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Old 09-02-2009, 08:48 PM
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Michael1 Michael1 is offline
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Default Re: BP makes "giant" oil find in Gulf of Mexico

Quote:
Originally Posted by Billo_Really View Post
I'm a Green.

Now, correct me if I'm wrong, but isn't BP a "British" company?
Not sure exactly what you're getting at. BP is an international company:
Quote:
BP, the biggest oil producer in the U.S.
allows me to believe this multi-national is truly a multi-national. You seem to think that only British people own it, that only British people work for it, and that it's like the Russians or Venezuelans staking a claim to oil. Luckily, we and the Brits haven't NATIONALIZED. Methinks you have no idea how private international corporations operate in the least bit.

Furthermore, and on a good note:

Quote:
Iain Armstrong, analyst at Brewin Dolphin, said the discovery may have implications for long-term oil prices.

"It will ease concerns about peak oil because it shows there is life left in these mature areas," he said, adding that it could be the second half of the next decade before the find is producing.

The discovery also bodes well for other exploration in that part of the Gulf of Mexico, including at Royal Dutch Shell's nearby Great White field, Jason Kenny, oil analyst at ING in Edinburgh, said.
Sounds like good long-term news.

and

Quote:
The prospects for massive discoveries in the deep water of the Gulf of Mexico is also good news for U.S. politicians' ambitions to reduce the country's reliance on imported oil, although oil executives doubt the U.S. is capable of becoming self sufficient in oil.
Deep sea exploration by non-nationalized oil firms is certainly still an important, integral piece toward our gradual transition toward more renewable energy sources. We should all admit this..., and not merely keep burying our heads in the sand of 'no more drilling' and 'carbon taxes on only the developed countries, wimply compliant'.

Cap and trade is dead in the water!
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