Friday, May 28, 2010
Investors Business Daily
Here's my question: Why are we drilling in 5,000 feet of water in the first place? Many reasons, but this one goes unmentioned: Environmental chic has driven us out there.
As production from the shallower Gulf of Mexico wells declines, we go deep (1,000 feet and more) and ultra deep (5,000 feet and more), in part because environmentalists have succeeded in rendering the Pacific and nearly all the Atlantic coast off-limits to oil production.
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