Thursday, October 21, 2010

Worst of BP (NYSE:BP) Oil Spill Over Says Government

At the annual Clean Gulf Conference, government officials and executives from the oil industry said the worst of the BP (NYSE:BP) Gulf of Mexico oil spill in now behind us.

Other comments asserting the oil spill was never as bad as media hype has been communicated by the government, as scientists said most of the oil had dispersed from the Gulf, fisheries have been reopened, and the moratorium on drilling in the region lifted.

The moratorium was considered more of a hindrance than a help from the beginning, so it's not something that should be cited as a confirmation everything is better.

It probably hurt the area economically as much as anything else, and still will as little drilling will resume any time because of the permitting process and new regulations. That's why it was safe for the Obama administration to appear to lift restrictions through abandoning the oil moratorium before the November elections.

Assertions to the contrary have been made by so-called independent scientific sources, but very little has been proven, while a lot has been proffered through media outlets.

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