Hopefully by now you’ve heard about the BP oil rig that more or less exploded in the Gulf of Mexico, killing some workers, burning, sinking into the gulf, and ended up releasing hundreds of thousands of gallons of oil into the gulf, per day. It’s a tragedy for the families of the lost workers, and an environmental disaster that if not contained quickly will become worse than the Exxon-Valdez incident.
I don’t want to talk about this very much, because frankly I’m tired and all the media coverage pretty much covers it. But I haven’t yet seen anyone talk about the biggest loser of all. Me.
Well, you too, and your boss, and babysitter, and the UPS driver that just dropped off my new shoes. Confused?
DRILL BABY DRILL!
The rig that went down was like the Titanic of the Gulf. It was one of the most advanced ever and was drilling at depths we hadn’t drilled at yet. It was essentially the future of offshore oil drilling in the US. I supported, and still support, offshore drilling. This is because I believe we should use what we got before we innovate oil into obsolescence.
So a shining star in the fleet of offshore drilling went down in a fiery blaze, taking with it dedicated American workers, and sparking the potentially worst environmental disaster of 21st century America. Anyone that had an issue with the drill baby drill movement has all the PR fodder they need now. So maybe “real” losers was a bad choice of words. BP loses big, anyone that lives on the gulf coast loses, and industries that rely on the gulf coast lose as well. And of course the loss of life is the worst of all. We aren’t the real losers, but it really wouldn’t surprise me to see some of the drill baby drill regulation repealed and closed down.
 By The Weakonomist |
The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice. |
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