Back in 1995, a large undersea oil field was discovered -- how, I don't know -- and in 1997, a test well was drilled to determine what was down there. Four more wells were drilled to check out the scope of the field, the Neptune Field, which is about 150 miles off the coast of Louisiana in the Gulf of Mexico.
Now, over ten years later, not one barrel of oil has been pumped, although the drilling platform is designed to pump 50,000 barrels of crude oil and 50 million cubic feet of gas a day. The U.S. is currently using about 9.3 million barrels per day, almost 200 times the amount of oil that will be produced at maximum capacity by the Neptune platform.
The good news is that after 13 years, the Neptune platform might start pumping oil and gas. But do you think the gas price will come down at all because of the 50,000 barrels added to the nation's oil supply? The answer is NO.
Now, not only does John McCain want to remain in Iraq indefinitely (or is that infinitely) and kill, kill, kill, he wants to drill, drill, drill -- he'll probably be dead by the time the first drop of oil is produced, sometime late in the next decade. Do you think the gas price will come down at all in the year 2020 because of the oil that will be added to the nation's oil supply at that time (Or will you have the last of the V-8 Interceptors?)? The answer is NO.
On a brighter note, on the trip to Minneapolis, I saw two wonders of modern technology: the Dyson hand dryer in an airport men's room and the hand dryer that sounded like a jet engine and that nearly ripped my hands off in the men's room at the Lion's Tap in Eden Prarie.
Posted by Bill at June 24, 2008 06:59 PM