Wednesday, June 16, 2010

Phil Flynn: The 90% Solution

What do you get when you put together a Nobel Prize winning physicist, national labs and experts from academia and other oil companies? You get what could be called a 90% solution. President Obama addressed the nation from the Oval Office and said that his efforts to wage war against the oil spill that is assaulting our shores and our citizens would result in capturing up to 90% of oil leaking out of that BP well disaster. I would say that is an amazing effort. Yet while he wages war against this oil spill why he is not allowing our allies to help in the effort?

By not waving what is known as the Jones Act, or its real name the Merchant Marine act of 1920, he is slowing down the efforts to capture oil from the spill. The Jones act requires that all ships that carry goods in US waters be carried in U.S. flag ships, constructed in the United States, owned by U.S. citizens, and crewed by U.S. citizens and U.S. permanent residents. The problem is that this act would forbid the help of foreign ships that have the technology to.....Read the entire article.


Latest Video: The Talk Of The Day Is Crude Oil

New Video: How to Tell When a Market is Oversold


Share

No comments:

ShareThis