Oil and Gas Development: Mysteries and Misconceptions
Bureau of Ocean Energy Management (BOEM) regulates and manages all aspects of traditional and renewable energy production in the marine environment. As we know, creating energy from natural resources is no easy feat, giving BOEM enormous responsibility throughout the planning, exploration, development, and production phases. Main concerns include safety, feasibility (profitability), and environmental stewardship, which are important factors that determine the outcome of where, when, and how energy is developed around the country, starting with the lease sale.
the report, I still had questions about how this information is used. Do areas deemed as being more sensitive cost more to lease? Do stricter monitoring and research requirements make it less desirable? While economics and profitability largely motivate this industry, how might the valuation of these areas change if the public was more aware of this scaled sensitivity scoring?
This only scratches the surface of this topic – what do you know about oil and gas exploration?