New York Times analysis: Risk is Clear in Drilling; Payoff isn't

[brentspeak]

A polite headline-way of saying Obama is clueless on this

http://www.nytimes.com/2010/04/01/business/energy-environment/01drill.html

News Analysis
Risk Is Clear in Drilling; Payoff Isn’t
By JOHN M. BRODER and CLIFFORD KRAUSS
Published: March 31, 2010

WASHINGTON — In proposing a major expansion of offshore oil and gas development, President Obama set out to fashion a carefully balanced plan that would attract bipartisan support for climate and energy legislation while increasing production of domestic oil.

It is not clear that the plan announced Wednesday will do either.

While the oil industry, business groups and some Republicans offered muted support for the proposal, most environmental groups denounced it. And the senators whose support Mr. Obama is courting for highly contentious climate and energy legislation to be introduced in the coming weeks gave decidedly mixed reactions: For every senator who praised it as at least a partial answer to the nation’s energy needs, another raised alarms about befouled beaches and continued dependence on fossil fuels.

Even Mr. Obama sounded somewhat torn in announcing a drilling plan that would open large tracts of the Atlantic coast, the eastern Gulf of Mexico and Arctic waters off Alaska to oil exploration and eventual drilling.

[Cleobulus]

1. Simply put, the best estimates on oil production in those areas do not make it worth...

it to even attempt to drill at this time. The oil companies probably want to wait until oil hits 500 dollars a barrel or more before even attempting it, otherwise they will most likely lose money setting up for the drilling.

[karynnj]

2. Which suggest that the payoff (votes) if there are any, is worth is as there is likely no downside

if in reality it will not lead to any drilling.

[Cleobulus]

3. Exactly, of course, if it does lead to drilling, then it was a fuckup.

If Obama is proposing anything to materially support drilling, such as tax breaks or subsidies, then that will be a royal fuckup of epic proportions that I would oppose.

[zulchzulu]

4. We can look at how the oil and natural gas companies drilled in all the open permit leased areas

Oh wait.

They fucking didn't.

:crazy:

I love how these tic-tac-toe players show up to play chess... dumb asses...