Fool me once…
The events since the BP well exploded and began spewing oil and gas into the Gulf of Mexico have forced President Obama's hand. No politician wants to be the one to catch the Peak Oil hot potato, but it looks like it's landed right in Obama's lap. In his Oval Office speech the other night, he came the closest any president has yet to frankly discussing the challenges we face (emphasis mine):
So one of the lessons we’ve learned from this spill is that we need better regulations, better safety standards, and better enforcement when it comes to offshore drilling. But a larger lesson is that no matter how much we improve our regulation of the industry, drilling for oil these days entails greater risk. After all, oil is a finite resource. We consume more than 20 percent of the world’s oil, but have less than 2 percent of the world’s oil reserves. And that’s part of the reason oil companies are drilling a mile beneath the surface of the ocean -- because we’re running out of places to drill on land and in shallow water. For decades, we have known the days of cheap and easily accessible oil were numbered. For decades, we’ve talked and talked about the need to end America’s century-long addiction to fossil fuels. And for decades, we have failed to act with the sense of urgency that this challenge requires. Time and again, the path forward has been blocked -- not only by oil industry lobbyists, but also by a lack of political courage and candor. The consequences of our inaction are now in plain sight.