Monday, July 12, 2010

First Rig Sails Away Over Drilling Ban

Obama knows that he does not have to win legally (which he is not) to get his way. All he has to do is maintain the uncertainty long enough for the businesses to shrug their shoulders and sale away.

http://www.chron.com/disp/story.mpl/business/7101738.html

"Diamond Offshore announced Friday that its Ocean Endeavor drilling rig will leave the Gulf of Mexico and move to Egyptian waters immediately — making it the first to abandon the United States in the wake of the BP oil spill and a ban on deep-water drilling.

And the Ocean Endeavor's exodus probably won't be the last, according to oil industry officials and Gulf Coast leaders who warn that other companies eager to find work for the now-idled rigs are considering moving them outside the U.S.
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