Smart Oil & Gas

Archives for December 2010 « Recent Articles

Photo of Jill FeblowitzOffline

The oil and gas industry seems to be back on the way to recovery, despite the prospect of a moratorium on drilling   The price of oil reached a two year high on December 3, with January delivery up $1.19, or 1.4%, to $89.19 a barrel on the New York Mercantile Exchange, the highest close since early October 2008.  At the same time, the industry has upped its capital investments.  According to a recent study by Wood MacKenzie, global capital investment will come in at $380 billion, $19 bil

Photo of Rick NicholsonOffline

This week the Obama Administration announced that it would continue a moratorium on offshore oil & gas drilling in the Atlantic, Pacific and eastern Gulf of Mexico for at least the next seven years.  This reverses an announcement last March in which the administration said it would consider opening the Atlantic coast and eastern Gulf to offshore drilling.  The Deepwater Horizon incident and resulting oil spill obviously changed all of that.

Viewed 703,946 times