WTI Crude

Loading...

Brent Crude

Loading...

Natural Gas

Loading...

Gasoline

Loading...

Heating Oil

Loading...

Rotate device for more commodity prices

Alt Text

This Oil Major Just Circumvented Sanctions On Iran

Iran is now officially pre-qualifying…

Alt Text

Texas Oil And Gas Output Continues To Fall

The Railroad Commission of Texas…

Darrell Delamaide

Darrell Delamaide

Darrell Delamaide is a writer, editor and journalist with more than 30 years' experience. He is the author of three books and has written for…

More Info

Gulf Oil Spill Threatens Halt to White House Offshore Drilling Plans

The oil spill in the Gulf of Mexico from a collapsed offshore drilling rig could affect White House plans to extend offshore drilling, press secretary Robert Gibbs acknowledged as the oil slick threatened onshore sites from the Louisiana wetlands to the Sarasota beaches and disrupted fishing and energy industries.

As oil giant BP mobilized resources to try to stop the leak and to mitigate its damage, President Barack Obama called the spill “potentially unprecedented environmental disaster.”

However, some critics charged that the administration’s slow response to the rig accident and Obama’s decision to take part in the humorous proceedings at the White House Correspondents Dinner as the disaster unfolded has been as bad as the Bush administration’s sluggish response to Hurricane Katrina and the subsequent flooding of New Orleans.

Florida Democratic Sen. Bill Nelson called on Obama to impose an immediate moratorium on offshore oil exploration. “Until we learn what happened, I’m asking that you also call for an immediate halt to test wells and all other exploratory operations in coastal waters,” Nelson wrote in a letter to the president.

Nelson also said he was filing legislation to block the Interior Department from going ahead with the White House plans to lease further sites for offshore exploration.

Freakonomics author Stephen Dubner asked in a blog whether the oil spill from Deepwater Horizon might be for the offshore oil industry what the 1979 accident at the Three Mile Island nuclear power plant was for the nuclear industry – stopping further development dead in its tracks.

“Could the Gulf disaster be just the kind of tragic, visible, easy-to-comprehend event that crystallizes the already-growing rush to de-petroleum our economy?” asks Dubner, who popularized behavioural economics with his book. “As we’ve seen before, public sentiment can generate an awful lot of energy on its own, for better or worse.”

The oil slick posed a more immediate disruption to the U.S. energy industry, as it threatened to close shipping lanes to oil imports destined for Gulf coast refineries and forced the evacuation of other oil and natural gas drilling rigs, sometimes with a shutdown in production. For now, the main pass into the Mississippi delta, the Southwest Pass, remains free.

By. Darrell Delamaide for OilPrice.com




Back to homepage


Leave a comment
  • Anonymous on May 27 2010 said:
    I would like to offer a short tutorial on hydraulics which might help some Cafe members better understand some aspects of the discussions about shutting down the flow of oil from the runaway well in the Gulf. I have no formal training in the areas I will address and welcome any corrections. What I know, and which I believe applies to a relief well, should be understandable by any shade tree mechanic who has worked on his auto's brake system or any person who has hooked a water sprinkler to their lawn faucet. All figures I use regarding pressure and area are arbitrary and made up for the purpose of an explanation.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News