Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Thursday, August 25, 2011

Obama Shocks Oil Industry by Cancelling Exxon Mobil and Statoil Leases

Obama Shocks Oil Industry by Cancelling Exxon Mobil and Statoil Leases

Whatever one might think of the Obama presidency and the progress of the country or the direction the country is headed, the question is coming up more and more on whether the President has the best interests of the country in mind or serves his ideology first – a way to describe one kind of disruptive governing.
The administration has cancelled oil leases held by an Exxon Mobil and Statoil partnership.  The Interior Department, which regulates offshore drilling, says three of partnership’s five leases have expired and the companies haven’t met the requirements for an extension.  The confusion begins where
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