Legislation to tighten safety requirements for offshore oil and gas drilling has advanced in the House but faces an uncertain future in the Senate. The House on July 30 passed the Consolidated Land, Energy and Aquatic Resource Act, which would set tough safety standards for offshore drilling and require oil companies to cover 100% of cleanup costs and damages from spills they create. The “CLEAR” Act, approved 209 to 193, also would revamp the Interior Dept.’s former Minerals Management Service by removing conflicts-of-interest among its leasing, inspection and revenue-collection duties. Interior recently reorganized MMS and renamed it the Bureau of
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.