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February 16, 2011

Seahawk Drilling: Obama's War on Energy Claims Another Victim

Posted by Dave Blount at February 16, 2011 10:51 AM

We can no longer say that B. Hussein Obama has never accomplished anything. His policy of restricting off-shore drilling is producing results:

Seahawk Drilling Inc. said it has filed for bankruptcy protection and plans to sell its fleet of offshore drilling rigs to a competitor for $105 million.
Seahawk, which announced the deal with Hercules Offshore Inc. Friday, has been hurt by a slowdown in Gulf of Mexico drilling after the BP oil spill last April. The government halted drilling in deep waters and imposed tough new rules that have curtained all energy exploration in U.S. waters.

Oil prices are high and will go much higher, if the spreading instability in the Middle East is any indication. Yet our government is forcing domestic oil producers into bankruptcy. Don't expect anyone in the establishment media to see a problem with this.

It's unclear what will happen to the company's 494 employees, spokesman Thomas Becker said.

Less than 500 thrown out of work? That's peanuts by Obama standards. He was willing to knowingly kick 23,000 into the ranks of the unemployed with his Gulf drilling moratorium.

At least the Moonbat Messiah is keeping one promise. He did say before the election that he would cause energy prices to skyrocket. Yet for reasons beyond my comprehension people voted for him anyway.

If only Obama's domestic policy were as ineffectual as his foreign policy.

Another casualty of Obamunism.

On a tip from Kevin R. Hat tip: Gateway Pundit.