Monday, June 25, 2018
Deep-Water Drilling Is Back via Bloomberg
The three-for-one hub is part of a wave of innovation by oil majors including Chevron,  BP Plc , and  Royal Dutch Shell Plc  that’s allowing deep-water production in the Gulf to bounce back from disasters both environmental (BP’s Deepwater Horizon spill in 2010) and financial (the  oilprice crash of 2014 ).

While U.S. shale production has been dominating markets, a quiet revolution has been taking place offshore. The combination of new technology and smarter design will end much of the overspending that’s made large troves of subsea oil barely profitable to produce, industry executives say. New projects are targeting costs of about $35 to $40 a barrel, which would compete with the lowest-cost shale assets. Cutting costs lets operators tap oil reserves that were previously uneconomic to exploit.
GEST Supports President Trump’s Revocation of the 2010 National Ocean Policy
Gulf Economic Survival Team (GEST) Executive Director
Lori LeBlanc issued the following statement on President Trump’s
Executive Order on National Ocean Policy:

“The Gulf Economic Survival Team applauds President Trump’s  Executive Order  which revokes the previous Administration’s burdensome and over-reaching policy by removing a major threat to the U.S. economy, American jobs and critical energy infrastructure development. GEST supports engaging stakeholders to ensure reasonable, transparent, multi-use, and effective ocean policies within the existing statutory framework that benefit all ocean users and remove barriers to effective coordination.

President Obama’s  2010 National Ocean Policy  was ill-conceived, unnecessary, and an unauthorized top-down bureaucracy that failed any test of agency accountability and has been operating without any statutory or budgetary authority. The policy threatened to introduce new permitting hurdles that would impose further delays, uncertainty and burdensome conditions to the oil and gas industry, all to the detriment of jobs and economic growth.  The policy was an attempt to implement “ocean zoning” in the Gulf of Mexico and other coastal regions that could have prohibited or delayed offshore oil and gas activity that is vital to the United States economy.”

“For the past 60 years, the Gulf has been our primary source for producing offshore energy, generating approximately 97 percent of all domestic offshore oil and natural gas. In 2016, offshore oil and natural gas production accounted for approximately 18.2 percent and 4.4 percent of U.S. production respectively. This production is a critical component to ensuring a dominant U.S. oil and natural gas industry in the future. Overly burdensome policies on the offshore industry hinders capital investments which in turn impacts our local offshore service companies and cripples local economies along the Gulf Coast.”
Article: Trump ocean policy applauded Via Houma Today
Offshore Oil and Natural Gas Development Drives US Energy and National Security Via Real Clear Energy
Energy is the driving force for growth and quality of life in every nation, large and small. National security depends on it. Wars have been fought over it. A nation cannot reach or sustain its potential without large-scale access to it. Domestic energy production fills these needs and is a key contributor to a healthy economy. And there are few levers more powerful for a nation’s international position than energy independence.

America’s strategic position has improved in recent years due to an “all-of-the-above” energy policy. But we remain vulnerable in an expanding global economy marked by ever-growing energy needs and potentially troublesome energy alliances, such as  Russia’s recent accord with OPEC , that have the potential to manipulate the flow of oil.
Louisiana to get $992,000 for outdoor recreation and conservation projects Via The Times Picayune
Louisiana will get nearly $1 million from federal offshore lease revenues for outdoor recreation and conservation projects, U.S. Secretary of the Interior Ryan Zinke announced Monday (June 11).

The money, from the Land and Water Conservation Fund (LWCF), is part of $61.6 million distributed around the country through the Gulf of Mexico Energy Security Act (GOMESA), and federal matching grants that leverage investment in America's state and local public parks.

"This year's distribution of GOMESA revenues is a significant increase from past years," the Department of the Interior's news released said. Louisiana's share, however, has remained steady at $992,393, identical to last year.
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Gulf Proud. Energy Strong .  
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