Publiuspundit Posted an interesting Look at A potential Huge Oil Find
Source: National Aeronautics & Space Administration
"Today, a quiet revolutionary time bomb was presented to Hugo Chavez. He has no idea what it is or what it means. But this gift means it’s all over for the brutal Venezuelan tyrant in the next few years. He won’t be bothering us anymore. He won’t be bothering anyone anymore. He’s finished.
Treasure was discovered in America’s Gulf of Mexico waters today, black gold so vast and so deep and so surprising and so recoverable that overnight, America’s energy reserves have just increased as much as 50%. Chevron, Norway’s Statoil and deep-sea driller Devon Energy have just discovered as many as 15 billion barrels of previously unknown oil in a vast underwater pool five miles under the floor of the sea. No one even had a clue about this huge oil’s existence up until new high technology of deep sea drilling (cost: $1 billion a pop, and every bit as weird and high-tech as a spaceship) came to the fore.
But now it’s known. And even with America’s oil appetite at 6 million barrels of crude a day, oil prices just dropped $2 to $68 a barrel due to all the anticipated coming supply. And these prices are going down further. That’s great news for everyone - little countries like Costa Rica whose citizens have to pay top dollar for fuel, as well as the average American mom in her SUV cringing at her final bill at the pump.
Oil tyrants beware.
The West, having discovered free-world sources, now may no longer need their oil. They will no longer be able to abuse us with their threats of nuclear and other blackmail if we don’t do their bidding. Sky high oil prices may be a thing of the past. China and India will get the oil they need with no ill effect on the rest of us. There will be no short supply. There will be oil for all.
Most critically for the cause of democracy, these brutal tyrants - in Iran, Chad, Russia and Venezuela - will no longer have so much oil money they will be un-beatable as leaders in their own countries and emboldened to oppress their citizens. Democratic pressures will now have room to grow of this.
This is revolution.
Venezuelans, Russians, Africans and Iranians now have reason to rejoice, because they will have far more bargaining power to demand change. It’s like divinity sent this huge oil windfall down to us all. Just out of the sky, just out of the water. Thanks to Chevron, Statoil and Devon, we are now all blessed - America, the oppressed states, China, India, and the rest of the world."
A.M. Mora y Leon @ 11:17 pm |