Big Oil races to drill deep in the Gulf of Mexico
 

Interesting chart...

http://money.cnn.com/news/storysuppl...n_bin&hpt=Sbin

This will be Obama's waterloo.

Arizona will be his Alamo.

they have to meet demand somehow. they can't just click their heels together and shit oil.

they should be investing in solar energy and hydrogen energy etc, not screwing the planet even more! OMG

:1orglaugh

You can not just "turn off" the dependency on oil. :2 cents:

global demand for oil is expected to rebound significantly over the next several years, particularly in developing economies.


Global energy demand is expected to rise 40% over the next two decades, with fossil fuels accounting for the majority of that increase, according to a 2009 report from the International Energy Agency.

And the industry is banking on that demand growth. Oil companies will spend a total of $167 billion over the next four years on deepwater projects around the world, up 37% over the previous four years, according to Douglas Westwood.

By 2020, the group forecasts that deepwater production will rise to over 2 million barrels per day from just under 1.8 million barrels per day. At that level, deepwater production would represent more than half of total offshore production.

hopefully they'll invest a few billion dollars in contingency plans, in case another leak springs up.

wouldn't that be nice! :thumbsup

They are in the oil business....


Are you investing in laundry services, and 7/11s?


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The Oil drilling and refining business is in NO WAY related to solar and hydrogen energy.... sorry.


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as long as there's deep water drilling, there will allways be the risk of spills.

You mean like Beyond Patroleum? Hmm interesting thought.. You would have thought they would have thought of it before. I would have to somewhat agree since they are using 1979 techniques to control the spill. You would have thought they learned something since then.

We will be using oil until the very last drop has been squeezed from the planet. Fact.