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Old 09-12-2006, 04:49 AM
They They is offline
Join Date: Aug 2006
Posts: 93
Default Re: The "Peak Oil" Fraud - An Industry Publication.

truebeliever wrote:
I heard about this field in the Gulf over a year ago. I've been gob smacked at how it's being portrayed as some sort of "just discovered" field.

There's billions of barrels more in the area...of course you and I wont hear about that just yet. :-)
Well, that is not suprising. The seismic info was in hand and the contracts etc. had to be let for the leases and test wells well in advance of drilling. All this really did was confirm what everyone already knew or suspected.

The bigger question is why are they drilling so deep? There is as much oil and gas in the near offshore areas of the GOM and the Atlantic coast as all the current PnP reserves in the US today.

Unfortunately, it is illegal to drill there. Good, sound environmental protection? Perhaps. Or, a tactic to keep oil 'scarce' and prices high?
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