[crusty old prospector]

We are consuming it faster than the rate it is being formed within the Earth so eventually, it will become pretty scarce. As infinitesimal as the flow from the BP well seems, it represents about 0.01% of our daily usage of crude oil. The field that it is tapped into (let's say roughly 125 million barrels) represent about 24 days of supply for the entire United States. I grow weary of pundits saying the reason that BP and others are drilling in 5,000’ feet of water is due to environmental regulations. That is totally false. The reason that they are in the deep water is because the shelf has been heavily exploited for over 50 years and all of the large fields have been discovered. A company the size of BP, ExxonMobil, etc. has to find very large fields to feed the bureaucracies that they have become.

[Nat Turner]

A companygovernment the size of BParak;s, ExxonMobil,states and cities etc. has to find very large fieldscompanies to feed the bureaucracies that they have become.

Ok it is fixed now

[ilovesarah2012]

There was that huge field off Brazil found a year or so ago. The ocean is huge. I would be there is a lot of oil out there.