McCrory: Offshore drilling a NIMBY issue?

So it would benefit Duke shareholders, but the company itself no longer has any holdings related to these pipelines? Is that correct?

That's not exactly deep into anything, especially drilling.

Duke Energy has been involved with large offshore natural gas pipelines in the Gulf of Mexico and Tasmania amongst many other gas distribution systems. McCrory specifically mentions the proposed "Manteo Project" for two reasons. It's location offshore allows him to say it will be out of sight. However the overwhelming bulk of energy predicted from this area, if any, would be natural gas, not oil. Because of Duke's prominence in the gas pipeline business such a project would likely benefit Duke shareholders.

In 2007 Duke Energy renamed and spun off two natural gas businesses, Spectra Energy and DCP Midstream with shares of Duke Energy and Spectra Energy distributed to Duke Energy shareholders.

DCP Midstream is owned jointly by Spectra Energy and ConocoPhillips and is "one of the nation's largest natural gas gatherers and processors, the largest natural gas liquids (NGLs) producer and one of the largest NGL marketers in the U.S. " It was previously know as "Duke Energy Field Services" a joint venture between Duke Energy and ConocoPhillips.

Gulf Stream Natural Gas System is owned jointly by Williams Energy and Spectra Energy.

Hey Jim, any evidence to support that "Duke Energy is deep in the off-shore drilling business" claim?

I always like it when I'm the nicest and most sensible person posting...nice to know the web is really "raising the bar" in our political discourse. Go team!

Hate to burst your bubble, but none other than OwlGore himself backed coal technology in his Senate and VP days, contributing much more to our current situation than anything the Bush admin. has done. Since January of 2007, with a Democrat-led Congress, the price of gas almost doubled. It never crossed $3/gallon here until Pelosi, Reid, and the other idiots took control. Since you want to mention subsidies, how about ethanol having a subsidy, a mandate, and a protective tariff against other, more efficient types of ethanol from Brazil? If the liberal hacks were serious about ethanol, why not get the best kind to have? Corn ethanol uses as much energy to make that it does to use, all the while wreaking havoc on the water table. Do your own research and step up your game, kid.

Someone needs to tell McCrory (and Etheridge) that speculators have nothing to do with the increase in the spot price of oil:
http://krugman.blogs.nytimes.com/2008/06/28/expectations-and-commodity-prices-even-more/

Are you really at UNC? Must be a freshman, because you sure haven't learned much about critical thinking.

Since the 1970s crisis, the oil industry has received hundreds of billions in incentives from every direction imaginable. It's no wonder no alternative energy source has been able to compete. And just because ethanol is stupid, doesn't make offshore drilling any smarter.

Because alternative solutions, that have been in the work since the Oil Crisis in the 1970s have come to reality. NO.

Ethanol, another "vaible" option according to the Al Gore's of the world are putting hundreds into poverty, since it is forcing the price of corn and other crops up.

This is a great solution that McCrory has spoke about and I am still waiting evidence that Duke Energy is calling the shots since Protzman seems to think so....where are the hard facts. Stop pandering and show us facts.

Duke Energy is deep in the off-shore drilling business, and Mr. Pat is deep in the pockets of Duke Energy. Neither has any stake in alternatives to the oil economy. Every successful program in green energy means less profit for them.

They know offshore drilling will do NOTHING EVER to reduce the price of oil. But it will help make them even more filthy rich than they are. And that's the bottom line, so to speak.

I have to agree with the mayor...driving a car DOES make you implicit in our oil/gas crisis. But if his solution is to drill in NC, then his knowledge, vision, and leadership for NC is SERIOUSLY in question.

I mean, if he REALLY wanted to show leadership and new vision in NC, he was propose bringing the "green" industry to NC, specifically in the devastated areas of our state where manufacturing jobs have left. However, if we were to bring the energy research centers and the battery/solar panel/biofuel manufacturing to NC...that not only helps our energy strategy here in NC, but also provides jobs!

...how about it, Mayor?