Christian Message Boards: (Biggest ever) Oil field off the coast of Lousiana!

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Posted by Kindgo (Member # 2) on :

Scientists discover (Biggest ever) Oil field off the coast of Lousiana!

(((but watch environmentalists throw a hissy fit against it if true!)))

Scientists Discover (Biggest Ever) Oil field off U.S. coast....Scientists from the University of Cornell have discovered a massive amount of Oil off the coast of Louisiana.The find is some 60 billion barrels or 3 Times more than current US recoverable Oil of 20 Billion barrels, and would bring US total reserves to 80 billion barrels which is on par with Venezuela. In comparison to other finds around the world, this is twice the size of all Oil ever found in the North Sea and 6 times larger than the estimates of the Alaskan ANWR oil deposits........

Quote:
“This is enough Oil to make the US self sufficient and make
foreign Oil supply disruption a thing of the past”
May 1, 06

to read the whole thing ......... http://www.newtechspy.com/articles06/oildiscovery.html

Posted by WKUHilltopper (Member # 5472) on :

How reliable is this news source? I can't find this on any business news services.

Posted by SoftTouch (Member # 2316) on :

I'd heard about this a while ago, that we had a HUGE field in the Gulf of Mexico off the coast of Florida but Jebb Bush would'nt allow drilling for environmental purposes...

Posted by Kindgo (Member # 2) on :

Well maybe this story is total bunk, as I havent heard anything more of this in the interim, I assume it didnt come to much.

I am so sorry, [Frown]

I will be more careful from now on. I was excited when I read the story and wanted to share it here.

Posted by SoftTouch (Member # 2316) on :

No Sis, I don't think the story is bunk. I remember reading several things about it a while back but it got burried and we never heard any more about it (just as the environmentalists wanted)

Posted by WKUHilltopper (Member # 5472) on :

quote:
Originally posted by Kindgo:
Well maybe this story is total bunk, as I havent heard anything more of this in the interim, I assume it didnt come to much.

I am so sorry, I will be more careful from now on. I was excited when I read the story and wanted to share it here.

Oh, no Kindgo, I wasn't hammering you about it. Please don't think that. And please don't let this keep you from posting stuff like this. I was only wondering if the source was reliable--that's all. Wasn't judging you for posting it. I just can't find anything from WSJ, Bloomberg, etc, on it.

I hope it's true. Also I was thinking if there was something to it, the oil futures market would respond to this information on the potential additional oil in the market. The price of oil should show signs of decline, but it's not. Granted, it will take time to get this in the supply chain and in production, but there should have been some response in the market price.

Posted by Kindgo (Member # 2) on :

Thank you both for the kind words... [hug]

Here's a couple more links -

http://www.geotimes.org/june03/NN_gulf.html (dated June 2003)

and this one

http://www.news.cornell.edu/Chronicl...S-Cathles.html (dated April 2003)

Posted by Eduardo Grequi (Member # 3984) on :

The reason why you do not hear much on this is because of Hurricane Katrina and the others that caused 3 oil field to bust. The was what was reported on 60 mintutes here on channel 7. I have heard about these only twice on the spanish TV and the German Tv channel. I guess the American News do not like talking about these fields because thier main concern is establishing and rebuilding the gulf coast from East of Houston to Pensacola, Fla.

Posted by Miguel (Member # 47) on :

There is efforts made on the table, not all is bad news.

May 4 2006

WASHINGTON (CP) - It's long past time to open up the Arctic National Wildlife Refuge to oil drilling, U.S. Energy Secretary Samuel Bodman said Thursday after meeting with Natural Resources Minister Gary Lunn and their Mexican counterpart.

"We'd like to see it done now," Bodman said after a meeting centred on securing the continent's energy supply amid skyrocketing oil prices and limited supply.

Long a priority of the Bush administration, the move has repeatedly stalled in Congress. But officials hope voter outrage about paying more than $3 US a gallon at the pumps will finally spur legislators up for re-election this fall to pass the measure.

Canada has always opposed opening up the Alaskan park, saying there are better ways to pad future supplies, including the Alberta oil sands and natural gas from the far north.

The former Liberal government actively lobbied against drilling, saying it would devastate migrating caribou herds that cross the border and sustain aboriginal communities on both sides.

Conservatives, mostly quiet on the subject until now, say they expect to actively oppose the measure on Capitol Hill as well.

"There are some very serious ecological considerations here," said Emma Welford, spokeswoman for Lunn.

"It's not something we'd like to see happen."

U.S. legislators have been scrambling to quell anxiety about gas prices, which have hit $1 Cdn a litre in Canada. The House of Representatives has passed a bill aimed at cracking down on oil price gouging and the White House wants to boost fuel-efficiency standards for cars.

"We're trying to do everything that we can do that we know that works," said Bodman.

The three officials, including Mexico's Fernando Canales Clariond, are tasked with integrating North America's energy markets, including keeping common statistics and the same efficiency standards for appliances.

They talked about natural gas markets, energy efficiency and new technology.

The U.S. have increasingly been eyeing potential north of the border.

"Nobody is talking about guarantees of supply from one country or another," said Lunn. "There's no question we have some great opportunities up in the oil sands but there's many other opportunities as well.

"All of these could have an impact on the price . . . We're going to do everything we can to ensure there's a long-term, stable supply and we believe it's there."

In March, Bodman called future energy from the Alberta oilsands a "very important component" of the U.S. supply, saying he's unconcerned about Chinese investment in the rich resource and he's hoping proximity will ensure most of it flows south.

"There's been a predisposition for the U.S. to believe that whatever develops will find its way to the U.S. market," said energy analyst Frank Verrastro at the Center for Strategic and International Studies.

"And the two countries are better aligned now. But you don't take this for granted. Producers have a lot more leverage."

The energy security initiative was established by the three countries under the Security and Prosperity Partnership at a meeting in Mexico in March.

Canada is the top exporter of oil to the U.S., accounting for 17 per cent of its imports. It has the world's second largest proven oil reserves at 179 billion barrels.

Posted by Eduardo Grequi (Member # 3984) on :

I saw this documentary about ethanol. It would be great to shake the use and over bearing of foreign oil.

Did you know Brazil has been self proficient in term s of foreign oil use.

We should for this. After all we have abundance of vegetation that grows back every season. Brazil out of one plant alone makes 300,000 barrels of ethonol daily. And they use every part of the plant. The main plant they use is sugar cane. You can use any plant to make ethonol. Cars that are made there have Flex1 tanks. Where these tanks can use either ethonol or gasoline. I remembe Sao Paolo used to be so polluted in the air because of oil/coal now it is considered to be one of the cleanest regardless of the 18,000,000 people living in the greater Sao Paolo area.

If we can convert to ethonol, farmers can be self proficient. President Bush must now push this.