David Prosser: The oil lobby secures a speedy triumph
Wednesday 13 October 2010
Outlook How quickly we forget. Three months ago, the world watched with fascination and horror as a series of BP failures to cap its leaking Gulf of Mexico well saw it become public enemy number one in the US, prompting President Obama to announce a moratorium on deepwater drilling.
Yesterday, that moratorium was lifted more than a month ahead of schedule. And just as the White House was making its announcement, the European Commission published its latest thinking on regulation of the deepwater drilling operations on this side of the Atlantic. Surprise, surprise, its previous view, that a US-style moratorium was necessary, now seems to have been watered down to an instruction to member states to make their own decisions.
Those who hoped for a long-term ban on deepwater drilling were always likely to be disappointed. Discoveries of new reserves in accessible fields have almost completely come to an end, but global demand for oil has, as yet, barely been touched by the development of renewable energy. We will need to go on finding new sources of oil for a good many years yet.
Still, have the lessons of the BP disaster really been learned so quickly? How can the American government – let alone the EC – be so confident new safety rules are sufficient, even though a string of inquiries into the incident arecontinuing? It looks as if those who thought the BP disaster would prove to be a defining moment for big oil have been proved wrong.
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Oil tanker with $100 million cargo goes missing off Texas coast
- 3 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 4 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...