Huge oil strike confounds critics
By Brian Kirwin | Thursday, September 3rd, 2009 | PolicySo much for stories of dwindling oil off US shores.
Nearly seven miles below the Gulf of Mexico, oil company BP has tapped into a vast pool of crude after digging the deepest oil well in the world. The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska’s famous North Slope oil field.
The company’s chief of exploration on Wednesday estimated that the Tiber deposit holds between 4 billion and 6 billion barrels of oil equivalent, which includes natural gas. (USA Today)
With this discovery in an area thought by many critics to have no oil potential anymore, and President Obama financing oil exploration in Brazil with your tax dollars, the least we can do is allow private exploration off our own shores and see what’s there.
Today’s technology makes yesterday’s barren sites a new world of discovery, with this one 35,000 feet down. That we haven’t even explored the East Coast for anything in decades is indefensible now. No need on banking on the estimates from years and years ago to decide what might or might not be available.
McDonnell’s “More Energy, More Jobs” strategy makes sense, and the arguments against it wilt when compared to the opportunities that exist.
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About the author
The right wants to jeer him. The left wants to censor him. Moderates usually want both. Brian Kirwin is a political consultant and public relations strategist in Virginia Beach with a lightning-rod flair. Brian also serves on the VB Arts & Humanities Commission and frequently appears on Hampton Roads theatrical stages, if only to prove that all actors aren’t liberals. Kirwin’s columns stir up debate and hit the political scene with no punches pulled.
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11 Responses to "Huge oil strike confounds critics"
Yes, the oil find was interesting. Apparently its deeper than Mt Everest is tall.
HowEvah…. about that radical muslim “financing oil exploration in Brazil with your tax dollars”……
_____________
Link: Politico The government-run U.S. Export Import Bank is disputing Sarah Palin’s attack this morning on a proposed $2 billion loan to the Brazilian oil company Petrobras. Palin complained in a Facebook post that “the Obama White House is prepared to send more than 2 billion of your hard-earned tax dollars to Brazil so that the nation’s state-owned oil company, Petrobras, can drill offshore and create jobs developing its own resources … when the need and desire is great in America.” A spokesman for the bank, Phil Cogan, noted to Politico that the bank does not rely on tax money and that Palin’s statement ignores the bank’s central function: To lend money to foreign companies for the purchase of American goods and services. Palin drew her criticism from a Wall Street Journal editorial which also doesn’t mention the bank’s basic function.
“It has to be produced by U.S. workers,” Cogan said. Palin’s statement refers to “creat[ing] jobs and health benefits in the U.S.”
“That’s exactly what a purchase financed by the U.S. government would do,” Cogan said.
In this case, Cogan said, the proposed loan would likely finance engineering services, sales of ships to service oil platforms, or drilling equipment.
“This is the government doing what it’s supposed to do: Create jobs and make sure that Americans get a fair shot at selling goods and services — not the British or the French or anyone else — and to help American workers compete on a level playing field,” Cogan said, noting that most developed countries have similar credit-export agencies.
“This is like her and her death panels,” the official said. “This is one more example of, ‘Let’s take a situation with a kernel of truth and blow it up and not let the facts ruin a good story.’”
What do you expect from her? She is a nut. Back to the oil find: Maybe we can fund a national healthcare program with the money from our oil! It sure isn’t going to be Virginia’s oil revenue…
William, its not just “her”. BK is regurging the same stuff as Alaska Spice. Include the learned WSJ, Fauxnews, Drudge, etc. Its like The Invasion of the Body Snatchers. But instead of pods, its done with a Teevee tuned to Faux or Dobbs, or a radio tuned to RushHannitySavageOreillyBeck, or a PC tuned to BearingDrift.
You seem to be on here a lot foobar… Are you trying to educate the poor ignorant Republicans?
James – when one compares the comments made by personnel at the U.S. Export Import Bank to those comments made by Sarah Palin and by Brian Kirwin, i can only assume that your question is rhetorical.
Now……now……let’s really put things into perspective.
The function of government is not really to create jobs. However, I don’t necessarily oppose a loan to help Brazil finance exploration. The oil market is a “world market”. The free flow of energy supply to the world is a national security issue. The more non-middle eastern reserves we can tap, the better. There is also a diplomatic benefit to this. So, I’m not against this.
On the other hand, what Foobar is totally ignoring and his favorite resident from Alaska is just nailing Obama on, is two fold:
1) Obama has helped to block domestic exploration. He does appear to be quite the hypocrite by suddenly helping to fund exploration in another country. Brazil carbon is better than domestic carbon? Oil spills are ok, as long as it is in Brazil? Sure, Palin is miffed. There is that ANWR thing. Drill near rain forest rich Brazil but, not sub-zero wasteland Alaska? This Obama guy must be a rolling in laughter as he thumbs his nose at our domestic oil interests in Alaska.
2) Now, you Republicans have been in power a REAL long time. You had your opportunity. You had your Haliburton. You see, Obama and the Democrats are “having their turn” at playing political payoff games with YOUR taxes. The GOP had Haliburton. All the Dems want is one guy. What Foobar conveniently leaves out, besides point 1 above and his/her real name, is that the Democrat Haliburton is none other than George Soros. “Their George”, no initials are used in his name at least, bought a $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding.
Their George isn’t a big supporter of Fox News, but he does seem to just love his own propaganda machine MoveOn.org which he gives millions to.
I support exploration in Brazil and whatever diplomatic gains we can make from this. World stability (access to energy) is more important to me than denying “Their George” an opportunity to make “evil oil” money.
It is a good move. Too bad they have to look like two-faced hypocrites as they do it. Good for Palin, it raises her political stock and makes her look good….again. Two in a row for her. She’s right to point out the whole thing. I hope she doesn’t try to block it.
Both sides are filled with unethical parasites. “A pox on both of their houses”, let’s hope they don’t ruin the world during their spasms of self-worship and temple building.
Britt Howard:
The U.S. Export Import Bank states that Palin is COMPLETELY wrong in her appreciation of the bank’s role in the loan to them ferners (function: “To lend money to foreign companies for the purchase of American goods and services… It has to be produced by US workers, creating jobs in Merca”).
You: “Good for Palin, it raises her political stock and makes her look good….again. Two in a row for her.”
Shorter version:
Palin: COMPLETELY WRONG
You: MAKES HER LOOK GOOD
Do you see where i’m going with this?
Can you at least have an appreciation for the bubble-dwelling label that so many have earned during the last administration?
“Ex-Im’s egregious track record for foreign investments: That $18 million went to a Chinese steel mill that proceeded to illegally dump steel into the United States; $673 million was loaned to a project in India that was turned down by the World Bank as being “not economically viable’; Boeiing aircraft sales deal with the Chinese military was subsidized, the actual work moved to a factory in Communist China, while ditching Americans workers.”
http://www.jbs.org/jbs-news-feed/5252-palin-correct-on-us-brazilian-investment
Real red, white and blue there, Foo.
“In this case, Cogan said, the proposed loan would likely finance engineering services, sales of ships to service oil platforms, or drilling equipment. ”
Which doesn’t change my initial statement. We are helping Brazil drill and blocking the same strategy here.
Foobar, you’re missing the point. I don’t care if US jobs are created by it or not. It is STILL hypocritical. Not a bad project. You hear me support it, ok? I don’t like how it is being handled at all, but adding to the world oil supply is a good thing. We will also get to call Soros an “Evil Oil man” like you guys did to Bush. That will be fun, I think. I love to call people on their B.S.
While Obama/Soros drill elsewhere and Soros profits, exploration/production is being blocked here. I’m not going to belabor pointing out the obvious to somebody like you that is obviously just ignoring it. I don’t doubt for a moment that you know what I’m saying here.
Good project – executed good ‘ol boy style – makes Obama/Soros look like hypocrites – makes Palin look good…….unless she tries to stop it out right – in our National Security interests to maintain energy supplies.
Its a mixed bag for you guys & when ‘ol Sarah looks good, it gives you heartburn……sorry. It is just true.
A single impartial style with BBC within the Tv show. He has a truly hard immigration coverage. This individual graduated on the Harvard University. At this point he has the one Stereo Show. He couldn’t just like your States us president.
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