Deepwater Gulf of Mexico oil

[FHwku]

http://today.reuters.com/news/articl...c=66&type=qcna

"The companies would not estimate how much in reserves the discovery could hold, but Chevron estimates the entire lower-tertiary region could hold 3 billion to 15 billion barrels of oil and gas that can be extracted."

[Phasad1913]

This is great news.

Originally Posted by FHwku

http://today.reuters.com/news/articl...c=66&type=qcna

"The companies would not estimate how much in reserves the discovery could hold, but Chevron estimates the entire lower-tertiary region could hold 3 billion to 15 billion barrels of oil and gas that can be extracted."

[Kevin]

Boone Pickens was wrong.

[AGDee]

Gas prices suddenly dropped to $2.39 a gallon here today... If this is why, then I'm a happy lady.

I still think we need to focus more on finding alternative fuels though.

[macallan25]

Originally Posted by ktsnake

Boone Pickens was wrong.

Boone Pickens is a bad ass though. Was just at his Mesa Vista Ranch a few weeks ago. Does alot of business with my father.

[Kevin]

Originally Posted by macallan25

Boone Pickens is a bad ass though. Was just at his Mesa Vista Ranch a few weeks ago. Does alot of business with my father.

Doubtless. He single handedly talked up the price of oil futures in a significant way.

[macallan25]

How about the 165$ Million personal donation to OSU.......pretty crazy.

[Kevin]

Originally Posted by ariesrising

Does finding oil really help all that much when there aren't enough refineries to produce it? Cuz from what I understand that's more the problem.

It would be if there was an actual supply shortage.

[Coramoor]

I think this is funny because I know I got shit about the world running out of oil on this board before.

All I'll say is....I told you so.

There is an estimated 10x as much oil undiscovered as we have already found.

[Tom Earp]

Originally Posted by ariesrising

Does finding oil really help all that much when there aren't enough refineries to produce it? Cuz from what I understand that's more the problem.

Thank You for making a post like this!

The oil from this find supposedly will not be ready until 2010 and has nothing to do with oil prices going down for the moment. Predictions are that gas will be @ 2.00 per gallon by Thanksgiving. How in the hell can they predict that far ahead, Da!

Of course, winter gas has less additives than summer and if there is more summer gas, they need to get rid of it first.

There is plenty of Oil in the ground to last for years, and ariesrising is correct, refineries are the true answer.

2-4 Indian Tribes in Ok. are wanting to build a refinery, but how long will that take with all of the Govt. rules and regulations?

If the US Govt. was so worried, why dont they build refinerys with our tax money instead of the other BS they blow it on?

[kstar]

Originally Posted by ktsnake

Boone Pickens was wrong.

I love hearing those words.