Gulf of Mexico deepwater drilling and U.S. unconventional oil and natural gas production will play key roles in the future of oil and gas supplies worldwide, said Lamar McKay, head of BP's upstream unit. "U.S. oil production has grown to its highest level in years and looks to grow further into the future," McKay said. "In gas, our resource base here in the U.S. has expanded so significantly that we have seen gas compete and take market share from coal and set up new manufacturing opportunities in the U.S. due to the low energy costs."

Related Summaries