(EMAILWIRE.COM, May 13, 2011 ) Las Vegas, NV -- Senate Bill 709 passes easily through the senate, with its focus on oil and gas. Domestic production leaders such as Source Rock Oil and Five Star Developments are not surprised, and offer International Journalism Review (IJR) the reasoning behind efforts.

As with any other bill, it now goes to the House where it is expected to sustain its momentum. The attitude toward energy is shifting, The Senate vote happened at an favorable time for fans of fossil fuels. Just last week, the U.S. House resurrected three bills that would encourage offshore drilling House Bill 1230, the “Restarting American Offshore Leasing Now Act,” sponsored by Doc Hastings, a Republican from Washington state, would open areas that are currently closed to offshore drilling—including waters off the Virginia coast.

Days later, U.S. Sen. Richard Burr of North Carolina proposed an assimilation of the Department Of Energy (DOE) with the Environmental Protection Agency (EPA), all but neutering the already weak EPA of its power.

If both state and federal measures should become law, they could work in tandem to open the state and region to drilling as if it were the new wild west. Domestic Oil and Gas producers and their investors would almost certainly proper, even if Obama was able to repeal some tax credits, which in turn would be deemed by many Americans as anti-patriotic.

The public relation spokesman for Source Rock Oil, Torker Rivera, explained to IJR the irony and possible controversy that the United States President has recently commented on, "President Obama on 5/3/2011 told the American people via Detroit TV station that he is calling on major oil producers such as Saudi Arabia to increase their oil supplies to help stabilize prices, warning starkly that lack of relief would harm the global economy." Obama said "We are in a lot of conversations with the major oil producers like Saudi Arabia to let them know that it's not going to be good for them if our economy is hobbled because of high oil prices."

Rivera continued and said, then Obama told the American people that he doesn't have a problem with any company or industry being rewarded for their success. Obama said "The incentive of healthy profits is what fuels entrepreneurialism and helps drives our economy forward. But I do have a problem with the unwarranted taxpayer subsidies we've been handing out to oil and gas companies – to the tune of $4 billion a year. When oil companies are making huge profits and you're struggling at the pump, and we're scouring the federal budget for spending we can afford to do without, these tax giveaways aren't right. They aren't smart. And we need to end them."

Five Star Developments spokesman, Ray Spearhead, told IJR, "So while one hand President Obama is asking for more production from other countries to whom the United States spends billions of dollars for oil every year, the other hand is taking cash away from companies who use that cash to increase domestic production of oil (and related jobs etc.). The ultimate outcome of course being more reliance on foreign countries for oil and fewer jobs at home.

Thank God it appears that the Senate is all but ignoring The Presidents input on these issues as they pursue proactive actions to reward domestic drilling and production and continue to make these speculations a great investment for 1000's of U.S. citizens."
IJR contacted Ciara Grace Greenman, a domestic energy expert and advocate, to give some insight on the Senate passage and the oil and gas outlook. Ciara told IJR this, "If I had to pick between putting my own money, let's say $1000, on a U.S Government Bond, a U.S. dollar value future, a reputable domestic oil and gas drilling opportunity, or buying a U.S. Coal tonnage, I would pick the ladder two. Oil, Gas, and Coal will prove a world necessity and the demand will continue to rise as the supply continues to go down."

Chris Sloan / Senior Journalist / M.S. showcases government

International Journalism Review / http://www.InternationalJournalismReview.com
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Chris Sloan / Senior Journalist / M.S.
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