Demand for oil is not going to dissipate
Published 12:29 am Sunday, May 9, 2010
Uncertainty has been the only certainty since the Deepwater Horizon oil rig exploded, killing 11 people, and later sinking 50 miles off the Louisiana coast.
Well, there have been two other certainties: Politicians trying to have it both ways and a rush to recoup damages from BP Oil, which has admitted responsibility and has made repeated pledges to pay all legitimate damage claims.
The explosion and sinking tore three large holes in a riser pipe that had connected the rig with the wellhead more than 5,000 feet — almost a mile — beneath the surface. That pipe, still connected to the wellhead, now is on the ocean floor, spewing about 5,000 barrels of oil a day into the Gulf of Mexico. The actual flow is largely speculative.
Weeks before the tragedy, President Barack Obama announced plans to expand offshore oil drilling in previously protected waters off the Southeastern and Alaskan coasts.
Since the explosion, he’s stuck by that pledge although the federal government immediately imposed a halt on all new drilling and canceled permits already issued.
While the spill is a major disaster, it is a political gift to those who oppose more coastal drilling. Regardless of the eventual impact, for years to come, the Deepwater Horizon situation will be invoked any and every time drilling is proposed. This, despite the fact that literally thousands of gas and oil platforms have operated without incident in the Gulf of Mexico for decades.
President Obama broke with his previous positions when he suggested opening new areas for exploration. Perhaps he has awakened to the inherent duality of demanding more energy be provided risk-free.
Oil now fuels the American economy. It is not optional. Until or unless alternative sources replace oil, America, as a matter of national security, too, will need as much oil as it can get and at the most reasonable price possible.
There’s no such thing as flawless safety in energy production. Dams built for hydropower can break. Refineries can explode. Nuclear plants use the most potent and hazardous material known to mankind. Windmills and solar panels will never meet demand and biomass is still in development.
Ensuring that America has access to oil — especially as the recession fades and world demand increases — is vital for our economy as well as national security.
Let’s all hope and work to see that actual damage resulting from the Deepwater Horizon tragedy is as limited and contained as possible. But otherwise, the president must continue pushing to expand energy sources, including expanded drilling where possible. It won’t be easy in the face of forces demanding all forms of production be risk-free. But there’s really no other option.