If this is true, it's obviously a good thing that the U.S.'s dependence on foreign sources of oil would decrease. But there are likely many environmental risks to extracting this oil (the well is in very deep water). Since corporations enjoy their limited liability, if anything went horribly awry, there'd end up being a lot of uncompensated environmental victims in the vein of the Valdez fiasco.
Butch Morgan of 123beta pinged us with Tuesday's Best - Round-Up
Tagged as: oil Gulf of Mexico