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2007-08-30 Home Front Economy

Chevron Drills Down 30,000 Feet to Tap Oil-Rich Gulf of Mexico

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Posted by gromgoru 2007-08-30 08:54|| || Front Page|| [4 views ] Top

#1 While this was a significant discovery, don't get too carried away by it. It in no way 'proves' 15 billion barrels of future production - it just increases the level of confidence that there might be some commercial production from a new trend, a trend which might contain a number of future fields which might total 3 billion or 15 billion barrels of future production. Lots of 'mights' which will take a lot of time and money to to convert to 'ares' - gas in your SUV.

Posted by Glenmore">Glenmore 2007-08-30 10:23|| 2007-08-30 10:23|| Front Page Top

#2 Makes no difference if your processing [cracking plants] capacity remains the same, as it has for thirty years.

Posted by Procopius2k 2007-08-30 10:29|| 2007-08-30 10:29|| Front Page Top

#3 I'll believe this is a significant discovery when I pump some of its production into my tank. It's only 30,000 feet below the ocean's surface.
Meanwhile on the refining front, a ridiculous controversy over a proposed expansion of an existing BP refinery on the shores of Lake Michigan. The proposal would increase US gas refining capacity by about 0.44% of its total consumption, a very small step in the right direction. The usual suspects have piled on to object to a project already approved by the Indiana EPA.

Posted by Anguper Hupomosing9418 2007-08-30 11:11|| 2007-08-30 11:11|| Front Page Top

#4 waters nearly twice as deep as those covering Tahiti

Onoes! I never got to visit. :<

Posted by Thomas Woof 2007-08-30 14:09|| 2007-08-30 14:09|| Front Page Top

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