EUGENE GRANER: WHY DEEPWATER DRILLING/EXPLORATION IS SO IMPORTANT
WHY IS DEEPWATER DRILLING/EXPLORATION SO IMPORTANT...
A picture explains it all. Note the amount of Gulf (i.e. U.S.) offshore oil production now coming from Deepwater and Ultra
Deepwater production. The trend clearly shows a decline in Shallow water production (not allowed to drill near shore) and
an uptrend in Deep/Ultra-Deep production. Take away new Deepwater exploration/production, and….yikes!
A federal drilling moratorium stemming from the Gulf of Mexico oil spill could
slash deepwater (natural) gas production in the US by more than half within
four years. Ron Denhardt, VP Marketing,Lippman Research,
DakotaBeacon