Re: Obama rolls out plan to cut oil importsBy the CNN Wire...

[Guest guest]

Much speaking but short on action.

At the same time he's saying this, some in his party in Congress and government bureaucracies are pushing measures to tax holders of the leases and also limit the time they can be held. This will shut down exploration because not every lease will have oil or gas under it, so having to pay what will be an aggregate of billions per year in taxes will dry up exploration. Also, they have been very slow at issuing permits in the Gulf and they have put vast tracts of coastline off limits to drilling.

That's not stopping the Chinese, Russians and others from drilling just outside out territorial waters though.

In a message dated 3/30/2011 2:05:13 P.M. Eastern Daylight Time, no_reply writes:

Obama rolls out plan to cut oil imports