Obama Orders Review of All Off New Shore Leases

Discussion in 'Politics' started by Flopper, May 1, 2010.

  1. Flopper

    Flopper Gold Member

    Mar 23, 2010
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    But what about the thousands of existing offshore wells?

    If the cut off value at the base of the BP well had worked, this would have been a minor ecological and financial disaster. But it didn't and the loses are going to be huge. Just how expensive would it have been to close the value occasionally to see it worked? The shortsightedness of BP will cost them billions. In fact their stock has lost 23 billion in market value since the fire. The people on the coast of Louisiana who are just recovering from Katrina are now faced with another disaster. If these multinational giants are not going to take the steps to avoid these ecological and the financial disasters then government must take action.

    Obama Orders Review, Says New Oil Leases Must Have Safeguards - Bloomberg.com
    Oil platform - Wikipedia, the free encyclopedia
    BP's Costs Mount as It Promises to Pay Claims - WSJ.com

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