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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (78690)	9/12/2006 11:34:49 AM
From: Wharf Rat	Respond to of 360941

But, some observers are asking, can the US really afford to risk losing out on valuable energy resources only 50 miles (80km) off Key West? Of course we can. Nothing beats a good moral role model for the whirled; we'll show those commie bastards. :>) Besides, we have Jack... The Big Picture On July 22, 2002, a press release MMS: Oil Production Offshore GOM to Rise Steeply stated that The Minerals Management Service (MMS), Gulf of Mexico Region, released new oil and gas daily production rate projections that encompass the year 2006. According to the new report, Daily Oil and Gas Production Rate Projections From 2002 Through 2006, Gulf of Mexico Outer Continental Shelf, MMS is forecasting a daily oil production rate of between 2.00 and 2.47 million barrels by the end of 2006.... These represent high case and low case estimates. MMS Director Johnnie Burton called the new projections "a healthy, sizeable increase in the range of possible oil production. Should the high case estimates be reached in 2006, we will see a 160-percent increase in oil production from the Gulf in the period 1995-2006." Current Gulf of Mexico OCS production is approximately 1.5/mbd, down 25% from the MMS "low case" estimate of 2.0/mbd for 2006. It has yet to fully recover from the 2005 hurricanes. BP's Thunderhorse platform is still not operating and delayed until sometime in 2007 at current estimates. Did we fail to mention that the Lower Tertiary deepwater play in the Gulf of Mexico is prone to hurricanes? lomg analysis theoildrum.com