In 1995, President Clinton signed the Outer Continental Shelf Deepwater Royalty Relief Act which exempted oil wells drilled deep in the Gulf from the normal royalty payments they would normally have owed the government for their oil. Usually, these payments amount to between 12% and 16% of their revenues, so exemption from this requirement did a great deal to catalyze drilling in deep waters in the Gulf of Mexico. As a result of the Administration action, deepwater oil production in the Gulf increased rapidly, growing from 42 million barrels annually in 1996 to 348 million in 2004. The latter figure represents about 6% of total United States oil consumption and about 15% of domestic production. Natural gas production from deepwater Gulf drilling increased tenfold during the same period.
Clintons bills expired in 2000. The conditions of that bill were then altered and a new bill was passed in 2001 under GW Bush and a Republican majority congress, both house and senate.
The Horizon was not built prior to 2001.
Did you forget those inconvenient factoids Gumby?
So, what you are saying is, BP is one of the companies that didn't have to pay that huge royalty to the government. So , with all that money they saved, how come they couldn't put it towards safety features? How come they were cutting corners?
All Clintons law did was allow royalty relief for deep well drilling. Dickless Cheney is the one who removed the ultrasound safeguards abd preventer safeguards from 2003 legislation. Please tell the board the whole story, not just your little twisted view of reality with half truths and failure to mention all credible facts.
Clinton allowed the drilling. Further, while i am not familiar enough to comment on your post, if what was being done was irresponsible why was it not stopped with a Dem controlled house senate and President? If you are aware of it, certainly members in the Dem party were. They had 16 months before the spill and actually had control of the houses since o6. I think your post is a little lame at this point.
the truth was hard to believe.....hello? bush hater? where are you?
the reason you don't know....was bush rarely undo what previous administration has done...like obama....he pick and chose bush executive order to undo.