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Crude price, which averaged at USD 55 a barrel between fiscals 2016 and 2021, increased to USD 86 a barrel on average since fiscal 2022. Higher crude prices have, in turn, incentivised increased capex in offshore exploration and production activities, driving up demand for offshore rigs.
Crude price, which averaged at USD 55 a barrel between fiscals 2016 and 2021, increased to USD 86 a barrel on average since fiscal 2022. Higher crude prices have, in turn, incentivised increased capex in offshore exploration and production activities, driving up demand for offshore rigs.
Disaster. same blowout preventer technology that has been singled out as having failed during the bp oil disaster and that we now know would fail again even if used as directed. no new nothing as a result of the bp oil disaster. and this permit was approved last month. with an oil spill response plan dated seven months before the largest oil spill in u.s. history. with the administration's assurance about all the rigorous new safety standards these companies are going to be following. we contacted the government. we contacted the department of the interior after we obtained this document becau...
The estimate is at 13 billion barrels of oil. off the east coast of the atlantic, only 4 billion. but look here in the gulf coast. in the gulf of mexico, 72 billion barrels of oil. that's off the coast of texas, louisiana, mississippi, alabama, and florida. and that's what takes us today to a very personal story about the future and the livelihoods of folks living down there and patti ann has that now. patti ann: that's right, the oil gusher is doing a double whomy -- wham qule on -- whammy on the coast. a moratorium on deep water drilling is idling thousands of workers. rig operators could be...
Help the people, brian. >> brian: let me jump in, i have a couple of questions i think are important to the issue. number one, bp. everybody says is responsible, but if you listen very carefully to what the officials at bp have said. they've sort of suggested from time to time, well, it really was the rig operators responsibility to make sure that all the safety rules were followed. are they going to try to shut it off on the regular operator which they hired? >> brian, you're going tsee them pointing fingers at everybody. look, this isn't b p's first rodeo, they have a checkered safety record...