We all know why Transocean got smacked down - whether deserved or not.

But what about the others? They got hit just as hard, but I don't see it. Sure, they may take a temporary hit, but these rigs are mobile, and with the Gulf offline for future projects, they can simply move elsewhere. If anything, safety should vastly improve, and the shallow water work is well understood already. Not much real risk there - just a lingering perception. I don't see ocean drilling ending any time soon. If anything, it should increase, given the problems of replacing reserves. So, how long before the market notices all this, or am I missing something here?

ebear