Arbor Wealth responds: Tom is referring to a measure that recently passed the U. S. House by a vote of 237-187. The bill would repeal the moratorium on drilling off the Northwest Florida coast and if approved by the Senate, would allow drilling 25 miles off our coastline here in the Panhandle.
Let’s consider another part of the state in answering your question, Tom.
Our temporary headquarters at a recent Orlando international economic conference was a residence on Lake Apopka. The vista was breathtaking, but the scene was eerie and sad. Lake Apopka is dead due to man-made pollution. Few fish populate the lake, and those that do are inedible. Birds that snare the species that inhabit the lake are often found dead.
Recreational boating is not a popular pastime, as few desire to come in direct contact with the water. During a four-day stay, we saw no swimming, no canoeing, no kayaking. And Lake Apopka is no pond. It’s a 60,000 acre lake, the third largest in the state.
Here are a couple of quotes from a 1991 Jacksonville Times Union article: “one of Florida’s largest, dirtiest lakes has become an environmental tragedy… more than 450 birds have died this winter of apparent poisoning… spotted a large white pelican that fell in convulsion in shallow water… Federal wildlife officials have warned there may be dangers to human health.”
It is always sad when a beautiful body of water becomes a toxic liability. Moreover, it’s also bad for business and the economy. The values of residences surrounding Lake Apopka have been significantly impacted by the decline in water quality.
Imagine telling a prospective buyer, “When you purchase my waterfront home, you’ll not be boating, swimming or fishing in the lake. But you’ll enjoy the scenery.”
Keeping oil out of the Gulf, the Bay and our coastal dune lakes is the best way to maintain the quality of our unique ecosystem and to guard our economic welfare. Folks have short memories. It was just 20 months ago that the worst oil spill in history virtually devastated our economy for the better part of a year. Businesses shut down, home values fell. The tourist economy was ruined.
We used to call it conservation when I was younger, and the term had a noble connotation. Now though, somehow the term environmentalism has given a bad name to those who want to keep our water clean. In truth, clean water and a healthy environment is good for business, and thus good for the economy.
And these are just the environmental and economic concerns. Representatives Jeff Miller and Steve Southerland fought the passage of the recent House bill because it might endanger missions emanating from one of our seven local military bases.
Do we really want the Gulf of Mexico, our most precious liquid asset, awash in black oil? A news story released on Monday, Feb. 6 declares that a new dead zone in the Gulf, this one four times as large as its predecessor, has been recently discovered. In 2010, a 250-square-mile area off the coast of Louisiana was so depleted of oxygen that it could not support life. Scientists think that the new dead area may “possibly extend…to the Florida Panhandle.”
The Gulf has enough environmental problems without new drilling. The implementation of sound environmental policy in the Gulf should be a preeminent economic priority for our decision makers. Send the folks an email, won’t you?
Margaret R. McDowell, ChFC, AIF, is the founder of Arbor Wealth Management (850-608-6121— www.arborwealth.net), a fee-only registered investment advisory firm located near Sandestin. Arbor Wealth specializes in portfolio management for high net-worth clients.
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