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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.
Matthew Denhart is an expert on immigration policy and is the author of the Bush Institute’s America's Advantage: A Handbook of Vital Immigration and Economic Growth Statistics, now in its third edition. He currently serves as executive director of the Calvin Coolidge Presidential Foundation and is a founder of the Coolidge Scholars Program which provides full-ride merit scholarships to America's most promising college students. A summa cum laude graduate of Ohio University, Denhart has written and spoken widely on a variety of policy topics including the economics of higher education, labor, and taxes. He has contributed articles to numerous national publications including The Wall Street Journal, Forbes.com, CNN Opinion, and Bloomberg View.Full Bio
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