I didn’t even realize that drilling had resumed in the Gulf of Mexico. My first thought when reading this was, “How much oil is that?” US daily oil consumption is 20 million barrels. That’s just over a month in total supply, but this is still considered a rather large find—enough to justify a deep-water well. That’s sort of spooky when you think about it.
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jtem said:
Oil is over $100 a barrel. Even if they can only pull 10% of this out of the ground that’s $7 billion. So as long as they keep expenses below $7 billion they’re in profit….
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