The Clyde Boudreaux makes $450-$500K per day in the Gulf of Mexico, but now thx to Obama and company has to move to Brazil for the cut rate deal of $290K per day.
Obama's EPA Steven Chu wanted our gas prices to match europe (when it was $8-9/gallon).


RightChange: Thanks To Obama, Oil Rigs Move Out

Posted by jsan — Fri, January 28 at 5:00PM

When the BP-Deepwater Horizon Oil Spill ruined the gulf coast physically and economically, President Obama used this a prime opportunity to push his job-killing energy policy. He started by issuing a ban on all off-shore drilling, a rule that took the people of the Gulf Coast from being mad to furious. The ban was a major overreaction and was predicted to take away thousands of jobs. Those who predicted have been proven correct.

Oil rigs and the jobs they create have already moved out of the Gulf.

“Some of the 30-plus deepwater rigs that were in the Gulf of Mexico have moved to other markets, first because of a U.S. halt called last May after BP Plc's well blowout, and then because of the lack of permits once the moratorium was lifted.”

Out of the list of rigs that have been affected, Hotair broke down the biggest:

-Diamond Offshore Drilling – The Ocean Endeavor to Egypt and the Ocean Confidence to the Congo.

-Transocean, the world’s largest offshore drilling contractor – The Marianas rig to Nigeria and Discoverer Americas to Egypt.

-Pride International Inc – Deep Ocean Ascension heading to the Mediterranean Sea

-Noble Corp – The Clyde Boudreaux moving to Brazil and they expected more to follow

The moratorium has since been lifted, but what’s clogging the hole is the slow permit process. So far, the Deep-Water Drilling permits have been down 88% http://blog.heritage.org/?p=49734 since Obama lifted to moratorium:

“The federal government has estimated that U.S. offshore oil production could drop 13% in 2011 because of regulatory delays and other new rules being put in place,” according to the Wall Street Journal. “Before the BP oil spill, offshore production this year was projected to increase by 6%.”

Maybe that is a reason that gas prices have soared to over $3 a gallon. The rigs cannot drill without these permits and they certainly can’t sit around and wait for the government to be efficient; so they move elsewhere. Obama knew this would happen when he issued the moratorium because his blue ribbon panel warned him.

The gulf coast will continue to feel the effects of Obama’s failed leadership in handling that crisis. Watch RightChange’s mini-documentary on how Obama failed to lead the Gulf Coast in the worst disaster in the Gulf Coast since Hurricane Katrina.