Conversely, the Moratorium on All New and Exploratory Drilling is Well Within President Obama’s Control
… unlike the continued gushing of crude into the Gulf of Mexico,
Glenn Beck and Pat Gray do an excellent job breaking down how this moratorium is a wild overreaction on the part of the president and how he may not intend to “let this crisis go wasted” but use it to pass Senator Kerry’s renamed yet still abominable cap-and-trade bill.
More to the point, the need for oil is not going away anytime soon, not even if the Magic Substitute Fuel Source were identified tomorrow. The effect of the president’s moratorium will only be to make us more dependent on the foreign oil suppliers that everyone condemns while needlessly draining the pockets of all non-rich Americans. (It occurred to me recently that most of the people calling for us to get off fossil fuels now! now! now! would not be financially impacted if we actually did follow that pointless and very rash course of action.)
Accordingly, this should be treated (heh) as a learning moment. For example, it would not be nearly as difficult to cap this well if it were not one mile under water, a condition successfully imposed by well meaning but misguided environmentalists. Accordingly, wouldn’t it make more sense for the moratorium to be solely on deep water drilling?