Execs: Deepwater oil is an important part of global energy mix

06/22/2010 | Reuters

Deepwater oil plays a key role in meeting expected energy demand, oil and gas executives said, adding that a sustained U.S. drilling ban in response to the Gulf of Mexico spill could threaten supply security and raise costs. Lawmakers should look at the spill as an isolated and avoidable incident, said Chevron executive Jay Pryor: "They should keep in mind that overall the industry has a good safety record and a good record for environmental protection."

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