Mixing Oil and Water
An Inside Look at What Happens When Land Sinks and Oil Money is on the line
The state of Louisiana says it has a public duty to seize private land that sinks underwater. Families who have lived off that coastal marshland for 300 years say the state is using oil company research to grab millions of dollars in oil royalties from lands it failed to protect.
(story and video)
The U.S. Strategic Petroleum Reserve (SPR), once seen as a cornerstone of America’s energy security, is losing its shine in Washington.
“The SPR was established in the aftermath of the 1973-1974 oil embargo, which led to high gasoline prices, fuel rationing, price controls, and long lines at gas stations. The U.S. government decided to stockpile oil in salt caverns in Texas and Louisiana, fuel that could be used in the event of a supply outage. Today, the SPR holds 695 million barrels of oil. . . .
. . . with Congress unwilling to raise the gas tax, they are hunting for other sources of revenue to fund the six-year transportation bill. As a result, they have resorted to raiding the SPR.“
LEAN did a new fly-over and took PHOTOS.
Thanks to Walter for the tip. 😉