Gulf Coast drilling will be a nail – biter! Deep water drilling is back but sluggish.
As I’ve said earlier in one of my blogs..the oil business is one of the most heavily regulated businesses in the world even before the Macondo oil spill. Now with stricter regulations, will some of our oil companies look to drill abroad? What’s wrong with this picture folks when we have a lot of off shore oil and we could keep it within the US??
-Oil companies in Louisiana have been hit so hard with regulations that they are on a wait and see as to whether they can continue operating.
-With the US Governments reshuffling of the regulatory regimen, they’re worry is that the stricter drilling rules will be worse than the moratorium, creating such a financial burden that oil firms will not commit to long-term projects in the deep-water gulf. Think about this. If we want to become oil independent you tell me how we’re supposed to go about it?
Folks outside the US are not fools…and I’ll tell you why in the next blog.