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President Obama is expected to deliver a speech on oil and energy issues on April 20, the anniversary of the 2010 Gulf Oil Spill. ASPO-USA is co-sponsoring a petition urging President Obama to use this opportunity to talk frankly about the peak oil energy challenge-acknowledging the increasing costs and risks of our oil dependence, and the prospect of a peak and decline in world oil production in the face of rising global demand.
Many factors apparently contributed to the explosion aboard the Deepwater Horizon oil platform that led to the 5-million barrel, months-long crude oil blowout. However, the incident served to highlight that oil producers increasingly need to drill in less-accessible, higher-cost areas as production from U.S. onshore areas and other less-challenging sources continues to decline.