Albert Evarts' Article

I stand for stricter regulations on offshore drilling. It is appropriate that governments around the world facilitate proper measures to safeguard the oceans and health of the people living on and depending on them. Furthermore, stricter offshore drilling regulations assist in the prevention of disastrous oil spills that cost millions to fix and that can have long term, detrimental affects.

Attention in the world has recently turned to Brazil, a rising power in a world transformed by the Great Recession. Two-hundred miles off the coast of Brazil’s second largest city, Rio de Janeiro, an oil leak was discovered in a deep-water well operated by Chevron, a Californian oil company. Brazil was quick to suspend the drilling rights of Chevron in Brazilian waters until the cause of the leak was found and a proper solution could be found to make deep-water drilling safer. Though analysts suggest it was Brazil’s ambition that played a part in the spill, the oil-company is the only accountable party simply because they maintain the responsibility of monitoring the facility and conducting research.

Stricter regulations do not equate to unreasonable terms and are not intended to handicap the oil industry. Rather they are meant to responsibly protect investments and, in the case of Brazil, the environment and people in the near vicinity of the leak. While lack of resources and proper technology hinders companies desires to engage in deep-water drilling, regulations still need to be put in place.

REFERENCES

●     http://www.reuters.com/article/2011/11/27/us-brazil-oil-chevron-idUSTRE7AQ0LH20111127

●     http://www.washingtonpost.com/blogs/blogpost/post/brazils-chevron-oil-spill-a-wake-up-call-to-avoid-their-own-deepwater-horizon/2011/11/29/gIQAtczK9N_blog.html

●     http://www.swingtradingdaily.com/2011/11/25/editorial/an-%E2%80%98alternative%E2%80%99-to-playing-the-brazil-oil-spill/