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Question: Who Would Benefit More from Lifting the Ban on Offshore Oil Drilling- Consumers OR Profiting Oil Companies? WASHINGTON - July 31 - AP is reporting: "Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest quarterly profit ever by any U.S. corporation." Tyson Slocum is director of Public Citizen's Energy Program. He said today: "Contrary to what Bush is claiming, the Department of Energy determined that an increase of offshore drilling would have an insignificant impact on oil supply and prices. These profits at Exxon Mobil and other big oil companies are not being re-invested into things that would end our oil addiction; they are being used to finance things like stock buy-backs. We need to stop subsidizing big oil so we can invest in clean energy." Candida Scott, an oil industry researcher at Cambridge Research Associates, said oil needs to be priced at $60 a barrel or more to justify deep-shelf drilling. 5 hours ago Candida Scott, an oil industry researcher at With oil now selling for $134 a barrel, companies are almost assured of profiting from offshore drilling, Scott said. Tyson Slocum is director of Public Citizen's Energy Program. He said today: "Contrary to what Bush is claiming, the Department of Energy determined that an increase of offshore drilling would have an insignificant impact on oil supply and prices. These profits at Exxon Mobil and other big oil companies are not being re-invested into things that would end our oil addiction; they are being used to finance things like stock buy-backs. We need to stop subsidizing big oil so we can invest in clean energy." Public Citizen has just released a statement "Loophole Spared Oil Companies Billions in Royalty Payments to American Taxpayers," which begins: "A bureaucratic oversight has allowed 24 oil companies to skip out on more than $1.3 billion in royalties." http://www.citizen.org/pressroom/release… http://www.cnn.com/2008/POLITICS/06/18/b… Use It Or Lose It! http://www.politickernj.com/senatormenen… Senators Russ Feingold (D-WI), Christopher Dodd (D-CT), and Robert Menendez (D-NJ) are continuing their push to ensure that, before the oil companies seek additional leases, they develop the 68 million acres of federal land they currently lease. The trio is attempting to offer several amendments to the energy speculation legislation currently being considered by the Senate. Feingold, Dodd and Menendez recently introduced the “Responsible Federal Oil and Gas Lease Act” and “Responsible Ownership of Public Land Act.” The first requires oil companies to show they are either producing oil or gas - or making progress exploring or developing – on current leases before they obtain more. The Responsible Ownership of Public Land Act, which the trio introduced along with Senator Dick Durbin (D-IL), would charge oil companies a fee for every acre of land they lease but do not use for production. Reality check: First, Senator McCain’s proposal to “drill more in America and rescue our family budgets” — that is, to open up environmentally sensitive offshore areas to oil drilling — would take about a decade to produce any oil. That’s according to the Energy Information Administration (EIA) of the U.S. Department of Energy. Maybe by “family budgets” McCain meant rescuing families in 2018. Or maybe not. According to the EIA, the total amount of oil that this drilling would produce at peak 20 years from now would be less than 0.2 percent of world production. This would be too small to have any significant effect on the price of oil or gasoline, according to the EIA. Last Sunday, on the ABC morning talk show “This Week,” Senator McCain again mentioned “offshore drilling” as part of a plan to reduce dependence on foreign oil. He got away with it, since the host didn’t ask him how such a tiny amount of oil would have any significant effect on imports. http://www.cepr.net/index.php/publicatio…

Answer: I think it is a political ploy. It accomplishes two things- 1. gives republicans a window to do what they have wanted to do all along but couldn't pass the legislation for. 2. creates an artificial rift between republicans and democrats to help get McCain elected based on the faulty idea that our gas prices are going to suddenly decrease because of it.


Director Energy Industry Career Information and Opportunities

Energy industry master's degree offered by University of Tulsa

Tulsa World
By ROD WALTON World Staff Writer The oil and gas industry's generation gap in leadership should lead many up-and-comers back to campus, the director of a new University of Tulsa degree program said Wednesday. The Master of Energy Business program has ...
 

TIME (blog)

Coal industry wants answers from Chesapeake on anti-coal funding
State Journal
 

Daijiworld.com

India Should Scale Up Green Technologies: UNIDO Chief
Daijiworld.com
 

Telegraph.co.uk

Documentary Windfall lies about wind energy
REVE
 

Going with the wind

Galesburg Register-Mail
The US wind industry installed just more than 6810 megawatts in 2011, 31 percent more than in 2010, with more than 8300 MW under construction. Dilts said the SBC has had its eye on wind energy for some time, but this year will begin attending some ...
 

The Huntsville Times - al.com (blog)

Huntsville officials look to potential hot job opportunities in the years ahead
The Huntsville Times - al.com (blog)
 

Doctor Prescribes Preventive Medicine for Shale Gas

Daily Green (blog)
As Gasland director Josh Fox's arrest stole the attention, politicians heard important testimony about fracking. The operating assumption that generally prevails in Washington, DC, is that the facts should fit the political narrative, not the other way ...
 

Vermonters to participate in ?crowd-sourced? film on ?energy independence day?

vtdigger.org
It's also about sweeping changes found in Vermont's homegrown renewable energy industry, the new comprehensive state energy plan, and grassroots actions of 100 town energy committees. Anyone with a camera and image to share of Vermont's energy ...
 

Los Angeles Times

Josh Fox, 'Gasland' Director, Talks Of Capitol Hill Arrest
Huffington Post
 

AME Info

Qatar 2022 head to open MEED Sports Forum on Sunday
AME Info