Can the Gulf Oil spill be used to help the oil & gas industry?

No one thought 2010 would be an easy year for the oil and gas industry.

With likely the most anti-oil and gas president in office, and control of both the Senate and House in the hands of Democrats, who time and time again claim the industry makes outrageous profits hurting Gulf Oil Spill - Deepwater Horizon rigthe economy and protest the ability for local operators and legislators to enforce and abide by safety regulations, those fighting for the industry knew they’d have an uphill battle to climb to keep bills off the table that restrict and hinder the energy production in America.

From legislation tackling cap and trade to fracing regulations, oil taxes and moratoria on drilling, operators and producers in every state have had to work hard to protect their businesses from environmentalist fanatics and misinformed residents.

While many states have been successful in educating the public on the merits of a productive oil and gas industry for not only the state’s economy, but the nation’s, BPs monumental Deepwater Horizon well’s explosion and consequential leak, sparked a national outrage and refueled the fire for the government to again try to push bills through that have been stalled by their opponents.

Everything from the resignation of BP’s CEO to billions of dollars of restitution and fines, and a moratorium on deepwater drilling in the Gulf has been expressed. Senators Joe Lieberman (I-Conn.) and John Kerry (D-Mass.) pushing for cap and trade legislation to control greenhouse gas emissions and in its current format, will lead to higher energy prices for consumers and businesses, are using the supposed environmental disaster of the Louisiana gulf spill to force the legislation through Congress.

But despite all the media coverage that showed 24/7 footage of oil seeping out of the well and those claiming penance be paid, what if it wasn’t such an environmental disaster as claimed?

An article on Commodity Source’s blog by Gary Thomas offers interesting insight into how un-disaster-like the Gulf oil spill appears to really be.

Here’s an excerpt of his recent post:

The hype of the media over the unproven assertion the BP oil spill was an environmental disaster brings into question their integrity, research and sources, as now that the oil spill has been contained, the amount of oil in the Gulf has been found to be minimal, and the alleged damage to the coastlines and animals far  less than originally reported and thought.

Many scientists and university professors are now calling into question whether the idea that this is really an environmental disaster is true. Facts are beginning to reveal that it isn’t even close to that.

Two examples of that as far as wildlife goes, are the total deaths of three dolphins. That’s not a misprint or guess, that’s the total count wildlife rescue teams found. And when compared with the damage from the Exxon Valdez in Alaska, the number of birds perishing has been less than one percent of that disaster.

While there has been some damage to coastlines, again, it is far less than it was thought to be, undermining the environmental disaster narrative that was assumed but never proven. Now we know it’s not true at all, when measured by the degree of hype.

Read the rest of the article here.

What do you think? Even though we are an oil and gas accounting software company, and not an operator or producer like most of you, I still can see how devastating it could be to our industry if public opinion is left unchecked and controlled by the media and government. Is there a way to sway public opinion on the importance of our industry?


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