On Bauer Business Focus – A conversation on what’s likely to follow the BP disaster in the Gulf of Mexico with Ed Mayberry, business reporter for KUHF 88.7 FM.
Tyler Priest, director of Global Studies at the UH Bauer College of Business, visited Bauer Business Focus recently to give his insight on the Deepwater Horizon spill in the Gulf of Mexico and what the future might hold for offshore oil and gas.
BP’s Macondo well has finally been plugged, but the investigations of the explosion and leak are far from over. Among the investigators is the National Oil Spill Commission, which appointed Priest, a historian who has extensively studied offshore oil exploration, as a senior policy analyst to consider the lessons that can be learned from the event where many questions remain.
“One question is everyone is trying to sort out now is — to what degree is this a problem with BP and this vessel and this well, and to what degree is this an industry problem? I don’t think anyone has good answers to that.”
Another major question — when will drilling resume in the deep waters of the Gulf? With the moratorium set to end Nov. 30, the industry will be expected to follow a new system of regulations and equipment specifications, Priest says.
Since the disaster, Priest has observed a divide among many people.
“There are those inclined to support oil and gas exploration that see it as incredibly innovative and incredible capital intensive, and this makes you appreciate what they do. Others say it’s too risky and too expensive, and we have to speed up our transition to alternative forms of energy. It would be nice if we could move quickly but that is going to be a long transition.”
Click here for the full interview.