Blue Mass Group

Reality-based commentary on politics.

Doesn’t Gustav Blow a Hole in McCain’s Drilling Argument?

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While the attention of the political media has been focused on how McCain and the Republicans are desperately trying to look competent in dealing with Gustav given their Katrina history, I haven’t seen much focus on the fact that such storms present grave risks to offshore oil rigs.  

I mean McCain has basically thrown his entire economic and energy message behind the drilling flip-flop.  With oil production in the Gulf brought to a standstill doesn’t dependence on new drilling look a risky proposition?

Without politicising the storm egregiously isn’t this a point our guys should be making?  

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  1. Excerpt from January 17, 2007 State of the State Address. by Governor Sarah Palin (R-AK)

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    A perfect example is Alaska’s Pt. Thomson. Huge reserves up there. “Leases” held by producers are iron-clad contracts – they’re promises to develop the public’s resources for mutual benefit – or give back the leases. There’s a large producer who’s held the lease at Pt. Thomson for roughly 30 years with no development – three decades to develop or step aside. WAREHOUSING Alaska’s resources is not an option anymore. We can’t afford it!

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    p>Excerpt from Oil companies have lots of leases to drill . By Senator Joseph Biden (D-DE), July 9, 2008 in The News Journal (Wilmington, DE)

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    First, the oil companies in this country now hold 7,000 leases to drill offshore, yet only 20 percent of those leases are producing oil. That is 68 million acres for which they already have the rights to drill. Nearly 80 percent of our offshore oil is already available for leasing — approximately 54 billion barrels total. They could be drilling in these areas, but they are not.

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