'Huge oil find' in Gulf of Mexico

[Quicksilver]

Drilling at a test well yielded "a flow rate of more than 6,000 barrels of crude oil per day", Chevron said.

The discovery may rival the biggest US oil field in Prudhoe Bay, Alaska

http://news.bbc.co.uk/2/hi/americas/5318776.stm?ls

[Wagner]

Yah estimated reserve of 15 billion barrels or roughly 50% of the current US reserve. Amazing what technology can do.

[rayxi]

I guess that means we can continue to drive V8's, V10's and V12's.

[BMW X5]

prices have dropped a bit

[ylwjacket]

every time I do a 0-60 sprint, it costs me about 10 bucks. Could use a little price break.

That, and my boat burns about 50 gallons an hour. That's starting to smart a little too. Maybe I can find that well and hook the boat right up for wholesale.

[BMW X5]

good one ylw

[The Cleaner]

Ever get the feeling we are buying the worlds oil now so we have more later that is ours? I have heard there is enough untapped oil in Alaska to fuel 100% of the USA for 20 years. I wish I had the link I read that on.

[BMW X5]

if thats the case then we are doing the right thing, 20 years is enough for technology to progress enough for a lot of changes

[Eric5273]

Originally Posted by The Cleaner

I have heard there is enough untapped oil in Alaska to fuel 100% of the USA for 20 years.

We use around 21 million barrels per day. That comes to about 7.6 billion barrels per year. If our current consumption does not increase, that would mean we would use around 150 billion barrels over 20 years.

Just for comparison, here are the largest oil producers and how much they have in their reserves:

Saudi Arabia: 260 billion barrels
Iraq: 110 billion barrels
Kuwait: 95 billion barrels
Iran: 90 billion barrels
UAE: 60 billion barrels
Venezuela: 45 billion barrels.

So your statement is certainly wishful thinking.

[The Cleaner]

Originally Posted by Eric5273

We use around 21 million barrels per day. That comes to about 7.6 billion barrels per year. If our current consumption does not increase, that would mean we would use around 150 billion barrels over 20 years.

Just for comparison, here are the largest oil producers and how much they have in their reserves:

Saudi Arabia: 260 billion barrels
Iraq: 110 billion barrels
Kuwait: 95 billion barrels
Iran: 90 billion barrels
UAE: 60 billion barrels
Venezuela: 45 billion barrels.

So your statement is certainly wishful thinking.

Great numbers, I really wish I remembered where I read that, I'll run across it again. Looking at 150 billion barrels for 20 years your numbers dont make it totally out of the question we have that kind of oil up there, but your right... not to likely.