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Politics : I Will Continue to Continue, to Pretend....

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To: Sully- who wrote (34658)	8/21/2010 4:39:22 AM
From: Sully-	of 35834

Obama's moratorium was just initally just for deep water rigs, but now shallow water drillers worry about bankruptcy? By: Mark Tapscott Editorial Page Editor 08/20/10 3:45 PM EDT President Obama's "temporary" drilling moratorium implemented in the wake of the BP oil spill disaster in the Gulf of Mexico is having devastating effects throughout the region's energy industry even though the regulation originally was only aimed at rigs operating in deep water. The Houson Chronicle reports that 14 of 46 shallow water rigs drilling rigs aka "jackups" are now idle thanks to delays in Department of Interior processing of drilling permit applications. "So far, permitting delays have idled 14 of the 46 available jackups in the Gulf and forced offshore companies to cut several hundred jobs," reported the Chronicle's Brett Clanton. "Each rig employs about 100 workers and supports many additional indirect jobs at supply boat companies, oil field services companies and other businesses," Clanton said. "If the situation doesn't change, 25 rigs will be idle by the end of August and 30 by the end of September as existing permits expire, according to figures provided by the Shallow Water Energy Security Coalition, an industry group formed in May to call attention to the issue, he said." Two deepwater rigs have recently been contracted away from work in the Gulf to projects elsewhere in the world for foreign firms. You can read the rest of Clanton's report here. The Gulf drilling moratorium is projected by Lousiana State University Prof. Joseph Mason to be likely to result in more than 8,000 lost jobs, representing some $500 million in wages. HT: In The Pipeline, American Energy Alliance washingtonexaminer.com

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