Good job Trump, screw OPEC!

The Trump administration is putting more than 76 million acres of federal water up for lease in the largest offshore drilling initiative in American history.
Interior Secretary Ryan Zinke announced the massive lease sale, slated for March 2018, on Tuesday morning, and said the move is a key component of the administration's effort to tap U.S. energy reserves and reap the economic benefits that come along with them.

"In today's low-price energy environment, providing the offshore industry access to the maximum amount of opportunities possible is part of our strategy to spur local and regional economic dynamism and job creation and a pillar of President Trump's plan to make the United States energy dominant," Mr. Zinke said in a statement. "And the economic terms proposed for this sale include a range of incentives to encourage diligent development and ensure a fair return to taxpayers."

The 76.9 million-acre lease sale will include federal waters in the Gulf of Mexico, off the coasts of Texas, Louisiana, Mississippi, Alabama and Florida. The area up for lease is roughly the size of New Mexico, the Interior Department said.

Federal royalties from both onshore and offshore energy exploration dropped dramatically during the Obama years as environmental regulations hampered production on government-owned lands. Mr. Trump and Mr. Zinke said reversing that policy — and directing money to government coffers in the form of royalty payments — would be a top priority.

http://www.washingtontimes.com/news/2017/oct/24/trump-admin-offer-76m-acres-offshore-drilling/

GREAT lets stick it to the Saudi's big time and the ME in general. Now need to get more refineries in the US and the current capacity is limited. 

Quote from: nzone on October 24, 2017, 09:58:38 AM
GREAT lets stick it to the Saudi's big time and the ME in general. Now need to get more refineries in the US and the current capacity is limited. 

I agree, but the problem with refineries is two fold, one is permitting, the other is, they like the lack of competition, it helps keep gas prices up, more refineries means less profit across the board.
They need incentives, something I'd expect to see from this administration.

He just keeps lopping off chunks of the beast... this is a huge move.

Quote from: taxed on October 24, 2017, 10:19:24 AM
He just keeps lopping off chunks of the beast... this is a huge move.

Yes, this is a monster of a move. If by chance the Dims were to ever regain power, they would look evil in the eyes of the people for placing more restrictions on oil production, leading to even higher prices across the board.
We all know how the left hates oil.

Quote from: Solar on October 24, 2017, 10:02:07 AM
I agree, but the problem with refineries is two fold, one is permitting, the other is, they like the lack of competition, it helps keep gas prices up, more refineries means less profit across the board.
They need incentives, something I'd expect to see from this administration.

Agree and if incentives are going to happen they will happen under TRUMP ADM. permitting can be solved by TRUMP ADM. GREAT start though!

There will be lawsuits.  Just get those conservative judges in place, and that too will be short lived.

This is a big middle finger to the Saudis, Obama and the evirowackos.

Quote from: AndyJackson on October 24, 2017, 03:28:32 PM
There will be lawsuits.  Just get those conservative judges in place, and that too will be short lived.

Exactly my first thought.   We need McConnell to get off his butt and push those nominees through!

Quote from: The Boo Man... on October 24, 2017, 05:26:15 PM
This is a big middle finger to the Saudis, Obama and the evirowackos.

I can hear the conversation between Trump and the Saudi Prince. "Sure, I'll give you all the military equipment you want, but I'm still moving forward with my energy plans"!!!
The result? Saudi Arabia is selling off some of their oil interests for the first time in history.

Quote from: Solar on October 24, 2017, 05:49:09 PM
I can hear the conversation between Trump and the Saudi Prince. "Sure, I'll give you all the military equipment you want, but I'm still moving forward with my energy plans"!!!
The result? Saudi Arabia is selling off some of their oil interests for the first time in history.

Just want TRUMP to continue twisting that weapon until it is whole way in the Saudi Prince ______ ?