Offshore Crisis, the 2020.... version

we are talking about billions and billions of tons of these over millions of square miles. This is the Clarion Clipperton Zone which is just one of these fields but happens to be the one closest to North America. There are dozens more of these fields around the planet.

As the world struggles to end the use of fossil fuels, the need for batteries which are small, light and have high amp/hr capacity is the critical part of the equation and these nodules are filled with the minerals needed to manufacture them which quote frankly cannot be mined from land based deposits in the quantities needed.


Transocean is Swiss not American

I don’t see where anyone said they weren’t; however they are only Swiss in that they are registered there and have an empty office and a tax attorney. The other six thousand or so employees are based out of their operational headquarters in Houston. As c.captain indicated, it would be in their, and their majority US based employees interests to see idle rigs repurposed.

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it was referring to the USA not ratifying UNCLOS, swiss company with FOC vessels, nothing to do with US law…saying that its listed there.

It’s laughable when you see people wanting governments to bail out struggling oil and gas companies who have spent decades siphoning off their profits through tax haves like Panama and Switzerland etc.

Why should governments bail out companies who in the past have gone to a great extent not to pay any tax to any non tax haven government, it just doesn’t make sense.


Talk about a thread completely derailing!

What an ugly mess!

The money that politicians fill their pockets with has to come from somewhere. They’re not going to kill the golden goose.


You are right that Transocean*s corporate HQ in Zug, Switzerland is just a shell, while the operational HQ is still in Houston. The majority of the corporate and administrative staff in Houston is probably Americans, but there are a lot of operational personnel that is Green Card holders.

The rig crews in the GoM are of course mostly Americans (by Law) but you don’t find a lot of Americans on the rigs operating in other parts of the world these days.

The regional Transocean offices around the world has the daily operational responsibilities for the rigs in their region and are mostly manned locally and by an international band of Expats.

BTW; Transocean’s plan for avoiding bankruptcy may backfire:

so does Transocean pay tax in the USA?
Probably not after the license fee paid to the Swiss office or somewhere else, take a page from Apple and Googles play book

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It is a curious fact about the marine industry generally. The more you own the less you as the owner pay in tax.

The long term predictions for the UK oil patch are not good according to Rystad.

Allseas are doing that in partnership with a company called DeepGreen, they have some interesting videos on the vimeo page, seabed mining is a topic I knew almost nothing about so it is quite informative to hear about it:

I knew about the seafloor nodules for quite some time but did not realize until quite recently that there is tremendous work being done at the moment in preparation for the time the balloon goes up and this whole show gets going. It all has to do with the minerals like cobalt these nodules contain and how desperately the global battery industry is trying to find a source which will be able to supply what is soon to be an insatiable demand. Deep Green is right across the border from me they seem to be well positioned. One must wonder where their backing comes from?

are you sure that its not just cover to pick up another sub?

Neither side saw this coming along with Lives Mattering, Defunding the Police and a bunch of other social justice issues. The right and left are just hoping that people don’t realize this cause of all this is the right and left working togwether to keep all others out. They also hope the unwashed masses (us) do not decide to “correct” or “dispose” of them.

Politics is a multi-billion dollar a year industry and our “leaders” don’t want to lose their jobs either…

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That’s not true. With the European travel restrictions, we have more Americans than ever. At least here, that’s the case.

I assume that you are talking about in Canada?

Actually I thought there were travel restrictions on Americans as much as, if not more than on Europeans in most countries.(incl. in Canada (??)

I find this statement very offensive. I resent being compared to a banker


We are in the Caribbean. But Canada is allowing Americans who are essential workers, including O&G.

Many of the Caribbean islands are accepting US citizens, with restrictions, as are the Bahamas. I guess if your economy is dependent on tourism you roll the dice. Not many first world countries accept US citizens now without some serious restrictions. Can’t say that I blame them. The USA has been near the top in cases for awhile but it looks like the EU may be trying to catch up.