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In 1969 drilling bans were established for offshore California and Florida, and in 1990 President George H. W. Bush banned offshore drilling entirely. Nevertheless, offshore drilling continued in offshore Texas and Louisiana. Offshore drilling became central in the 2008 presidential election, not least because of the oil price increases since 2003.
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 ...
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 ...
What to know about Biden’s new offshore drilling restrictions. Rachel Frazin. January 7, 2025 at 3:00 AM.
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]
Offshore drilling began in California in 1896, when operators in the Summerland Oil Field in Santa Barbara County followed the field into the ocean by drilling from piers built out over the ocean. Leasing California state seabed is controlled by the State Lands Commission, which halted further leasing of state offshore tracts after the Santa ...
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.
Another argument for offshore drilling is that it will create a load of jobs, which indeed it may. However, being ugly and creating possible health hazards in the coastal waters, the drilling will hurt the tourist industry along the popular coasts, likely causing the loss of many other jobs.