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Thursday, May 27, 2010

Obama, Oil Leak
U.S. President Barack Obama extended on Thursday a moratorium on new offshore oil drilling by six months in the wake of BP's (BP.L) massive oil spill in the Gulf of Mexico. [ID:nN27251889] [ID:nSPILL]

Following are comments on this announcement:

* U.S. Senator Lisa Murkowski of Alaska, Ranking Republican on the Senate Energy and Natural Resources Committee

"If the delay is for a season to ensure we have the highest levels of protection in place, that's one thing. But if it means that existing permits are allowed to lapse - effectively killing Shell's participation in Alaska - that's not acceptable to me or Alaska."

"We need to be able to tell Shell that this one-year delay isn't in reality a life sentence. Otherwise this decision puts Shell's entire Alaska program at risk."

* Steven Newman, Chief Executive Officer, Transocean Ltd (RIGN.S)

"I think a pause is prudent," Newman told a congressional hearing, adding that he thinks the pause should only apply to deepwater drilling permits. "It's incredibly important to understand what happened and how to prevent such leaks in the future."

He said long term the Gulf is important to the U.S. economy. "The ability of the U.S. to manage risk is far superior to other areas of the world and I'd hate to see us export that challenge."

* Michael Brune, Executive Director, Sierra Club

"It's very encouraging to see President Obama taking steps to end the lax safety regulations the oil industry has fought so hard to maintain and to put a stop to more drilling in areas like the Arctic and Virginia. The changes President Obama announced will help reduce the risk of another catastrophic oil blowout. These are important short-term moves, but these steps won't solve the underlying problems caused by our reliance on oil."

* Marilyn Heiman, Director, Pew Environment Group's U.S. Arctic Program

"We are very pleased with the President's decision to suspend Arctic exploration drilling this summer. A delay until 2011 will provide the affected communities and agencies the opportunity to further study proposed drilling technology, oil spill response capabilities and the effects of oil drilling in the sensitive Arctic marine environment."

* Gene Karpinski, President, LCV

"We commend President Obama for continuing the moratorium on new deepwater oil drilling permits pending the recommendations of the independent presidential commission, which includes delaying leases sales off the coast of Alaska. The ongoing tragedy in the Gulf Coast clearly demonstrates that our dependence on oil - be it from hostile nations or friendly coasts - hurts our economy, threatens our security and harms our environment."

source : http://www.reuters.com/article/idUSN278185320100527


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