A Decade of Oil: From Deepwater Horizon to Deflation

America's latest oil boom began with a bang, literally, on Earth Day, 2010. That’s when an offshore oil rig owned by BP exploded, killing eleven workers and spilling nearly five million barrels of oil into the Gulf of Mexico. John Hofmeister, co-founder of Citizens for Affordable Energy, was in Washington D.C. at the time.

“We simply have to get what are called negative emissions. The oil and gas industry, I think, is supremely qualified to have the scale, to have the engineers, to have this expertise, to undertake problems like that.” But can this tiger change its stripes? Heather Richards, who follows the oil industry for Energy & Environment News, is not so sure.

“Even though [the oil and gas business] has expertise, I don't think it's necessarily quite as easy to shift this industry,” she says. “It's difficult I think from this seat to say with great confidence ‘we’re just gonna move into the offshore wind, we’ll just do that.’”

Visit climateone.org/watch-and-listen/podcasts for more information on today's episode.

Guests:

John Hofmeister, Former President, Shell Oil Company; Founder and Chief Executive, Citizens for Affordable Energy

William K. Reilly, Former U.S. EPA Administrator; Co-Chair, National Commission on the BP Deepwater Horizon Oil Spill

Heather Richards, Energy Reporter, Energy & Environment News

This program was recorded via video on May 19, 2020.

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