The Week Ahead: Energy Emerges

By October 3, 2005Energy

As we’ve been saying, among the climatological effects of Hurricanes Katrina and Rita, the tide has clearly turned on energy issues. There is new found understanding of the law of supply and demand and with it, new found interest in exploration in areas heretofore considered off-limits. The absence of catastrophe, of wholesale catastrophic spills on offshore dilling platforms has shed light on the truth about the new technology and the relative safety and environmental friendliness of offshore drilling. Also, people are focusing on the fact that the same hysterical group that is predicting environmental ruin if we drill in the Arctic National Wildlife Refuge (ANWR) also predicted the same when the Alaska pipeline was built. As we like to note, the caribou herd increased six-fold since the pipeline went in. So much for damage. We will point out again that ANWR is a place the size of South Carolina and the drilling will take place in an area the size of Dulles Airport.

According to US Government estimates, the price of energy will increase dramatically this winter, with the greatest increases being in the chilly areas that need it most. This is a coming political storm that is about to roll over the so-called environmental movement. It was clearly on the minds of our Board of Directors who were in town last week, clearly issue #1. Time to begin environmentally-responsible exploration (the only kind we manufacturers know how to do), and let’s get on with it. The debate will begin in earnest this week. Be on the lookout for Barbra Streisand and her fellow climatologists to descend….