Get started now on your loan application!

In the news...

Mineral Management Service director resigns

Mineral Management Service director resigns

As the BP oil spill began, so did calls for people to be held accountable for it, and one of the first people brought down is Elizabeth Birnbaum, or S Elizabeth Birnbaum, the director of the Mineral Management Service. The Mineral Management Service, or MMS, part of the Department of the Interior, is the office in charge of off shore drilling. The role of MMS and BP in the spill is thus far unknown. What is clear is that Birnbaum is out of a job, and a moratorium on offshore drilling for oil is going to be in effect.

Director of Mineral Management Service steps down

The explosion on the deep-water oil rig touched off the BP oil leak, which meant that someone would be held accountable at some point. No one is getting a loan until payday for an attorney just yet. One of the first government officials to be held accountable is Elizabeth Birnbaum, the director of the Mineral Management Service. She was asked by the Secretary of the Interior, Ken Salazar, to resign according to New York Times. On Thursday, May 27, she announced her resignation.

Off shore drilling halted by moratorium

Off shore drilling will be halted by a moratorium, which will be put in place by President Obama. The moratorium will last at least 6 months, and an offshore drilling rig being proposed for the Virginia coast will be scrapped according to the Los Angeles Times. Congress has thus far responded that Birnbaum is only the face of a deeply troubled agency.

Perhaps a moratorium is a good thing

Though off shore drilling can potentially offset the cost and need for imports, the potential for disaster is still one that requires a responsible approach to drilling. There is a ghoulish history of taxpayers having to foot the bill to clean up the damage after corporate entities have pillaged the earth and left, such as the various Superfund sites. Business is business, but private business ceases to even remotely offer a defense when taxpayers have to pick up the check on the mess, when the offending corporate entities have absconded with the profits.

Find more information on this topic:

New York Times

http://www.nytimes.com/2010/05/28/us/28drill.html

Los Angeles Times

http://latimesblogs.latimes.com/greenspace/2010/05/moratorium-on-deepwater-driling-to-be-extended-new-industry-rules-coming.html

Superfund sites

http://en.wikipedia.org/wiki/List_of_Superfund_sites_in_the_United_States

« »

Comments are closed.