Oil prices continued their decline as “refineries along the Gulf of Mexico coast will soon resume operations after escaping major damage from Hurricane Ike.”
This reminds me of something Charles Krauthammer wrote in June:
Technological conditions have changed as well. We now are able to drill with far more precision and environmental care than a quarter-century ago. We have thousands of rigs in theÂ Gulf of Mexico, yet not even hurricanes Katrina and Rita resulted in spills of any significance.
Seems that with new technologies, we can drill off-shore without much risk to the environment.