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Politics : Politics for Pros- moderated

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To: KLP who wrote (308331)	6/3/2009 2:25:56 AM
From: Snowshoe	Read Replies (1) of 793914

>>WHATever the size of the Pt. Thompson Oil and Gas Reserves, at the very least, she has opened it for drilling!<< No, Palin didn't "open" Point Thomson for drilling. It's been open to drilling for forty years! Exxon and the other leaseholders sat on these leases for decades without developing them, because cheaper oil and gas was available elsewhere. What actually happened is that Palin (along with former governor Murkowski) forced Exxon to either start drilling or forfeit the leases. Palin tried to seize the leases even after Exxon promised to drill, but the court decisions were favoring Exxon so Palin got a 50% victory by forcing Exxon to drill. I suspect that Exxon will lose money on this project, but had to do it to keep the leases. >>Which is more than Obama or any of the other states are doing.<< Massive reserves of shale gas are currently being developed on state and private leases in states like Texas, Arkansas, Louisiana, and Pennsylvania. The US government still has an active leasing program, although it has been cut back somewhat by Obama. The price of US natural gas has fallen dramatically.

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