As BP begins to secure the Macondo well in the Gulf of Mexico, the oil and gas industry is preparing to enter a new era of regulation, likely giving birth to an oil-spill-response industry and the eventual re-engineering of rigs, platforms and wells. Photo: Courtesy U.S. Coast Guard Recent reports advocate stricter regulations and better response plans. Reports released this month by a joint task force and BP all point to the need for a fresh look at the way the industry operates in the Gulf of Mexico and responds to oil spills. In addition, a Sept. 8 report from
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.