By the Numbers: Gulf of Mexico Energy
By Barry Ritholtz - May 4th, 2010, 3:30PM
via the NYT
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
May 4th, 2010 at 4:35 pm
90 drilling rigs to produce 1.7 million barrels of total oil production in the Gulf means each of these very expensive rigs produces around 19,000 barrels of oil daily. Doesn’t seem like very much for the investment required.
And the 1.7 billion total barrel daily production is only a very small part of the 20 million barrels of oil we consume daily!
See:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2174rank.html
May 5th, 2010 at 3:49 am
yeah, we buy the rest from our enemies
save the planet,kill yourself.
thats what it will take.
May 5th, 2010 at 7:34 pm
1.7 million BPD divided by 20 million BPD consumption gives 8.5% of our daily oil consumption is coming out of the gulf.
That’s nothing to sneeze at. If it were shut-in, prices would rocket upwards.
May 7th, 2010 at 9:57 pm
What’s amazing is that this well is so far out the rights to it don’t go into into the Gulf Coast states money…but to BP and who they lease it out to.
Tax money that could go to USA/States goes into the Oil Drillers and their leasee’s coffers.
It’s quite awful this whole thing and what it reveals. Who really owns the sea floor? And, how is it the profits go to the driller……? Who should decide this…who owns the earth outside our national boundaries and who profits and who pays the cost when everyone suffers for a mistake, mishap, accident?
questions…..
May 14th, 2010 at 4:36 pm
The profits go to the people who put the resources to work to do the recovery, and to their stockholders. And if you have a mutual fund, 401k, union annuity, or any such, you get some of those profits too. Meanwhile, you get to buy gas almost anywhere that other people risked their lives and or fortunes to get to your locality, instead of having to raise your own grain to fuel your own horse to drag home the wood that you cut to heat your house to…etc, etc, etc.