Deepwater drilling

[3][full citation needed] Deepwater drilling has not been technologically or economically feasible for many years, but with rising oil prices,[when?]

The deepwater gas and oil market has been back on the rise since the 2010 Deepwater Horizon disaster, with total expenditures of around US$35 billion per year in the market and total global capital expenditures of US$167 billion in the past four years.

[5] Industry analysis by business intelligence company Visiongain estimated in 2011 that total expenditures in global deepwater infrastructure would reach US$145 billion.

[6] A HowStuffWorks article explains how and why deepwater drilling is practiced: Not all oil is accessible on land or in shallow water.

Despite the risks, the deepwater drilling trend is spreading in the Mediterranean and off the coast of East Africa after a string of huge discoveries of natural gas.

A Center study estimates that over 82,000 birds, about 6,000 sea turtles, and nearly 26,000 marine mammals were killed from either the initial explosion or the oil spill.