I had a wonderful email from Professor Athena today, who had this to share:
WSJ this morning points out that the moratorium and threats by AG Holder for criminal prosecution even as the administration relies on BP’s personnel, equipment, and expertise to clean up the BP oil spill (known as an ACCIDENT by those WITH a brain) has so far lost 80 BILLION in market for oil industry shares through Friday’s trading. The estimate came from independent oil analyst firm Tudor-Pickering. It also mentions that the moratorium alone will cost approximately 40,000 jobs by the end of the summer. There are 33 idle rigs right now as a result of this administration’s ridiculous knee-jerk reaction that will close completely down this week. BP’s loss so far is $990 million and climbing. This will very likely bankrupt the company.
Here is the Wall Street Journal article she cited: Spill Draws Criminal Probe
Tomorrow, my formal San Diego News Network will cover the environmental disaster that is Obama. One thing I note in the piece is that the oil industry, in combination with natural forces, have worked to decontaminate waterways contaminated with vast quantities of oil. Today, Popular Mechanics specifically lists the 10 largest oil spills — and describes the aftermath. Though the entire situation is deeply troubling, there is at least cause for hope. Some of the events described by Popular Mechanics include:
* Gulf War, 1991 – Kuwait Oil Fires
* Ixtoc 1 Oil Well, also in the Gulf of Mexico, 1979
* Atlantic Empress, 1979 — off the coast of Trinidad and Tobago
* Fergana Valley, 1992 — in Uzbekistan
Here’s an innovative solution the experienced drillers, the Russians, have suggested: Nuke that slick
It’s so simple, in fact, that the Soviet Union, a major oil exporter, used this method five times to deal with petrocalamities. The first happened in Uzbekistan, on September 30, 1966 with a blast 1.5 times the strength of the Hiroshima bomb and at a depth of 1.5 kilometers. KP also notes that subterranean nuclear blasts were used as much as 169 times in the Soviet Union to accomplish fairly mundane tasks like creating underground storage spaces for gas or building canals.
The Anchoress sums up the current events, and decides a drink is the best option. I am going to have to agree, though I hope that I have put some needed perspective into the Gulf of Mexico crisis.
Professor Athena further opines:
This would be so much fun if our federal government were not so auspiciously unable to perform. Instead of actual help, we have investigations filed on behalf of the justice department and LAW SUITS brought into the equation, threats of more action and ‘cease and desist’ orders by the EPA, etc. These are people who cannot make a basic decision such as, “Should we or should we not dispatch the national guard or other federal assistance to erect booms and other shoreline defense against the oil spill”? Or, “Should we allow chemical dispersants in the waters in hopes of keeping the worst of the damage offshore”?
They cited instead “liability”.
Interesting that they understand liability from ONE side (theirs as plaintiff) and when liability stands in the way of HELP for those who might suffer effects of what is a disaster, well this administration can’t be bothered. This event occurred in federal waters where they have jurisdiction and authority. Imagine if the Bush administration had refused to provide help and assistance to the morons in the Superdome (who were after all shooting at them) citing “liability concerns”. What would Katie Couric have said about that type of liability inhibition, one wonders? BP is supposed to do EVERYTHING to STOP this leak, and EVERYTHING can mean they make the situation worse, something they warned they feared if pressure mounted to “do anything at all costs”.
They are damned if they do, even more so damned if they don’t. If I were their CEO right now, I would close the whole operation down, cite “liability concerns that further intervention could indeed make what is already a bad situation worse” and take my chances. Whatever chance the company has to continue is more than likely better going forward than if they document more attempts to salvage the situation at their expense to allow our federal government to address the only side of the liability situation they understand. This reminds me of punching out the guy trying to save your sorry ass from drowning!