Offshore industry faces mounting challenges


Numerous events in 2021 have sought to cripple the offshore oil and gas industry, long known for being the underdog and rising when faced with objection and controversy, reports Oilman Magazine.

If increased federal regulations and a historical pandemic were not enough, the Gulf of Mexico (GOM) witnessed a hyperactive hurricane season that resembled a game of cat and mouse. Hurricane Ida’s entrance into the picture devastated south Louisiana and wreaked havoc on offshore assets and production.

Governmental regulation has been especially impactful, particularly in the post-Deepwater Horizon world. While some of this has changed the industry in good ways, a barrage of other laws and orders has sought to destroy it.

With the outcome of the 2020 presidential election, political direction concerning fossil fuels has changed course. This new direction has found applause among environmental groups as it places increased emphasis on alternative energy. Read the entire story.