Gulf Oil Leases Spark Outcry But Little Revenue
By Staff for Living on Earth. There's no question that the oil industry has some real economic problems facing it. They've got infrastructure out in the gulf that is absolutely falling apart. They are deciding not to repair that infrastructure. They have left, for example, 26,000 wells abandoned in the Gulf of Mexico. So they certainly do have stranded assets, but the only thing that drives this industry is profit. They're not going to do anything because for any other reason there was a rebuttal to our action written by the Louisiana oil and gas industry, and in that rebuttal, they tried to explain how they're helping flood victims and they call us to take for using the flood to attack them, when in fact, when they burn carbon, they melt our planet.