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Energy Tomorrow Blog

Study: Effects of Gulf Drilling Policies Detailed

permits  offshore drilling  moratorium  gulf of mexico  access 

Mark Green

Mark Green
Posted January 11, 2012

Policies have consequences. Certainly, we’ve seen economic impact in the 2010 decision to halt deepwater drilling in the Gulf of Mexico and the subsequent slow pace of oil and natural gas permitting. A new study released by API underscores this:

The effects of the deepwater drilling moratorium and subsequent permit slowdown have already reduced total capital and operating expenditures in the Gulf of Mexico by a combined $18.3 billion for 2010 and 2011 relative to pre‐moratorium plans. Since April 2010, eleven deepwater drilling rigs have left the Gulf of Mexico. These rigs have gone to countries such as Brazil, Egypt and Angola. Through 2015, the investment in other regions instead of the U.S. associated with these rigs is estimated to be over $21.4 billion including drilling spending and associated project equipment orders, even accounting for the portion of equipment that will likely be manufactured in the United States. As a result of decreases in investment due to the moratorium, total U.S. employment is estimated to have been reduced by 72,000 jobs in 2010 and approximately 90,000 jobs in 2011.

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Offshore Drilling Can Resume for 13 Companies

access  bakken shale  boemre  boemre  deepwater drilling  deepwater drilling moratorium  domestic energy  drilling permits  eagle ford shale  energy information administration  energy policy  gulf of mexico  moratorium  offshore drilling  offshore drilling moratorium  oil production  permits  offshore oil production 

Jane Van Ryan

Jane Van Ryan
Posted January 3, 2011

The administration announced today that 13 oil and natural gas companies can resume deepwater drilling activities in the Gulf of Mexico without submitting revised exploration or development plans for supplemental environmental reviews. 

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The Price of Fuel and Ill-Conceived Policies

crude oil  department of the interior  diesel  diesel fuel  domestic energy  energy policy  fuel  fuel prices  gas prices  gasoline  gasoline prices  gulf of mexico  moratorium  offshore drilling moratorium  oil demand  prices  ulsd  ultra-low sulfur diesel 

Jane Van Ryan

Jane Van Ryan
Posted December 30, 2010

Gasoline prices rose to their highest level in the past two years yesterday. According to AAA, the average price of gasoline climbed one penny Dec. 29 to $3.071 per gallon. This is the highest level since October 15, 2008, when the average price of gasoline reached $3.084. 

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More Drilling Delays Announced

access  deepwater drilling  domestic energy  energy demand  energy policy  government  interior department  offshore drilling  offshore drilling ban  offshore drilling moratorium  deepwater wells  environmental review 

Jane Van Ryan

Jane Van Ryan
Posted December 9, 2010

The administration is erecting more roadblocks to offshore drilling. According to published reports, the government will require an environmental assessment for each and every deepwater well. It also plans to extend the government's timeframe for exploration plan review from 30 to 90 days. 

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