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American Opinion: On regulation of the U.S. oil industry

Excerpts from recent editorials in newspapers in the United States:

From The Associated Press

On the regulation of the U.S. oil industry:

It wasn't so long ago, when oil prices were on their way up to near $150 a barrel, that Lafayette business people began talking about the regulatory burden on the energy industry ...

Speed ahead to Friday, May 14, 2010. President Barack Obama mocked the performance of executives from BP, Transocean and Halliburton, who in the glare of international publicity tried to deflect blame for the BP Deepwater Horizon spill, one to the other.

Obama pledged to end what he characterized as the cozy relationship between those who regulate offshore energy production, particularly the federal Minerals Management Service, and energy companies.

The implication here is equally obvious: Regulators didn't do the job because they didn't want to inconvenience their buddies.

So, who's right? Do we have a paper-obsessed Big Brother eager to dictate, legislate and prom-ulgate every decision by the notoriously independent movers and shakers in the industry? Or is the Gulf Coast in danger of getting slicked up because of the good old boys who scratch each other's backs? ...

We'd like to think that this awful moment, combining as it does the threat of major damage to a unique and productive ecosystem and the security imperative to open more offshore areas to exploration and drilling, would scare some sense into both sides.

-- The Daily World, Opelousas, La.