And that’s what Exxon Mobil has done.
- Potential for more than 700 million barrels of recoverable oil equivalent.
- Exxon Mobile drills its first post-moratorium deepwater exploration well in Gulf of Mexico.
- One of the largest oil discoveries in the Gulf of Mexico in the last decade.
â€œWe estimate a recoverable resource of more than 700 million barrels of oil equivalent combined in our Keathley Canyon blocks,â€ said Steve Greenlee, president of ExxonMobil Exploration Company. “This is one of the largest discoveries in the Gulf of Mexico in the last decade. More than 85 percent of the resource is oil with additional upside potential.”
â€œWe plan to work with our joint venture partners and other lessees in the area to determine the best way to safely develop these resources as rapidly as possible,â€ Greenlee said.
Now Feds, BOEMRE, Salazar, EPA, Obama et. al. Please don’t muck it up with bureaucracy and trying to stonewall with a bunch of nonsensical red tape. Yes, ensure it is safe but and we know these things take time. But at a time when the U.S; thanks to the Feds, has become more dependent on foreign oil and gas this is welcome and heartening news. The USGS and other entities have known all this time the U.S. has plenty of oil and gas reserves of her own. Now let’s tap them.
House Natural Resources Committee Chair Rep. Doc Hastings (R-WA) issued this statement today about the find:
â€œTodayâ€™s oil and natural gas discovery in the Gulf of Mexico is a significant step forward for American job creation and energy production. This is the exact reason why Republicans have been pressuring the Department of the Interior to issue offshore permitsâ€”America has abundant oil and natural gas reserves, we simply need to allow the hardworking men and women in the energy industry to do their job. This is opportune timing for a major oil discovery as Iranian controlled OPEC announced today that they would not increase oil production. America can become less dependent on dangerous sources of foreign energy if we safely and responsibly develop the resources we know we have here at home. Today is a perfect example of that.â€
FYI Chairman Hastings was in Alaska today to meet with the Governor Parnell and officials to evaluate the state’s energy resources.
Crossposted at Conservative Outlooks