The cyclical nature of the oil business has blossomed into full bloom during the latter part of 2000, as a host of political power plays have sent oil prices on a virtual rollercoaster, albeit mostly up, helping to send it soaring as high as $37/barrel at the time of this writing.
Floating production has evolved to a mature technology that opens for development oil and gas reservoirs that would be otherwise impossible or uneconomic to tap. The technology enables production far beyond the depth constraints of fixed platforms, generally considered to be 1,400 ft.
The Maritime Subsidy Board has determined the fair and reasonable price and constructiondifferential subsidy (CDS) rates for the reconstruction of two 89,700-deadweight-ton tankers, the Chestnut Hill and Kittanning, operated by Chestnut Shipping Co.
Seventeen stevedoring and marine terminal companies were honored in New York City for safety efforts over the past two years that helped reduce the frequency of accidents among some 11,000 waterfront workers in the bistate Port of New York and New Jersey.
The Maritime Administration has released the results of the first major Government effort to analyze the impact of the U.S.- flag shipping and American shipbuilding industries on the nation's economy. The findings demonstrate conclusively that