1982•Offshore; (United States)Requires access
Offshore fares well in energy storm
E.R. Ball
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Abstract
The effects of the worldwide economic slowdown on the energy industry in general, and offshore petroleum production activity, in particular is discussed. The world crude oil supply is reviewed, and the effects of the petroleum glut are evaluated for onshore and offshore activity. Offshore drilling has fared better than most of the other energy industry sectors, primarily because major operators, worldwide, still view the offshore as the prime province for large oil discoveries, particularly in the United States. (JMT)