So much for stories of dwindling oil off US shores.
Nearly seven miles below the Gulf of Mexico, oil company BP has tapped into a vast pool of crude after digging the deepest oil well in the world. The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska’s famous North Slope oil field.
The company’s chief of exploration on Wednesday estimated that the Tiber deposit holds between 4 billion and 6 billion barrels of oil equivalent, which includes natural gas. (USA Today)
With this discovery in an area thought by many critics to have no oil potential anymore, and President Obama financing oil exploration in Brazil with your tax dollars, the least we can do is allow private exploration off our own shores and see what’s there.
Today’s technology makes yesterday’s barren sites a new world of discovery, with this one 35,000 feet down. That we haven’t even explored the East Coast for anything in decades is indefensible now. No need on banking on the estimates from years and years ago to decide what might or might not be available.
McDonnell’s “More Energy, More Jobs” strategy makes sense, and the arguments against it wilt when compared to the opportunities that exist.
