Moratorium and litigation may stall drilling for years

Will one-third of U.S. oil continue to be produced offshore? Political forces at play in the aftermath of BP's disastrous oil spill make it increasingly doubtful. Failure to consider the full effect of proposed laws and moratoria, as well as the operation of existing laws, could jeopardize thousands of jobs and further damage the Gulf Coast economy. The Deepwater Horizon accident, taking 11 lives and slowly impacting countless livelihoods, was shocking. BP's brown muck of oil, coating wildlife and marshes and once-pristine beaches, creates a powerful visual argument against future drilling. But this horrific incident contrasts with a decades-long history of safety. Since 1980, the largest spill from a blowout in federal waters besides the Deepwater Horizon was only 800 barrels. For every barrel produced, only .000001 was spilled. It is certainly possible to produce oil offshore with reliability and safety...more