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Message Subject Something Just Went BEZERK in the Gulf of Mexico. The US Navy just sunk a French Submarine
Poster Handle PRECEPTOR
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Study: 20 million acres of federal oil, gas leases in Gulf of Mexico idle

During the second presidential debate, President Obama said: “Here’s what happened... You had a whole bunch of oil companies who had leases on public lands that they weren’t using. So what we said was, you can’t just sit on [these leases], decide when you want to drill, when you want to produce, when it’s most profitable for you. These are public lands. So, if you want to drill on public lands, you use it or you lose it.”

[link to www.washingtonpost.com]


How about that?

scratching
 Quoting: Isis7


Here is a comment at the foot of this very topical and hence interesting newspaper article ...

Fadel Gheit, an oil analyst with Oppenheimer and Co., said that complaining about the pace of leasing in the gulf in the wake of the spill was like complaining that a motorist was not driving fast enough after coming to a highway accident and car pileup.
 Quoting: PERCEPTOR 25812303


Further comment from The Guardian newspaper:

BP chief executive, Bob Dudley, said: "BP intends to be a long-term investor in Rosneft – an investment which I believe will deliver value for our shareholders over the next decade and beyond."

Dudley did not comment on the price and the company declined to explain why AAR appeared to be receiving more for its 50%. However, BP retains the prospect of working on potentially profitable projects with the state-controlled company such as in the Arctic.

The Russian president, Vladimir Putin, said: "This is a good big deal which is important not only for Russia's energy sector but for the entire Russian economy."

Igor Sechin, president and chairman of the management board of Rosneft and a former spy who flew to London last week to take control of the long-running negotiations, said: "I strongly believe that we would benefit from BP's experience and its track record of implementing best international practices in Russia. I am especially pleased that BP has chosen to remain as one of the largest foreign investors in the Russian economy recognising the potential of both Rosneft and the Russian oil and gas sector."

The deal finally gives BP an exit from a venture which has provided a series of difficulties,
notably when Dudley was forced to flee Russia in 2008 when he was head of the TNK-BP after threats to his safety. AAR
 
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