BP (NYSE:BP), Deepwater Drilling Will Remain in Gulf, and Everywhere

For those of you with any delusions about drilling for oil in the Gulf of Mexico being cut back in response to the BP (NYSE:BP) oil spill, you may as well forget that, as not only will BP remain drilling in the Gulf (unless by order from the government), but they'll continue to grow, as well as other oil companies as well.

The demand and need for oil isn't going away, and the future of oil drilling and production for the foreseeable future is in deep waters around the world.

Just in the last couple of months deal after deal has been announced for new offshore deepwater drilling projects around the world.

The fantasy of so-called "clean energy" is just that. It is so ridiculously far off as far as enough energy produced and being affordable, that if oil were to be cut back on, it would devastate the economies of the world.

Even the alleged benefit of the wind turbines are devastating to birds and bats, which are slaughtered from just one windmill graveyard than the entirety of the Gulf oil spill of BP. You don't hear much about that slaughter in the press.

Again, the costs are also enormous, as well as other clean energy sources, which will evidently be available and affordable to the elites and wealthy in the future, but not the middle class or poor, who couldn't come close to affording it.

Natural gas is extremely abundant, but at this time so inexpensive companies can't produce it at a profit. Most are gravitating themselves toward oil until that changes, which will be a long time.

Contrary to the alleged peak oil myth, there are still tons of areas around the globe that haven't even been explored for oil yet, and it's going to continue to expand and enlarge because of that strong demand.

Brazil has proven there are tens of billions of oil still locked away under the ocean, with some recent discoveries estimated to be at close to 100 billion barrels combined, and they're just getting started.

Deepwater drilling and oil demand will continue for decades and longer, and unless demand changes, nothing can be done to stop it.

Shell (LSE:RDSA): We Must Keep Deep Water Drilling For Oil

Peter Voser, the chief executive of Royal Dutch Shell (LSE:RDSA) said even though there's been a massive oil spill due to BP, lack of resources and ability to contain the crude oil, deep water drilling is still an absolute necessary to be able to meet the growing energy demands the industry is facing. He was sure to add though that the disaster readiness must be properly evaluated and corrected.

"My expectation is that we will go forward with it but it needs some changes. It's clear, now some of the findings are coming out, that the oil response side has got some weaknesses and we as an industry have to come together in order to actually be better prepared in the future," said Voser.

Due to the worst oil spill in history, President Obama put into play a six month moratorium on all deep water drilling. This was put into place in May and was only supposed to last through that month and be effective on any new deep water drilling. As the month of May came to a close, that is when Obama extended the moratorium to six months and made it effective on all drilling rigs in the Gulf.

Voser said, "we have got other safety procedures across the globe. But I think again that for some companies, there will be some learning in this that needs to be adapted. Safety and design features need to be constantly improved. By doing so we can actually prevent these kinds of things from happening much more and I think that's where we need to drive it even further on the global scale."