The most promising initiatives near term, he thinks, include solar thermal, high-altitude wind power and deep drilling to tap geothermal power.
However, they will no longer have the incentive to invest further in exploration and deep drilling, particularly in the technically more complex fields in the Amazon.
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It was a partner in this Shallow Water Ultra Deep drilling program in the Gulf of Mexico until its CEO, Jim Flores, was scared to death by the BP Macondo disaster and its financial impact on BP.
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The drill ships and production platforms required to undertake such deep drilling are massive floating structures, much larger than the largest aircraft carriers and costing well over a half billion dollars (and close to a million dollars a day to rent).
Moreover, the resumption in deep water drilling has the immediate effect of increasing consumption.
Already President Obama has initiated a ban on approving new deep water drilling contracts.
The company controls 48 deep water drilling rigs and currently has about a 7.5% dividend yield.
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The lack of standards for deep water drilling risk management will spawn a litter of over-reaching regulation.
He suggests buying energy service companies, particularly those involved in deep offshore drilling.
We will participate in industry-wide efforts to improve the safety and reliability of subsea blow-out preventers and deep water drilling practices.
It will require renewed deep sea drilling and exploration though.
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Few have the background in oil and gas engineering to help Petrobras expand its operations in deep sea drilling off the Atlantic.
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The first minister rejected calls from the Scottish Green party leader, Patrick Harvie, to support a ban on deep sea drilling of Scottish waters.
Achenbach argues that a series of minor failures and misunderstood interdependencies, combined with the extreme conditions of deep water drilling caused the BP Oil Spill.
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Over the last three years, we have built in U.S. shipyards or acquired new U.S. built and flagged vessels primarily designed to service the deep water drilling market.
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It should stimulate a boom in construction of gas-fired plants, given the huge new supplies of shale gas unlocked by the combination of deep horizontal drilling and hydraulic fracturing, or fracking.
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Obama issues moratorium in gulf deep water drilling.
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The news, however, suggests that Britain's Energy and Climate Change Committee will question Hayward about BP's ability to respond to an oil spill or other incident in the North Sea, as part of a government inquiry into the safety of deep water drilling in Britain.
Is the -- how close are we to resuming deep-sea drilling back in the Gulf?
Some of them say the water was spoiled by drilling deep underground for natural gas.
But harnessing this power, by drilling deep holes into volcanoes, turns out to be dangerous business.
There are reports out there that the administration is talking to BP about resuming deep-sea drilling.
But oil producers were happy to build (or buy) deep-water drilling platforms when those fields seemed economical.
Petrobras (PBR) is losing money and says it will invest less in its deep water oil drilling.
Many oppose the moratorium imposed on offshore deep-water drilling by the Obama administration in the wake of the spill.
But he added that the spill should not stop deep water oil drilling.
And hasn't he been at the forefront of lobbying for more deep-sea drilling?
After the BP oil spill, the administration put a moratorium on an already anemic record of approving deep-water drilling permits.
The blame is being laid squarely on the shoulders of BP, under whose auspices the deep-sea drilling operation is being conducted.
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