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U.S. District Judge Martin Feldman said in his ruling that the Interior Department failed to...

U.S. District Judge Martin Feldman said in his ruling that the Interior Department failed to provide adequate reasoning for the moratorium on deepwater drilling in the Gulf. He said it seemed to assume that because one rig failed, all companies and rigs posed an imminent danger. But an immediate spike in share prices of offshore drillers quickly subsides.
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Comments (13)
  • woollyB
    , contributor
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    Kudos to Judge Feldman. Whether or not we need more regulation (which seems always to be the solution to every problem), this moratorium would have been disastrous for the Gulf Coast.
    22 Jun 2010, 02:26 PM Reply Like
  • AxiosCap
    , contributor
    Comments (301) | Send Message
     
    We don't need more regulation - we need appropriate oversight. All of the "ills" that occur don't occur because there was some missing rule. They happened bec there was no enforcement through oversight.
    22 Jun 2010, 02:31 PM Reply Like
  • Anjum
    , contributor
    Comments (77) | Send Message
     
    At least someone has that rare commodity called 'commonsense' and is willing to use it !!
    22 Jun 2010, 02:31 PM Reply Like
  • dfbell
    , contributor
    Comments (1555) | Send Message
     
    Let me just ask a whatif question?
    Suppose the moratorium is lifted and another well blows out.

     

    Who pays for that one and just how much government resources are you expecting to react to it?

     

    Just asking...
    22 Jun 2010, 02:38 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (4284) | Send Message
     
    Life is risky. Life is about risk management, not blind emotion. There's no rational for the moratorium. It was political theater. The experts the Obama administration consulted were against it, but they were used as they were not aware they were going to be quoted as being for it.

     

    Why were planes allowed to fly three days after 9/11? Should we have not kept them grounded until the commission had finished the investigation and the TSA was up and running? My God you must have been terrified at the time. How did you cope?? Just asking ...
    22 Jun 2010, 02:53 PM Reply Like
  • dfbell
    , contributor
    Comments (1555) | Send Message
     
    OK Cinc, just asking.
    So accidents can happen. No government response is expected for the next one.

     

    <check>

     

    Was just thinking we should probably find out what happened at deepwater horizon. You know, maybe look into that second class BOP (which Brazilians were shocked to find out we allowed) and the blind shear that didnt function ...

     

    Those same pieces of equipment are used on several other deepwater wells.
    22 Jun 2010, 03:09 PM Reply Like
  • AxiosCap
    , contributor
    Comments (301) | Send Message
     
    If we lived life like that imagine what we couldn't do anymore. You can't live life in fear of the "what if".
    22 Jun 2010, 03:36 PM Reply Like
  • dfbell
    , contributor
    Comments (1555) | Send Message
     
    There is a difference between being totally frightened and prudent.
    22 Jun 2010, 03:41 PM Reply Like
  • AxiosCap
    , contributor
    Comments (301) | Send Message
     
    Of course there is, but you are talking about shutting down all offshore drilling because of one accident. How many have we had in the last 20 years? None that I can recall off hand. That's panic, not prudence.
    22 Jun 2010, 03:47 PM Reply Like
  • dfbell
    , contributor
    Comments (1555) | Send Message
     
    I agree we need to resume drilling, but only after we know what went wrong. And despite what the media is telling us, I strongly believe we dont have it nailed down. You think it was a failure in the blind shear? Or the concrete pour? Or ....?

     

    This is just like if a 737 crashed because the wings fell off. Doesnt happen very often but when it does, there is usually a period when all the 737s are grounded for inspections.
    22 Jun 2010, 03:56 PM Reply Like
  • Cincinnatus
    , contributor
    Comments (4284) | Send Message
     
    df, you're making a claim without backing it up. What's not being prudent? The rigs have already been re-inspected and deemed safe. The experts consulted have presented recommendations, which have led to new rules that Salazar has already said must be followed prior to re-start.

     

    Here's an example of prudent, from one of the experts consulted by the administration:

     

    Migrating Rigs

     

    The problem, Arnold says, is that the newest, most sophisticated rigs are in greatest demand around the world. They will go first, he says, leaving marginally less safe rigs in the Gulf. And, when the moratorium is lifted, the older rigs that have left will be the first to return.

     

    More important, says Arnold, is that many of the drilling rigs will be gone for three to five years, the normal length of contracts. That means U.S. rig crews will disperse or move to other industries. When the rigs return, the new crews will have less operating experience. Of course, new crews can be trained, Arnold says.

     

    "But it is marginally more risky to have a less experienced crew than to have a more experienced crew on the hour-by-hour, minute-by-minute decisions that have to be made on the rig itself," he said.

     

    Finally, says Arnold, the U.S. will have to import more oil because of decreasing production in the Gulf. That means transporting oil in tankers, which historically have accounted for far more oil spillage than well blowouts.

     

    Arnold says his group is talking with Interior Secretary Ken Salazar about making adjustments to the moratorium.

     

    "The recommendation that we're trying to make is keep the moratorium in place for certain high-risk wells, but not for other wells," he said.
    22 Jun 2010, 04:00 PM Reply Like
  • Speakeasy
    , contributor
    Comments (414) | Send Message
     
    I'm sure this administration will find a way to discredit and replace Judge Feldman just like they are doing to McChrystal.
    22 Jun 2010, 02:39 PM Reply Like
  • zorrow
    , contributor
    Comments (1464) | Send Message
     
    Yeah! And we need more nuclear testing. How do we know those bombs will actually work. Some International treaty. Screw that. And DDT was a great insecticide and if it got some birds so what, they eat our grain too, don't they. We need less regulation, less government. Let the market decide, it always knows best.
    22 Jun 2010, 03:53 PM Reply Like
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