Be Careful of What you Ask for…Posted on May 5, 2010 in Sub-Prime Mortgages in Arizona
My dad always said be careful of what you ask for because you might just get it.
“Drill, baby,drill” was a siren song during the last election and some were all too quick to want more off-shore drilling. Well, look what happened … The big spill has been unfolding for more than two weeks, pouring at least 5,000 barrels of oil a day into the Gulf of Mexico, and probably a lot more than that. It began on April 20th with a fire and an explosion on an exploratory rig 40 miles from the Louisiana coast. Eleven workers were lost (RIP), and several days later it became apparent that the well underneath had begun to leak. By April 26th the slick was 80 miles across, with the western part 36 miles from reaching the coast.
An array of Federal agencies are on the scene, skimming up oily water, installing thousands of feet of boom in an attempt to contain the oil, and burning off some of the slick. BP, which was leasing the rig, will spend at least $500 million on the clean-up. Much depends on the wind, which could push the oil out towards the open sea—or in the other direction. If the oil does reach Louisiana, the costs will be grave. The lawsuits will fly. The coastal marshes are home to abundant and various animal life, as well as to fishing and tourism industries.
The lawyers will be the only winners. Sad, Sad, Sad. Be careful of what you ask for … We may not be able to stop such environmental nightmares, but if you need legal representation for business or real estate disputes in the Phoenix, Arizona, area, call Bill Miller at 480.948.3095.