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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (25293)	7/27/2006 6:28:14 AM
From: John Carragher	Respond to of 541743

t.boone pickens went bankrupt buying up all the natural gas he could a couple decades ago. too bad he was 25 years ahead of his time.. then he went to water. however it seems he is a the fortune teller of future oil prices on cnbc. he has no more idea of what is happening then the futures market. too bad senate dropped drilling off the coasts, we have known ng reserves off south carolina. it was drilled by mobil in late 70's early 80's under federal lease payments. south carolina won in court to shut down any exploration and it took xon mobil two decades to get their millions back from the gov. through our court system. there are no reasons to stop production for natural gas off the coast. Presently no substitute for it in states since GE made gas only turbines and electric companies were all so wise in early 90's that there would be unlimited supply of natural gas. Perhaps with change in income rates going to states drilling off shore coasts may resume.