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Changing CEOs want to raise BP's effect on the gulf war the energy industry joining me well it might.
It might joining me now for a look at the future and she's former energy secretary -- Spencer Abraham he's also author of lights out ten myths about.
And real solutions to America's energy crisis thanks for joining us secretary got.
Okay so big numbers today out of BP Tony -- gone mr.
Dudley is in BP announced today that it could cost us.
32 billion dollars to clean up the golf we already heard about the potential twenty billion dollars going into escrow here's a question.
They're going to save a lot of money and pay in taxes US and UK taxes that right.
What I guess that they have you know horrendous losses that's probably true but.
You know the companies obviously teetering so it remains to be seen me you know with their survival potentially great great point -- tell us what this stuff that what the effect of BP this environmental disaster.
Will be on US drilling policy my concern is.
Obama kind of flip flops reneged on their promise to open up those those people what -- real what rates of 33 rigs that he talked about opening up.
Well on the one hand obviously it's a it's -- in a very important wake up call that that we needed you know do a better job in terms of a monitoring.
And oversight with respect to drilling.
And the other hand one would hope it doesn't close down this entire industry because obviously.
We need to continue this in this effort we need the oil.
And and and have easily most people are operating in a responsible fashion you know I was secretary -- when we have the blackout 2003 and there was a you know after much investigation it was -- that was -- because.
Particular company hadn't done a good job of really keeping tree limbs from hitting power lines so we didn't close down the entire electricity sector.
Because of that instead we passed.
To require companies to behave better to follow standards that were.
Safer and that's what we need to do here.
And secretary tell us about the -- the changes at the Minerals Management Service that will affect drilling.
Well it remains to be seen how they all play out I mean obviously.
They're came to light a lot of factors and in and -- that.
As suggested perhaps that some of the people there had have been doing their job -- Wellesley could.
It remains to be seen when all the dust settles how true that is but obviously I think this is you know this is -- stimulate the kinda.
You know oversight that is required.
Again though you know and I don't think we should drive you know the conclusion that all drilling operations are poorly conducted.
I think for the most part they're done very safely they're -- environmentally and and and from a safety point of view from health point of view the right way.
And I don't think we should immediately leap from conclusion -- conclusions they you know we we allowed to the incident for instance at Three Mile Island to shut down any.
Building -- -- nuclear react or never -- or read example sir everyone uses if if a plane crashes that we shut down a whole airline industry I think we right now I need me.
And I believe it bears are they're they're tell -- got to -- -- I love having the -- him Spencer Abraham former secretary of energy.
The author of lights out ten minutes.
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