Vol. 20: The Moratorium
We applaud Judge Feldman’s injunction on the deep drilling moratorium. But we are deeply concerned that the moratorium will be reinstated (either on a de facto or actual basis). The fact is, this suspension of deepwater drilling has the potential to turn an ecological catastrophe into an economic calamity, and it must be swiftly addressed.
There are two points that are critical to stress here:
First, there is no one in Louisiana, neither fisherman nor oilman, neither conservationist nor industrialist, who does not want to protect the environment of our State. This is where we live; preserving our coast is an existential issue for us. Let no one doubt this.
But at the same time, let no one doubt that the job
loss from the moratorium is real, and has the potential
to cut the legs out from a region just regaining its stride after Katrina.
Multiple experts asked to make recommendations about future drilling have agreed that a blanket moratorium is not the answer, as it will not measurably reduce risk further, and it will have a lasting impact on the nation’s economy which may be greater than that of the oil spill.
Please see the attached presentation, where we:
- Analyze the economic impacts of the moratorium
- Propose practical solutions that preserve our economy while protecting our environment
- Discuss other positive responses to this event, including accelerating MMS royalties, and evolving Southeast Louisiana into a global hub of sustainable industry, through our GreenN.O. initiative
Thank you for your support during these challenging times.
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