Obama surrenders gulf oil to Moscow

Discussion in 'Economics' started by unretired, Mar 18, 2010.

  1. http://washingtontimes.com/news/2010/mar/18/obama-surrenders-gulf-oil-to-moscow/

    EDITORIAL: Obama surrenders gulf oil to Moscow

    The Russians are coming - to drill in our own backyard


    The Obama administration is poised to ban offshore oil drilling on the outer continental shelf until 2012 or beyond. Meanwhile, Russia is making a bold strategic leap to begin drilling for oil in the Gulf of Mexico. While the United States attempts to shift gears to alternative fuels to battle the purported evils of carbon emissions, Russia will erect oil derricks off the Cuban coast.

    Offshore oil production makes economic sense. It creates jobs and helps fulfill America's vast energy needs. It contributes to the gross domestic product and does not increase the trade deficit. Higher oil supply helps keep a lid on rising prices, and greater American production gives the United States more influence over the global market.

    Drilling is also wildly popular with the public. A Pew Research Center poll from February showed 63 percent support for offshore drilling for oil and natural gas. Americans understand the fundamental points: The oil is there, and we need it. If we don't drill it out, we have to buy it from other countries. Last year, the U.S. government even helped Brazil underwrite offshore drilling in the Tupi oil field near Rio de Janeiro. The current price of oil makes drilling economically feasible, so why not let the private sector go ahead and get our oil?

    The Obama administration, however, views energy policy through green eyeshades. Every aspect of its approach to energy is subordinated to radical environmental concerns. This unprecedented lack of balance is placing offshore oil resources off-limits. The O Force would prefer the country shift its energy production to alternative sources, such as nuclear, solar and wind power. In theory, there's nothing wrong with that, in the long run, assuming technology can catch up to demand. But we have not yet reached the green utopia, we won't get there anytime soon, and America needs more oil now.

    Russia more sensibly views energy primarily as a strategic resource. Energy is critical to Russia's economy, as fuel and as a source of profit through export. Russia also has used energy as a coercive diplomatic tool, shutting off natural gas piped to Eastern Europe in the middle of winter to make a point about how dependent the countries are that do business with the Russians.

    Now Russia is using oil exploration to establish a new presence in the Western Hemisphere. It recently concluded four contracts securing oil-exploration rights in Cuba's economic zone in the Gulf of Mexico. A Russian-Cuban joint partnership will exploit oil found in the deep waters of the Gulf.

    Cuba has rights to the area in which drilling will be conducted under an agreement the Carter administration recognized. From Russia's perspective, this is another way to gain leverage inside what traditionally has been America's sphere of influence. It may not be as dramatic as the Soviet Union attempting to use Cuba as a missile platform, but in the energy wars, the message is the same. Russia is projecting power into the Western Hemisphere while the United States retreats. The world will not tolerate a superpower that acts like a sidekick much
  2. Being sold down the Ganges, piece by piece.

    Giving the Russian bear a foothold is suicide.

  3. Agreed for various reasons.
    The scary one is military under a Putin directive sneaking nuclear subs
    off our seaboard under tankers that now can play in our region.

    Don't even blow off this idea ... it is masterful as far as a strategic first strike strategy.

    "Getting paid to position for a better posture for a hostile take-over."
  4. maxpi


    Obama needed the vote for Obamacare...
  5. Every day you Americans amaze me more just how stupid and uniformed you are.

    Obama needs Ruskies to stand down on Iran so Israel and US can bomb it to hell.

    And Russians have a price to not interfere.

    You as a citizen will get more war, debt and more terrorism and hate. Congratulations your politicos have sold you to Foreign lobbies like Israeli Lobby.

    Have fun :cool:
  6. the1


    Baloney. The US has always been the world leader in innovation. Why would you expect energy to be any different. Obama is doing the right thing by looking to alternative sources of energy whether Climate Change exists or not.

    Google "Bloom Box." That's just the beginning. These things can power entire corporate offices. Imagine what they could do for a car. Good luck with that drilling Russia.

  7. Misinformed on so many levels.

    Every state is currently free to drill to their heart's content in state waters and they should do that. But guess which state did not want to do this? Florida under Jeb Bush.

    This is a states rights issue as many conservatives don't like to point out. Let the states decide.

    As to the Russians, let them drill in Cuba, they will soon find out how hard it is.

  8. Look ... your broad sweeping statement is warranted to a degree but
    it only makes you appear very rude and trollish with your first post.

    There are multitudes of reasons for actions by the powers that be.
    Yours is one in the mix. Russia buying more US debt might be in there.
    Plus hundreds of varying shades that have been stewed over by think tanks.

    Concessions, negotiations and strategies abound.

    So before you come on here all knowing and blasting the
    good people in this site who don't post 1000 page doctorates to explain every variable to your satisfaction ...
    perhaps you might show some manners and respect and get to
    know that there are good and knowledgeable people here.

    At this juncture mister 1st post ... you showed only trollish behavior.

  9. complete total BS. This site is becoming inhabited by all manner of creatures, not even registering on the naive scale. Real McCoy "you ain't" and undeserving of the polite response given to you in the post above by OP. Here goes another Scat......ON IGNORE!
  10. pspr


    It's not just a states rights issue. The Democrats have stopped drilling where ever we find oil. They stopped oil shale development too. Their master plan is to drive oil prices sky high to force us into alternative energy. The problem is that unless we develope our oil resources now we will be at the mercy of other nations for energy for at least another 20 years. They should let the market drive the source for energy instead of forcing another oil crisis "for our own good". They are IDIOTS!!
    #10     Mar 18, 2010