A panel of Norwegian oil and gas experts says the costs of offshore drilling are too high and...

A panel of Norwegian oil and gas experts says the costs of offshore drilling are too high and calls for easing safety rules to save up to 1T kroner ($167.5B) and allow greater volumes of oil and gas to be produced. Without action, there's a "grave danger" that vast resources may remain in the ground forever. Norway's petroleum production fell 4% in 2010 and 5% in 2011.

Comments (8)
  • maudie
    , contributor
    Comments (477) | Send Message
    ...vast resources may remain in the ground forever." I know some SA authors that are cheering.
    16 Aug 2012, 11:54 AM Reply Like
  • Veritas1010
    , contributor
    Comments (2534) | Send Message
    Beware...it is STO's reputation for safety, knowledge and the highest ethics that makes big oil everywhere seek them out as an investment partner. I trust management will weigh wisely and judiciously these findings accordingly.


    Their is caution and over caution, but with oil and gas it is always better to error on the side of personal safety and environmental protection.
    16 Aug 2012, 03:17 PM Reply Like
  • kdjlaw
    , contributor
    Comments (2) | Send Message
    These "oil and gas experts" want to ease the safety rules? Really? They evidently think oil rigs are just hopelessly bound by "safety rules" and can't possibly find any oil.
    Perhaps in Norway these "experts" didn't hear anything about the Transocean Deepwater Horizon. Well, I did. My son was one of the 11 men who were killed in the explosion. Safety rules sure didn't keep BP from finding oil, did it? The oil BP found almost covered the Gulf of Mexico.
    My message to these experts is this: If you think it's such a good idea to ease safety rules, make sure you're on the oil rig when that happens. Or see to it that one of your children is. Trust me; that's even worse.


    Keith Jones, Baton Rouge, LA
    16 Aug 2012, 04:39 PM Reply Like
  • Old Trader
    , contributor
    Comments (5732) | Send Message
    Keith Jones,


    First, let me say that I'm very sorry to hear of your loss....something like that is very tough to deal with (I'm speaking from personal experience).


    But as far as safety regs go, it appears that in the case of BP, there were various "shortcuts" taken, procedures improperly followed, etc. No matter HOW tough the regs are, someone will ALWAYS try to cut corners. Meanwhile, the "diligent" and "honest" firms/workers get hamstrung by those tighter regs.
    16 Aug 2012, 06:03 PM Reply Like
  • kdjlaw
    , contributor
    Comments (2) | Send Message
    Sadly, almost every "shortcut" taken by BP was first approved by the MMA, the agency then responsible for making sure BP followed the rules.


    I certainly understand the motivation of companies that don't want to be restricted by regulations they feel are unnecessary. But ALL safety regulations are necessary. The only reason to remove safety regulations if that they do not make anyone safer.


    I've heard that "hamstrung" argument a hundred times. I still haven't heard anyone give a real example of a safety regulation that hindered production and did not make anyone safer. Those who make decisions that affect the lives of workers on the rig are seldom on the rig themselves. Sadly, many make decisions with greater consideration of their year-end bonus than on the safety to those on the rig; e.g. the Deepwater Horizon.
    17 Aug 2012, 12:30 PM Reply Like
  • seakingomega
    , contributor
    Comments (2) | Send Message
    Any official that votes to reduce the safety regulations and their diligent enforcement should be required to spend a year or so on an offshore rig to observe the consequences of their action.
    16 Aug 2012, 07:04 PM Reply Like
  • Stun57
    , contributor
    Comments (43) | Send Message
    This problem can only be solved one way. The Norwegian's allow the costs to be passed onto the consumer. Long STO
    16 Aug 2012, 08:03 PM Reply Like
  • dhunter3759sa
    , contributor
    Comments (397) | Send Message
    I completely agree with Keith, if an industry, or corp., proves over and over again they can not will not reg themselves then it is absolutely the responsibility of the governing body put in charge by society do take any and all action to protect the population from people who have their priorities why out of whack and criminal. Of course the far right, under their very cynical and self-centered agenda are going to use all kind of labels and cliches to make this kind of governance look "controlling, socialist," etc, etc. But you know what, this is about FREEDOM for the every day citizen not to be subject / pawns to the people in power. This is how capitalism WORKS. There is absolutely nothing wrong with obtained / earned financial power. But when you become destructive with it then it should not go unchecked. Period - Regardless of once paranoid ideology.
    17 Aug 2012, 02:03 AM Reply Like
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