Offshore Drilling Sites Could Expand

Monday, September 12, 2005
As the clean-up and recovery in the wake of Hurricane Katrina proceeds, industry and lawmakers are apparently considering opening additional offshore sites for energy exploration and production to minimize disruption to the nation’s energy supply chain in the event of future natural disasters.

According to a report at The State.com – South Carolina’s Home Page, some South Carolina lawmakers are pushing for a change in federal law that would allow drilling for natural gas off the state’s coast. Another report from the Boston Herald reports that some Republicans reportedly may advance a plan to let states sponsor exploration for oil and gas in federal waters off their coasts now closed to drilling. As oil prices soar in the wake of Katrina, forcing the President to temporarily lift the Jones Act as a means to ensure enough ships are available to deliver oil and gas, lawmakers and industry alike are scurrying to ensure this scene is not repeated in the event of another natural disaster in the critically important Gulf of Mexico area.

State lawmakers are apparently pushing for lifting the federal moratorium in certain areas, envisioning a windfall of gas royalties for their states. While the movement is in its infancy, it will undoubtedly hit resistance from environmental groups. According to The State.com report, a recent Interior Department survey indicated there might be as much as 327 trillion cubic feet of natural gas off the U.S. coast in areas under federal control.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Sembcorp Profit Halved as Clients Defer Projects

Revenue falls 30 pct; order book at S$9.7 billion. Singapore rig-builder Sembcorp Marine's quarterly profit halved as customers deferred projects, and it faces

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0890 sec (11 req/sec)