ExxonMobil strikes oil in Gulf of Mexico

[Donger]

http://money.cnn.com/2011/06/08/news/companies/oil_exxon/index.htm?source=cnn_bin&hpt=hp_bn3

NEW YORK (CNNMoney) -- ExxonMobil announced on Wednesday that it struck oil in the Gulf of Mexico, a discovery that could yield 700 million barrels.

The company said that its first post-moratorium deepwater exploration well struck a second new source of oil and also includes a source of natural gas.

"This is one of the largest discoveries in the Gulf of Mexico in the last decade," said Steve Greenlee, president of ExxonMobil Exploration Company, in a press release.

Dan Dicker, an oil trader for 25 years and author of "Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy," said the discovery would provide enough oil to power the U.S. for 28 days, based on the daily consumption of 25 million barrels.

"It's not insignificant at all," said Dicker. "It's not an energy solution, but it's a significant piece of our supply puzzle."

While this is good news for the U.S. oil industry, it's unlikely to have a noticeable impact on the world oil supply, according to Manouchehr Takin, senior petroleum analyst at the Center for Global Energy Studies in London.

Takin said the world uses about 72 million barrels of crude oil per day. The recent find is enough to power the world for about 10 days, he said, though it will take a couple of years to be drilled, collected, refined and sold to consumers.

[Iowanian]

Excellent.

Drill baby drill.


MOAR! OYL!

[L.A. Chieffan]

10 days

[Donger]

10 days

That's to supply the entire world, yes. Just for scale, this amount (which will be increased) is as large as the SPR.

[Bump]

this will surely mean that gas prices will be going up, somehow.

[Reerun_KC]

this will surely mean that gas prices will be going up, somehow.

Yep, I am waiting for $5.00... This has to cause a spike...

[4th and Long]

I predict an earthquake in the Gulf soon after they start sucking the oil out.

[blaise]

But, nature and stuff.

[Donger]

this will surely mean that gas prices will be going up, somehow.

LMAO

[Stewie]

How coincidental. OPEC says no increase in output (because they can't) and now we have a few drops announced as a headline.

[vailpass]

Can we build a drill and pipeline system that can go from the US to underneath Saudi Arabia/Middle East and suck all the crude back to here?

[Donger]

How coincidental. OPEC says no increase in output (because they can't) and now we have a few drops announced as a headline.

No. They can increase output (as a group). The Kingdom and Kuwait were willing, but others (namely Iran and Venezuela) aren't willing to increase production.

[KCUnited]

Oil of Olé

[Rausch]

Can we build a drill and pipeline system that can go from the US to underneath Saudi Arabia/Middle East and suck all the crude back to here?

Could we drink their milkshake?...



Good question...:hmmm:

[vailpass]

Could we drink their milkshake?...



Good question...:hmmm:

How great would it be to see the looks on their faces when they discovered their tanks were dry and that sandy wastleand they live in was just one giant litterbox?

[Mr. Laz]

over/under how how many times Donger bumps this thread in the future?

[Pitt Gorilla]

Dammit, Obama! :cuss:

[Donger]

over/under how how many times Donger bumps this thread in the future?

I probably will when they increase the estimate. That's okay, isn't it?

[4th and Long]

Keep drilling, boys. Keep drilling.
http://t1.gstatic.com/images?q=tbn:ANd9GcRjquEDG-Hh3nZ-ZDSHVDwTB59QwKik22HuyzPNX_Wh-fqAfhnzwomDp9E

[Donger]

Can we build a drill and pipeline system that can go from the US to underneath Saudi Arabia/Middle East and suck all the crude back to here?

http://4.bp.blogspot.com/_VizIrBQwA8w/TCtb-k-gQxI/AAAAAAAAJno/g4NvAkN7BTc/s640/slant+drilling.JPG

[vailpass]

http://4.bp.blogspot.com/_VizIrBQwA8w/TCtb-k-gQxI/AAAAAAAAJno/g4NvAkN7BTc/s640/slant+drilling.JPG

LMAO Exactly.

[Rooster]

If they would just make the barrels bigger we would use less barrels of oil. Seems like a no brainer to me.

[Mr. Laz]

I probably will when they increase the estimate. That's okay, isn't it?maybe you could get a mod to combine your oil/gas threads into one convenient location.

ooohh oooo ... i know, maybe we have an oil subforum with you as a moderator.

[Donger]

maybe you could get a mod to combine your oil/gas threads into one convenient location.

ooohh oooo ... i know, maybe we have an oil subforum with you as a moderator.

Interesting. I don't really understand your huffiness. I update the pricing on the $4 thread when it is warranted. I don't know of another one that I have started other than this one, which I started it because it's rather important news.

[blaise]

I can barely find out what isn't going on with the NFL because of all the oil and gas threads around here.

[Mr. Laz]

Interesting. I don't really understand your huffiness. I update the pricing on the $4 thread when it is warranted. I don't know of another one that I have started other than this one, which I started it because it's rather important news.
1st time every to be call Huffy ROFL




i'm gonna shoot for haughty next PBJ

[Bowser]

Sweet! Can't wait for oil to drop to near underground prices of 3.40/gal!

[Donger]

1st time every to be call Huffy ROFL




i'm gonna shoot for haughty next PBJ

I think you should stick with huffy.

[Mr. Laz]

I think you should stick with huffy.
How about supercilious? :thumb:

[Donger]

Sweet! Can't wait for oil to drop to near underground prices of 3.40/gal!

This crude won't be refined for a another one or two years, so no, it won't have an immediate effect on gasoline prices.

[4th and Long]

I think you should stick with huffy.
I agree.
http://www.babygiftsoutlet.com/images/large/huffy-20inch-girls-sea-star-bike_BG05852.jpg

[Saulbadguy]

http://4.bp.blogspot.com/_VizIrBQwA8w/TCtb-k-gQxI/AAAAAAAAJno/g4NvAkN7BTc/s640/slant+drilling.JPG

Solid post.

[Dave Lane]

How great would it be to see the looks on their faces when they discovered their tanks were dry and that sandy wastleand they live in was just one giant litterbox?

And we are all fucked...

[vailpass]

And we are all ****ed...

What do you mean Loon? Rectal prolapse got you down?

[BigMeatballDave]

In other news, Donger has multiple orgasms.

[Over-Head]

I predict an earthquake in the Gulf soon after they start sucking the oil out.
And another spill losing half the deposit

[Saul Good]

If they would just make the barrels bigger we would use less barrels of oil. Seems like a no brainer to me.

Better yet, we could make them smaller, and this would yield twice as many barrels.

[Stewie]

No. They can increase output (as a group). The Kingdom and Kuwait were willing, but others (namely Iran and Venezuela) aren't willing to increase production.

They can't and it's been proven. They use the excuse of Iran and Chavez, but they're done.