By Douglas V. Gibbs
After heavy criticism, and knowing that he had to do something to help is dying 2012 bid for re-election, Obama's Interior Department has announced that offshore oil leases in the Gulf of Mexico are for sale once again. The rules, however, have been changed, meaning that the government will maintain a tighter stranglehold on oil drilling activities.
The decision may influence gas prices in a positive manner, as Obama is hoping, as well as improve relations between the White House and the oil industry. The cost to buy these leases, however, has doubled, and the opportunity to purchase these leases will not begin until December 14, 2011.
Is it just a coincidence that it is scheduled right before Christmas? Is Barry hoping to be called the President that saved Christmas as the gas prices drop as a result?
The idea of the price hike on the leases is to encourage exploration and development, rather than the oil companies sitting on less expensive leases and not conducting any drilling.
The oil industry, happy to see the lease sale on the horizon, question the rationale for raising the minimum bid, thinking that the move may discourage investment in the Gulf.
The Interior Department has also recently granted tentative approval to Royal Dutch Shell to drill in the Arctic Ocean starting next year.
One wonders if this has anything to do with the August 12th lawsuit by Exxon Mobil Corp over the government canceling offshore oil and gas leases in the first place.
The answer is obvious. The narcissist is trying to save his re-election.
-- Political Pistachio Conservative News and Commentary
U.S. To Offer Oil Leases in the Gulf - New York Times
Exxon sues government over lucrative canceled Gulf leases - Reuters
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