Oil Profits at Public Cost: Reason 13 for a Progressive President in 2008

Reason 13 to vote for a progressive President in 2008 comes to us from the July/August 2006 edition of Sierra Magazine, which reports that a government program to encourage offshore drilling in the Gulf of Mexico will cost 80 billion dollars over the next quarter century - that’s 3.2 billion dollars per year over the next 25 years.

Last year’s devastating hurricanes in the Gulf of Mexico should have taught us the foolishness of depending upon oil from the Gulf. Crude oil infrastructure was devastated by hurricanes Katrina and Rita, sending gasoline prices sky high and creating huge oil slicks along the Gulf Coast. With global warming increasing the power of hurricanes that will continue to enter the Gulf of Mexico year after year, the problem will certainly get worse.

The last thing we need to do is have the government spend 80 billion dollars to help oil companies set up more high-risk, pollution-prone oil drilling operations in the Gulf of Mexico. A progressive President would not put up with such wasteful, ill-conceived spending.

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