Big Oil Find: Who Needs an Energy Policy?
We’ve struck it rich again. Black gold ready to spew forth (in pipes, hopefully) from the Gulf of Mexico. The largest oil discovery in a generation. As much as a 50% increase in U.S. oil reserves. Thank goodness, no need to pay attention to all that talk about the need for a new energy policy.
Read further, though. The estimates do run as high as 15 billion barrels. But also as low as 3 billion. No reflection of that in straightforward headlines like in the NY Times, “Big Oil Find is Reported Deep in Gulf.”
And even at the high end, at current consumption rates of 20.5 million barrels/day, all all this oil would do is fill two years worth of U.S. consumption.
Guess we still need to do something about the addiction.












NYT:
"And given that the United States uses 20.5 million barrels of crude oil a day, the new areas at most hold supplies that would quench the nation’s oil thirst for two years."
September 7, 2006 11:59 AM | Reply | Permalink
Cafe Now
hey, Jed Clampent got lucky, why not Jethro?
September 7, 2006 9:04 PM | Reply | Permalink
I suspect the "oil addict" hasn't comes to terms with the addiction problem yet...still in the denial stage since 1973.
Jimmy Carter delivered his Proposed Energy Policy speech on April 18, 1977.
Oh, history repeats itself...dumb idiots.
September 12, 2006 8:28 PM | Reply | Permalink