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OBAMA’S OFFSHORE ENERGY POLICY COULD RESCUE OIL AND GAS EXPLORERS

28/07/2014 by

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The Obama administration may think so, having shifted gears in recent weeks and removed potential barriers to more drilling off the coast of the Atlantic Ocean. This is in addition to earlier moves that eased the steps for developers to pursue oil and gas deposits in the Gulf of Mexico and possibly off the coast of Alaska.

For a White House that has targeted oil company tax breaks and toughened drilling safeguards in the wake of the BP disaster, it’s a change of pace. But it is actually part of an previous plan — an Energy Security Trust Fund — to redirect some of those oil and gas revenues toward green energy ventures. That’s an idea that has resonance among key lawmakers on energy panels from oil and gas states.

What’s immediately at stake? Producers can use a technologically savvy device called sonic cannons that shoot off pulsating sound waves that hit the bottom of the sea floor and that return to the top, all of which is captured by computers that interpret the data and create three-dimensional drawings. Bottom line: Those developers can get a pretty good handle on the oil and gas that is offshore.

This article has been extracted from http://www.forbes.com, please click on this link to read the article in full http://www.forbes.com/sites/kensilverstein/2014/07/28/obamas-offshore-energy-policy-could-rescue-oil-and-gas-explorers/

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