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 ...
Not merely the educational system.
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.
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.
Cheers!
Then, just why would they send in the SWAT team to all the rigs, hmmmm???
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
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.
I would not own GE. 10 year old BOP? Not good. How does GE own Transocean (RIG)?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.