Thanks SP, I read the testimonies. It is clearly a very complex...

Thanks SP, I read the testimonies. It is clearly a very complex issue.

I guess the only thing we can conclude is that off-shore drilling will never be the same again.

Maybe the US will take this kick in the guts as a sign to move toward cleaner energy sources, rather than the gung-ho approach of 'find it, drill it, refine it, sell it'. And maybe they will now take note of peak oil. The only reason they are drilling in deeper and deeper water is because the easy-to-extract oil is all gone.

This incident could well spark a new round of GFC2, as in... drilling moratorium -> supply crunch -> oil price spike -> new financial crisis.