New Oil Found in Gulf of Mexico

Just out of interest – petrol is averaging £1 ($1.90) a litre in the UK. (About $7.22 a gallon) What does it cost in the US? We have to look at alternatives.

In north Alabama it is currently $2.45 a gallon and falling. CNN predicts less than $2 a gallon by Thanksgiving, that is Nov 25th.

We're already pumping way too much carbon into the atmosphere, and more cheap oil won't help that situation at all.

A free market system. I think what we have is more of a monopoly. It's not supply and demand, it's what can we get vs. what will they pay.

how can Chevron claim to have found oil in the gulf of mexico, it's been there for nearly a millenoum or maybe even more and just maybe it will stay there for an other millenium just maybe it wasn't really lost in the first place.

We the sicence-testers seem to preclude the earth in all our designer built models of whatever and disregard still the fact that if we can use crude oil for a cooling fluid then maybe just maybe the earth was using it for the same purpose?

Yes go figure huh the earth needing a coolant, I suppose from looking at the absurd and sublime for so long I see what other may not even contemplate.

on the other hand who cares about CO2 ommissions well I don't the world's volcanoes, cows, buffelo, and a whole array of other causes of C02 emmissions can be pointed to

Really folks is the human race that big that it can make a difference by adding something to the planet, I think not it's been here for trillions of milleneia before we discovered Om ( the probable first utterance know)or even culture. (e.g. Ja way kewl dudes)
it's been here sOooo.. long we are not going to make a difference. The only difference we are going to make is maybe taking away a valuable resource the planet has need of and then the only difference is that through cause and affect we will be causing our own demise THE_END of the humand race and probably most of any other biolological being we can see with the naked eye.

take a look around you, think.

I agree with you. In the interm, lets keep the oil flowing for my 1961 big block V-8 Thunderbird.

1961 big block V-8 Thunderbird huh "nice" I would choose 1964 chevey but alas your's would do.
well have you seen the latest EV you might even change your minds
( slow poke, all in the best possible taste)

You can find it in the link at my blog or just watch the movie I've posted there (a).

If you follow the link under the movie you see that it uses one third of the fuel of petrol vehicles while beating a porche and ferrai in the quarter mile sprint.

and Roger pink yup your right as you usuually are in most of you great informative letters, which by the way I enjoy very much.
the post is thought provoking rather than accurate with the years posted, and it works

(a) http://my.opera.com/mdbobbo/blog/

I had no idea the Human race was around for trillions of milleneia. So if the Human race is quadrillions of years old, and the Universe is roughly 10-15 billion years old, where were we?

I re read my post Roger Pink and the last reference before "Trillions of Milleneia" WAS earth stop, just to point that out. not a text war I want to get into but hey.
e.g before we discover OM or culture.

Not looking for a war, just wanted to give you a hard time ;)

As far as we know, the Earth is 4.5 billion years old, or 45 Million Millennia old. 1 Trillion Millennia would be ~225,000 times older than that. The universe itself is supposed to be only 15 billion years old. 1 Trillion Millennia would be over 65,000 times older than that. So I was just trying to point out that you were saying oil has been on earth for at least a quadrillion years. I don't think this is what you meant. I think you were just trying to say its been around a long time before humans, which is absolutely true.

It's true the Earth is big and old. But when we talk about climate change, remember, we are talking about a change in the very small part of the Earth that we live in. There is no doubt that CO2 levels will have small to no impact on the core of the Earth or the Mantle, but we don't live there, do we? No, the point is that increasing amount of green house gas will effect our region significantly, but our region only consists of a small region around the solid / liquid to air interface we occupy.

When we refer to a "barrel" of oil, what does that mean. Are we talking a 55-gallon drum, or is there a defined standard. No matter how you slice it, 6,000 barrels of oil, which is the output of Jack #2 doesn't sound like very much oil.

According to onlineconversion.com one U.S. petroleum barrel is equal to 42 U.S. liquid gallons.

A barrel is 42 U.S. Gallons. Remember that Jack 2 is one well. I'm sure that once the field is developed, it'll have many wells.

Of course, we (worldwide) are using 1000 barrels of oil a second, so 6,000 barrels isn't all that much :-)

the 6,000 barrels of oil indicates the flow rate of the test well. in other words, the well appears to be able to produce 6,000 barrels per day. that's a pretty nice flow rate. which explains why they are so excited about the test results. incidentally, a lot of people are thinking crude oil. what is really down there is some crude oil and a whole lot of gas condensate. start learning at http://www.theoildrum.com

What all of us USA citizens need to do is go on strike and demand that our government stop buying the oil from other soarces outside our country. If all of the auto owners and users would not buy any fuel for three days accross the country, there would be a great crack down the sidwalk of wall street at the exchange. Our country has the potential to make heads turn, we just need the proper people in our congress area and improved leadership in this country. Our government has become a crooked and bought by big business to look the other way. We should not be depended on foriegn oil, bottom line. The EV has been turned over in its' grave several times in the past 50 years. Only to be squashed by the big auto manufactures and oil companies. The EV would actually cut into the pie they have been so accustomed too. And their reveneu would be real short. Ha! It is time "We The People took over"!

I think it will help Mexico in getting rid of their 100 billion dollar loan. Mexico, Brazil and India are in problem because of oil. Each have 100 Billion-dollar loans so are poorest in the world.

God help them, as humanity is parasitic. Outsiders, who ruled India for 600 years, left India with loans. I am not sure how other countries got into this in-human trap.

India perhaps can manage due to highest number of engineers generating country. In another 20 years, it will have greater men than rest of the world and most of the educated to engineering graduation. This may not happen in Mexico or Brazil and Mexicans like to sneak into USA for easy life.

This may not be globally PC but as an American I believe we should continue buying our oil from overseas at $50 a barrel or whatever it is until it starts to run out over there. Then "Oh, whats this?" start exploiting our own reserves and sell it back to them for $200 a barrel. Or not. Re: Global Warming. Every explanation I hear blames it on greenhouse gasses, emissions. Has anyone considered that maybe its because we are generating more HEAT on the surface of the earth than at any other time in history? 6.5 Billion people generating body heat, I can't even stand a gymnasium with 200. All the fuel we burn for whatever reason. Nuclear fission reactors. Most uses of electricity if followed far enough down the line end up dissipating the energy as heat. Friction. Unfathomable amounts of energy are burned up overcoming friction. Most people just consider it 'lost' energy. But it ends up as heat. We can take a lesson the PC CPU industry is learning. There comes a point where it doesn't matter how big your heat sink is, if you keep feeding more and more watts into the same area the temperature will rise to unacceptable levels. slo