Word: rigging
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...past few years, governments and big oil companies plowed billions into exploring and developing new fields in Russia, Angola, Mexico, Brazil and Saudi Arabia - projects whose costs have more than doubled in the past few years, in part because soaring steel prices drove up drilling equipment costs and oil-rig rentals. Just as global demand has begun to slow, millions more barrels of oil a day from new fields have hit the world market...
...were more favorable before embarking on a multibillion-dollar pipeline project. But many Alaskans, accustomed to annual oil royalties, didn't want to wait on gas any longer. Nor did they want the Big Three to own the gas pipeline the way the majors owned the oil pipeline--or rig the tax bills they paid the state as the price of doing business there...
John McCain stood atop an oil rig in the Gulf of Mexico on Tuesday and proclaimed that he had the key to solving America's energy woes, slashing the price of gas, and unfettering U.S. foreign policy from its addiction to foreign oil. Drill. Drill here. And drill now. "Americans across our country are hurting because of the cost of energy," said McCain in a speech on the Chevron-owned rig. "It's time for America to get serious about energy independence, and that means we need to start drilling offshore at advanced oil rigs like this...
...rig was 100 miles from the Louisiana coast, but if McCain had listened hard, he could have heard environmentalists and Democrats grinding their teeth in opposition. As McCain repeats his drilling mantra, critics point out that there is far too little untapped oil in American waters to make a significant difference in gas prices, especially considering the vast and growing global demand for petrol. Besides, "drilling now," as McCain says, won't yield results for years, and offshore exploration still has serious environmental risks. (That last point was underscored by the timing of McCain's visit - his rig trip...
Then, when a hurricane blew away McCain's plans to visit an oil rig in the Gulf of Mexico, his campaign flew on to Ohio while Buckeye State Republicans scrambled to come up with events to fill the suddenly empty schedule. Going to the German sausage restaurant while Obama was in Berlin probably endeared him to a lot of voters in the central Ohio, a pivotal region in a key swing state where Schmidt's bratwurst are a point of local culinary pride. But the picture of him emerging from the joint with almost nothing to say while Obama...