do - do it.
It's too bad Obama didn't heed his initial thoughts and keep clear of the BP (NYSE:BP) oil spill than he has, as the pressure from the wacky progressive base he has, resulted in one mistake after another in handling the Gulf disaster.
The first mistake was one of omission, where he refused to waive the Jones Act, which forbids foreign vessels from working in U.S. waters. This was an incredibly foolish thing to do, and it was done just to cater to his union base.
If he had allowed the foreign skimmers in, the amount of oil that could have been removed from the Gulf of Mexico would have been enormous, and we may not even be close to having the problems we are having today as a consequence of that inaction.
At the beginning I believe Obama was doing the right thing in calmly watching the situation. But that wasn't enough for his supporters, who pressured him to show some anger, and once he started that, he generated a diplomatic row with Britain that still hasn't been resolved, and left a bad taste in the majority of Americans' mouths for acting the bully.
The decision to keep berms from being built to protect the Louisiana coastline was another enormous error, although it was obviously retracted and the berms were started to be built.
But as of Wednesday, the U.S. Fish and Wildlife division halted some of that in the name of some environmental nonsense, as if the oil filling the coastlines of Louisiana aren't an environmental crisis. This is the same type of idiocy that kept the berms from being built in the first place.
And the shutting down of barges being used to siphon oil from near the coast of Louisiana in order to check for fire extinguishers and life jackets for over 24 hours was another look into Obama not having a handle on things.
The worst of it all though was the imposition of a moratorium which is doing more to harm the Gulf region in relationship to jobs than the oil spill itself.
Ron Paul said about that, "Many have criticized the federal government in the past weeks for not doing enough. The reality is there is only so much government can do to help, yet a lot they can do to prolong the problem and misdirect the pain. For example, in the interest of 'doing something' the administration has enacted a unilateral ban on offshore drilling. This is counterproductive. I am proud to cosponsor legislation to lift that ban. Why punish other oil companies and their hard-working employees who had nothing to do with this disaster, and who have better safety records?."
As Ron Paul says, the best thing in times like these is for government to get out of the way and let those who know what to do - do it.
Wednesday, June 23, 2010
Feds Shut Down Sand Berm Efforts: Louisiana Coastline Vulnerable
The incredible ineptness of Obama and the federal government continues to astound, as they have halted the dredging of the Louisiana coastline which was being done to build sand berms to protect them from oil permeating the area.
Since these decisions make no sense, it needs to be investigated whether or not this is being based on ideologies of radical environmentalists which may have infiltrated the U.S. Fish and Wildlife Department, which made the decision.
In a letter to Obama, Plaquemines Parish President Billy Nungesser, said this about halting the effort: "Once again, our government resource agencies, which are intended to protect us, are now leaving us vulnerable to the destruction of our coastline and marshes by the impending oil."
There needs to be an investigation into what is happening here, and why these type of outrageous decisions are being made. The federal government opposed the sand berms in the first place, finally giving in as pressure mounted to get the job done.
The idiotic statement was made that the berms could harm other parts of the environment. How stupid can people get? Of course they're government employees, so it's understandable.
In other words, let's allow the oil to come to wreck the environment, so we don't wreck the environment with sand berms. That's the reasoning, and the Obama administration needs to relieve these people of their duties and positions and start investigating why these outrages continue.
That is of course, unless Obama and the Democrats back these criminal actions.
Since these decisions make no sense, it needs to be investigated whether or not this is being based on ideologies of radical environmentalists which may have infiltrated the U.S. Fish and Wildlife Department, which made the decision.
In a letter to Obama, Plaquemines Parish President Billy Nungesser, said this about halting the effort: "Once again, our government resource agencies, which are intended to protect us, are now leaving us vulnerable to the destruction of our coastline and marshes by the impending oil."
There needs to be an investigation into what is happening here, and why these type of outrageous decisions are being made. The federal government opposed the sand berms in the first place, finally giving in as pressure mounted to get the job done.
The idiotic statement was made that the berms could harm other parts of the environment. How stupid can people get? Of course they're government employees, so it's understandable.
In other words, let's allow the oil to come to wreck the environment, so we don't wreck the environment with sand berms. That's the reasoning, and the Obama administration needs to relieve these people of their duties and positions and start investigating why these outrages continue.
That is of course, unless Obama and the Democrats back these criminal actions.
UK, American Tensions Mount over BP (NYSE:BP)
Tensions are still seething below the surface over the inflammatory language used by Obama and his administration over the BP (NYSE:BP) oil spill.
British Prime Minister David Cameron and Obama will hold a bilateral meeting at the G8/G20 summit in Canada, signaling the pressure Cameron is under, who has been considered too soft on Obama when he was trashing the company, identifying it as British Petroleum, years after it shedded that name after becoming a multi-national oil company.
That made it highly personal for the British people, who took it as British-bashing and not anything constructive to handle the actual problem.
Cameron said, "BP itself wants to pay for the clean up. It wants to stop the gushing of oil into the Gulf. But we do want to make sure that it remains a strong and stable company for our benefits, but also for the benefits of the United States."
"It is in all our interests that this company is strong and secure," he added.
The British increasingly feel Obama has been far too harsh on BP, and in fact has needlessly added diplomatic tensions that never needed to be part of the picture.
Obama chastised the oil companies early in the process for pointing fingers at one another, yet he has in fact did the same thing with BP, by pointing the finger at the British, while giving the other oil companies involved a free ride.
British Prime Minister David Cameron and Obama will hold a bilateral meeting at the G8/G20 summit in Canada, signaling the pressure Cameron is under, who has been considered too soft on Obama when he was trashing the company, identifying it as British Petroleum, years after it shedded that name after becoming a multi-national oil company.
That made it highly personal for the British people, who took it as British-bashing and not anything constructive to handle the actual problem.
Cameron said, "BP itself wants to pay for the clean up. It wants to stop the gushing of oil into the Gulf. But we do want to make sure that it remains a strong and stable company for our benefits, but also for the benefits of the United States."
"It is in all our interests that this company is strong and secure," he added.
The British increasingly feel Obama has been far too harsh on BP, and in fact has needlessly added diplomatic tensions that never needed to be part of the picture.
Obama chastised the oil companies early in the process for pointing fingers at one another, yet he has in fact did the same thing with BP, by pointing the finger at the British, while giving the other oil companies involved a free ride.
Tuesday, June 22, 2010
BP (NYSE:BP) Captures 320,000 Barrels of Oil So Far
Since BP (NYSE:BP) successfully put a containment cap on the oil well in the Gulf of Mexico, they've been able to keep 320,000 barrels of oil from spilling into the region, most of that from collecting an reselling it, but some from burning it off or flaring it, once the second ship brought into the area was put into action, which isn't able to collect or process the oil and gas, so must burn it.
With Obama under fire for golfing while the Gulf oil spill continues to spew, and BP CEO Tony Hayward for taking brief respite in order to watch a yacht race, the impression no one is in charge continues.
New concerns are concerning the upcoming hurricane season, which according to some scientists could have three major storms hit the Gulf, as the upwardly revised the number of storms for the season, increasing the odds of some of them hitting the area.
BP is reportedly preparing for that eventuality by getting ready to place a better quality containment cap on the oil spill, where it can hold more oil, while also allowing ships to detach and go to safety if they are hit hard by a storm.
Yesterday BP was able to recover a record 25,830 barrels of oil, with a goal of bringing that to at least 50,000 a day if it is needed.
With Obama under fire for golfing while the Gulf oil spill continues to spew, and BP CEO Tony Hayward for taking brief respite in order to watch a yacht race, the impression no one is in charge continues.
New concerns are concerning the upcoming hurricane season, which according to some scientists could have three major storms hit the Gulf, as the upwardly revised the number of storms for the season, increasing the odds of some of them hitting the area.
BP is reportedly preparing for that eventuality by getting ready to place a better quality containment cap on the oil spill, where it can hold more oil, while also allowing ships to detach and go to safety if they are hit hard by a storm.
Yesterday BP was able to recover a record 25,830 barrels of oil, with a goal of bringing that to at least 50,000 a day if it is needed.
Judge May Lift Obama Gulf Oil Moratorium
If the question asked by U.S. District Judge Martin Feldman is a guide going forward, the six-month moratorium on oil could be lifted as early as Wednesday.
The moratorium covers the 33 existing well searching for oil in the Gulf, as well as suspending any new drilling permits being awarded in the region.
Feldom queried a government lawyer concerning why this time there was an oil spill there was a suspension of deep-water drilling, when in the case of the Exxon Valdez there wasn't a ban on other oil tankers transporting the oil, as well as in other industrial accidents which could have resulted in similar orders.
The judge is presiding over a lawsuit filed by Hornbeck Offshore Services of Covington, La., which claims Obama and his administration took the extraordinary steps without any proof the remaining drilling posed a threat in any way.
Actually, almost all of them were cleared of any problems after being checked, yet remain under the moratorium.
According to the Hornbeck lawsuit, the moratorium will probably cost the area millions of dollars in lost wages, along with thousands of jobs.
The judge will make a ruling on Wednesday on whether to lift the moratorium or not.
The moratorium covers the 33 existing well searching for oil in the Gulf, as well as suspending any new drilling permits being awarded in the region.
Feldom queried a government lawyer concerning why this time there was an oil spill there was a suspension of deep-water drilling, when in the case of the Exxon Valdez there wasn't a ban on other oil tankers transporting the oil, as well as in other industrial accidents which could have resulted in similar orders.
The judge is presiding over a lawsuit filed by Hornbeck Offshore Services of Covington, La., which claims Obama and his administration took the extraordinary steps without any proof the remaining drilling posed a threat in any way.
Actually, almost all of them were cleared of any problems after being checked, yet remain under the moratorium.
According to the Hornbeck lawsuit, the moratorium will probably cost the area millions of dollars in lost wages, along with thousands of jobs.
The judge will make a ruling on Wednesday on whether to lift the moratorium or not.
Monday, June 21, 2010
Obama Golfing, Attending Baseball Games - Oil Still Leaking
BP (NYSE:BP) CEO Tony Hayward took some flak for going to a yachting event, while Obama was out golfing and taking in a baseball game. During that time, the oil just keeps flowing into the Gulf of Mexico.
Obama has taken a lot of criticism for his ineptness in handling the Gulf, and his time at the Golf course and Major League baseball game gives the impression he's hardhearted and cold, as Gulf residents continue to suffer.
Hayward was backed by BP on this one, as spokesman Robert Wine reminded people this was the first break he's had since the explosion on the Deepwater Horizon oil rig on April 20.
Obama on the other hand is viewed as doing little or nothing, and the idea he pressured BP to pay out $20 billion over a four-year period seems to be the conclusion of his work in his own eyes, evidently exhausting him after finally spending a few days thinking about the Gulf and the oil flowing into it.
All the press pool had to say was to report Obama left for the golf course with Joe Biden close to 1 p.m., and came back at about 6 p.m. Wow, what reporting and insight.
What about his commitment to the Gulf? What about the people suffering in the Gulf while he hits the little ball and watches the little ball thrown at a baseball game?
One business owner in the Gulf region said, "I don't think he has any feelings," speaking of Hayward. "If I was in his position, I think I'd be in a more responsible place. I think he should be with someone out trying to plug the leak."
The same assumption and conclusion must be made about Barack Obama as well, as the buck supposedly stops with him, and if that's the case, it's increasingly bad news for America.
Obama has taken a lot of criticism for his ineptness in handling the Gulf, and his time at the Golf course and Major League baseball game gives the impression he's hardhearted and cold, as Gulf residents continue to suffer.
Hayward was backed by BP on this one, as spokesman Robert Wine reminded people this was the first break he's had since the explosion on the Deepwater Horizon oil rig on April 20.
Obama on the other hand is viewed as doing little or nothing, and the idea he pressured BP to pay out $20 billion over a four-year period seems to be the conclusion of his work in his own eyes, evidently exhausting him after finally spending a few days thinking about the Gulf and the oil flowing into it.
All the press pool had to say was to report Obama left for the golf course with Joe Biden close to 1 p.m., and came back at about 6 p.m. Wow, what reporting and insight.
What about his commitment to the Gulf? What about the people suffering in the Gulf while he hits the little ball and watches the little ball thrown at a baseball game?
One business owner in the Gulf region said, "I don't think he has any feelings," speaking of Hayward. "If I was in his position, I think I'd be in a more responsible place. I think he should be with someone out trying to plug the leak."
The same assumption and conclusion must be made about Barack Obama as well, as the buck supposedly stops with him, and if that's the case, it's increasingly bad news for America.
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