OIL...YOU BETTER SIT DOWN FOR THIS ONE!

[Circlehook]

There is plenty of safer to drill oil in the gulf nearer shore than the deepwater wells, but just like the windfarm here, noone wants to see an oil well from the porch of their 10 Million dollar waterfront property.

Most of the mile deep wells are a product of the Clinton era bill to not charge royalties to the oil companies if they drill a certain distance away from the coast. This makes it much more profitable for the oil companies, but as we now see, much more dangerous.

[spence]

Originally Posted by Circlehook

There is plenty of safer to drill oil in the gulf nearer shore than the deepwater wells, but just like the windfarm here, noone wants to see an oil well from the porch of their 10 Million dollar waterfront property.

Most of the mile deep wells are a product of the Clinton era bill to not charge royalties to the oil companies if they drill a certain distance away from the coast. This makes it much more profitable for the oil companies, but as we now see, much more dangerous.

From what I've read, the trend towards deepwater drilling has less to do with environmentalists and coastal issues and more to do with the fact that that's where the bigger reserves are.

-spence