Spence, I thought I read that it was possible that there was 3 to 15 billion barrels in that area in the gulf. The world uses 84 million barrels a day, so 500 million wouldn't have much of an impact on the long range price of oil. Billions on the other hand, could bring down the future price.
I'm sure there's the possibility for billions of undiscovered reserves in the Gulf...possibility.
Also note that this discovery was 35,000 feet down!
I'm sure there's the possibility for billions of undiscovered reserves in the Gulf...possibility.
Also note that this discovery was 35,000 feet down!
-spence
They seem to be pretty sure about this one. Otherwise, they wouldn't be planning on spending tens of billions of dollars to get the oil. The big problem will be the shortage of rigs that can drill that deep.
Conservatism is not about leaving people behind. Conservatism is about empowering people to catch up, to give them tools at their disposal that make it possible for them to access all the hope, all the promise, all the opportunity that America offers. - Marco Rubio
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