Ed Driscoll

Bankruptcy: It's not just for the Coal Industry Anymore

“Obama’s offshore oil drilling policy kills Texas oil company,” Bryan Preston writes at the Tatler. “Seahawk Oil experiences Obama style fundamental transformation:”

The first off-shore drilling company in the Gulf of Mexico to declare bankruptcy has blamed the government-imposed standstill for a shortage of shallow-water permits following the summer’s massive oil spill. Texas-based Seahawk Drilling, the second-largest shallow-water driller operating in the Gulf, announced it had filed for bankruptcy Friday and would be selling its remaining assets to Hercules Offshore.

Flashback to January of 2008 and the headline of the year the San Fransisco Chronicle was too stupid — or too much in agreement on — not to highlight:

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