Drilling Moratorium News Today

The benefits of banning drilling are far outweighed by the economic costs of hamstringing Gulf water drilling operations.

For it, sandra. i just heard jen psaki in the press conference come back with the same old tired talking point that you know, oil companies arent drilling on the leases that they have and that shows a total misunderstanding on how oil leases work. number one, of course, they went out and bought leases and then all of a sudden the environmentallists went to the court, biden court, said put on a new drilling moratorium to look at that, and misunderstanding of how the leases work. its sort of like ...

The dirtiest, and we forget about what we have. they talk about encouraging energy in this country and theres a practice and it isnt quite that easy. >> it isnt. and even venezuela, you know, they are the biggest proven reserves, but it may take years for them to be able to raise production, even if we lifted sanctions on them today. neil: right, right. >> listen, this is an administration that really doesnt understand the energy industry. they really have no clue how it works and their regulati...

For pumping more oil as he demands, and phil says we are getting drilled. it is remarkable, phil, but we are interested in getting oil from outside sources but not here. >>guest: that is right. and i will tell you what, last year the president said we want to buy your oil but what message did that send to the oil industry? the u.s. oil workers and the people that are out of jobs? he is saying we want to create jobs, we want to, at home, ham string our u.s. energy industry and take away the so-ca...

Across the country how this administration has shown determined disregard for the law. and that is a phrase that came from one of the judges that the 5th circuit court of appeals upheld when they were having to deal with the obama administration flaunting the law on the drilling moratorium. they know how it operates and they are making them pay a price and its a good thing. >> this is unprecedented because it is in the middle, you know, the court hasnt even decided here. and he can make his opin...

Talking up a drilling moratorium in the gulf. but it turns out the recommendation for that moratorium was based on misleading information and house republicans are now demanding answers. our chief national correspondent jim angle is live with more in washington. jim. >> reporter: hello megyn. youre right republicans on the natural resources committee want subpoena toss find out what really happened on two key issues, one of them, the one you just mentioned, they charge that political appointees ...

Engla england. the dow opens at 12,977 after losing two points on friday. the s&p lost four points. nasdaq was down 12. taking a look at overseas trading this morning, in tokyo, the nikkei fell 78 points, while hong kong, the hang seng dropped 296. in wall straoerbgts all-important monthly jobs figures due out friday could keep were some investors on the sidelines. expectations are high for februarys jobs report after weekly claims data has steadily improved for nearly two months. trader...

Of the gulf of mexico. would that not help. >> reporter: it definitely would help. we are at about 2.85 a gallon. the price of oil was at $85 a gallon. to say that the obama administration is totally being controlled by outside forces when it comes to gasoline, that is partly true, but partly not true. the obama administration, of course, has put new regulations on refineries, they put on a drilling moratorium, khroed do slowed down the production of the keystone pipeline theyve froze that. just...

Energy sources. he doesnt want old energy sources he wanted new energy sources. >>neil: i want to be clear, his ad includes oil and that sort of thing looking at whole oil equation, but, but, but, that was my next question, you dont think that his actions match that ad? >>guest: no, in fact, when he made his speech about killing the keystone pipeline he said well under my administration oil and natural gas production has gone up but that is not because of him but in spite of him. the energy indu...

Their equipment at deep water horizon? >> well, bp does not have a lot of best friends in this area right now. but on the other hand, i dont think that anyone thinks that all of the executives of bp sat around a board table last year and said, i know what well do. well have a big explosion and a big disaster. so its not in their interests either to have such a terrible thing happen because its expensive for them. and, of course, its a dreadful thing for us on the coast. so like them or hate him,...