Deepwater Horizon

The Macondo oil well blowout in the Gulf of Mexico is about to spur a bureaucratic overreaction that will ruin America's chance at becoming an energy exporter.

Issue: Nov-Dec 2010

 THE MACONDO oil well blowout in the Gulf of Mexico last April has consequences far beyond BP’s balance sheet—or even the potential rate of growth of offshore oil and gas production in U.S. territorial waters. It almost certainly marked the end of any possible legislation to bolster energy and environmental policy, perhaps for the rest of Barack Obama’s first term, and probably well into a second (should there be one). Above all, it may have stymied America’s first chance in forty years to approach energy independence.

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