Good news for the folks in the oil business. White House has lifted the moratium on deep sea drilling in the Gulf of Mexico. Can’t reprint the AP article, so you can follow this link to CNBC to read the article:
I’m like most Americans I think on the issue of our dependence on foreign oil. This post isn’t about the pro’s and con’s of it. Actually there are no pro’s to dependence on foreign oil. We should be drilling for our own oil. I think fossil fuels have a place in our energy policy. That said, we need to do a lot better job cleaning up after our selves and not leaving ourselves to diasasters like what just happened.
And I think it’ll be a long time before things like wind turbines and solar panels will replace fossil fuels in any significant way – maybe never. So, we should be investing in making fossil fuels cleaner, more affordable, and safer. It’s the acres of diamonds approach to a degree.
But, most importantly, it may no sense to have a moratium on deep sea drilling – costing jobs and wrecking the local economy – when other nations are expanding or making new plans to drill in the same area. And giving money through EXIM bank to Mexico to drill?
If the White House could get all players to stop drilling, I’m all for that.
Here’s a link to an article in the St. Petersburg Times that looks at the half truths and possible outcomes on the China drilling off of Florida story:
11:50pm, 10/13 – Just read an interesting article in the San Antonio paper regarding China and oil in the Gulf of Mexico, the article link is: