I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.- Thomas Jefferson.

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Wednesday, June 9, 2010

It’s The Greens That Sowed The Seeds Of The Gulf Oil Disaster

It's almost funny. Every time I see someone from the liberal left or a Democrat on any news program, when asked about any of the current administrations failures or lack of progress, I know what the first sentence out of their mouth will be. "It's Bush's fault." Now don't paint me into the Republican corner, I don't think Bush was a good president either, and I don't think the republicans have much to offer either, but come on Dems. "It was Cheney's oil policies that caused the Gulf oil spill!" "We inherited these economic/financial problems!" "It's not our fault!" The Dems increasingly sound like whiny children, not leaders (of course, leaders are the last thing I want.)

Do you want to know whose fault the oil spill was? It was the "Greens", throught the law of unintended consequences.

(Excerpt w link to full story)


The Greens Made Us Drill So Deep

Last January I wrote about the problems and costs of drilling for oil at such extraordinary depths as those being worked off the coast of Louisiana. It was called The Deep Truth About Oil and the Gulf of Mexico.

In that column I said: “Chevron has spent 10 years and a whopping $2.7 billion for this project. This is the cost of running a drill and casing more than 30,000 feet through earth and ocean, the same distance that an airliner flies above the earth. Chevron will spend billions more and in the end, even with all the high-tech in the world, there are no guarantees that its deep-water experiment will hit pay-dirt. In fact there is less than a 50/50 chance that Chevron’s latest deep-sea adventure will yield anything. Still Chevron and their brethren don’t have a choice.

“The Wall Street Journal sums up the situation: ‘Big easily tapped oil fields close to shore have become off-limits.’”

Fast forward a few months and we saw the real danger in not drilling in shallow waters and places like the Arctic National Wildlife Refuge (ANWR). We see what happens when Big Oil is forced to drill in 5,000 feet or more of seawater; depths at which accidents can’t be easily repaired.

I’ve been talking to my friends in the Alberta oil patch about this for weeks. But the problem didn’t see the light of day until the May 29 episode of Meet the Press. There Host David Gregory asked White House Energy Adviser Carol Browner if in response to the Gulf Coast oil spill, America should start drilling in ANWR.

Gregory asked: "Is the problem that we’re drilling in water that’s just too deep?"

Gregory continued: "Should you (the White House) even rethink your own approach to the environment to say… maybe in the Arctic Wildlife Reserve; we ought to be drilling there… we ought to be going into shallower waters so that this can be done more safely?"

Incredibly Gregory wasn’t given an answer. But even I know this simple truth—that we need to be drilling in shallow water and places like ANWR. Places where accidents can be corrected.

Don’t expect any leadership on this from the President even though his decision to suspend deepwater drilling off the U.S. coast will have consequences.

“An extended moratorium on safely producing our oil and natural gas resources from the Gulf of Mexico would create a moratorium on economic growth and job creation,” said Jack Gerard, chief executive of the American petroleum Institute.

It’s worth noting that the Gulf of Mexico currently produces about 1.6 million barrels of oil per day—an amount larger than the output of Canada’s oil sands. It was expected to grow to 1.9 million barrels by 2025. But the jury is out on this until Obama—"The Chosen One"—chooses leadership over politics and stops this catastrophe.

Yours for real wealth and good health,

John Myers

Myers’ Energy and Gold Report

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