Paul Jay's Ponderings

The reason why the U.S. government has been quiet in regulating wells in the Gulf of Mexico is that basically it has been colluding with the companies based there. There's actually a whole lot more carrying capacity in the gulf wells than we've been letting on. (From my understanding, a person I knew that used to do wildcatting said a lot of the wells that were capped in the 1980's still had more than good output capacity.) This is so we can go about milking the oil supply out in the rest of the world while we quietly sit on a nearby reserve.

Unfortunately with the screwup that's happened, the chickens have come home to roost so to speak. Hopefully they'll get it capped, but there really needs to be more investigation into what has been going on there. The environmental cost may be more than what that oil is worth.

Labels: disaster, gulf of mexico, oil, peak oil, well