Joe Weisenthal
Business Insider
3/19/2011
On top of everything else, some potentially troublesome environmental news out of the Gulf of Mexico again.
The Times Picayune is reporting that the Coast Guard is investigating reports of a brand new deepwater oil spill.
Multiple callers have reported that they have seen a huge sheen of oil not far from a deepwater rig. According to Judson Parker at Examiner.com, the potentially leaky rig is the Matterhorn SeaStar owned by W&T offshore.
Details remain scarce. It is interesting that as oil rallied late in the day on Friday, shares of W&T Offshore tanked hard into the close. (via @nictrades and @stocksage1)
Related: At GatewayPundit, Obama Praises Brazilian Oil Industry While He Blocks Drilling Here at Home:
At least 7 oil rigs moved out of the Gulf area to other parts of the world since President Obama initiated his moratorium last year.
President Obama defended his trip to Latin America today in an editorial at USA Today. He also praised the expanding Brazilian offshore oil industry.
We’ll also work to strengthen our relationship when it comes to energy. Brazil holds recently discovered oil reserves that could be far larger than ours, and as we seek to increase secure-energy supplies, we look forward to developing a strategic energy partnership. We’ll also continue our shared leadership in green economic growth and clean energy, including everything from biofuels to renewables such as wind and solar power. And as the host of the 2014 World Cup and 2016 Summer Olympics, Brazil is expected to invest more than $200 billion in upgrading its infrastructure — an area where America is primed to be a partner.
That’s strange.
This is the same president who has declared war on domestic oil and gas exploration and production since the first day he moved into the White House…
