Today, a judge is supposed to make that call. I think it might be a tad too soon to tell…the most recent article I could find on it was for three days ago. In a day or so, we should have the answer to this question.
If this is simply a matter of opinion, I believe there will be more drilling in the Gulf of Mexico. Currently, the Gulf’s oil production accounts for 2% of crude oil worldwide. There are currently over 4000 rigs in the Gulf and I believe that number will continue to grow unless we begin drastically switching to renewable energy resources. I doubt the decision today will be in favor of slowing oil exploration until we have a way to account for the energy that will be needed.
Drilling continues right now. The moratorium was only for deep water (over 5000 ft). As of July 2010, there were 13 exploratory rigs operating in the waters off Louisiana and two offshore Texas. The comparable statistic for July 2009 was 36 total. The Feb 2010 forecast total wells in the GOM for the year was 392 (vs 397 for 2009). That number will probably be somewhat less because of the politics, but not a lot less when all is said and done.
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