11 June 2010

Internationalize the Petroleum Industry

cross posted from OlyBlog, June 11, 2010:

Obviously, the petroleum industry disaster in the Gulf of Mexico is a big deal and a lot of people are concerned.

Here's a video with an alternative perspective on the events. It's a comedy, and it uses BP's response to show some of the ridiculous that is part of the series of events that has taken place over the past couple of months or so.

Today there is an article that the estimate of the rate of the gusher is twice as much as previously thought. That would make it somewhere around 40,000 bdp (barrels per day). Hard to fathom. [update: ...although some of the largest gushers have been known to top 100,000 bpd. According to an article on Wikipedia (about gushers,) one prominent gusher in California flowed at around the 100,000 bpd rate for over a year. Does that seem like carelessness? Does that seem like a terrible profligacy?]

Comedic interpretation aside, this is a very big deal, and a very serious issue.

Some people are calling for the seizure of BP.

One idea is to internationalize the petroleum industry (perhaps with UN management and oversight.) What do you think about that?

I think that the petroleum industry is very harmful (and that also it enables so many other harmful industrial activities.) What do you think? And if you agree that the industry is harmful, then do you think it makes sense for some to profit from it, while others do not?

Oil Slick at Percival Landing

Peace is Possible!

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