Not only will Transocean try to keep cash levels high to deal with any other Macondo-related liabilities, it will also be shouldering the cost of an expensive rig construction program.

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When an offshore oil rig is outdated, or can no longer cost-effectively pump oil, most countries require that the oil rigs be wholly decommissioned.

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Whether or not the administration puts a temporary stop to deep-water drilling, we can only imagine what effect the added cost of higher premiums for drilling rig insurance and more sophisticated safety equipment is going to be in the months and years ahead.

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Last year, the rental cost of a jack-up drilling rig went up 66%.

BBC: Buzzard platform in the North Sea

The explosion of the Deepwater Horizon oil rig, owned by Transocean and operated by BP, cost the lives of 11 men and caused the leaking of about 4.9 million barrels of oil into the waters of the Gulf.

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