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Louisiana Spill: Big Oil's Chernobyl?
Investors.com ^ | April 30, 2010 | INVESTORS BUSINESS DAILY Staff

Posted on 04/30/2010 5:18:32 PM PDT by Kaslin

Energy: The administration has banned new offshore drilling until the Gulf oil spill is investigated. Was its heart in it anyway? It seems environmental concerns apply only to certain forms of energy.

No one pays much attention to the aquatic "dead zones" that have appeared off our shores at the mouths of our rivers due to agricultural runoff created by mandates for corn-based ethanol. Ethanol is green energy, good energy — never mind that such biofuels drive up food prices, increase hunger around the world and damage the environment in their own way.

The explosion that blew apart an oil rig off Louisiana's coast is far more dramatic and makes for better television. The resulting oil spill is a legitimate concern, as it threatens marine life and local economies. Our concern is that it will do more damage as a bludgeon that forever ends hopes of expanding domestic oil production.

President Obama on Friday announced the suspension of all plans for new offshore oil drilling until authorities learn what caused the explosion of the rig Deepwater Horizon in the Gulf of Mexico. Recently he had declared to great fanfare that certain offshore areas would be open to drilling.

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; Front Page News; News/Current Events; US: Louisiana
KEYWORDS: bigoil; biofuels; bp; bpspill; britishpetroleum; cameron; chernobyl; crude; crudeoil; deephorz; deepwaterhorizon; domesticenergy; domesticoil; domosticenergy; drillbabydrill; drillbarrydrill; drillgate; drillheredrillnow; drilling; drillingban; drilllikebrazil; energy; energyindependence; energypolicy; energyprices; environment; ethanol; foreignoil; gulf; gulfofmexico; gulfoilspill; halliburton; ibd; katrina; louisiana; obama; obamaskatrina; offshoredrilling; offshoreoil; oil; oilprices; oilrig; oilslick; oilspill; oilsupply; peakoil; petroleum; slowtorespond; solarpower; spill; threemileisland; transocean; wind
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To: Mr. Jeeves

Not merely the educational system.


81 posted on 05/01/2010 9:06:35 PM PDT by RobbyS (Pray with the suffering souls.)
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To: Political Junkie Too

A bit like that mine explosion that killed about 30 people. Inherently dangerous, like a soldier going to war or a surgeon operating on someone’s heart, or a ship moving ay high speed among icebergs. Every great endeavor sometimes ends in failure. Our task is not to lose heart.


82 posted on 05/01/2010 9:14:56 PM PDT by RobbyS (Pray with the suffering souls.)
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To: CyberAnt; danamco; All

What part of “being creative about conspiracies”, and “flesh out this fantasy” didn’t you understand. Furthermore, while we are linking Cheney and Halliburton, I got the impression in the later years of the Bush Administration that Cheney may have gotten frustrated with the Halliburton scandals on procurement and delivery contracts. I got the feeling he was distancing himself. Feel free to give me facts if I am mistaken.


83 posted on 05/01/2010 10:10:37 PM PDT by gleeaikin
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To: LucyT
Where's the "Just Damn" pinglist?

Cheers!

84 posted on 05/01/2010 11:27:08 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.http://www.free)
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To: thouworm; LucyT
Firsthand report from a highly credible survivor— accident.

Then, just why would they send in the SWAT team to all the rigs, hmmmm???

85 posted on 05/01/2010 11:42:37 PM PDT by danamco (")
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To: CyberAnt; mlocher; Cedar; danamco; Frantzie; Ingtar; All

Here is a Market Watch story of the oil spill. There are a number of detailed/knowledgeable comments. One comment said GE’s Transocean Ltd. (RIG)/Cameron International were involved in the rig blow out preventer (BOP). Someone said Cameron made it, RIG responsible for upkeep of the BOP (10 years old), Haliburton had just poured the concrete. Wouldn’t you know it, BP and GE are the only stocks I own. :-(

http://www.marketwatch.com/story/exxon-valdez-and-the-birth-of-credit-default-swaps-2010-05-03


86 posted on 05/03/2010 11:42:36 PM PDT by gleeaikin
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To: gleeaikin
Thanks for the information. Sorry about the stocks -- but long term you should be ok. The MSM is spinning this as best they can to make Obama look as good as they can. GE naturally is going to get a pass; only the name Transocean will be used in reports. Haliburton of course gets tossed in as a major culprit because they are EVIL, not just EVIL, but Cheney EVIL.

The other side of the story is Obama standing up and saying BP is to blame. Since when is he a member of the Judicial Branch of our government? I believe that we have courts to interpret the law and contracts to determine which companies will be responsible for which portions of the damage.

In my mind, the big story is how the Obama administration is playing the blame game for political gain.

87 posted on 05/04/2010 5:47:56 AM PDT by mlocher (USA is a sovereign nation)
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To: gleeaikin

I would not own GE. 10 year old BOP? Not good. How does GE own Transocean (RIG)?


88 posted on 05/04/2010 7:24:27 AM PDT by Frantzie (McCain=Obama's friend. McCain/Graham = La Raza's Senators & Estefan-Rubio)
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