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4MTRMay 2012www.seadiscovery.com NEW YORK118 E. 25th St., New York, NY 10010 Tel: (212) 477-6700; Fax: (212) 254-6271 FLORIDA215 NW 3rd St., Boynton Beach, FL 33435Tel: (561) 732-4368; Fax: (561) 732-6984 PUBLISHERJohn C. O'Malleyjomalley@ marinelink.comAssociate Publisher & EditorGregory R. Trauthwein trauthwein@ marinelink.comContributing EditorsCapt. Edward Lundquist, USN (Ret.)  Clare McIntyre Rhonda Moniz  Claudio Paschoa  Andrew SaferProduction ManagerIrina Tabakina tabakina@ marinelink.comProduction InternNicole Ventimiglia nicole@ marinelink.comSales Administration & Office Manager Rhoda Morganmorgan@ marinelink.comSales & Event Coordinator Michelle Howard mhoward@ marinelink.comManager, Accounting Services Rhoda Morgan morgan@ marinelink.comManager, Public Relations Mark O?Malleymomalley@ marinelink.comManager, Marketing Jocelyn Redfernjredfern@ marinelink.comManager, Information Technology Services Vladimir Bibikbibik@ marinelink.comCIRCULATION Kathleen Hickeymtrcirc@ marinelink.comADVERTISING Vice President, Sales and MarketingRob Howardhoward@ marinelink.comTel: (561) 732-4368  Fax: (561) 732-6984 Advertising Sales ManagerLucia M. Annunziataannunziata@ marinelink.comTel: (212) 477-6700  Fax: (212) 254-6271 Mike Kozlowskikozlowski@ marinelink.comTel: (561) 733-2477  Fax: (561) 732-9670 JapanKatsuhiro Ishii  amskatsu@ dream.comTel: +81 3 5691 3335  Fax: + 81 3 5691 3336 Ijust returned from the Offshore Technology Conference in Houston and it never ceases to amaze me the power that Oil & Gas have to unite disparate groups of individuals. With the price of a barrel of oil hovering above $100, vast tracts of new gas field finds opening up onshore and off, and renewed vigor to discover and recover resources above the Arctic Circle, there is a palpable good vibe among the offshore O&G commu- nity which is having spillover effects on closely interconnected subsea and maritime markets. Now more than ever the subsea industry is in the limelight, with the confluence of James Cameron?s dramatic dive to the Marianas Trench; the 100th year anniversary of the sinking of the Titanic (and the resultant dispute regarding the recov- ery and selling of artifacts); and the sudden resurgence of the offshore O&G markets, two years on from the Macondo spill in the Gulf of Mexico. With the limelight comes scrutiny, and last month, on the second anniversary of the Deepwater Horizon blowout, a national panel of researchers issued a report urging govern- ments to reassess oil spill response (see story page 8). Perhaps the worst kept secret in the world is the fact that the Europeans are light years ahead of the rest of the planet in the development, testing and implementation of offshore renewable energy, particularly Offshore Wind Farms. The U.S., in particular, has a long and well-documented love affair with fossil fuels, consuming nearly 20% of the world?s daily take with less than five percent of its population. But the U.S. is poised to catch up. According to our article ?Marine Renewable Energy: Set to Take Off in 2012,? (page 24) atrio of attorneys from Blank Rome argue that the political will and technical know-how are well aligned, as the Department of Energy?s National Renewable Energy Laboratory esti- mates there are more than 4,000 gigawatts of potential offshore wind resources in the U.S.: or four times the existing sources of electricity! But as most of the readers of MTRknow all too well, sound business reason, political backing and solid science still sometimes fall well short in bringing concept to reality. While there is certainly momentum growing for the development of offshore wind, It appears now an abundance of cheap gas will help to put a damper on realizing the full benefits. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means mechanical, photocopying, recording or otherwise without the prior written permission of the pub- lishers.Marine Technology Reporter ISSN1559-7415is published monthlyexcept for February, August, and December by New Wave Media, 118 E. 25th St., New York, NY 10010- 2915. Periodicals Postage at NewYork, NY and additional mailing offices. POSTMASTER: Send address changes to MARINE TECHNOLOGYREPORTER, 118 E. 25th St., NewYork, NY 10010-2915. Postmaster send notification (Form3579) regarding undeliverable magazines to MarineTechnology Reporter, 118 East 25th Street, New York, NY 10010. Publishers are not responsible for the safekeeping or return of editorial material. ©2012 New Wave Media.118 East 25th Street, New York, NY 10010 tel: (212) 477-6700; fax: (212) 254-6271Vol. 55 No. 4 ISSN 1559-7415USPS# 023-276www.seadiscovery.com MemberGregory R. Trauthwein  trauthwein@ marinelink.com  tel: 212-477-6700 Subscription: To subscribe please visit www.seadiscovery.com/subscribe editorial(Photo Courtesy BMT Group)MTR#4 (1-17):MTR Layouts 5/7/2012 11:54 AM Page 4