offshore oil drilling
As the energy industry's most powerful executives meet in Houston at CERAWeek 2012, the annual energy executive conference, a new new report shows that oil and gas executives believe their industry is poised for continued growth in 2012.
Last year, the nation watched and waited for months during many failed attempts to cap the massive oil spill in the Gulf of Mexico. Now, with the well capped and killed, the industry has responded with new response plans and equipment designed to keep future oil spills from getting out of control. Anchor Thalia Assuras looks at one of these new sub-sea containment systems, the Helix Rapid Response.
As oil prices continue to rise at a quick pace all eyes are looking to political unrest in the Middle East and North Africa. In particular the focus is on Libya where violence and revolt has led to a country wide slowing of oil production and in some cases a complete halt of operations at several state owned oil fields. Subsequently, oil prices have surged to US$100 a barrel.
Wikileaks has been credited with spilling the beans on stories ranging from torture to tax evasion but this week they might have lifted the veil on the biggest issue yet: peak oil.