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Posts on ‘May 29th, 2010’

New drilling rules’ impact goes beyond Big Oil

By CHRIS KAHN (AP) 28 May 2010

NEW YORK — President Obama’s decision to halt new deepwater oil exploration will extend beyond the Gulf of Mexico, affecting boat captains, helicopter pilots, mechanics and others who rely on drilling for their livelihoods.

The industry employs a community of service companies with 75,000 workers in the U.S. Many of them can’t afford to rearrange their plans as easily as oil giants like BP and Shell.

“This can’t be good,” said Mark Cuevas, owner of a crew boat that transports passengers and cargo to deepwater rigs and production platforms in the Gulf. Cuevas’ business focuses on established oil platforms not affected by Obama’s announcement. That business also will suffer as service companies go after a smaller number of drilling contracts. read more

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