Today’s Essential Reads
I am struck by the fact that no matter the controversy, those paid to say what they say would think they are more credible than people whose views are not bought and paid for. Yet that is precisely what the executive director of the Maritimes Energy Association (OTANS), which represents the interests of the oil and gas industry, seems to want the public to believe (“Hydraulic fracturing: I’ll see your ‘expert’ and raise you two,” Dec. 9).
A trade group for natural gas utilities spent $200,000 lobbying Congress in the third quarter on regulation of drilling, support for low income families and promotion of natural gas vehicles, according to a recent disclosure report.
Natural-gas producers must do more to reduce environmental harm from hydraulic fracturing and disclose U.S. drilling risks, according to groups representing investors with more than $130 billion in assets.
Revisiting a blog from the past summer on “fracking” and the negative public impact that the practice of sealing settlements can have on what we need to know, provides an opportunity to assess more recent developments.
BP OIL SPILL:
BP is expected to pay fines between five and 20 billion dollars for causing the biggest oil disaster in the country’s history. There’s debate in Washington over how that money should be spent. If the fines are used to restore and protect Florida’s coast it could mean hundreds of new jobs. As Whitney Ray tells us, a new poll suggests voters in Florida, both Democrat and Republican, want the money spent here.
Transocean (NYSE: RIG), the world’s largest provider of offshore drilling services, says that it cannot be forced to pay fines related to sub-surface leaks in the 2010 Gulf of Mexico oil spill due to an indemnity contract it has with BP (NYSE: BP).
The Gulf Coast is still fighting to recover more than year after the devastating BP oil spill, and the Restore Act of 2011 could help it recover even faster.
Chevron Corp. spent $2.13 million in the third quarter to lobby the federal government on offshore drilling in the Gulf of Mexico and other issues, according to a disclosure report.