Washington Babylon — June 22, 2010, 7:30 am

Offshore: Where the money is

From The Mufson Report (formerly known as The Washington Post):

Willie Sutton robbed banks because that’s where the money is. And oil companies venture into deep waters for exploration because that’s where the oil is.

That’s why — even though President Obama has imposed a six-month moratorium on deep-water exploration drilling in the Gulf of Mexico — the oil and gas industry is going to be back. And it’s why in other countries, the deep-water search hasn’t stopped.

Within five years, global deep-water production is expected to rise by two-thirds, to 10 million barrels a day, according to Cambridge Energy Research Associates. That’s equivalent to the amount of crude oil that the world’s largest exporter, Saudi Arabia, produces. And in the United States, improved technology for extracting oil from deep water accounted for about 70 percent of the increase in the U.S. Geological Survey’s estimates of recoverable U.S. oil reserves in recent years.

[Note from the publisher: As of today, the Washington Post has changed its name to The Mufson Report, in recognition of the fact that reporter Steve Mufson writes virtually all of the contents.]

Share
Single Page

More from Ken Silverstein:

Commentary November 17, 2015, 6:41 pm

Shaky Foundations

The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Get access to 165 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

December 2016

Separated at Birth

= Subscribers only.
Sign in here.
Subscribe here.

The Priest in the Trees

= Subscribers only.
Sign in here.
Subscribe here.

The Lightness

= Subscribers only.
Sign in here.
Subscribe here.

With Child

= Subscribers only.
Sign in here.
Subscribe here.

Standing Rock Speaks

= Subscribers only.
Sign in here.
Subscribe here.

Prose by Any Other Name

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
With Child·

= Subscribers only.
Sign in here.
Subscribe here.

"She glanced across the waiting room at a television playing a birth-control ad and laughed darkly. 'Jesus, Lord, it would be so nice if someone just pushed me down a flight of stairs.'"
Photograph (detail) by Lara Shipley
Article
Swat Team·

= Subscribers only.
Sign in here.
Subscribe here.

"As we shall see, for the sort of people who write and edit the opinion pages of the Post, there was something deeply threatening about Sanders and his political views."
Illustration (detail) by John Ritter
Article
Escape from The Caliphate·

= Subscribers only.
Sign in here.
Subscribe here.

"When Matti invited me on a tour of the neighborhood, I asked about security. 'The message has already been passed to ISIS that you’re here,' he said. 'But don’t worry. I guarantee I could bring even you in and out of the Islamic State.'"
Photograph (detail) by Alice Martins
Article
In This One·

= Subscribers only.
Sign in here.
Subscribe here.

"She glanced across the waiting room at a television playing a birth-control ad and laughed darkly. 'Jesus, Lord, it would be so nice if someone just pushed me down a flight of stairs.'"
Illustration (detail) by Shonagh Rae
Article
“Don’t Touch My Medicare!”·

= Subscribers only.
Sign in here.
Subscribe here.

"Medicare’s popularity, however, comes with almost no understanding of what the program is and how it works."
Illustration (detail) by Nate Kitch

Estimated number of people who watched a live Webcast of a hair transplant last fall:

8,000

A rancher in Texas was developing a system that will permit hunters to kill animals by remote control via a website.

A man in Japan was arrested for stealing a prospective employer’s wallet during a job interview, and a court in Germany ruled that it is safe for a woman with breast implants to be a police officer.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Who Goes Nazi?

= Subscribers only.
Sign in here.
Subscribe here.

By

"It is an interesting and somewhat macabre parlor game to play at a large gathering of one’s acquaintances: to speculate who in a showdown would go Nazi. By now, I think I know. I have gone through the experience many times—in Germany, in Austria, and in France. I have come to know the types: the born Nazis, the Nazis whom democracy itself has created, the certain-to-be fellow-travelers. And I also know those who never, under any conceivable circumstances, would become Nazis."

Subscribe Today