While we suffer from our problems over here, we might be thinking our problem is the primary concern of the US, as well. Let's be realistic. The primary concern of the US nowadays, is the oil leaking from the deepwater well in Gulf of Mexico. The matter has been on the agenda for almost two months, now. It is the only concern of the White House, nowadays. At this point you might say: 'What do we care? Environmental disasters are terrible but this matter doesn't concern us.' Well, you are wrong. At first I thought, 'This is the difference between the earthquakes in İstanbul and in Erzincan, the media only takes interest in things when it comes to affect them.' But apparently this is not what it's all about. The matter actually concerns all of us a great deal, due to the fact that the White House is handling the matter this carefully, the size of the public opinion reaction and the increasing importance of deep sea reserves concerning oil prices. Are you aware that the oil prices can not anymore be what they used to be? Those of you who wonder are welcome to join me down the article.

What is that this accident caused by the British Petroleum (BP) company should teach us? I have come up with five different conclusions. Let's have a look: The first one is the fact that oil searching and drilling activities are being performed under harder circumstances day by day. Back in the day, not long, only forty years ago, oil companies used to drill oil from a couple of meters below the sea level, but now they have to try to drill from thousands of meters below. The leak that can't be stopped for two months is from a well in Gulf of Mexico. This well isn't the first deep sea well of this gulf, too. While in 1997, the number of oil producing deep sea well projects in the same area was 17, this number rose to 141 by 2008. This means there are a lot more potential dangers. The deep sea well projects of Brazil, Nigeria, Angola and the US are multiplying day by day. According to what experts say, right now, on our beautiful blue planet, there are 160 deep sea oil wells. And 88 more projects are about to be put into practice, which means we are faced with a serious inclination. If the technical civilization that we are a part of keeps on spreading the present hunger for oil to every single part of the globe at the same rate, oil searching and drilling will have to be performed more costly day by day. The increasing demand for oil might soon justify drilling oil from the Black Sea. This is the first analysis that the accident in Gulf of Mexico should remind us: Lots of similar accidents might happen.

Here is the second point: Although the hunger for oil of our civilization makes it necessary to drill oil in harder conditions, oil searching-drilling technology in such a deep sea well is not developed enough. As can be practically seen in Gulf of Mexico, divers can not dive into cold sea bottom, below a certain feet. Only remote control machines with no humans inside, can be operated. And these remote control machines can not take the measures humans can, in case of emergency. So, this is what happened: Popular sea-bottom oil fields were aimed at without building safety standards considering sea-bottom oil industry. If those fields had not been or weren't being put into operation until now, the oil prices would probably have increased faster. From now on, they will. Increasing needs and demands caused the matter to be handled with the 'nothing can go wrong' attitude. The fact that the US administration limited the responsibility of oil companies in these kinds of fields during Obama's term, should be interpreted as a political support for the process. But such an unfortunate accident happening during the term of the same administration has both made the process complicated and increased the possibility of the administration to take strict measures. This, should be the second main point.

What should be expected after this? From now on, the 'first precaution then praying' period has started in underwater oil searching activities. In 1968, another underwater oil field disaster in Santa Barbara, USA had been the start of a set of regulations. Nixon was the president at the time, so the oil lobby was powerful. The leak was prevented in a short while. But meanwhile, that matter caused the Environmental Protection Law to be enacted and the Environment Protection Management to be formed. According to what is said, the amount of oil leaked during those couple of days, has now been leaking everyday, for two months. What would you expect? Precautions, of course. And they will be taken, too. Let this be the third analysis: These kinds of accidents ought to be prevented.

So, what is it that should happen next? Oil prices, from now on, should be set in a manner including the natural disaster directly caused by the leak and climate change caused by emissions. It would be beneficial to readjust the prices in a way that would include a set of negative externalities oil might cause. This matter, too, should be added to the list while defining the new normal. To me, new taxes are inevitable. Plus, the new safety precautions will have an effect, as well. The oil prices might rise faster than expected in order to bring the post-oil, as soon as possible. And this is the fourth lesson that should be drawn.

The fifth and last point: The world is now closer to the post-oil period. We are one step closer to certificates, just like the CE Certificate, that will indicate the percentage of renewable energy used in the manufactured product. We will soon have to recall the 'renewable energy law' that we forgot in the Parliament. If we remember that immediately, we can take another early step towards the new normal.

This commentary was published in Referans daily on 22.06.2010