Thursday, April 19, 2012

Imagine That!

Exxon will be drilling in the Arctic Ocean after all--with the Russians.
Exxon, Rosneft unveil $500 bln offshore venture
MOSCOW (Reuters) - U.S. oil major ExxonMobil and Russia's Rosneft unveiled an offshore exploration partnership on Wednesday that could invest upward of $500 billion in developing Russia's vast energy reserves in the Arctic and Black Sea.
Imagine that. The worlds largest oil company, unable to drill in the offshore waters of the US of A, finds somewhere where it CAN drill for oil and continue to make a profit. Since when is Russia more inclined to capitalism than the US of A?

Now imagine how many how many Americans would have been employed by such a venture if Exxon had been permitted to drill in the waters off the coast of the US of A.

 Imagine how much income tax those high paying jobs would have produced. Imagine the royalties paid to the treasury from the oil extracted.


(I wonder if Sarah Palin Tina Fey will be able to see any of the oil rigs from the coast of Alaska?)

(h/t to Don Surber)

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