Wednesday, June 9, 2010

Job Loss, an unintended consequence of the oil spill "fix"

When you shut down all drilling in the gulf you are creating an extreme economic disaster. Those of us who live on the Texas and Louisiana coast are well aware of this.
This is from the Wall Street Journal.
The deep water drilling moratorium threatens Gulf state economies.
It's too early to know how far-reaching the economic consequences of the BP oil spill will be for the Gulf's seafood, tourism and related industries. What is clear is that the Obama Administration's response to the spill—in particular, its six-month deep water drilling moratorium—is threatening to make the Gulf's economic problems far worse.
The Administration might be forgiven for imposing a drilling moratorium in the early, panicked days following the Deepwater Horizon explosion. Less coherent was President Obama's announcement at the end of May extending that moratorium for six months in water deeper than 500 feet.
The link is here, but it may be behind a pay wall.

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