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September 05, 2006
But I thought we were running out?
I thought there was no more oil:
Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies announced Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves by as much as 50 percent.
...The Wall Street Journal reported in Tuesday’s editions that the region where the well is located could become the nation’s biggest new domestic source of oil since the discovery of Alaska’s North Slope more than a generation ago.
The Journal said Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico’s lower-tertiary formations hold up to 15 billion barrels of oil and gas reserves, a total that would boost the nation’s current reserves by 50 percent.
Posted by Aaron at September 5, 2006 12:00 AM
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Comments
"I thought there was no more oil".
You obviously were wrong yet again. Where did you get that silly notion? Probably misunderstood something you read or used an unreliable source? Or more likely chose to misquote some liberal source to make a biased point.
"But I thought we were running out?"
We are. Here on the planet Earth anyway. Fossil fuels are not renewable resources. There will always be less oil tomorrow than there is today, which is different than commenting on how much remains of known oil reserves. Tomorrow the KNOWN reserves may be MORE or LESS than known reserves today.
Posted by: KeithS at September 5, 2006 12:46 PM
We need to start drilling in Fonzie's hair.
(Waits to see if humor with improve Keith's mood.)
Posted by: Charles at September 5, 2006 01:16 PM
Meanwhile, despite "global warming" it is about 10-15 degrees colder than usual in Ohio this week.
Is it possible that most of these alarmist leftwing pundits are talking through their hats? Hmmmmm!
Posted by: Gayle Miller at September 5, 2006 01:58 PM
We are running out of oil. New discoveries are fewer and further betwixt.
I said betwixt.
Posted by: paul at September 5, 2006 02:39 PM
"betwixt" paul?
You're going all Elizabethan on us!
I'm taking tomorrow off (2nd anniversary of the death of someone I loved a lot and I don't feel like working in the slightest) but I'll be back yanking on paul's chain on Thursday.
Posted by: Gayle Miller at September 5, 2006 04:49 PM
Why have the global warming nuts stopped talking about hurricanes when it comes to global warming?
Posted by: DoubleU at September 5, 2006 07:18 PM