Seeking Alpha

Sure, the deepwater drilling ban has been lifted, but getting rig operators back into the Gulf...

Sure, the deepwater drilling ban has been lifted, but getting rig operators back into the Gulf isn't that simple. The government itself says it could take weeks for companies to get approval under newly-strict regulations, while the potentially heavy costs of compliance could force smaller firms to stop operating in the Gulf altogether.
Comments (6)
  • BPYHO
    , contributor
    Comments (230) | Send Message
     
    Oh know, weeks!?
    13 Oct 2010, 07:56 AM Reply Like
  • frosty
    , contributor
    Comments (683) | Send Message
     
    So the authors are opposed to more stringent safety requirements? There seems ample evidence they are needed. Congress also needs to act on requiring full liability for the oil industry so as to shield taxpayers from footing any of the bill for mishaps. Every other business I can think of has this responsibility but the oil industry's libility is capped. I understand there is a following for 'less government intrusion', however there are many areas where more is needed and this is one. BP disrupted the lives and livelihoods of millions of people and thousands of businesses and if more regulation will help prevent recurrences then it is a good thing. One business should not be favored over the thousands and millions.
    13 Oct 2010, 07:59 AM Reply Like
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    This is the point of our "green" future:

     

    "...while the potentially heavy costs of compliance could force smaller firms to stop operating in the Gulf altogether."
    13 Oct 2010, 08:17 AM Reply Like
  • frosty
    , contributor
    Comments (683) | Send Message
     
    If they can't afford to be in the game, they shouldn't be allowed to play.
    13 Oct 2010, 08:30 AM Reply Like
  • Duude
    , contributor
    Comments (3339) | Send Message
     
    Doesn't that mean more market share for the bigger players who also happen to have greater lobbying power? I'm sure BP, Chevron and Exxon would have your vote.
    13 Oct 2010, 10:10 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    "Every other business I can think of has this responsibility but the oil industry's liability is capped."

     

    Government has a cap..so why shouldn´t business....you can´t sue your governments.....

     

    we will lose 50% of the rigs.....to many other countries want to grow their economies.Their wealth..not destroy it like the USA
    13 Oct 2010, 08:43 AM Reply Like
DJIA (DIA) S&P 500 (SPY)