Posted on 12/29/2011 8:32:21 PM PST by bruinbirdman
Cyprus said on Wednesday an offshore prospect where exploratory drilling is under way contains an estimated 5 to 8 trillion cubic feet (tcf) of natural gas, a first for the island which could make it self-sufficient in the commodity for decades.
Based on the exploratory drill by US-based Noble Energy, the prospect, which lies south of the island, contains a gross mean of 7tcf of gas, Cypriot President Dimitris Christofias said in a statement.
"The discovery of natural gas in the exclusive economic zone of our country opens great potential for Cyprus and its people, which with prudence and in a spirit of collectiveness we will utilize in the service of public interest," Christofias said.
"New favourable economic prospects have opened for the future of the country," he added.
It was an auspicious end to a traumatic year for Cyprus which was hammered by ratings agencies for fiscal slippage, shut out of international capital markets and hit by a large munitions blast that destroyed its largest power station.
Its northern neighbour and old rival Turkey has challenged Cyprus' bid to search for hydrocarbons, saying the island has no jurisdiction. Turkey invaded Cyprus in 1974 after a brief Greek-inspired coup
(Excerpt) Read more at athensnews.gr ...
It would seem kind of obvious that we really don’t know how much gas and oil there is out there as we keep finding more...
Turkey is threatening to go to war over this. As well as Israel’s drilling off their coast.
Another severe set back to global warmists.
It looks like the Gold hypothesis can’t be ignored much longer...
Don't they they know they are evil greedy dirty earth raping parasites for developing carbon based energy.
They need to suffer astronomically high costs of energy, rationing and economic malaise in the name of green technologies such as wind and solar.
Never mind Cyprus...the good ole USA will do that for you.
I hope this reduces Russia’s influence and money making opportunities in Europe.
All Right!!!
How many Chevy Volts do they want to buy?
Cyprus gets it....
More “peak oil! Peak oil! Peak, aw crap” I knows it’s not oil, but it’s energy, and there is a lot o it out there.
Discovery backs theory oil not ‘fossil fuel’ - New evidence supports premise that Earth produces endless supply
http://www.wnd.com/?pageId=45838#ixzz1hzWaHIZU
Abiotic Oil
http://freeenergynews.com/Directory/Theory/SustainableOil/
They will. We should start a pool as to when. The trick is who will protect Cyprus this time?
Do you have a map illustration showing the location. I wonder if this is in the same area as the Israel Nat Gas strike. That also involved Noble.
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