Obama Gives Keys to the Arctic to Shell Oil
There’s a saying that goes something like: Republicans fear their base, Democrats ignore it.
Obama ignored his base today (not to mention this):
The Obama administration has decided to allow Shell to drill in Arctic waters off the Alaska coast, saying that for the time being the company must not go so deep as to hit actual oil because its troubled oil spill containment barge isn’t ready.
Continuing with Obama’s announcement:
Thursday’s decision to allow preparatory drilling represents a huge step in Shell’s controversial effort to explore in the Chukchi Sea. It shows the Obama administration, while not yet giving the green light for Shell to drill into oil-bearing geologic formations, is taking steps to help the company do so if possible this summer.
Interior Secretary Ken Salazar said Shell will get a permit allowing it to drill about 1,500 feet into the seafloor.
“We believe that there is no oil in that area. We have confidence in that conclusion, otherwise we would not be allowing this limited exploratory effort to move forward,” Salazar said Thursday.
Interior Department officials said the drilling will allow for the later installation of a blowout preventer.
Royal Dutch Shell’s profits rose 15.9 percent in the first quarter of 2012, netting $7.3 billion. Shell’s CEO Peter Voser attributed the increase in part to “strong oil prices,” which rose to over $100 a barrel this quarter.
In 2011, Shell’s profits soared 54 percent to $3.5 million every hour, despite producing 3 percent less oil. This time, it produced 4 percent more than Q1 in 2011.
Again: The hope and change Obama I voted for would say no to this. He would say we’re going to invest in wind and solar. Period.