May 25, 2010 8:27 AM by Bea Karnes, News First 5

Changes coming in offshore drilling

Experts say the petroleum industry's loose regulation and failure to plan for the worst is likely to change given the focus of attention on BP's massive oil spill in the Gulf of Mexico.

Regulators are likely to make permitting, inspections and equipment requirements for rigs more stringent. Lawmakers want to extract more money from the industry to help pay for any future cleanups. And insurers are bound to raise rates for underwriting a risky business.

But longtime oil analyst Fadel Gheit of Oppenheimer & Co says the increased scrutiny - and cost of doing business - is all worth it. He says the industry is vital and can't be allowed to self-destruct.

But experts say regardless of regulations, the industry's expanding pursuit of oil and natural gas deposits under the ocean floor won't change.


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Falcon school fights to save student's life

FALCON- Aden Knar, a third grade student at Falcon Virtual Academy, is in need of a life-saving bone marrow transplant. His school, Falcon Virtual Academy, will host a bone marrow donor drive tomorrow to help find a match Aden. Knar, 10, was diagnosed at age 4 with acute lymphoblastic leukemia and entered remission in 2008. In November 2013, the Knar family learned that the leukemia had returned, and is now isolated in his bone marrow. In an outreach of support, Falcon Virtual Academy hosted a bone marrow donor drive in January, and will be hosting another tomorrow from 10 a.m. - 2 p.m. at 6113 Constitution Ave., directly west of Care and Share Food Bank for Southern Colorado. "We wanted to reach out to the family again," said Jodi Fletcher, assistant principal. Fletcher explained that more than 250 people participated in the January drive, and she hopes to have similar numbers April 19. The money from a bake sale at the drive, and a portion of the proceeds raised from a spring formal...

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