Thanks Obama… Thanks Democrats…
For decades, Democrats have blocked one effort after another to responsibly develop the energy resources our country possesses, transforming vast areas of opportunity into “The No Zone.”
Because of current U.S. policy, U.S. companies are prohibited from developing oil fields that lie in Cuban waters and come within 50 miles of Florida. However, Cuba is exploring and developing these oil fields, estimated by the U.S. Geological Survey to possess more oil than the Alaska National Wildlife Refuge, and Cuba is partnering with China and other countries, such as Spain, France, and Canada.
The Castro Regime will begin drilling off the coast of Florida this year and will go deeper than the Deepwater Horizon rig that exploded in the Gulf of Mexico in April.
But, US companies are not so fortunate.
In December the Obama Administration issued a massive new ban on offshore oil drilling in the eastern Gulf of Mexico or off the Atlantic and Pacific coasts.
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In April, Shell Oil announced that because of Obama’s radical EPA, they will be forced to stop drilling off the coast of Alaska. A village of 250 people 70 miles away may be harmed by emissions.
A giant, semi-submersible oil rig en route from Singapore will probably be drilling in the Florida Straits between Key West and Cuba in mid-December. The rig could arrive earlier, but Repsol, the Spanish oil company, wants to wait until after hurricane season ends before it begins drilling. This latest report on the progress of the Italian-made Scarabeo 9 oil rig comes from Lee Hunt, the chief executive of the International Association of Drilling Contractors, who just returned from a trip to Cuba last week as part of a joint delegation with the environmental group, the Environmental Defense Fund. Hunt also said that Repsol plans on having one well drilled by the end of the year. Read more at the Miami Herald.
But, Obama did blow a half a billion dollars on Solyndra.