When Cuba Say They Will Drill Oil in the Gulf They Meant the Chinese

Everybody is drilling in the Gulf except for us. Price of oil skyrocketed this past week and Obama isn't doing anything about it. Telling us to trade in our car and buy a Chevy Volt is not very constructive.

Rush says when Cuba will drill off the Gulf, he meant the Chinese will drill in the Gulf

Story #8: Cuba to Drill 5 New Deepwater Oil Wells in Gulf

RUSH: "Cuba on Tuesday announced plans to drill five deepwater oil wells in the Gulf of Mexico beginning this summer, expressing confidence that its efforts will be rewarded with major new energy finds. 'We're about to move to the drilling phase,' said Manuel Marrero, an official with the government authority tasked with overseeing Cuba's oil sector." Now, we all know, everybody knows that Cuba does not have a drill. Cuba does not have a single thing. They barely have any dipsticks left to check the oil in the '57 Chevies that are sitting on the road blocks on the sides of the road in Havana. So who's actually drilling? Who's actually gonna be in partnership with Havana? It will be the ChiComs. So when it says here Cuba to drill five new oil wells, that's gonna be the ChiComs helping out. And you might have Hugo Chavez in there a bit. I mean Hugo Chavez is a big, big buddy with Fidel Castro.

Facts Don't Support Claims on Gulf of Mexico Oil Production

Everything from the White House is a lie.................

(Energy Tomorrow) Last week, Interior Secretary Ken Salazar told Congress that oil production in the Gulf of Mexico "remained at an all-time high, and we expect that it will continue as we bring new production online." He claimed: "In 2009 there were 116 rigs in the Gulf of Mexico, in 2010 in February, 120, in February 2011, 126."

But Salazar's numbers distort the true number of working rigs in the Gulf of Mexico. According to Baker Hughes:

-Four days before the Deepwater Horizon accident there were 55 rotary rigs actually drilling offshore in the Gulf of Mexico.
-On May 28, 2010, when the administration announced the six-month moratorium on deepwater drilling, there were 46 rotary rigs operating in the Gulf.
-Last week, 25 rotary rigs were operating in the Gulf of Mexico.

So the fact that there is an "all-time high" number of rigs in the Gulf ignores the fact that most of those rigs are not working. Claiming an increase in idle rigs in the Gulf as a success story is like claiming the job market is great because a lot of people are unemployed and available to work.

In the same hearing, the Secretary also claimed that "the production has remained at an all-time high" within the Gulf of Mexico and there is no way to actually make this true. The Energy Department's Energy Information Administration reports that production in the Gulf of Mexico is in decline, forecasting a decline of 250,000 barrels a day from Gulf production, due partly to the moratorium and restricted permitting. While the annual production figure for 2010 was greater than 2009, EIA's month-by-month production figures show a peak in May of 2010, and a relatively steady decline since. And EIA Petroleum Engineer Gary Long told trade publication E&E News that the rig count in the Gulf was cut in half after the Deepwater Horizon accident and that it wouldn't rebound to previous levels until the end of 2011 under the assumption that the permitting process is restored to historical rates. Further, since there is a lag time from the time an exploration permit is approved to the time of actual production, and since no only a handful of permits for new wells have been granted since April of 2010, it is likely that Gulf of Mexico production will continue to be hit hard in 2012 and beyond.

We appreciate that, when it comes to selling the administration's energy policy, Secretary Salazar is in a tough position. Fortunately we are here to help, help provide the abundant and affordable energy that our economy needs, and help create the jobs our workers want. As API President Jack Gerard said recently:

"Our industry remains committed to working with government to meet our current and future challenges, but we need Congress and the administration on board. Let's stop talking and let's get back to work."

New Study Shows That Offshore Drilling Could Make Alaska the Eighth Largest Oil Producer in the World – Ahead of Libya and Nigeria

What the hell are we waiting for.......................

(CNSNews.com) – A new study says drilling on Alaska’s Outer Continental Shelf (OCS) could make Alaska the eighth largest oil resource province in the world -- ahead of Nigeria, Libya, Russia and Norway.


The report -- by the consulting firm Northern Economics and the University of Alaska-Anchorage’s Institute of Social and Economic Research -- says that developing Alaska’s OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet of natural gas, create around 55,000 new jobs and produce $145 billion in new payroll nationally, generating a total of $193 billion in government revenue through the year 2057.


A senior policy advisor with the American Petroleum Institute, the trade group for hundreds of U.S. oil and gas producers, said in a statement about the study that offshore drilling for oil and natural gas can help with the country’s energy and economic needs.


“America will need all forms of energy to get our economy back on track, and that includes oil – we can either produce it here and create more American jobs or import it and create jobs elsewhere,” Richard Ranger said. “The administration and Congress need to adopt an ‘all of the above’ energy approach that leverages our offshore resources in Alaska to create an energy plan for America that boosts, rather than inhibits, our economy.”


About 77 percent of world oil reserves are owned or controlled by national governments and the U.S. currently imports over 60 percent of its crude oil, according to API. The Northern Economics-University of Alaska study estimates that Arctic offshore development could cut U.S. imports by about 9 percent over 35 years.


Crude oil prices in New York broke through the $100-a-barrel threshold on Thursday, with rising prices linked to the unrest in the Middle East, including Libya and its vast oil reserves.


The Washington Post reported on Thursday that U.S. pump prices for regular gasoline jumped 4 cents a gallon overnight to $3.23, an 8-cent-per-gallon increase in the past week and 55 cents more than a year ago.


“Given the current political turmoil in the Middle East and increased demand from a slowly growing economy, it is more essential now than ever before that we develop Alaska’s OCS to increase domestic production,” Ranger said. “Increased OCS production in Alaska would also extend the operating life of the 800-mile Trans-Alaska Pipeline System (TAPS), a critical lifeline of domestic energy for America.”

New deepwater drilling permits: Zilch

President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn't issued any new permits in the Gulf of Mexico.

But with new stricter rules and regulations and bureaucracy for offshore drilling, it is apparent any new permits will take an act of Congress to get through the red tape.

Hopefully, with a Republican Congress, they will deregulate some of the idiotic regulations that is causing the higher price of gas at the pumps.

Read story: New deepwater drilling permits: Zilch

Gas Prices Been Rising Since Obama became President

According to figures released by the Department of Energy, the average gas price nationally went up an unbelievable 25% since Obama took office in January 2009.

Reports from the Energy Information Administration, the cost of a gallon of gas surpassed the $3 mark in several parts of the country, and the national average is at $2.82. Overall, a gallon of gas is about $1 higher than the week of Jan. 26, 2009, when President Obama took office.

Just to note, on December 29th, the last report date for 2008, the national average price of unleaded gasoline was $1.642.

Ironically, the Democrats blamed Republicans for the high cost of gasoline because Democrats are successful to link Republicans to big oil companies. In fact, Democrats are responsible in preventing new sources of domestic petroleum from being developed after the recent oil spill. An example, Obama sign an executive order to block drilling in Utah as soon he became president. After the Gulf oil spill, he signed another executive order to ban off-shore drilling. Currently, Democrats control the Congress and the Presidency. Therefore, Democrats are silent of the high cost of gas because it is another tax from the American people.


As the economy falters, the Democrats continue to spend at a rapid pace. Currently, the government spent over 3 trillion dollars in 22 months. At the Fed, Chariman Ben Bernanki is monetizing the debt to temporary fix the problem, but risking higher inflation. The Fed Chairman is devaluing the dollar. It is causing the price of oil to rise, not because of demand, but because the value dollar is depreciating.

There is an indirect relationship between the falling dollar and price of oil. When the dollar is devalued the price of oil is expected to rise. With the announcement by the Saudi oil minister stating crude-oil price is expected to reach $90 per barrel and Obama ban on oil and gas exploration, it is possible for the price of gas to reach $5.00 per gallon.

Read story: Oil prices march on, New York crude at two-year high