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Offshore drilling became central in the 2008 presidential election, not least because of the oil price increases since 2003. It was also being debated in terms of both environmental issues and U.S. energy independence. As of September 2008, President Barack Obama was for limited offshore drilling as part of an extensive energy independence ...
Companies drill for oil or natural gas for one reason -- profits. But drilling on land and drilling offshore provide two different return-on-value calculations and time horizons.
An oil drilling platform in the Gulf of Mexico. (Getty Images) An energy industry researcher says, despite both praise and criticism of President Joe Biden’s executive order banning offshore ...
After proposing a major expansion in offshore drilling early in his first term, Trump in 2020 extended a ban on future oil drilling in the Eastern Gulf and expanded it to include the Atlantic ...
The U.S. Energy Information Administration (EIA) reported that in 2010, 23.5% of U.S. oil production came from offshore drilling in the Gulf of Mexico [15] The chief argument in the U.S. offshore drilling debate has been to make the United States less dependent on imported oil.
For this reason, most US offshore drilling has taken place offshore Louisiana, Texas, California, and Alaska, areas with coastal onshore oil and gas fields. "Possibly in some future age, when all known petroleum fields shall have been drained of their richness, oil men may seek refuge in King Neptune's realm."
While Biden views his offshore drilling ban as a way to hasten the United States’ “transitio[n] to a clean energy economy,” his successor wants to maximize U.S. oil and gas production to ...
When offshore drilling moved into deeper waters of up to 30 metres (98 ft), fixed platform rigs were built, until demands for drilling equipment was needed in the 100 feet (30 m) to 120 metres (390 ft) depth of the Gulf of Mexico, the first jack-up rigs began appearing from specialized offshore drilling contractors. [11]
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