Oil spill causes Obama to reconsider offshore drilling

Monday, 03 May 2010 02:51:51 (GMT+3)   |  
       

While barely a month ago that it looked as if there would be in uptick in the OCTG market with the potential of increased offshore drilling opportunities, the recent explosion on, and sinking of, an oil rig off the US Gulf coast has President Obama reconsidering his position on the issue.

President Obama Friday mandated that new offshore drilling projects not be issued unless rigs are able to show proof of certain safeguards, to prevent leaks, explosions, and other major environmental disasters.    He further ordered Interior Secretary Ken Salazar to report on new safeguard technologies which would prevent oil spills, and to learn what needs to be done in order to ensure the minimization of risk to the environment in offshore drilling environments.


Similar articles

Local Chinese steel pipe prices mostly decline

28 Mar | Tube and Pipe

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News