US Gulf of Mexico - 2. Shallow water gulf oil, gas supply: A glass half full or half empty?

The US Gulf of Mexico continues to be a major source of domestic oil and gas, however, there has been speculation that this area is, or soon will be, in decline. The argument is that a sharp decline in shallow water will more than offset any deepwater gains, with significant implications for domestic prices, supplies and energy security. The first part of this three part article reviewed Gulf development and production history in depths greater than 200m. This article, part 2, focuses on areas in water depths less than 200m. The final instalment examines technological developments, economics and public policies.