JASON J. CZARNEZKI

Although BP is standing by its claims to fund projects and make payments to victims of the Gulf Oil spill, BP also claims that federal efforts to curb ocean drilling may curb their cash flow making it more difficult to keep its financial promises.  And apparently Gulf drilling is the most lucrative part of BP’s portfolio.  See article here.  So now we have a neverending cycle: drilling caused environmental and economic damage –> need to pay for damage –> need more drilling to pay for damage, which may result in more damage.  Is this always the way for fossil fuel driven projects in America?  We sink money into existing fossil fuel technologies and fossil fuel supporting infrastructure like oil drilling, highways, and cars, and there is less incentive to move to new projects (renewable energy, trains) due to the large amounts already spent on existing infrastructure and technology.  This was certainly the case with the Stimulus Package, which divided money in such as way that the infrastructure of sprawl will persist, and individual energy consumption and the risk of climate change are being hedged against the creation of carbon-free automobile technology that will drive on existing highways, roads and bridges.