Breitling Oil and Gas Morning Podcast #53 April 9th, 2012

Whenever President Obama isn’t misleading the American people about huge tax subsidies that big oil and gas receive, he’s usually hyping all the work hisAdministration has done to support domestic oil production.

This week Interior Secretary Salazar announced plans to speed up the review process for oil and gas companies seeking to drill on U.S. lands, the agency will implement a new automated tracking system that the Administration says can reduce the review period for drilling permits by two-thirds, and expedite the sale and processing of federal oil and gas leases. The idea is to get oil companies swifter access to public oil resources.  Obama claims this this is another step forward in his Administration’s efforts to reduce the nation’s dependence on imported oil, spur local economies and create jobs.  It’s a start BUT The administration needs to significantly reduce the unnecessary multiyear time frame for environmental reviews and open areas that remain off limits for responsible energy development. We will be waiting and watching.



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