Drilling into stupidity

Submitted by James on Mon, 04/26/2010 - 5:34pm


If you're a cynic, there's no shortage of public policies you can consider misguided. But even if you're not a cynic, the idea that we would risk this kind of environmental catastrophe to extend our nation's oil habit a few measly years is profoundly stupid. North Carolina doesn't need this off-shore drilling scheme. What we need is at least one US Senator who will commit to blocking any legislation that would allow it. Hat tip to Ed Cone for the story.

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Why drill when we can spin?

Submitted by James on Mon, 04/26/2010 - 5:44pm.

There are better options.

Do good. Be nice. Have fun.

63% of N. Carolinians Support Drilling

Submitted by ncThinker on Mon, 04/26/2010 - 8:53pm.

63% of North Carolinians support offshore drilling even after Gulf spill. Even with that said, I don't think NC has sufficient oil reserves to be cost effective for companies to commit the resources to such a venture, so I'm a little perplexed by all the excitement this issue is generating.

If 100% of North Carolinians understood

Submitted by momoaizo on Tue, 04/27/2010 - 9:43am.

what is off the coast of North Carolina, they would be against drilling for oil off our coast. If they understood that any oil found would go on the world market and not to a gas station near their home, they'd be against drilling for oil off our coast. If they understand that what is now happening in the Gulf of Mexico could and probably will happen here, they would be against drilling for oil off our coast!

Big problem: wind power might just be too cheap

Submitted by heiderose1 on Tue, 04/27/2010 - 11:39am.

Jerome a Paris, an energy investment banker who writes for the European Tribune posted an interesting piece called "Wind's latest problem: it ... makes power too cheap" a few days ago. It seems that an article in Bloomberg raised concerns that wind power worked too well and just might lower the price for electricity and, therefore, the profits for all energy producers. Oh, the horror!

April 23 (Bloomberg) -- On windy nights in northern Germany, consumers are paid to keep the lights on. Twice this year, the nation’s 21,000 wind turbines pumped out so much power that utilities reduced customer bills for using the surplus electricity. Since the first rebate came with little fanfare at 5 a.m. one October day in 2008, payments have risen as high as 500.02 euros ($665) a megawatt-hour, about as much as a small factory or 1,000 homes use in 60 minutes.

Jerome notes:

As I've noted many times, the energy sector is one of the best examples of how the financialisation of the economy has brought results that are bad for everybody except the investment bankers and top management; it's also, thankfully, one where reality can most objectively re-assert itself.

Seel links below:

http://www.eurotrib.com/story/2010/4/25/62541/6173

http://www.bloomberg.com/apps/news?pid=email_en&sid=aGDZMpv5Y9Vo

Resistance is Fertile

Not only that

Submitted by Dr. Quigley on Tue, 04/27/2010 - 11:49am.

But I'm guessing that if they do allow oil drilling some private mega corporation will get the rights and will profit off of the resources of (what used to be) the commons.

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"The natural wage of labor is its product." -- Benjamin R. Tucker
A liberal is someone who thinks the system is broken and needs to be fixed, whereas a radical understands it’s working the way it’s supposed to.

NC has incredible offshore wind potential

Submitted by Green Mom on Thu, 04/29/2010 - 12:40am.

Much more energy could be had from offshore wind than from drilling, and much sooner too.