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.
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 Bureau of Ocean Energy Management and Regulation and Enforcement, or BOEM, recommends more stringent regulations, and President Obama on Sept. 13 asked for an additional $100 million to increase BOEM’s muscle.