Posted on 09/02/2009 12:19:20 PM PDT by OldDeckHand
LONDON (AP) -- BP PLC said Wednesday that it had made a "giant" oil discovery in the Gulf of Mexico but had not yet determined the size and commercial potential of the find.
The well, in Keathley Canyon block 102 about 250 miles (400 kms) southeast of Houston, is in 4,132 feet (1,259 meters) of water, the company said.
(Excerpt) Read more at finance.yahoo.com ...
Al Gore
This is oil we couldn’t find or get 20 years ago. Technology has changed that. Wonder what we’ll find 20 years from?
And where is Congress forbidding us to drill? Let’s see, it rhymes with ‘Gulf of Bexico’
250 miles SE from Houston. Too bad we can’t drill off our own shores thanks to the sellout president.
Ping!
Mexico is still trying to “find” a “missing” island, which would extend their 200 mile economic zone farther into the Gulf.
We should be doing the same thing ;)
Hey, isn’t Cuba an island?
Just sayin’.
I ask again.....are we going to buy our own oil from BP? Why aren’t we drilling for that oil? Or are our people in Washington just plain stupid?
Yes, oil is being depleted when we big finds are under 4100 feet of water and at a depth of 35,000 feet.
The cost of E&P on this project will be very expensive.
Ping.
Washington is mostly stupid. The rest is evil.
Could you please cite any Gulf of Mexico offshore drilling restrictions that have been been put in place since 1.20.09?
Good. Texas knows what to do with the oil God gave us. We pump it and sell it. That’s why Texas isn’t broke like CA is.
“Wonder what we’ll find 20 years from?”
The few billion barrels in reasonably shallow water in Southern California just as soon as the environmentalists can be reduced to fertalizer!
Oo..Ooo.Oo.oo.OOO..Ooo -(persona Horshack.. Welcome back Cotter era)..
Oil is the fuel of the engine of capitalism and freedom.
Now, do we need to explain further why they oppose the use of oil?
Bush Seeks Offshore Drilling in Former Off-Limits Areas
Six of the sites -- those located off California, in the eastern Gulf of Mexico and along the Atlantic seaboard -- had previously been off limits to development under a quarter-century-old federal moratorium that congressional Democrats allowed to expire last fall amid intense voter anger over high gasoline prices.
Obama Administration Halts Bush Expansion of Offshore Drilling
WASHINGTON — Interior Secretary Ken Salazar has rejected a Bush administration plan to open vast waters off the Pacific and Atlantic coasts to oil and gas drilling, promising "a new way forward" in offshore energy development including new wind projects.
Actually, this one should be good to go. The restrictions are in the eastern Gulf, not the western.
Ding!Ding!Ding! We have a winner!
No - seriously, it isn't about stupid (though it sure looks that way). I have come to the conclusion that the power that be in DC WANT the US to collapse. They WANT the US to fail. They want us to revert to the stone ages. The old Soviet statement that they would not defeat us by military, but from the inside is now proving prophetic.
See, that’s the silly thing about this “peak oil” BS, and even the claim that “oil will run out some day”.
No, it won’t “run out”. It will just become more expensive. As it gets more expensive, it becomes
economically viable to find more of it in harder
to find areas.
When it gets more expensive than an “alternative”,
our economy will switch to that alternative.
No question about it. Unocal was on to something...
It is possible to perceive the passions of the Left as frenzies of masochism. What could be more idiotic and masochistic than to oppose missile defense? This opposition cannot be understood unless one dispenses with its rhetoric and rationales and realizes that these folks at their emotional core do not want their country defended.The lunacy of the "global warming" hoax cannot be comprehended other than that its masochistic advocates do not want their civilization to prosper. The culture-destroying immigration policies that Pat Buchanan warns are causing "The Death of the West" were put in place by those who do not want their culture to survive.
The lethality of liberal envy appeasement is that personally felt guilt is projected onto the various social or tribal collectives to which the liberal belongs and are a part of his self-identity. Self-loathing is transformed into a loathing of one's society or race.
The Deep Hot Biosphere
Thomas Gold
A book that explains petro(rock)leum(oil) is made by the earth and will always be made by the earth, as it spins, it works it's way up from deep down below.
Centrifugal force, who knew?
Read what I posted - it's quite clear.
But our team doesn’t get the win.
Nonsense.
aka, mineral oil?
Written by the same guy who claimed the moon landings wouldn’t work because the lander would disappear in the many feet of dust.
As a person who makes their living in the oil industry, I object to the Obama rejection of offshore drilling in those areas of the Pacific and Atlantic. However, as someone who passed 7th grade Geography, I understand that Gulf of Mexico off Texas is not part of the Atlantic or Pacific oceans.
And as far as Bush lifting the drilling restrictions in the Atlantic and Pacific, it seems to me that it should have been done in 2001, 2002, 2003, 2004, 2005, 2006 when the GOP controlled the White House and Capitol Hill and not in 2008 or 2009 as Bush was leaving and the Dems controlled the Hill.
Nah. This is off the Texas-Louisiana coast. The only part of the Gulf that is off limits is off the "pristine" Florida coastline.
so this means we’ve finally “peaked” in oil? (sarc)
I'm not a geologist - in any way - but, 250 to 300 million years ago, during the Paleozoic and Mesozoic era, we had essentially one big continent - Pangea. The earth was clearly teaming with life back then. I suppose most geologists would argue that this is oil that was formed when that particular piece of real estate wasn't anywhere near 7 miles down.
Perhaps someone with more of a scientific background can answer more completely.
Read the first link - part of the Bush Admin plan that Salazaar halted was also to open up previously blocked sections of the Eastern Gulf. Just because the second article doesn't cover all the details, the fact is, Salzaar halted the entire plan by the Bush Admin, which included parts of the Gulf.
I don't have any idea why you are trying so hard to nitpick here.
It should have been - however, the political impetus to change those restrictions only came about with the oil price spike of 2007-2008. And when prices dropped, Obama and Salazaar jumped on the opportunity to put them back in place.
Again, nonsense.
And to prove it not to be nonsense, you will need to produce oil in significant quantities that does not contain biological markers.
Until that time, me and 99.9999% of the people that bust our butts everyday to E&P oil and gas will continue to extract oil that was made from biological material.
This is in Lower Tertiary, sedimentary rock.
Good News Everyone..... I mean good news for China!
But he is correct that the planet(many planets in fact, much AlGore's dismay) make it deep down where it's hot enough.
Even AlGore knows it, that's what burns my biscuits, that these liberals can tout a lie 'till the cows come home.
Salazar is the guy who pushed through the moratorium on oil-shale. When they made him chief at Interior you knew where Obama was going.
These guys are in OPEC's pockets, every last one of them.
In post 5 a fool in paradise insinuated that we could not drill in the areas of the Gulf of Mexico off of Houston-Galveston due to new restrictions put in place by Obama.
And as far as I can tell, there have been no such restrictions put in place.
Ironically, there is more proven oil in the earth today than there was 40 years ago. Even though we have used most of what they were sure was it back then, we are finding more accessible oil fields with better technology than use can keep up with.
In a sense, there is more oil available for human consumption today than any other time in history despite our increasing usage and appetite for it.
We could dig where the gulf isn’t as deep. Except we can’t.
Doesn’t matter they won’t be able to drill for it.
But your question was regarding restrictions anywhere in the Gulf, which I answered.
I agree there have been no restrictions in the areas that have long been open to exploration in the central and western Gulf.
You might call it unlikely or not even remotely possible but nonsense it isn’t.
...uh, hello, it's called mineral oil(aka petroleum, get it , rock oil?).
Sure , some stuff gets in it, the eeerf's a messy place, but it's made way down deep, deeper than even dino's could stomp around.
What are you talking about?
The Gulf is rather shallow off Texas and Louisiana and there are platforms as far as you can see.
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