"Giant" oil find in Gulf of Mexico; possibly a billion barrels or more

[DaveinJapan]

http://finance.yahoo.com/news/BP-makes-giant-oil-find-in-rb-168427118.html?x=0&.v=6

How does this affect the energy conservation debate?

It concerns me, since it's yet another excuse for prolonging our dependence on the stuff and not taking sufficient action towards alternative energies.

[KansDem]

1. "Drill, baby, drill!!!"

:D

...then "spill, baby, spill."
x(

[Tyrone Slothrop]

2. It doesn't

Or at least, it shouldn't.

World oil consumption is roughly 85M barrels/day. Which means that an extra billion barrels will last approximately 12 days -- maybe two weeks if we stretch it.

It's meaningless in the big picture.

[DaveinJapan]

3. Good Lord, really??

That's a stat that should really make people sit back and think (doesn't...but it should!).

Thanks for that.

[NYC_SKP]

7. Yes, we're the biggest consumer, 3 times the next biggest consumer, China.

2007 Data:


Rank Countries Amount Date
# 1 U.S: 20,680,000 bbl/day 2007
# 3 China: 7,578,000 bbl/day 2007
# 4 Japan: 5,007,000 bbl/day 2007
# 5 Russia: 2,858,000 bbl/day 2007
# 6 India: 2,722,000 bbl/day 2007
# 7 German: 2,456,000 bbl/day 2007
# 8 Brazil: 2,372,000 bbl/day 2007
# 9 Canada: 2,371,000 bbl/day 2007
# 10 S. Ara: 2,311,000 bbl/day 2007

http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption

[NYC_SKP]

4. The US consumes more than 20 million bbls/day. This would last 50 days.

If we got it all, which we won't, because it's not ours, and it's not been extracted yet.

[undeterred]

6. I thought all the oil in the world belongs to Dick Cheney.

[joeybee12]

5. The find was by BP itself, and until it's verified, why are we suposed to

believe an oil giant's pr stunt? that said, this adds 2 more weeks of oil available to the world supply.

[Are_grits_groceries]

8. I want to see some maps and data! nt

[Kaleko]

9. Whatever happens, it will make at least one section of the population weep.

I can already hear the Peak Oil bunnies cry "No way!" and gnash their teeth.

[RC]

10. Oil - A billion barrels?

If the oil is in barrels, then they must belong to someone.