SHELL SHOCKED DRILLING BAN
As gas prices continue to soar while President Obama tells the American people there is nothing he can do to solve the problem, the Environmental Protection Agency forced Shell Oil Company to scrap plans to drill in one of the most remote locations in the United States this week. Shell had planned to drill 70 miles off the coast of Alaska's North Slope in the Arctic Ocean, but the EPA denied the company a drilling permit after stating the company had failed to calculate greenhouse gas emissions in their assessment of environmental impact. Seems like the Obama Administration and the EPA have overlooked the negative economic impact of this decision. Before the decision by the EPA, Shell had invested nearly $4 billion in the project.
Meanwhile, President Obama has launched an investigation into evil corporations because he believes speculators and oil futures traders are driving the price of oil up through manipulation.
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