Initial Response to the Oil Spill Commission Report
Nicolas Loris /
President Obama’s seven-person Oil Spill Commission released its long-awaited final report this morning and includes details on the “before, during and after” of the Macondo well explosion that occurred on April 20 last year. The commission’s site also has a “Recommendation for Decision Makers” section that has drawn much of the media attention. This post will largely draw from that section as well.
The bipartisan report predictably calls for tougher regulations and more government control with regard to offshore drilling and continually refers to systemic flaws of the oil and gas industry as a whole. But the reality is that oil and gas exploration and development operate safely for the most part; the offshore explosion was a rare and isolated incident. That’s not to say flaws do not exist in the current system or that improvements cannot be made. But tougher regulations for the sake of tougher regulations can make it unnecessarily difficult to access oil and gas off the 15 percent of America’s coasts where we’re allowed to drill. (more…)