jack kreg

Oil: The Inconvenient Truth

appreciate your article on energy and related policy issues.
One gets an uneasy feeling seeing a majority of our off-shore oil reserves smack in the middle of hurricane alley.
We are so vulnerable to a 100 year storm, CAT 5, taking out 1/2 of our oil/gas production, small as it is.
Anyone with any experience in risk management, would immediate decide that other off-shore areas should be incorporated into our production fields.
CA, Alaska and the east coast come immediately to mind.
The other point is that we dont drill in CA for fear of a leak, and we have not ever had a CAT ? storm. Given that the rigs in the gulf survive CAT 2 or 3 storms every year and leaking is hardly an issue, the hesteria in CA is much to do about nothing, given todays rig technology.
Finally, it turns that NOT drilling in the off-shore of Santa Barbara, CA, causes oil leakage from the oceans surface that would end if the reserves were taped and the pressure releaved. To the point where the locals, who are hardly "drill friendly" have actually voted to have production be turned back on and the pressure releaved to elimenate leaking from the ocean floor.
thanks for article.