Bernard L. Weinstein — 4% Growth Fellow and Associate Director of the Maguire Energy Institute at Southern Methodist University — has recently published a new report on the state of deep-water drilling in the Gulf of Mexico. He finds that:
Although federal government officials claim deep-water drilling in the Gulf of Mexico has returned to “pre-moratorium” levels, in fact the number of active rigs actually exploring and producing in existing and prospective fields remains suppressed. In addition, the time required to get final permit approval has lengthened dramatically compared with three years ago. Consequently, oil production for the next several years will be 30% lower than was forecast by the Energy Information Administration prior to the Deepwater Horizon accident.
The full study, The Outlook for Energy Production in the U.S. Gulf of Mexico, is available by clicking on the link.
