After the BP disaster in the Gulf of Mexico, the White House put a moratorium on drilling in the area until it could address the problem more fully. Since that time, growth has slowly accelerated and has now surpassed those early 2010 levels. This area could certainly take the lead from the other members of the "Golden Triangle" triumvirate -- Brazil and West Africa.
Is this the next catalyst?
With recent news that the Department of the Interior will auction off some 38 million acres of federal waters, even higher expectations could be reached than what had already been envisioned. Major oil companies including Chevron (NYSE:CVX), ExxonMobil, and Royal Dutch Shell are planning to spend big money here. But without the guarantee of returns on these investments, where can investors turn their attention to gain from these capital expenditures? Tune in to the following video, as Motley Fool analysts Taylor Muckerman and Joel South share their insight.
Joel South has no position in any stocks mentioned. Taylor Muckerman owns shares of Ensco. The Motley Fool recommends Chevron and Seadrill and owns shares of Seadrill and Transocean. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.