COLUMN: When it comes to the drilling debate, what we already have in hand is worth protecting

You’ve heard the old phrase “one in the hand, two in the bush”? This, of course, refers to the greed that people face when they see two of something they want versus being thankful for the things they already have, thus risking what they have for something that they want but may not get.

This analogy goes a long way in describing the issue regarding oil drilling off the coast of our great state — except with a twist. See, what we face is an issue of “two in the hand, one in the bush.”

The two in the hand, those things we already have, are tourism and military. These two represent the two largest and most established areas of economic input for our area. The one in the bush is the presumption that drilling for oil off our shores will lower gas prices, improve our economy and somehow have no effect on tourism or military operations.

As a businessman and investor, I’m not seeing the risk reward here. Who is? The politicians who receive large sums of money from the Texas and Louisiana special interests, often referred to as the so-called “Florida Energy Associates.”

Of all those running for political office, very few show courage to stand up to special interest groups and represent the community’s best interests by speaking out against oil drilling in our waters.

While no one wants to pay high prices at the pump, if we look closely at the facts, we realize that drilling here will do little to nothing to relieve oil costs, but it certainly places at risk our fishing, tourism and military operations.

A recent Florida Senate report concluded that oil reserves in Florida waters will provide less than one week’s worth of oil and have no discernable effect on prices at the pump.

This bears repeating: less than a week’s worth of oil and no difference in cost at the pump! On the other hand, the effects of drilling would be devastating to our tourism if just one transfer spill occurs.

Regarding oil spills, the pundits claim that oil drilling is advanced and doesn’t create spills anymore, and they are mostly correct. However, the transfer of oil is where many of the oil spills occur. How that may affect our pristine, white beaches can’t be good. Have you seen how oil globs collect on the beaches to our west?

And as for our military commerce, any risk to the Eglin Gulf Range Complex would equate to the loss of critical, local jobs. In fact, the military alone adds up to $57 billion a year to Florida’s coffers, of which $16 billion is right here in our back yard. Our local military officials are not allowed to professionally comment on the matter. On a personal level, ask one or two if they think this oil drilling idea is good for their business.

What I find confusing is how so many of our local politicians state that they are pro-military and pro-tourism, but also pro-oil drilling in waters only two-plus miles off our shoreline.

Our current dependency on foreign oil is a problem — a big problem. But what’s the alternative? Good question, and there is no immediate remedy — but there is no immediate remedy if we open our waters for drilling, either.

Here’s a suggestion: What if we require the big oil companies to follow the same requirements made of the big pharmaceutical companies to release their patents? See, the big pharmaceutical companies are forced to release their drugs for generic use at some point “for the betterment of society.”

How does this relate to big oil? They own nearly all of the patents for alternative energies. When some smart guy or girl comes up with a way to convert common trash into rocket fuel, the big oil companies tend to buy them off. Great, except they sit on the patent. Why? Because it’s their competition! They are making a ton of money on oil — why would they want to invest all their profit dollars into alternative energy?

Regarding the patents, perhaps if they were forced to use it or lose it, we might see progress.

It seems as though the only entities that understand the theory of “one in the hand, two in the bush” are the big oil companies — especially when they can own the two in the bush as well!

Brian Haugen is a local financial advisor and current chairman of the Destin Area Chamber of Commerce.