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Guggenheim: New Offshore Legislation Could Be Devistating

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Jeannie Stell
July 1, 2010

Congress is considering new legislation that will dramatically and adversely impact domestic energy production offshore Texas, Louisiana, Mississippi and Alabama, says Tim Murray, managing director of Guggenheim Partners LLC.

“The Macondo well blowout (by BP Plc in the Gulf of Mexico) is a disaster that has cost 11 lives and environmental damage that is yet to be accurately quantified. Despite the impact of this disaster, Congress must not act irrationally and emotionally to this incident,” he warned.

“Unfortunately, some in Congress are quickly moving forward with legislation that will have ...

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