Did u hear about BP Oils giant discovery of oil in the Gulf of Mexico today?

over 600,000 barrels a day this new well will produce. so much for the we are running out of oil argument. if you tree huggers would just let the oil companies drill we would have finds like this every monthDid u hear about BP Oils giant discovery of oil in the Gulf of Mexico today?
600,000/ day. And we use 20,000,000/ day in the US. It doesn't quite equal the amount of wells that are running dry. Even the oil companies don't believe there are many major finds left out there. There just isn't the right geology available that hasn't already been drilled.Did u hear about BP Oils giant discovery of oil in the Gulf of Mexico today?
Where do I start? 10 years before the first barrel hits the surface.


You really believe any one well would produce 600000 b/d? There are a great many more wellbores that have to be drilled and the first one cost $250 million alone.


Now, as the price goes up, more oil becomes available because it costs significntly more to extract. Oil will never run out but it will become over-priced as alternatives mature. (in about 3-4 decades)


The current day alternatives are never going to support transportaion at a cost comparable to regular gasoline even at $5/10 gallon.
Yep. I don't know if the production will equal that, but it's LOTS of oil... we keep finding it faster than we can burn it. It's amazing, really.