SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: tejek who wrote (392520)6/19/2008 1:20:58 PM
From: d[-_-]b  Read Replies (4) of 1575899
 

I have heard absolutely no one in the oil business say that. The best I've heard is that we can maintain the same level of reserves for the next 5 years.


Here is a government branch that claims far more may exist:

mms.gov

Offshore Minerals Management Strategic Plan, 2007-2012 (12/12/07)
(1424.59 KB PDF file)


The MMS plays a key role in America’s energy supply by managing the mineral resources on 1.76 billion acres of the Outer Continental Shelf (OCS). The OCS is a significant source of oil and gas for the Nation’s energy supply. The approximately 43 million leased OCS acres generally accounts for about 15 percent of America’s domestic natural gas production and about 27 percent of America’s domestic oil production. The MMS’s oversight and regulatory frameworks ensure production and drilling are done in an environmentally responsible manner, and done safely.

The offshore areas of the United States are estimated to contain significant quantities of resources in yet-to-be-discovered fields. MMS estimates of oil and gas resources in undiscovered fields on the OCS (2006, mean estimates) total 86 billion barrels of oil and 420 trillion cubic feet of gas. These volumes represent about 60 percent of the oil and 40 percent of the natural gas resources estimated to be contained in remaining undiscovered fields in the United States.

The OCS Lands Act requires the Department of the Interior (DOI) to prepare a 5-year program that specifies the size, timing and location of areas to be assessed for Federal offshore natural gas and oil leasing. It is the role of DOI to ensure that the U.S. government receives fair market value for acreage made available for leasing and that any oil and gas activities conserve resources, operate safely, and take maximum steps to protect the environment.

OCS oil and gas lease sales are held on an areawide basis with annual sales in the Central and Western Gulf of Mexico with less frequent sales held in the Eastern Gulf of Mexico and offshore Alaska. The program operates along all the coasts of the United States - with oil and gas production occurring on the Gulf of Mexico, Pacific and Alaska OCS. The MMS is also responsible for other mineral production offshore, which currently includes using sand and gravel for coastal restoration projects.

The Offshore Minerals Management Program operates under the leadership of Associate Director Chris Oynes and Deputy Associate Director Bob LaBelle.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News