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Maybe now Obama will open up drilling for US companies in the Gulf. That would get gasoline to around 1.55-1.72 a gallon. Just think of how all of that disposable income would spur the economy. Maybe even get unemployment down to around 3.5 - 5%.
The entire time this incident was unfolding bp and Transocean continued to say this was the only drilling operation that had successfully finished drilling a well in this depth of water (5,000') in the Gulf of Mexico. Yet, on March 31, 2010, bp, Royal Dutch Shell, and Chevron USA, in a joint venture brought a new project to production, called the Perdido Spar, the world's deepest vertical access spar, 200 miles south of Galveston, TX and in 2450 meters (8,000 feet) of water, "with 22 vertical access wells from the spar, with an additional 13 tiebacks from 13 subsea completions." It is the largest oil production platform and the furthest from the US in the Gulf. At its peak it will produce 100,000 barrels of oil equivalent per day. Yet no one was told about it during the Deepwater Horizon incident. Not one word. Quoting from Shell's web site about additional projects underway, "The Noble Clyde Boudreaux platform drilled the production wells. We set a world record in December 2008 with the deepest completed offshore production well at about 2,852 metres (9,356 feet) below the water’s surface. Another well currently being drilled in the Tobago field will go deeper at around 2,925 metres (9,627 feet)." Is there anyone who believes we cannot have another incident like the 2010 oil spill? We can only wait to see.
Yet another "legalized payoff", displaying one of the advantages the corporate world has over the individual in a capitalist society! (If a person or non-corporate group tried to arrange such a payoff for their own personal interest, they would be put in prison for racketeering!)
g5thistime - are you saying that we should nationalize the oil industry? That's about the only way we would capture this oil in the gulf for our consumption. In case you're not aware, oil is a commodity that sold on the world market. Why do you think the oil industry pushed for Keystone? It was so they could get oil out of the tar sands in Canada and pipe it down to the gulf to be sent to markets in China, India, and South Korea. Besides, we should start to conserve this oil for the long-term. In case you are not aware, the consumer products and pharma utilizes quite a bit of oil. Then again, conservatives only care about cheap gas prices so they don't feel the pinch at the pump when refueling that '98 Ford Expedition.
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