COVINGTON, La., July 13 /PRNewswire-FirstCall/ -- Hornbeck Offshore Services, Inc. (NYSE: HOS) announced today that it is reviewing the Secretary of the Interior's latest offshore drilling moratorium and has substantial concerns about its consistency with the June 22, 2010 order by U.S. District Judge Martin Feldman. Judge Feldman ruled in favor of Hornbeck Offshore's action to block a six- month federal moratorium on deepwater drilling in the Gulf of Mexico. Subsequent challenges to the judge's order by the federal government were denied, including last week's ruling by the Fifth U.S. Circuit Court of Appeals. Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore supply vessels in the U.S. Gulf of Mexico and in select other domestic...
From wire reports WASHINGTON
NEW ORLEANS, March 11, 2011 /PRNewswire/ -- "President Obama's rhetoric will not bring down the price of gas, will not make us less reliant on unstable regimes and will not generate new jobs in the energy sector. The only immediate solution to the administration's self-imposed energy crisis is to lift the de facto moratorium on offshore drilling in the Gulf of Mexico," said Jim Adams, president and CEO of the Offshore Marine Service Association (OMSA). (Photo: http://photos.prnewswire.com/prnh/20110311/PH63745 )
Shortly after the U.S. Energy Information Administration released a report estimating that President Obama's six-month moratorium on offshore drilling in waters deeper than 500 feet will cut domestic production by 30 million barrels during the coming year, Sen. Robert Menendez, New Jersey Democrat, announced legislation that promises to reduce oil and gas output even further, possibly delaying economic recovery. Titled the Close Big Oil Tax Loopholes Act, the bill aims, among other provisions, to undo for one and only one industry, a U.S. Treasury rule, in place for more than a quarter-century, that allows American companies operating overseas to claim credits on their U.S. corporate income tax returns for income taxes paid to foreign governments.
For years, both of New Mexico's U.S. senators have voted against lifting the decades-old moratorium on offshore drilling. But this week, when Interior Secretary Ken Salazar announced the Obama administration's plan to open up part of the Atlantic coast and other areas to offshore drilling, both Sen. Jeff Bingaman, who chairs the Senate Energy and Natural Resources Committee, and Sen. Tom Udall applauded the announcement.
Now that President Obama's administration has lifted its moratorium on offshore drilling, oil rigs are free to return to the Gulf of Mexico -- just as soon as they comply with a raft of new regulations drafted to ensure they can work safely. Following the worst oil spill in U.S. history, additional regulations were to be expected. Complying with them won't be quick and easy, and some industry officials think it will be months before idled drilling rigs are back in operation.
With mid-term elections soon, I reflect on President Obama's accomplishments. Most disasters confronting him were forged before 2008. The mess cannot be addressed in a single term. Health care reform is an important step forward. The economic bailouts avoided a depression and have nearly been paid back. Government takeover of student loans has shifted corporate profits back into education. The moratorium on offshore Gulf oil drilling will lead to safer procedures and a protected environment.
NEW ORLEANS, Feb. 2, 2011 /PRNewswire/ -- The Offshore Marine Service Association today praised a federal judge's ruling holding the U.S. Interior Department in civil contempt and called for the Obama Administration to end its de facto moratorium on offshore drilling in the Gulf of Mexico. The ruling highlights the disparity between President Obama's stated policy objectives -- to grow jobs and promote American energy independence -- and his actions, which instead deliver higher unemployment, higher fuel prices and greater dependency on foreign energy sources. This ruling demonstrates the President is more interested in shutting down our domestic oil and gas production than he is in establishing clear rules to enhance safety and environmental protection. President Obama's policies are ...
WASHINGTON - There's a world of difference between the impact of an oil spill and a deadly hurricane. And the White House hopes it stays that way. As President Barack Obama stepped up his administration's response to the oil leak in the Gulf of Mexico, ordering a moratorium on new offshore drilling leases and dispatching Cabinet secretaries and cargo planes to the region, the White House is also trying to avert the kind of political damage inflicted on former President George W. Bush by his administration's slow response to Hurricane Katrina.
President Barack Obama still hasn't gotten a grip on the BP oil disaster. If he had, BP wouldn't be set to start drilling an even riskier offshore well with the government's blessing. That's right, BP, author of the worst oil spill in the nation's history, can drill offshore despite Obama's order to halt all deep water drilling after the April blowout of the BP well in the Gulf of Mexico.
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