Talking at the Barclays Capital (NYSE:BCS) CEO Energy-Power Conference in New York, Pride International Inc (NYSE:PDE) CEO Louis Raspino, said the Obama administration is attempting to get "how close to zero" they can concerning the risks of offshore drilling.
But like the mountaintop removal by coal companies, that's usually another way of saying they're attempting to kill the industry; at least in the Gulf region.
The idea perfection is always an evil one, as it creates the unreachable idea of utopianism, which always ends up being destructive and hurting human beings in one way or the other.
Raspino added, "Quite frankly, the industry has to show the government that it can do a better job than it could do in its last blowout."
While that's not necessarily a bad thing, it's secondary to the ideology behind the proposed changes.
In light of all this, Raspino has predicted there will probably never be a return to the rig count in the Gulf in the future. Welcome to utopia.
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