After several weeks of intense study into the Deepwater Horizon accident, two industry task forces released their recommendations today.

These task forces, which have focused on subsea well design and oil spill response, are two of the four task forces formed by the oil and natural gas industry to examine deepwater drilling, identify any gaps that might exist affecting safety, seek solutions, and improve industry operations. The two other task forces delivered their reports to the government in May.

Today the Subsea task force announced 29 recommendations, including 15 immediate action items, that could be helpful in controlling the release of oil from its source. Many of the action items involved equipment changes and a new Containment Company (CC) formed to build and deploy a rapid respo... more »

Four major oil companies are joining forces to build and deploy a rapid-response containment system that will be available to capture and collect oil from future blowouts in the Gulf.

The new system will be suitable for use in depths of up to 10,000 feet--twice as deep as the Macondo well--and will have the capacity to contain 100,000 barrels of oil per day with expansion potential.

The four companies, which include Chevron, ConocoPhillips, ExxonMobil and Shell, have committed $1 billion to pay for the initial cost of the new system. They also will assemble a dedicated staff to maintain readiness under a new non-profit organization called the Marine Well Containment Company. Other companies will be invited to participate.

"[R]egardless of how unlikely it is that this situation will reoccu... more »

Editorial and op-ed writers are using the power of the pen to explain their displeasure over the oil spill and response.

While most demand a faster and better spill response, a few acknowledge that quick legislative fixes and knee-jerk administrative actions won't lay a proper foundation to a secure energy future. Here's a sampling:

The New Orleans Times-Picayune asserts the administration's drilling moratorium was based on politics, not science, and it asks the president to reconsider it:

"The administration is still defending its moratorium, saying the measure simply hits the 'pause' button on drilling to evaluate safety measures. But the moratorium soon will turn into a 'kill' button for thousands of Louisiana jobs, as rigs poised to relocate overseas could take up to two years to retu... more »

Anti-oil activists have found an outlet for their frustration over the Gulf oil spill. In several states this week, they are protesting, holding vigils, and calling for boycotts against BP.

The demonstrations are likely to be similar to the protest held in Washington last Friday where Public Citizen and seven other activist groups waved signs, chanted and held a mock citizen's arrest of BP CEO Tony Hayward.

But there is one notable exception: Most of the protests being held in cities throughout the United States are planned for individual service stations or convenience stores bearing the BP logo. However, because the company doesn't own or operate the vast majority of the BP-branded U.S. retail outlets, the impact on the company is doubtful.

"Boycotts--all they hurt is the small-business... more »

In today's episode, I interview Burt Adams, chairman of the National Ocean Industries Association (NOIA), about the potential economic effects of the president's six-month deepwater drilling moratorium on coastal communities.

Use the audio player below to listen to information about the article and follow along with the show notes. I hope you find the podcast informative.

00:17 We've all been watching the aftermath of the Deepwater Horizon in the Gulf for the last several days--the clean-up as well as the president's order to halt deepwater exploration wells and to delay drilling in the Gulf in areas where the water is more than 500 feet deep. But now questions are arising about the economic impact of the drilling delays and the cost to the energy workers and their families who li... more »