Friday, September 3, 2010

Mariner (NYSE:ME) Fire Way Over Hyped

The people with agendas are out in force in an attempt to paint the fire on an oil rig operated by Mariner Energy (NYSE:ME) as further prove the job-crippling oil moratorium needs to be kept in place.

Even the explosion part of the story wasn't correct, and it was simply a fire; something that is relatively common on any oil rig or oil platform.

In the Gulf of Mexico over the last several years, over a hundred fires annually start on rigs, with the vast majority of them very tiny.

With the combustible materials on this oil rigs and platforms, there are always going to be fires of some type, and making it look like this fire is any different, and that a full-blown investigation has be started, is overkill, to say the least.

It's an attempt to make it look like something far worse happened than already did, and that it confirms major safety issues in the industry.

The truth is it does neither, and it's a huge waste of time, effort and money to do this, which is largely a marketing effort by the Obama administration to continue the hated oil moratorium, which the majority of Americans oppose.

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