Posts Tagged ‘Drilling Moratorium’

Drilling Moratorium and the Effects

Thursday, July 22nd, 2010

drilling moratoriumRecent events in the Gulf of Mexico have caused a drilling moratorium to be placed on all offshore drilling in the area. A drilling moratorium means that all drilling activity has been suspended by the government until further notice. The drilling moratorium has adversely affected drilling companies as well as workers who are no longer allowed to work in offshore drilling rigs as a result of the ban. President Obama has enforced a six-month moratorium on drilling for now. Many are upset with the seemingly arbitrary time frame. They are wondering why things will be different six months from now, why not ensure rigs are safe now and then allow them to continue working.

The Deepwater Horizon drilling rig experienced an explosion on April 20, 2010. Two days later the rig sank. Eleven workers died and many others were seriously injured. The rig was one of 33 offshore deep drilling rigs in the Gulf. It had a blowout preventer that failed. A blowout preventer is a series of valves that closes off the well in the event of a problem. The blowout preventer would have prevented gallons and gallons of oil from spewing out of the well and reaching land. Instead BP has been working tirelessly to correct the problem. This accident doesn’t mean that oil shouldn’t be drilled for or that all rigs are unsafe and an accident waiting to happen. America depends on its supply of oil. Without it we would be more dependent on other countries for oil to run our cars and trucks. We also depend on oil to produce plastics, asphalt, and petro chemicals. Eliminating our oil supply by continuing the current drilling moratorium would be devastating.

Oil is an important industry in our country. Finding a way to make the industry realistically safer is the way to go. Simply diminishing our supply will not solve our oil dependence. While the current drilling moratorium may prevent immediate accidents, it must be balanced with the economic problems of job loss. Unfortunately, the current moratorium has forced several rigs to leave the area. This of course equals job loss and increased economic downturn. So whats your opinion? Send Bob an email and let us know!