If the Obama Administration actually favored increased production in the Gulf of Mexico, it would be happening Don Briggs, president of the Louisiana Oil and Gas Association (LOGA) told audience members at luncheon held in New Orleans. “Louisiana is the Aorta of America,” he said in his talk. But a change in Administration is needed.
Contrary to rosy assessments from high profile publications and the Obama Administration, the owner of Laborde Marine reveals the uncounted devastation from the shut-down of rig operations in the Gulf of Mexico.
As the state legislature prepares to go back into session, some critics of the horizontal well severance tax incentive now say the program should be eliminated to help close the budget gap. But, a new study from the Louisiana Oil and Gas Association concludes the state would lose out over the long-term if the incentive is removed.
Sen. David Vitter has called out top Obama Administration officials for misleading the public and members of Congress on the actual number of offshore oil drilling permits. A recent motion from the Department of Justice includes numbers that tell a much different story than what has been communicated in congressional testimony.
While Gulf production was higher in 2010 than any previously recorded year, these levels peaked prior to the BP disaster and have steadily declined ever since the imposition of the moratorium on drilling.
Shell Oil Company’s latest research “Signals and Signposts” affirms peak oil theory: that we have reached maximum worldwide petroleum extraction. The report’s authors recommend swift utilization of alternative energy sources.
“The political turmoil sweeping across countries like Egypt, Libya, Bahrain, and Tunisia has resulted in rising oil and gasoline prices, increased inflation, devalued currencies, and diminishing stock values… Unfortunately for U.S. consumers, no one is taking action to alleviate the strain on their pocketbook.”
President Obama’s plan to increase taxes on the energy industry has sparked a swift response from the American Petroleum Institute.
Energy providers participating in a renewables pilot program, with minor exceptions, will also face heavy research and reporting requirements.
Local and State Efforts Now Underway in Louisiana to Test Viability of Renewable Energy