U.S. Interior Secy says offshore oil still needed

[Robbien]

Source: Reuters

WASHINGTON, May 18 (Reuters) - U.S. Interior Secretary Ken Salazar told Congress on Tuesday that the United States will still have to rely on offshore oil drilling to meet its energy needs, despite the massive oil spill that threatens Gulf Coast communities.

"Offshore development is a necessary part of that future," Salazar said at a Senate Energy and Natural Resources Committee hearing on the oil spill, caused after a drilling rig leased by BP (BP.L) exploded last month.

Salazar said that as the government evaluates new offshore areas for potential oil development, it will conduct thorough environmental analyses, seek public comment and carefully consider worker safety and oil spill risks.

Read more: http://www.reuters.com/article/idUSWBT01392020100518

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[BeyondGeography]

1. Obvious statement; it's 1/3 of all our domestic-produced oil

Not that it will prevent people from screaming Salazar is a pug here.

[polichick]

4. Makes ZERO difference, except for in oil profits. Fact One: We have at best 2% of the world's...

...oil supply and use 25%.

Fact Two: All oil is sold on the global market - "our oil" doesn't stay here.

Both Salazar and the president are perpetuating a MYTH.

[joeybee12]

5. I know..it was disgusting when Bush and his ilk lied about this, and it's

still disgusting.

[Robb]

9. Well, it's *for sale* to the global market.

If a barrel of oil is produced domestically, it's for sale to whoever wants it the most. If someone here bids $100 for the barrel, and someone in Mexico bids $101, it goes to Mexico.

[polichick]

10. It doesn't bring the price of gas down or help make us energy independent...

...as the con men who support big oil keep telling us.

[Robb]

11. No, you're correct, it doesn't.

Like diamonds, when the producers control the available supply, standard economics doesn't apply.

[joeybee12]

2. In related news, Joeybee12 says New US Interior Scey needed...n/t

[polichick]

3. What a liar - any oil found goes on the global market. FIRE SALAZAR! nt

[ixion]

6. they're bound and determined to squelch alternative energy in order

to support their true masters.

[polichick]

7. Hopefully many will join Redford in holding Obama's feet to the fire...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=302859&mesg_id=302859

[icee]

8. Time for Salazar to go bye bye.

[Magleetis]

12. Meanwhile

Oceans and the life they support are not needed.

[Bobbieo]

13. Interior is still riddled with Bushies and Salazar has to go!!!

[Trillo]

14. A powerful argument for accelerating cleaner energy technology

development and adoption.

[G_j]

15. Fire Ken Salazar! nt

[Karenina]

16. For starters! nt

[florida08]

17. why don't they just put this crap to music already

It's not us who are adicted to oil. The price per barrel shouldn't even be where it is now. Am so sick of speculators dominating our economy, robbing it and us. There's over 4000 platforms in the Gulf now drilling every day. Fire Salazar. Start being honest with the American public by telling us what's really going on.

U.S. demand drops, but oil price still rising
http://www.ohio.com/news/nation/89861492.html

Crude-oil futures end at lowest in three months
http://www.marketwatch.com/story/oil-futures-drop-for-fourth-session-2010-05-14

BP PLC Tuesday awarded $500 million in contracts to drill wells in Iraq's giant Rumaila oil field, the first step in a mammoth initiative by foreign oil companies to revive the country's energy industry...

The new drilling contracts are the beginning of a long effort by a dozen of the world's largest oil companies to revive Iraq's decrepit oil infrastructure and turn it into a rival of Saudi Arabia for world's biggest crude exporter, industry officials say.

Iraq sits atop the world's third-largest supply of oil, after Saudi Arabia and Iran. Iraq has an estimated 115 billion barrels of crude-oil reserves. At current prices, that is valued at $9.5 trillion.

http://online.wsj.com/article/SB10001424052702303601504575154030706013588.html

BP's two biggest shareholders are UK@44% and US@39%
That's a mixtture of 33 institutions and 7 individuals in the UK and 25 institutions and 14 individuals in the US
http://www.bp.com/extendedsectiongenericarticle.do?categoryId=9010453&contentId=7019612

Would like to know who these individuals are