The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling released its findings last week and one portion is getting a large amount of attention:

"The United States has the highest reported rate of fatalities in offshore oil and gas drilling among its international peers, but it has the lowest reporting of injuries. This striking contrast suggests a significant underreporting of injuries in the US and highlights the need for better data collection to ensure needed attention to worker safety."

While every fatality is a tragedy, the Commission is incorrect here in their use of statistics, as our Fact Sheet explains:

"Historically, the U.S. government has attempted to estimate Occupational Injuries, Illnesses, and Fatalities using survey sampling and estimation me... more »

Oil prices on the global marketplace rose by $1.86 cents a barrel, or more than 2 percent, yesterday after the presidential oil spill commission recommended more government action to improve safety in the Gulf of Mexico. According to published reports, the commission's conclusions raised fears that the government might slow oil production from its already depressed levels.

Other factors also could have had an impact on the price yesterday. Foul weather along the East Coast, the closure of the Trans-Alaska Pipeline, and the government's latest crude oil demand and price predictions could have added to the upward pressure on the price, which closed at $91.11 yesterday on the New York Mercantile Exchange.

By and large, the fundamentals of supply and demand are the most important influences i... more »