Oil, Coal, and Gas Regulations
Oil, gas, and coal are three of the most widely used energy sources in America. Unfortunately, all three take a terrible toll on human populations and the environment, both during the extraction process and use. Government agencies including the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) and the Environmental Protection Agency (EPA) monitor and regulate these economic sectors, and numerous laws have been passed to address the negative externalities created by these industries.
Commentary
PG&E’s success in Washington led to failure in San Bruno
Cry Wolf Quotes
The net result could well be a greater probability of oil spills, less likelihood of a responsible owner to deal with those spills, less reliable transportation of oil and greater cost to the consumer; the very things the U.S. wanted to avoid.
If the Coast Guard implements a regulation requiring the certificates, but if there are no insurers willing to back them, then there is the possibility that all tankers would be banned from US waters.
I am here today to address the proposition that two provisions of the Energy Policy Act of 2005--that being section 327 concerning hydraulic fracturing, and section 328 regarding stormwater--have resulted in harm to drinking water resources in the United States. The evidence would strongly suggest otherwise. These two provisions simply removed unnecessary administrative burdens on the production of oil and natural gas in the United States.
[By exposing shipowners to an uninsurable level of liability, the act is] 'driving away from U.S. trading many responsible shipowners who may well possess the safest tankers and the most solid financial backing to cope with pollution damage claims.'
