ALASKA! Three operations, mind you!, THREE!!!! I’m very excited about this because and I’ll reiterate folks, we aquired Alaska as a state for the oil! Shell has spent about $3.5 billion to explore and prepare for the drilling activity in the Beaufort and Chukchi seas off Alaska, but legal challenges and regulatory hurdles have prevented hte company from obtaining necessary approvals.
REPUBLICANS: Have stepped up calls for increased levels of domestic oil production as gasoline prices rise. Makes sense! It’s in our own country!!
DEMOCRATS: Want to repeal about $2 billion in annual tax breaks given to big oil and gas companies including Shell. They acknowledge that such efforts won’t bring prices down at the pump, but repealing the incentives will reduce the federal deficit.
How about cutting back on giveaways instead??