Posted on 04/09/2015 1:00:50 PM PDT by BBell
Statoil has hit oil at a well in the Gulf of Mexico about 220 miles south of New Orleans. The Norwegian company has not yet determined the size of the find.
Statoil's discovery, known as Miocene Yeti, targets oil in the well-explored Walker Ridge area of the Gulf of Mexico.
Statoil operates the Yeti prospect and owns a 50 percent interest. Partners Anadarko Petroleum Corp. and Samson Offshore own 37.5 percent and 12.5 percent interests, respectively.
In a statement, Jez Averty, Statoil senior vice president for exploration in North America, said the company is now "analyzing data to determine the size of the discovery in order to consider future appraisal options."
(Excerpt) Read more at nola.com ...
Norway's Statoil said it discovered oil at its Miocene Yeti prospect in the Gulf of Mexico, about 220 miles south of New Orleans Thursday, April 9, 2015. The prospect is located near several large Gulf discoveries, including Chevron's Big Foot oilfield. (Statoil)
OIL is a renewable resource. More proof every day.
‘NEW’ oil?
It must be millions of years old by now....................
“OIL is a renewable resource. More proof every day.”
This discovery is not proof that oil is renewable.
Peak oil is taking it in the butt today.
Huge oil find discovered near Gatwick airport
http://www.freerepublic.com/focus/f-news/3277489/posts
Thank you for the link.
Oil is renewable but not on the time scale of humans. In effect it is a finite resource. However, it should be exploited to the maximum. Today it is the cheapest source of energey. Nuclear should be cheaper except for what the enviromental luddites have done to limit its use.
We should use the oil and gas and let economics drive what is our next economic source of energy.
Nuclear is good and proven.
Solar is very marginal but has an application in some areas where there is limited access to nuclear or petroleum and have a hell of a lot of sun on a consistent basis.
Fusion may be the future but is still unproven.
Relative to wind power the best that can be said is the reason the wind blows is wind power sucks. However, when they burst into flames and self destruct it is very entertaining. See attached link for one just self destructing without burning.
https://www.youtube.com/watch?v=sbCs7ZQDKoM
Actually there is some thought that oil does get renewed by the ethane and heat of the earth’s inner core.
Titusville PA where the first oil rig was drilled has full wells again. An amount that cannot be explained by back flow.
Actually there is some thought that oil does get renewed by the ethane and heat of the earth’s inner core.
Titusville PA where the first oil rig was drilled has full wells again. An amount that cannot be explained by back flow.
Oil is incredibly useful and it takes a LOT of energy to make it artificially. I believe that 100 years from now people (if any) will wonder how we could have been so stupid to have burned it long after nuclear plants existed.
I do think there is a future for hydrogen as a fuel for transport. It is actually the most efficient but to make it practical it source would have to be electrolysis by power derived from nuclear powered generators.
We do not have a lack of energy resources, We have a lack of vision because of environmental GAIA Luddite Nazis.
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