The massive leak is complicating the belief that the Gulf of Mexico is the nation’s best source of oil and natural gas. Experts predict that production will slow while regulation and deep-water drilling costs will increase.
The BP disaster has complicated the view that the Gulf of Mexico is Americas best source of crude oil and natural gas. Above, workers on an idle oil rig off the coast of Louisiana. (Lee Celano, Reuters / August 10, 2010)
By Ronald D. White, Los Angeles Times August 14, 2010
Not long ago, federal officials were hailing the Gulf of Mexico as America’s best source of future crude oil and natural gas.
But the disastrous BP oil leak has complicated that view and may have a greater effect on the energy industry than any incident since the 1969 Santa Barbara oil spill, which led to the Environmental Protection Agency and a 27-year moratorium on most offshore drilling. read more
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