A little late to the party. As of October 2009, there was an alliance of Southeast States to preserve and protect the natural harmony of the coastal communities.

I can't wait for the Petroleum Industry to take on the Challenger Deep.

Ultra Deepwater Drillship, designed for exploration and development drilling in excess of 40,000 ft RKB, operating in water depth up to 12,000 ft. (2010)

http://www.prideinternational.com/fw/main/Deep-Ocean-Ascension-3C72.html

Atlantic Alliance: The Next Generation Tension Leg Platform

http://www.onepetro.org/mslib/servlet/onepetropreview?id=OTC-8264-MS&soc=OTC

This citation above is an old document, but, it paints a picture.

Below is a link to global oil fields.  They have PSI ratings.  That is not a good thing.

List of Fixed Platform Projects used in Subsea Oil and Natural Gas Fields

http://www.subsea.org/projects/allbytopside.asp?qTop=Fixed+Platform

And it wasn't about oil !

It might have that appearance to some extent, but, the offshore bonanza is no longer a viable option for any economy.  The deepwater environment is too extreme to protect the coastal economies. 

I don't see the USA Navy and Coast Guard as an arm of the Petroleum Industry.

Gov. Sonny Perdue-GA: “Georgia’s coast is renowned for its extraordinary natural and cultural resources, deepwater ports and military assets. The South Atlantic Alliance provides a unique opportunity to collaborate with our neighboring states on mutual priority issues that are vital to sustaining our rich coastal heritage while growing a vibrant economy.” 

Governors of four Southeastern states announced today an agreement (click title to entry - thank you) to work together to better manage and protect ocean and coastal resources, ensure regional economic sustainability and respond to disasters such as hurricanes.

The agreement establishes an alliance among North Carolina, South Carolina, Florida and Georgia. The South Atlantic Alliance will leverage resources from each state to protect and maintain healthy coastal ecosystems, keep waterfronts working, enhance clean ocean and coastal waters and help make communities more resilient after they’ve been struck by natural disasters....