The Key West paper reports that Cuba will be drilling offshore of the Florida Keys sometime next Summer as we sit idle due to the Obama moratorium on offshore drilling...By next summer, a huge semi-submersible oil rig is expected to be stationed about 40 to 50 miles from Key West for deepwater drilling to explore for oil in the Straits of Florida.
The rig is part of a vast international business operation. The vessel was made in China, it’s owned by the Italian oil company Eni SpA, and it will be operated by Repsol, Spain’s oil and natural gas firm, which is also leasing the area known as the Jaguey from Cuba to look for oil.
And now the Obama administration is striving to raise taxes on Oil & Natural Gas operations who already pay an enormous tax rates when you look at it...
This week, the American Energy Alliance issued a new report quantifying the dire impacts of proposals aimed at hiking taxes on oil and natural gas companies.
As reported over at the energy tomorrow site...
Americans overwhelmingly oppose raising taxes on America's oil and natural gas industry, and most believe higher taxes could kill jobs. According to a survey commissioned by API and conducted by Harris Interactive, 62 percent opposed an increase in taxes on the industry, and 60 percent said it could destroy jobs.
