Tuesday, November 27, 2012

Dirty Oil Must Pay

There's been an unreasonably low financial settlement between the US Federal Government and BP over the huge BP oil spill in the Gulf of Mexico.

The disaster, where operations by BP and its subcontractors Transocean and Halliburton went ballistic, killed eleven people directly, leaving oil gushing into the Gulf of Mexico for more than three months (and leakage may be ongoing), and was a huge black mark on the industry overall.

Because of the impact on tourism and the food supply, the largest accidental oil spill in history is too often labeled "Deepwater Horizon oil spill" or "Macondo blowout" rather than "BP Gulf disaster" or another more descriptive label for the area's poisoning.

Part of the penalty for this preventable ecological disaster should be creating a subsidy fund for renewable energy projects. A major wind energy facility in the northeast USA, Cape Wind off Cape Cod,  is expected to generate substantial energy without the danger of spills and ecological mutation. The dirty oil & nuclear producers should not simply pay all the costs for their accidents, but also be forced to subsidize the basis for undercutting their industry. They've skewed costs by cutting corners - now let us all support cleaner energy.