AND THE PUNDITS WONDER WHY AMERICA IS LOSING ITS STATUS AS THE ECONOMIC GIANT. THE BLAME FALLS SQUARELY ON CONGRESS IN THE PAST FOR HAMPERING AND NOW THIS ADMINISTRATION MARCH TOWARDS DESTRUCTION ON THE NEED FOR CHEAPER ENERGY THAT IS SO DEARLY REQUIRED TO EXPAND AND GROW OUR ECONOMY.
Reuters ran a smart analysis Sunday of BP's decision this week to form a joint venture with Rosneft, Russia's largest oil company.
Under the deal, announced Friday, BP will develop area's off of Russia's north coast. The companies also agreed to a share-swap.
According to the analysis, the deal indicates that BP is still willing to take risks, despite the economic toubles it faces as a result of the massive Gulf of Mexico oil spill.
"BP's share swap and arctic exploration deal with Rosneft show the London-based oil major is ready to take commercial risks rivals might shun even after its battering from the Gulf of Mexico oil spill," Reuters says.
BY LLOYD C on 01/16/2011 at 12:15
Markey and the other Greens have little sense:
Here is the situation:
- BP will help the Russians drill for oil in the Artic - but on the other side of the Artic, americans cannot drill for oil in Alaska.
- Americans cannot drill for oil in the Florida Straits - yet Cuba ( with the help of Brazil's Petrobras ) start drilling there this year.
- Canada drills for oil and gas off Nova Scotia - but a short distance to the south, Americans cannot drill for the same oil and gas - Oh, and Canada sells that gas to to the USA.
- Americans cannot drill for the proven oil and gas off North Carolina or California.
- We will all be riding bicycles or horses in a few years - and the politicians wonder why the voters are ticked off - -go figure !!!
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