Just as the oil companies told us that deep-water drilling was safe, they tell us that it’s perfectly all right to dump 90 million tons of CO2 into the air of the world every 24 hours. Even as the oil spill continues to grow—even as BP warns that the flow could increase multi-fold, to 60,000 barrels per day, and that it may continue for months—the head of the American Petroleum Institute, Jack Gerard, says, "Nothing has changed. When we get back to the politics of energy, oil and natural gas are essential to the economy and our way of life." His reaction reminds me of the day Elvis Presley died. Upon hearing the tragic news, Presley’s manager, Colonel Tom Parker, said, “This changes nothing.”
I am far from the only one who believes that it is not too much of a stretch to link the ongoing wars in Iraq, Afghanistan, and northwestern Pakistan—and even last week’s attempted bombing in Times Square—to a long chain of events triggered in part by our decision to allow ourselves to become so dependent on foreign oil.
Here at home, the illusion that we can meaningfully reduce our dependence on foreign oil by taking extraordinary risks to develop deep reserves in the Outer Continental Shelf is illuminated by the illustration below. The addition to oil company profits may be significant, but the benefits to our national security are trivial.
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