The Rising Influence of Rising Affluence

[OakesCS]

The Fed official who asked about the drill ship should be fired and the inclusion of the question in the story gives the appearance that the wsj writer has a bias. At the time the investment was made there were many companies in the oil industry making big investments in deep water drilling vessels. The surge in production from hydraulicly fractured land wells hadn't happened yet and deep water was seen as the next big target. GE was making a big move into O&G so buying a drill ship wasn't unreasonable.

I don't remember if Dante had a ring for the hindsight crowd but they certainly deserve one.