U.S. Behind on Offshore Drilling Plan
Source: Houston Chronicle, Jennifer Dlouhy (9/13/11)
"The five-year outer continental shelf plan is 'the bible' for planning offshore investments."
The nation's top offshore drilling regulator conceded in an interview that the government has fallen behind the recent historical pace in putting the five-year outer continental shelf plan together.
Energy companies use the schedule as a guide for planning investments, including where they may focus seismic and geological research.
"In the offshore, nothing happens without the five-year program," noted Dan Naatz, executive vice president of the Independent Petroleum Association of America. "It is the bible" of how offshore development moves forward. . .View full article