Friday, November 5, 2010

Oil Drilling News

GULF OIL DISASTER


Coral Dying Near Site of BP Oil Spill

"In a research cruise that ended Thursday, the scientists found coral "covered by what appeared to be a brown substance" about seven miles southwest of the BP PLC well that gushed oil into the Gulf between late April and mid-July, the National Oceanic and Atmospheric Administration said in a statement. It won't be clear whether the substance was oil – and, if so, whether it was oil from the BP well – until further tests are done, the agency said. 

The NOAA report is the latest to flag potential underwater environmental damage from the oil spill. Earlier this year, other researchers said they found sediment on the sea floor several miles from the BP well that was covered in a substance that appeared to be oil. Testing to determine the source of that substance is still ongoing, those researchers say."


World's oil thirst leads to risks

LOUISIANA


Louisiana Rethinks Its Sand Berms

"...Louisiana has changed its tune considerably. On Monday, Bobby Jindal, the state's governor, announced that $100 million of the remaining berm money would be redirected toward coastal restoration, a move endorsed by BP. 

Specifically, the money would be used to convert the more than 10 miles of berms already built from temporary oil-blocking structures into permanent barrier islands. The remaining $40 million would be used to complete several berm sections still under construction and other expenses related to the project."


ALTERNATIVES TO OIL

U.S. Weighs Funding for Renewable Energy Projects

"President Obama's top advisers recommended cutting off funding for a federal loan-guarantee program meant to spur the construction of wind and solar farms and other alternative energy projects, saying taxpayer dollars might be better spent elsewhere. 

But the advisers, including Mr. Obama's outgoing National Economic Council Director Lawrence Summers, energy policy czar Carol Browner and Ron Klain, chief of staff to Vice President Joe Biden, warned Mr. Obama that pulling money from the program would risk antagonizing powerful allies in Congress, and would "signal the failure of a Recovery Act program that has been featured prominently by the administration," according to an Oct. 25 memorandum viewed by The Wall Street Journal."