Obama`s decision on the new Atlantic Ocean oil exploration

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Obama’sdecision on the new Atlantic Ocean oil exploration

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TheFox News Channel reported that the Obama administration was on theverge of abandoning the plans it had for allowing the new offshoredrilling of oil on the southeast coast of U.S.The petroleum companiesreceived a big blow since they already had big hopes and wereprepared in tapping the new reserves. The Fox News Channelbroadcasted the announcement made by the Interior Department onTuesday that it will be auctioning off the rights to drill oil in theAtlantic Ocean waters.

KeywordsFox News Channel. Drilling, Petroleum companies, environmentalists

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Thereversal came after the environmentalists, the U.S military and thecoastal residents became very vocal towards opposing the plan. Duringthis time, the Obama government had to open a door to the possibilityof giving rights to small-scale exploration in the Arctic Ocean,which was opposed by the environmentalists.

Themove came despite the decreasing investment in the new oil drillingand the production operations. The petroleum prices have reduced byapproximately 70% since the end of 2014. The industry is also tryingall ways and means to ensure that they get an investment opportunitywhich is long term, still with the assumption that there will be aquick recovery in the oil prices.

Theenvironmental groups had a good reason to celebrate, upon receivingthe decision made by the Obama administration. Jacqueline Savitz, whois the Oceana’s vice president for the U.S, described it as anappropriate decision that will significantly promote the strategiesaiming at controlling climate change.

Thedecision made by the Obama administration, towards the rejection ofthe new Atlantic Ocean oil drilling, will be a prevention of thepollution from oil spills as well as the coastal industrialization.The seismic testing will turn out to be unnecessary and thus willpromote an option for clean energy solution, which is desperatelyneeded by the world today. The war between the very wealthy oilcompanies in the world against the environmentalists could only becomparable to that of David and Goliath, and the environmentalistswere very glad that the government stepped in and helped them succeedin their fight to protect the surroundings, Solomon,L. (2010).

Meanwhile,the Fox News Channel revealed that the Obama administration was toconsider giving the drilling rights to some of the oil companies, inthree spots in the Arctic, which would take place in 2017 to 2022.Theareas where oil drilling will be held include the cork Inlet,Chukchi, and the Beaufort Sea.

Thedecision has just come almost six months after Obama cancelled theArctic leases. Obama did not spare even the Royal Dutch Shell, whohad reported an amount of not less than $2.6 billion charge afterthey terminated their Alaska operations due to the predictablefuture.

Conclusion.

Environmentalsafety is more important than any other economic prospect that acountry might have. A clean environment free from pollution ensuresthat a country has a healthy population to serve in variouscapacities such as the military and other. The president beingmindful of his citizens is a great expression of his leadershipskills and qualities that he can forego anything for the bettermentof the citizens of his country.

References.

Solomon,L. (2010). The deniers: The world-renowned scientists who stood upagainst global warming hysteria, political persecution, and fraud.Minneapolis, Minn.: Richard Vigilante Books.