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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Frederick who wrote (1202)	12/28/1999 12:36:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

Tanker spills are certainly a bigger risk than leakage from an offshore drilling rig. I think there was a recent tanker spill off the coast of France. Your point that there is a lot of major hypocrisy on the part of politicians and environmentalists is well taken. So what else is new? Somewhat facetiously I suggested that CCO ought to consider another lawsuit for bad faith business dealing and fraud on the part of the State of Florida. As the Judge said, there is clearly a valid contract between the State and Coastal Petroleum. It appears that one party to the Contract has clearly been violating the intent of the contract through gross misuse of Governmental powers. Abuse of power for financial advantage seems somewhat obvious here (They want to seize the property without paying just compensation). Is this major corruption or what? Where is the Civil Liberties Union when we need them? I think that the State of Florida has been trying to get the Federal Government to prevent Chevron from drilling in Federal waters. If Jeb is Governor of Florida and George W is President, perhaps the notion of turning the Florida Offshore Oil into a Federal Strategic Oil Reserve might get some political backing. Even if the Feds get involved in the funding, I would still like to see Coastal Petroleum retain the mineral rights for the long run, but CCO needs some payment up front and clearly deserves such payments if drilling and development is going to be deferred.