My Rant concerning BP and the petro industry (specifically fuels). —Vote in my poll, below–
Record Oil profits, lack of refinery capacity, environmental damage from poorly maintained equipment (pipelines/boats/platforms) you ask me it doesn’t add up, this industry is very strong force in our economy being vital to our survival as a industrialized nation, the oil companies know this so they spend little on maintaining the equipment waiting for the day it Collapses, and then ask for a government bailout to help rebuild the infrastructure. The oil industry receives heavy tax breaks, and very little regulation, they say that they meet those regulations….maybe the regulations need to be changed…oh crap that’s right half our government are former oil exec’s good luck with that. I wont even go into environmental impact, both from production and accidents (much of are do to lack of maintenance or precautions). It’s really simple any business is here to make money but for one that is so critical, one that delivers the blood of our society, controls should be in place to ensure capacity and infrastructure and environmental issues are addressed.
The most recent BP incident in the north slope of Alaska, I find most disturbing as the government pushes thru bills to expand activities in that area. How can a entire field be shutdown do to corroded pipes (I’d guess that means rust). There are complaints from field engineers who worked the site that it was being poorly maintained, and was prone for spills and fires. The most recent news that Wal-Mart wants to sell ethanol (typically ethanol is 15% petrol 85% alcohol) I think is great, along with car manufactures expanding flex fuels cars this will help reduce demand, and the prospect of hydrogen fuels, electric hybrids the future is not all that grim, but its also the future. Another thing to consider is that petroleum products include items that are not fuel related such as plastics and rubbers. I believe there are some real problems when any company that can line shareholders pockets, by precooking the books (knowing you have billions in maintenance costs and only spending millions and then recording profits). I just think that this is such a critical industry that it needs to be maintained to higher standards.
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