In this video, Motley Fool Energy Analyst Joel South discusses some of the biggest stories in energy today. He talks about the continued boom in U.S. oil production, and how that has oil prices down a bit today. He talks about the decision that has finally been reached in the litigation against BP (NYSE:BP) after the Gulf of Mexico oil spill. And he talks about some major predictions in the offshore sector, as subsea exploration is due to rise dramatically, something many companies are very interested in capitalizing on.

Joel South owns shares of Schlumberger. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Transocean and Seadrill. Motley Fool newsletter services recommend Seadrill. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.