posted at 10:45 am on October 19, 2011 by Jazz Shaw
Good news, domestic energy fans! After extraordinary delays, it
looks like there will finally be some energy production activity in the
Gulf of Mexico once again. This time it’s in the fertile fields to the
south and west of Florida, employing some brand spanking new deep-water
drilling rigs with all the latest technical features. This is terrific,
and I’m sure you’ll all join me in congratulating President Obama for
moving forward with this much needed expansion of …
What’s that? We’re not the ones doing the drilling? Then who is?
Oh, for crying out loud.
The government is doing what it can to ensure that the
first full-scale oil exploration in Cuba’s part of the Gulf of Mexico
will not endanger Florida’s pristine beaches that lie only miles away,
the top drilling regulator told lawmakers on Tuesday.
But the assurances did not completely convince senators at a Capitol
Hill hearing that the United States would be prepared to respond to a
worst-case oil spill scenario in waters controlled by its long-time
The Cubans are partnering up with Spanish energy producer Repsol YPF
SA and preparing to move a large, semi-submersible ocean going rig built
in China into the gulf. They’ll be drilling roughly sixty miles off
from the Florida Keys. Given the wide dispersal of that field, we could
have already been tapping into those resources, but apparently the oil
will go elsewhere. But fear not, sports fans! The president has a plan.
He’s going to inspect the rig.
I’m sure that makes everyone feel better. More from The Hill.
“Before the end of the year, a Chinese-made drilling
platform known as Scarabeo 9 is expected to arrive in the Gulf. Once it
is there, Cuba and its foreign partners, including Spain’s Repsol, will
begin using it to drill for oil in waters deeper than Deepwater
Horizon’s infamous Macondo well. The massive rig, manufactured to
comply with U.S.-content restrictions at a cost of $750 million, will
cost Repsol and other companies $407,000 per day to lease for
Both politically and economically this is a worst case scenario for the White House. If shoddy safety measures do
wind up resulting in a spill, then we look entirely powerless. And
either way, all talk of restricting exploration in that region flies out
the window if somebody else can simply come along and do it. The energy
and jobs we need at home are paraded almost literally in front of our
faces as they waltz out of our country. It’s a serious black eye for
this administration no matter what happens in the years to come.
The resources are there. Somebody is going to get them. Jobs will be created. Profits will be earned.
Just not here in the United States.
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