The government’s top offshore energy overseers on Tuesday defended the Obama administration’s approach to oil and gas drilling along the nation’s coastlines, insisting that market forces — not federal regulations — were discouraging the activity.
With the finishing touches complete, Big Foot shipped out from Corpus Christi on Saturday morning en route to the Gulf of Mexico where it will float in the Walker Ridge area, 225 miles south of New Orleans.
The Houston firm said this week it is set to sell off its least important assets and plans to either reorganize or sell its main subsea contracting business, which helps oil companies maintain offshore production platforms and pipelines.
Interior Secretary Sally Jewell said the Obama administration will decide soon whether to yield to Shell’s request for an extension of its Arctic drilling leases. Statoil and ConocoPhillips have made parallel requests for leases that will begin expiring in 2019.
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