Saturday, March 5, 2011

US Approves Deep Water Drilling Again: BP Gets the First Permit!

This gets classified in the "WTF" files! Less than a year after the worst oil spill in US history, and before we can even get the slightest grip on the long term effects of the ecological disaster that took place, the US government has decided deep water drilling can continue and of all companies, BP was issues the very first permit!!!!!

If you follow the news at all lately, one of the hot news topics on electric cars is the Presidents desire to assist the electric car industry with subsidies to lower the cost of the cars (rebates) and funding to help install public charging stations. This has been met with resistance from some who claim they want the market to determine which fuel wins for personal transportation.

That sounds like a valid point, but people either forgot or never knew the oil industry is tremendously subsidized. There are drilling subsidies, exploration subsidies, refining subsidies and more. Then these companies that make tens of billions of dollars in profits every year don't pay a penny of federal tax. That's right, not a penny! You and I pay tax on their end product and than pay our own personal income tax, but these huge, highly profitable oil companies they don't pay the US anything!!!

I'll stop clamoring for federal assistance for a technology that will help the environment, the US economy and strengthen our national security when the competing fuel stops getting hundreds of billions of assistance every year. Plus, I didn't even bring up the money spent and US troops killed in the wars we fight to keep the oil flowing freely and inexpensively towards the West.


  1. That is really incredible. BP's deep water drilling in the Gulf already...

    I really hope that there are strict safety guidelines in place now with extra redundancy.

    President Obama should divert some of the oil subsidy money and use it for EV subsidies.


  2. What a shame but I'm not surprised. Big oil has big connections

  3. thank you for pointing out the the oil industry had been reaping profits off the backs of the taxpayers for ever. We should take some of their subsidies away as you suggested and use it to build out a national smart grid where electric vehicles can not only take, but supply the stored energy they have back to the grid if needed.

    Edward James Jr

  4. It's stories like this that reinforce my decision to buy an electric car. Still not sure if it will be a pure EV or an extended range plug in like the volt though. I'd really like a four seat hatchback with about 125 miles of range or a plug in hybrid like the volt but for about five grand less before incentives and better gas mileage than the volt when the engine is running. It all depends on what is available in about three years when my car will be eight years old and time for me to get a new one. One thing is for sure, it will have a plug.

  5. Why do any of the oil companies get subsidized? They all make billions and do not need any help

  6. Tom, I agree 100-percent. Can't wait to get off oil for our cars, and switch to clean solar. With gas prices going up, up, up -- thanks to the instability in the Middle East -- maybe this will happen sooner than we think. Let's hope so.

    Wrote a similar column myself titled, "Why rising oil prices make me smile," a couple of days ago:

    Was kind of surprised that I didn't get more response, especially angry response for my "radical" views. Then again, only a complete fool would not see how stupid, and dangerous, it is that we've built a society that's so utterly dependent on a single source of fuel for pretty much everything we do.