It is great to see that the “doom and gloomers” so far appear to be wrong. (See several earlier doom and gloom scenarios here.)Apparently the well casing is intact and able to withstand at least 6,700 psi of pressure from that oil and gas-laden cavern. Now if Obama can only get off his “destroy the American economy” high horse and open the Gulf to drilling again. Don’t you think the oil industry has learned its lesson and will institute safeguards to assure this type of disaster will not occur again?
I’m becoming more and more convinced that the government adopts many laws and regulations as political eyewash, with little funding and less real intention to effectively implement or enforce them. That has been the case with the oil and gas industry and that is the ongoing case with Federal immigration laws. So, no, I don’t think it would be tremendously helpful for the Feds to adopt sweeping new regulations over off-shore drilling. And national health care implementation will be even worse.