offshore drilling (2)

Admin

Obama Approves Sonic Cannon For Oil Exploration

197738_630x354.jpg?width=300The Obama administration has approved the use of sonic cannons to explore for oil and gas off the Eastern Shore using seismic survey ships which tow airguns that emit underwater explosions over thousands of miles along the coast.  These blast results would transform into a survey of the seabed floor to reveal potential drill sites.

The Bureau of Ocean Energy Management on Friday formally approved guidelines for using air cannons along the Eastern seaboard in the Atlantic Ocean from Florida to Delaware.  Energy companies could buy new oil and gas leases and begin drilling in 2018 if they find profitable reserves.

The guidelines are meant to protect endangered whales and other creatures from the loud noises and increased vessel traffic, but the government's environmental impact study estimates that more than 138,000 sea creatures could be harmed.

The decision opens an area of the Eastern Seaboard larger than two California's to exploration for the first time in decades, jeopardizing (

Read More, Comment and Share......

Admin

1290758?profile=RESIZE_480x480While it's obvious nothing will be done until after mid term elections this Fall and new officials are sworn it, it would appear there's hope for appropriations in the drilling and exploration area going to next year.   Per GovTrack.us

H.Res. 641: Providing for consideration of the bill (H.R. 4899) to lower gasoline prices for the American family by increasing domestic ...

... onshore and offshore energy exploration and production, to streamline and improve onshore and offshore energy permitting and administration, and for other purposes; providing for consideration of the bill (H.R. 4923) making appropriations for energy and water development and related agencies for the fiscal year ending September 30, 2015, and for other purposes; and for other purposes.

Introduced:
Jun 24, 2014
Status:
Reported by Committee on Jun 24, 2014
Prognosis
99% chance of being agreed to

Read full text

I had previously recommended ac

Read More, Comment and Share......

We welcome you to post a blog entry, oped or share your daily reading with us as long as it is relevant to the topic of investing and not an attempt to sell a product, proprietary strategy, platform or other service. Please provide links to any research data and if re-posting other articles, give credit where credit is due providing a back link to the original site.

300 words minimum per post. You may also sort by category or search by topic. Don't forget to comment and please "share" via Facebook, Twitter and Google+. If you have any questions, please contact us.

FOLLOW STOCKBUZ

__________________

This is a member-supported site. Please donate when you can to help pay the rent. Thank you!

Stay Informed. Sign up for the FREE StockBuz eNewsletter

________________

Investing involves substantial risk. All content is subject to StockBuz disclaimer.

Create Income With Option Spreads

All content on StockBuz.net is subject to disclaimer and Terms of Service