Trump To Rollback Deepwater Horizon Regulations

The Trump administration is hoping to slash regulations on offshore oil drilling that were implemented after the 2010 Deepwater Horizon disaster that killed nearly a dozen people and led to an oil leak that spewed for months.
According to the Wall Street Journal, the Bureau of Safety and Environmental Enforcement (BSEE), which is the agency housed in the Interior Department that regulates offshore oil drilling, is proposing a rollback of a series of changes made after the 2010 disaster.
BSEE says that the cuts will save the oil industry $900 million over ten years. The proposal has not been made public, but the WSJ reports that some of the changes include easing rules that require the streaming of real-time data of oil production operations to facilities onshore, which allows regulators to see what is going on. Another rule that would be removed requires third-party inspectors of equipment, such as the blowout preventer, to receive certification by BSEE.
Another example includes alterations to the ‘well-control rule,’ one of the signature regulations that was implemented by the Obama administration after years of review following BP’s oil spill. The well-control rule required the use of certain safety equipment and operations intended to reduce the risk of another disaster.

This post was published at Zero Hedge on Dec 27, 2017.

Post-Deepwater-Horizon Regulations Get Rolled Back

‘They’re blocking research into the risks. What is Secretary Zinke afraid of?’
By Nick Cunningham, Oilprice.com: The Trump administration is hoping to slash regulations on offshore oil drilling that were implemented after the 2010 Deepwater Horizon disaster that killed nearly a dozen people and led to an oil leak that spewed for months.
According to the Wall Street Journal, the Bureau of Safety and Environmental Enforcement (BSEE), which is the agency housed in the Interior Department that regulates offshore oil drilling, is proposing a rollback of a series of changes made after the 2010 disaster.
BSEE says that the cuts will save the oil industry $900 million over ten years. The proposal has not been made public, but the WSJ reports that some of the changes include easing rules that require the streaming of real-time data of oil production operations to facilities onshore, which allows regulators to see what is going on. Another rule that would be removed requires third-party inspectors of equipment, such as the blowout preventer, to receive certification by BSEE.

This post was published at Wolf Street on Dec 27, 2017.

Traub: “The US Has Reached The Last Stage Before Collapse”

The United States of America Is Decadent and Depraved
The problem isn’t Donald Trump – it’s the Donald Trump in all of us…
In The History of the Decline and Fall of The Roman Empire, Edward Gibbon luridly evokes the Rome of 408 A. D., when the armies of the Goths prepared to descend upon the city. The marks of imperial decadence appeared not only in grotesque displays of public opulence and waste, but also in the collapse of faith in reason and science. The people of Rome, Gibbon writes, fell prey to ‘a puerile superstition’ promoted by astrologers and to soothsayers who claimed ‘to read in the entrails of victims the signs of future greatness and prosperity.’
Would a latter-day Gibbon describe today’s America as ‘decadent’? I recently heard a prominent, and pro-American, French thinker (who was speaking off the record) say just that. He was moved to use the word after watching endless news accounts of U. S. President Donald Trump’s tweets alternate with endless revelations of sexual harassment. I flinched, perhaps because a Frenchman accusing Americans of decadence seems contrary to the order of nature. And the reaction to Harvey Weinstein et al. is scarcely a sign of hysterical puritanism, as I suppose he was implying.
And yet, the shoe fit. The sensation of creeping rot evoked by that word seems terribly apt.
Perhaps in a democracy the distinctive feature of decadence is not debauchery but terminal self-absorption – the loss of the capacity for collective action, the belief in common purpose, even the acceptance of a common form of reasoning. We listen to necromancers who prophesy great things while they lead us into disaster. We sneer at the idea of a ‘public’ and hold our fellow citizens in contempt. We think anyone who doesn’t pursue self-interest is a fool.

This post was published at Zero Hedge on Dec 25, 2017.