By: Joseph Hogue of Street Authority
In his six years in office, President Obama has stressed his support for strict environmental regulation. He has expanded powers for the Environmental Protection Agency and has repeatedly deferred approval for the Keystone XL Pipeline System.
One key stat: The number of oil and gas leases approved during the first three years fell by more than 40%, compared to the final three years of President Bush’s administration. Drilling permit approvals on federal lands fell by a similar amount.
In addition to the regulatory headwind, falling oil prices are also impeding drilling permit activity. Against this one-two punch, some analysts are questioning the emergent theme of U.S. energy independence and shale production.
But is an unlikely supporter about to throw the sector a lifeline? Continue reading "A Presidential Order That Could Save Energy Drillers"