• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
SUBSCRIBE
DONATE
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance
  FEATURED
BREAKING: Fossil Fuels Fall 25% by 2030, Renewables ‘Keep the Path Open’ in IEA Net-Zero Update September 26, 2023
Green Space Groups Gear for Bigger Fights After Ontario Reverses Greenbelt Land Grab September 25, 2023
Community-Driven Solutions Can Take Back Ontario’s Electricity Future: Torrie September 25, 2023
‘Apex Oil and Gas Lobby’ Undercuts Canadian Sovereignty, Laxer Tells Foreign Influence Probe September 25, 2023
Momentum Builds Toward COP 28 as Countries Back Fossil Fuel Phaseout September 25, 2023
Next
Prev

U.S. Investor Tide Goes Out on Newly-Accessible Offshore Oil and Gas

May 9, 2017
Reading time: 1 minute

David Wilson/Flickr

David Wilson/Flickr

 

The White House executive order to free up more of America’s offshore economic zone for oil and gas drilling may have about as much effect against market forces as Donald Trump’s continuing rhetoric about making coal great again.

Last month, Trump signed an executive order intended to reopen 120 million acres of Arctic and Atlantic Ocean waters that President Barack Obama had sought to permanently protect. But opening the areas doesn’t mean the industry will necessarily rush in, the Houston Chronicle reports.

  • The climate news you need. Subscribe now to our engaging new weekly digest.
  • You’ll receive exclusive, never-before-seen-content, distilled and delivered to your inbox every weekend.
  • The Weekender: Succinct, solutions-focused, and designed with the discerning reader in mind.
Subscribe

Industry interest even in the relatively sheltered Gulf of Mexico deepwater basin—to say nothing of truly hostile and expensive operating environments such as the Arctic—has sunk almost without a trace in the last three years, the Chronicle reports, citing data from the International Energy Agency. “The energy industry’s search for deep-sea pools of oil has almost completely stalled in the energy slump,” the paper notes.

Global investment in “frontier ventures” tumbled by two thirds between 2013 and 2016, from US$94 billion to $34 billion. Only 13% of new exploration greenlit in 2016 was offshore, less than half the average of the previous 15 years. The IEA, the Chronicle adds, “believes exploration spending will sink lower this year, to half of its 2014 level.”

In the American portion of the Gulf of Mexico, the 80 exploration wells drilled last year were down a third from the number in 2012, while deepwater development wells that actually deliver oil for sale declined 80%.



in Arctic & Antarctica, Community Climate Finance, International, Oil & Gas, United States

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

Jason Blackeye/Unsplash
International Agencies & Studies

BREAKING: Fossil Fuels Fall 25% by 2030, Renewables ‘Keep the Path Open’ in IEA Net-Zero Update

September 26, 2023
213
UNDP/flickr
Heat & Power

Community-Driven Solutions Can Take Back Ontario’s Electricity Future: Torrie

September 26, 2023
102
Wilson Hui/flickr
Oil & Gas

‘Apex Oil and Gas Lobby’ Undercuts Canadian Sovereignty, Laxer Tells Foreign Influence Probe

September 26, 2023
102

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

Jason Blackeye/Unsplash

BREAKING: Fossil Fuels Fall 25% by 2030, Renewables ‘Keep the Path Open’ in IEA Net-Zero Update

September 26, 2023
213
Cullen328/wikimedia commons

Manufactured Housing Could Dent the Affordable Housing Crunch with Energy-Efficient Designs

September 20, 2023
388
Wilson Hui/flickr

‘Apex Oil and Gas Lobby’ Undercuts Canadian Sovereignty, Laxer Tells Foreign Influence Probe

September 26, 2023
102
UNDP/flickr

Community-Driven Solutions Can Take Back Ontario’s Electricity Future: Torrie

September 26, 2023
102
Duffins Agriculture Preserve/North Country House Media via Greenbelt Foundation

Green Space Groups Gear for Bigger Fights After Ontario Reverses Greenbelt Land Grab

September 25, 2023
89
United Nations/Twitter

Momentum Builds Toward COP 28 as Countries Back Fossil Fuel Phaseout

September 26, 2023
80

Recent Posts

UniEnergy Technologies/wikimedia commons

Multi-Day Storage Can Deliver Cheaper Grid Reliability, Battery Maker Says

September 25, 2023
64
David Mellis/flickr

Top Food Brands Prepare for Supply Chains Disrupted by Climate Change

September 25, 2023
51
Power lines, Mississauga, Canada

Two First Nations Groups Vie to Build Northern Ontario Power Line

September 25, 2023
76
UN Climate Change/flickr

Don’t Attend COP 28 Unless You’re There to Help, Figueres Tells Oil and Gas

September 24, 2023
471
Jon Sullivan/flickr

Thorold Gas Peaker Plant Won’t Be Built After Unanimous City Council Vote

September 21, 2023
674
Rewat Wannasuk/Pexels

Virtual Power Plants Could Cut Peak Demand 20%, Save U.S. Grid $10B Per Year

September 20, 2023
128
Next Post
Djwosa/Pixabay

‘Trusted Voices’ Make Climate Case to U.S. Conservatives

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
The Energy Mix - Energy Central
No Result
View All Result
  • Canada
  • Fossil Fuels
  • Ending Emissions
  • Cities & Communities
  • Electric Mobility
  • Heat & Power
  • Community Climate Finance

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}