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Recently, Governor Rick Scott achieved the mere impossible...what do I speak of? The prospect of stopping 'off shore' oil drilling off the coast of Florida seemed impossible. According to news reports, the impossible seemed possible with recent action on part of the Trump Administration. Of course, if a state on the East Coast was given such a ban, the obvious question arose which surrounded similar bans on other East Coast states not to mention the obvious bans on the Pacific Coast too -- highlighted by the excerpt from 'Politico Energy'(from last week):
FLORIDA DRILLING MOVE SPARKS BACKLASH: Interior Secretary Ryan Zinke's quick decision to reverse course on opening Florida's coastal waters to offshore drilling sparked a flurry of demands from other states whose officials oppose the opening of their shorelines to oil and gas exploration, and even angered Trump administration allies in the energy industry, Pro's Ben Lefebvre and your ME co-host Anthony report . Californians plan to invoke the same arguments as Florida - the importance of their own huge coastal tourism economy and military bases whose operations could be disrupted by oil spills - in seeking an exemption. "That standard they applied to Florida is the one we intend to use," California Attorney General Xavier Becerra said in an interview. Florida Republicans, meanwhile aren't satisfied with Zinke's offer and said they are still pursuing legislation to extend a moratorium on drilling in the eastern Gulf of Mexico that is set to expire in late 2022.They will be heard: Interior spokeswoman Heather Swift said in an email that Zinke "intends to meet with or phone every governor who submits a meeting request. Governor [Rick] Scott was the first to do so." Wasting little time, North Carolina Gov. Roy Cooper formally requested a meeting or phone call with Zinke on Wednesday in a letter.
Here is a link to the letter from North Carolina Governor Roy Cooper to read filled with compelling facts and statistics against off-shore drilling. There are such 'mixed announcements' coming from the Trump Administration lately. On Jan. 4th (2018), an article appeared in the 'Los Angeles Times' stating that there are significant obstacles facing the expansion of the oil industries along the California Coast. Especially, at a time when oil production is at an all time high -- according to the author of the article in the 'Times'.
In light of this reporting, then what purpose does the excerpt above achieve?
The California Coast is already being drilled heavily upon. Just drive up and down the coast and look out into the water. In pockets of Southern California and further off the coast in other areas, oil rigs continue to pump oil out of the ground. I wrote an article about the decline of the quality of the California beaches a year ago as a result of this drilling. The situation is sad to say the least. Although, the nation along with the world is highly dependent upon the oil industry. According to a calculation in a post, 94 million barrels of oil is required on a daily basis to fuel the entire world's oil demand -- WOW!!!
I have indicated through writing various posts on this site that the investment community is gearing toward a large shift -- a shift toward investing primarily in 'sustainable energy' resources. Over the course of the last year, the efforts have been on display. Of course, these efforts are counter to what the current Administration thinks is good for the nation. Regardless, the world is headed toward a renewable energy future. The days of the oil boom are coming to an end.
The fact that the Department of the Interior is accepting requests to meet is good -- as long as the meeting occurs and the expansion of off-shore drilling is coming to a halt. According to an update yesterday morning from 'Politico Energy' regarding extending the ban to California was as follows:
YOUR OFFSHORE UPDATE: Following his promise to discuss the administration's recent offshore drilling proposal with any and all states that wanted to, Interior Secretary Ryan Zinke spoke with multiple governors on Friday. Washington Gov. Jay Inslee, chairman of the Democratic Governors Association, reiterated his opposition to new drilling in a Friday phone call with Zinke. "I told him the concerns of Washingtonians and West Coast residents deserve be treated with the same consideration and deliberation as those in Florida," Inslee said in a statement. "Secretary Zinke did not provide that commitment, unfortunately. But this fight is far from over." Oregon Gov. Kate Brown's office said Zinke agreed to consider exempting the state after they spoke Friday, according to the Associated Press.Zinke also promised Friday to travel to California to visit Gov. Jerry Brown to discuss the agency's plan, Pro's Ben Lefebvre reports. "During the conversation, Gov. Brown asked for the same consideration Florida recently received and noted broad opposition from Republicans, Democrats and Independents across the state to any expansion of oil and gas drilling off of the California coast," Brown's office said. "The Governor invited Secretary Zinke to come to California to continue this constructive conversation in the weeks ahead and the Secretary agreed to a future meeting and visit."As for whether Zinke will make a trip to Washington anytime soon, Washington State spokeswoman Tara Lee said the governor did not explicitly ask the secretary to visit the state. But it was her understanding that "the governor repeatedly asked the Secretary what information he would need to make a decision or change his mind. It doesn't sound as Sec. Zinke provided that information."
By the sounds of the excerpt above, again, the Trump Administration is 'flip flopping' on an obvious issue. Close the coast to further off-shore drilling. What the Trump Administration should be concerned about is the 'aging' equipment -- i.e. pipelines which carry the enormous amount of existing oil which is pumped. Why not invest in new infrastructure (i.e. repair and inspect). That would produce jobs to stimulate the economy while keeping up an 'aging' system which is destined to decrease in productivity over time as renewable investments increase over the same period of time.
The time is now to invest in a renewable and clean future with regard to any sector. Change starts now. Until next time, have a great day.
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Is 94 Million Barrels Of Oil A Large Amount? That Is The Global Daily Demand!
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