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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: DELT1970 who wrote (142351)	12/7/2010 8:35:36 AM
From: Ed Ajootian	of 206178

Thanks Delt, hopefully this provides a good solution. FWIW here's today's energyintel commentary on the matter: World Watch -- Comment & Interpretation on Today's News The panel set up by President Barack Obama to recommend policy reforms in the wake of BP’s Macondo disaster is pressing the US oil industry to create its own "safety institute" along the lines of the one that oversees the country’s nuclear power sector. This is a sensible move -- history shows that shifting the safety burden from regulator to industry tends to improve safety performance -- but it will be interesting to see how the oil industry responds. There has been much talk post-Macondo of the need to learn lessons, but Big Oil is not particularly good at learning them from other industries. After the Shell reserves debacle of 2004, the oil sector had the chance to avoid further such embarrassment by adopting the mining industry’s more transparent reserves booking rules. It was a chance it didn’t take. Much more is at stake in offshore safety, however, which may convince the oil industry to be more open to outside suggestions. Jim Washer, London

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