new horizons

BP yesterday announced a joint venture with Rosneff to carry out exploration and development of oilfields in the Arctic Ocean and vast area’s of Siberia, Greenpeace have stated that they have not learned the lessons from the Gulf of Mexico, perhaps not the lessons that Greenpeace would like to see followed, but they have learned a number of business lessons.

First, is that in the USA risk to reward ratio is out of balance, financial disaster was staring them in the face and politicians were piling in to them. Lawyers standing in line to sue, is that the best environment to carry out a major reconstruction of the company and place it back on a sound footing? No, time to move on. Yes it’s a risky business, when you are working at the extremes of the environment and technological expertise there will always be dangers. But if nobody took any risks we would still be living in caves being eaten by leopards, perhaps that is how some people want things to be. If you were the head of a major international company and you wanted to build a new car assembly plant or an oil refinery would you build it in the USA, something goes wrong you are abused by every second-rate politician in the country, better to invest in China, Russia, India, Angola, Brazil, these countries are prepared to accept a certain degree of risk and danger is inherent in any new venture.

Look at the trans Alaska oil pipeline, it is in a state of decline from a high of 2m barrels a day down to 300,000. no fresh exploration is likely in the forseeable future, which American oil major will take the risk, not without government guarantees of immunity from prosecution and government insurance to cover any liabilities, another part of America in decline.

Russia also has some thing else to offer, very large nuclear submarines, with some modification, new superstructures ect they would make excellent drilling platforms  anchored on the sea bed. Not having to drill from a mile away from a semi-submersible would be a great advantage, and being able to drill under the polar  ice cap, who would know what they are doing?

About michaeldouglasbosc

I am retired and live with my wife on a small olive finca in the middle of a forest in the mountains of Spain in Catalonya. I served 9years in the armed services, am an engineer and because of my love of navy sailing ships a naval historian of the 1700-1800's, plus the author of 10 books. When I retired I started writing adult books my first being A Soldiers Wind. Then came Stanley's story again adult books such was his life. Another book on life in the 1950's this very much an adult book. I have now returned to my love of the sea and my latest navy book 'A Plymouth Story' follows the life of Dr James Blackstock. But Clearing In The Forest is an historical fantasy set in the middle ages at the end of King Johns reign. All the books are published on Kindle and Create a Space in paperback. I have worked all my life and for relaxation I sailed a coastal yacht for many years, but deep inside me was a writer waiting to get out. So when I retired I started writing I find story telling both relaxing and - for me - a pleasure.
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3 Responses to new horizons

  1. Pingback: Tweets that mention new horizons | Social Freedom. --

  2. frostwire says:

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