Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (103363)	7/16/2008 12:30:27 AM
From: Snowshoe	Read Replies (1) \| Respond to of 206181

>>I'd estimate the project would take 4 to 5 years until significant production. This schedule could be jump-started by moving rigs and crews from other existing Chevron projects.<< Elroy, Can you comment on this optimistic claim from yesterday's WSJ article about early production of offshore California oil if the ban is overturned? Do you suppose this report refers to Chevron's offshore leases, or are there other oil companies still holding significant offshore California leases? Is there a buying opportunity here? Bush, in New Tactic, Lifts Ban on Offshore Drilling Move Puts Pressure On Congress to Act; Candidates at Odds online.wsj.com A Sanford C. Bernstein & Co. analyst said in a report there is a lot of offshore crude that can be produced relatively quickly. The problem: It is located off California, where politicians have built careers opposing new drilling. The Minerals Management Service said that of the estimated 18 billion barrels of oil in off-limits coastal areas, almost 10 billion are off the coast of California. "California could actually start producing new oil within a year if the moratorium were lifted," the Sanford C. Bernstein report said, because the oil is under shallow water, has been explored and drilling platforms have been there since before the moratoria.