Shocking Development: Allowed to Look for Oil, Big Oil Company Finds…Alot of Oil
We’ve been told and told by the Global Warmists, the Peak Oilers and every other brand of modern Malthusians that there just isn’t any more oil out there left to find. (Granted, they’ve moderated their tune to “no easy oil left to find” of late after monstrous finds offshore places like Brazil and Ghana.) We’ve also been told that if there is any oil left to find, it’s so remote as to not be worth it.
Well, a little outfit called ExxonMobil today announced that they found a rather large deposit of oil in that far off region known as “GulfofMexico”, just 250 miles from an obscure trading post so unheard of that few know how to properly pronounce its name…Nu or-LEENZ..??… Nu OR-lenz…??, or perhaps even N’AH-luns…??
“We estimate a recoverable resource of more than 700 million barrels of oil equivalent combined in our Keathley Canyon blocks,” said Steve Greenlee, president of ExxonMobil Exploration Company. “This is one of the largest discoveries in the Gulf of Mexico in the last decade.
And there is likely more than 700 million barrels because virtually every large discovery ever that has produced commercially has ultimately produced more than its original estimates, and because they haven’t even finished the exploratory drilling here…
The estimated size of the find may increase as the well goes deeper, Irving, Texas-based Exxon said.
So this is great news, except for this one small kick in the pants…
ExxonMobil announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company’s first post-moratorium deepwater exploration well.
The drilling moratorium has been lifted only for a matters of weeks, and only after the Obama administration took several legal drubbings and felt intense economic pressure. And the drilling moratorium was dumb and scientifically unsupported in the first place, and yet the White House persisted rather intransigently. So, we could’ve been celebrating this discovery one year ago. That extra year of work, an extra year closer to having that oil commercially available, is looking like precious time wasted right about now…
