The UK can Protect itself from High Oil Prices by Investing in Renewables

Oil Price Daily News Update


The UK can Protect itself from High Oil Prices by Investing in Renewables

Posted: 18 May 2012 04:06 PM PDT

National energy sectors and are still heavily dependent on the global oil market, and the global oil market is so finely balanced that any disruption ripples out to affect most of the world. This means that domestic energy prices can be heavily influenced by incidents half a world away.The best way to avoid these price spikes is to obtain a certain level of, or complete, energy independence, or use energy sources that don’t rely upon the global oil market.An analysis by Oxford Economics, commissioned by the UK government, and presented by…

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The Ocean Prospector will Return to Operation after 14 years on the Dock

Posted: 18 May 2012 04:04 PM PDT

Back in 1971 ODECO designed and built The Ocean Prospector, the first ever semisubmersible drilling rig that was self-propelled, a standard feature with today’s rigs. It operated in warm waters around the world for ODECO and later Diamond Offshore, after their merger in 1992.In 1998 the rig was towed into Galveston harbour in Texas for inspections and maintenance work when the decision was made to decommission it. It never left Galveston for the next 14 years, and although its ownership has changed several times it still remains there to…

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