The Trump Administration will begin allowing new shallow-water Gulf of Mexico oil and gas rigs to operate at reduced royalty or royalty-free rates to incentivize new activity.
BP decides to evacuate personnel deemed non essential to oil and gas production from the world's largest platform and three others in the central Gulf of Mexico. This is done in response to a potential tropical storm passing over or near the area in the next couple of days.
While the Deepwater Horizon disaster of 2010 may have tempered enthusiasm for offshore drilling, the current rise in gas prices has turned the public back in that direction.
Did that headline just make you choke a little bit too? It seems there is a certain President of a certain country that still doesn't understand America's energy situation? Or maybe it's me that doesn't get it, so I will yield to someone who actually has been in the energy business.