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Friday, November 21st, 2008
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Rearranging the Deck Chairs on the Titanic

  GAO scolds Interior Department on failure to encourage Energy Development The U.S. Government Accountability Office has recommended that the Secretary of the Interior “develop a strategy to evaluate options to encourage faster development of its oil and gas leases.” The report to Congress, dated October 2008, goes on to say that the federal department does less than some state and private landowners in this regard. Beyond this, GAO statistics indicate that only 25 percent of all federal offshore leases granted were actually developed over a ten year period under study. To be sure, the study has merit ... < Read More >
NTSB Determines High-Risk Maneuver Caused 2007 Baton Rouge Marine Accident

  Washington, DC (October 30th 2008): The National Transportation Safety Board has determined that the probable cause of the M/V Kition's collision with the Interstate Highway 10 bridge in Baton Rouge, Louisiana, was the pilot's attempt to execute the high-risk maneuver of turning at the dock immediately above the bridge rather than moving the vessel downriver through the bridge before turning, or taking it well upriver, then turning. "This accident involving a large ship carrying a load of carbon black (a petroleum product) striking a highway bridge could have been catastrophic," said NTSB Acting Chairman Mark V. Rosenker. ... < Read More >
The Impact of Oil Price Volatility on the Maritime Industry: A double-edged sword

  Falling bunker prices are only part of the big-picture equation. I had the good fortune to be in Washington, DC last week on business and was able to time my schedule so as to attend a joint Kings Point / Propeller Club function in Arlington. The luncheon included a series of lectures on “The Impact of Oil Price Volatility on the Maritime Industry,” followed by an informal Q&A period. I’m guessing there were as many as 100 industry executives, Kings Point alumni and a few of us state academy-types in attendance. The well-attended affair touched upon some ... < Read More >