Transocean is the world's premier deep water drilling company. It commands roughly 80% market share. As energy demand grows from the emerging nations, the importance of Transocean increases accordingly. That is why the revelations of recent days are so alarming.
The fact is that all the $30 oil has been found. The great untapped reservoirs are off-shore, deep beneath the ocean floor. Transocean is the only company capable of tapping those reservoirs at mega-scale. A diminished Transocean means higher energy prices.
Wednesday, May 12, 2010
Posted by John at 5/12/2010 06:05:00 PM