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il & Gas. Two little three-letter words have never had such big meaning. Flip through this edition of MTR and you will find a collection of articles -- large and small -- that revolve around the discovery and recovery of oil & gas. Flip through the subsea technology industry and you will find a collection of companies -- domestic and international -- that are investing heavily in the continued domination of oil & gas as a business driving force for years to come. It is nearly inconceivable that this oil & gas boom will relent anytime soon. Early next month thousands of companies will convene in Houston at the Offshore Technology Conference (OTC), ready to welcome more than 70,000 visitors who are eager to buy and use technologies designed to find and deliver oil & gas more efficiently and cost effectively. Prices are entrenched at more than $100/barrel and there is an increasing drive to explore vast new tracts of undersea earth surface in increasingly deep waters. Technologies emerging from the shops of many MTR readers has been the impetus to make this a reality. In addition to well-known fields offshore the Gulf of Mexico, the North Sea, and West Africa, it appears a new push is underway to explore the waters off the coast of Alaska, as Steve Withrow reports in his new column "Ocean Observations," starting on page 20. Steve is well-known to many of you already, and his regular presence in our editorial pages is a big plus for us and for you, as he will deliver unique insights and analysis on a regular basis. The offshore oil & gas market is undeniably hot, it is advisable to keep some semblance of balance to your business portfolio for the long run. I spoke recently with Dr. Tony Trapp, managing director of the Engineering Business. The company was recently bought by IHC Merwede, and on the surface it's hard to find fault with a company that was started only 10 years ago but boasts a $120m orderbook today. But in our conversation, Dr. Trapp recalls how EB, in its infancy, was swept up in the fast-rising momentum of the submarine telecom business, only to watch this business dissolve with the dot.com bubble burst, nearly taking EB down with it. Enjoy the oil & gas ride, but plan now for the inevitable swoop down.
Gregory R. Trauthwein · trauthwein@marinelink.com · tel: 212-477-6700
Marine Technology Reporter is published monthly except for February, August, and December by New Wave Media, 118 E. 25th St., New York, NY 10010-2915. Periodicals Postage at New York, NY and additional mailing offices. POSTMASTER: Send address changes to MARINE TECHNOLOGY REPORTER, 118 E. 25th St., New York, NY 10010-2915. Postmaster send notification (Form 3579) regarding undeliverable magazines to Marine Technology Reporter, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. ©2007 New Wave Media.
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Vol. 51 ISSN 1559-7415 USPS# 023-276
No. 3
Member
1 1 8 E a s t 2 5 t h S t re e t , N e w Yo r k , N Y 1 0 0 1 0 tel: (212) 477-6700; fax: (212) 254-6271
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6 MTR
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