Oil Prices Reaching Record Highs News

WRONG! With oil prices reaching record highs and declines in production showing everywhere, there has never been a time that we needed to explore and produce the vast reserves in the Eastern Outer-Continental Shelf. President Bush ordered the lifting of the White House ban on offshore drilling on June 14, 2008. Assuming that Congress does what it should do, and finally lifts the ban on offshore drilling along US Coasts, one would think that we would be set to drill away. However, there is a serious hump that we have to overcome in order to be able to explore the deep-water regions of the Outer Continental Shelf. We simply do not have enough offshore platforms, drill-ships and rigs to do the job. The drill ships that are currently built are not available, and will not be for some time.