Offshore Drilling Plan Not Subject to Obama Review
The US Minerals Management Service said that its new five-year plan for drilling on the US outer continental shelf (OCS) “isn’t affected” by the review order issued on Tuesday by the Obama administration. The plan was published in the Federal Register yesterday, one day after President Obama ordered a halt to new rule making.
According to Platts, the draft rule could be amended or killed once comments are received.
Predicting what the new administration is likely to do about offshoredrilling is a dangerous game. With oil prices where they are now,public demand for new OCS drilling is very likely to cool. When pricesgo up again, that attitude could very easily change.
January 22, 2009