Gulf of Mexico Oil Spill

Everyone is alarmed about the British Petroleum failed oil rig in the Gulf of Mexico. The oil spill has given the humanitarians another excuse to control our lives.

The alarmist media will tell you the oil spill covers 200 square miles. What they do not tell you is the size of the Gulf of Mexico is 600,000 square miles! The oil spill is .0003% of the size of the Gulf of Mexico.

I feel sorry for the 80,000 employees of British Petroleum. Their jobs and careers may be destroyed. Yet the environmentalists are ecstatic because their hatred of capitalism distorts their views of reality.

Update May 28 2010

People are alarmed at the disaster of the BP oil spill in the Gulf of Mexico. Where there is a disaster there are men who look for a solution. Men have always been problem solvers. The late Julian Simon in his book, The Ultimate Resource, writes about the resourcefulness of humans and their ability to solve problems and create a better life. As a result of the oil spill in the Gulf of Mexico there will be safer and more reliable ways of drilling. BP said they receive thousands of suggestions each day on how to solve the problem. The human resource is a valuable resource. If left alone to produce can, and has solved engineering miracles. One solution is simply drill a relief well for each active well.

President Obama and the media have been attacking British Petroleum. Everyone loves to attack big business. If it was a government oil well that went bad, like other government failures, there would be a cry for more money and power for the government to do the job better.

The Gulf of Mexico oil spill will cost BP billions. This will increase the cost of deep water drilling all over the world until drilling companies develop a safer and more efficient way to produce. The free market will cause cheaper production and safer drilling to eventually happen. It always does.

Update 7 15 2010. NEW ORLEANS – BP says oil from its broken well has stopped gushing into the Gulf of Mexico for the first time since April. Human resources at work again to solve problems.

Charles Tolleson