(UPDATE: Eileen has more here.)
But as more and more suits are filed and more legislation is passed, operating in the Gulf is riskier and less lucrative, and the Atlantic is looking more attractive to oil companies, if for diversification alone.
One, that there weren't enough votes to pass it.
Two, the oil industry wasn't pushing hard enough (read: wasn't paying enough). With the recent announcement that the insurance industry won't be taking on small businesses in the NO area, on top of the problems homeowners are having getting paid what's owed them, the probability of NO's revival in any form other than a small, quiant, tourist-trap center has taken *yet another* hit.
Without a fully functional *city* (schools, hospitals, cinemas, eateries, etc, etc, etc,) the oil industry has little chance of attracting enough low-paid labor to make the whole thing worth it to their stockholders. So, they pushed, but they didn't push with allt heir heart (or purse).
At least, that's my take on it.
Somehow all that money needs to be put into E-85 plants, cars and research. Why the oil industry cannot understand that they can corner the market if they got off their duffs, is beyond me.
You all in Falls Church area should go listen to Al Weed this Saturday about bio-fuels, it is a learning experience that is good for America. Especially the so called War on Terror.
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Energy Independence, Climate Change and Virginia's Future (0.00 / 0)
Sponsored by the Virginia Chapter of Progressive Democrats of America.
WHO: Al Weed - Chairman, Public Policy Virginia
WHEN: Saturday, December 9th, 3 – 6 p.m.
WHERE: Anthony's Restaurant - 309 W. Broad St., Falls Church, VA
Al Weed will discuss how Virginia can advance energy independence, create jobs, reinvigorate depressed rural economies, and address global climate change by replacing the dying tobacco industry with a biofuels industry based on switchgrass and ethanol. Home grown fuel keeps money in our own economy, means less foreign debt, less political and economic dependence on foreign oil, and less global warming.