Steve
Well-known member
many would argue we don't...
why even bother drilling for nine billion barrels when it will take ten years to extract and won't make a huge dent.. is always the answer..
Canada is scrapping oil off sand to sell to US.. and we constantly have to ignore huge oil discoveries in our own front yard.. WHY?
would 700 million barrels of oil help our economy?
at 87 bucks a barrel it wouldn't hurt..
But here's the catch: There is a chance that the MMS has miscalculated the amount of offshore oil, because its estimates are based on 30- to 40-year-old data. For example, MMS spokesperson Nicholas Pardi says a 1987 survey of the Gulf of Mexico indicated there was potentially nine billion barrels of oil there, but when the area was resurveyed nine years later (using newer technologies), the number jumped to potential 45 billion barrels.
why even bother drilling for nine billion barrels when it will take ten years to extract and won't make a huge dent.. is always the answer..
NEW YORK (AP) — ExxonMobil Corp. disclosed details Wednesday of an oil and gas field that could prove to be one of the largest discoveries in the Gulf of Mexico in recent years.
The oil giant said three discoveries at its exploration project 250 miles southwest of New Orleans have the combined potential for more than 700 million barrels of recoverable oil and gas equivalent.
Canada is scrapping oil off sand to sell to US.. and we constantly have to ignore huge oil discoveries in our own front yard.. WHY?
would 700 million barrels of oil help our economy?
at 87 bucks a barrel it wouldn't hurt..