Transoceans’ (RIG) Deepwater Horizon began burning on Tuesday night, and continued over 24 hours before sinking into the Gulf of Mexico on Thursday. The oil (USO) rig carried 700,000 gallons of diesel fuel. The rig had been pumping crude oil, which is leaking at the rate of 300,000 barrels a day. This is not only a major threat to marine life, but the coastline of Louisiana about 50 miles away.
Despite the recent hoorah about drilling for new oil, this event plays perfectly into the hands of the nuclear energy industry. Nuclear proponents have been spending a ton of time on Capital Hill looking for subsidies and assistance to catalyze a new wave of power plant construction. I have a strong suspicion a the industry’s army of lobbyists is sending a lot of Congresspersons the video above.