Oil is here
- Thread starter thataway
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toyman":2gp8d8fs said:
All of the non fuel products combined make up a little less that 16% of what comes from a barrel of oil. See this link for info related to that. So I would claim that it's quite correct to be focusing on the energy aspect as energy is the majority of what oil is used for. Nonetheless, it's valid to point out that oil by products impact our lives in many-many ways and we certainly aren't going to be giving up oil anytime soon (for fuel or other purposes).
This-thataway":2d4vkd15 said:
http://www.nytimes.com/2010/06/19/us/19anadarko.html
and this-
http://www.anadarko.com/Investor/Pages/ ... id=1439839
The Rolling Stone piece is probably the best political analysis of the spill out there. In policy analysis we often struggle over whether a problem is a result of market failure (e.g., externalities incentivizing bad behavior) or government failure (e.g., bureaucracies acting imprudently or worse). Most of the time we see both -- as in this disaster. The question into the future remains the same: how do we structure the regulatory environment in a manner that leverages the power of the market (e.g., creative entrepreneurship) while minimizing the likelihood of irresponsible or dangerous behavior? It is clearly a delicate balance.
Part of the equation, of course, is to distinguish between private spheres and public spheres. You have the right to be as irresponsible as you want in your private spheres -- the problem starts when private irresponsibility bleeds into the public sphere. My 6th grade teacher put it this way -- you (meaning all of us 6th graders) have the right to swing our arms as wildly as we want... but my right to swing my arm ends where her face begins. In the context of complex economies this trade-off is more subtle -- we have the right to exploit private goods in any way we want -- right up to the point that exploitation threatens common goods (common pool resources).
Who do we trust to make the distinction between private and public goods? That will continue to be a contested terrain. But, until we understand that government is the collective apparatus that we have created to facilitate these types of transactions we abdicate our responsibility to collectively solve vexing problems. To the degree we view government as an intruding institution we abandon its management to knuckleheads and thieves. Well, in a democracy, we are the knuckleheads.
Part of the equation, of course, is to distinguish between private spheres and public spheres. You have the right to be as irresponsible as you want in your private spheres -- the problem starts when private irresponsibility bleeds into the public sphere. My 6th grade teacher put it this way -- you (meaning all of us 6th graders) have the right to swing our arms as wildly as we want... but my right to swing my arm ends where her face begins. In the context of complex economies this trade-off is more subtle -- we have the right to exploit private goods in any way we want -- right up to the point that exploitation threatens common goods (common pool resources).
Who do we trust to make the distinction between private and public goods? That will continue to be a contested terrain. But, until we understand that government is the collective apparatus that we have created to facilitate these types of transactions we abdicate our responsibility to collectively solve vexing problems. To the degree we view government as an intruding institution we abandon its management to knuckleheads and thieves. Well, in a democracy, we are the knuckleheads.
For those interested, this innovative Times-Picayune animated graphic chronicles the first 100 days of the disaster, presenting the story of what happened day by day.
http://www.nola.com/news/gulf-oil-spill ... /index.ssf
Lets all hope that the top kill that will happen soon is a success and we can begin to put this nightmare behind us.
Dan
http://www.nola.com/news/gulf-oil-spill ... /index.ssf
Lets all hope that the top kill that will happen soon is a success and we can begin to put this nightmare behind us.
Dan
Hi Folks,
Just a little reminder. A retired Coast Guard Officer reminded me that during World War II, oil tankers were being torpedoed and sunk off the Cape Cod Coast every week. No permament harm ever became of it. We also see that Nature is cleaning up a lot of it by nature microbes.
My personal feelings is that it will become "much to do about nothing". in the near future. The press contributes to our anxiety.
Fred
Just a little reminder. A retired Coast Guard Officer reminded me that during World War II, oil tankers were being torpedoed and sunk off the Cape Cod Coast every week. No permament harm ever became of it. We also see that Nature is cleaning up a lot of it by nature microbes.
My personal feelings is that it will become "much to do about nothing". in the near future. The press contributes to our anxiety.
Fred
Captains Cat
New member
Fred, I had the same thought when the ABC news showed divers off the coast tonite, deep down finding no sign of oil. Hope we're right and this nightmare will go away quickly. I'm going down there for the first time in about a year the week after next to a couple of shipyards (Avondale and Pascagoula) and will see first hand. It's had a devastating affect on tourism, despite what any damage has done.
Charlie
Charlie