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Gushers ! |
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Chevron,
the major oil company,
along with its corporate partners,
announced a massive oil & gas discovery in the Gulf of Mexico. It
may add 50% to US proven oil reserves. |
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The
discovery is the largest since that made in Prudhoe Bay, Alaska some
forty years ago. |
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The
well was drilled about 5.3
miles below sea level 270 miles southwest
of New Orleans, 175 miles off the coast of
Louisiana. |
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Chevron said
the well set a variety of records that
include being the deepest well
successfully tested in the Gulf of Mexico. Also,
the well was drilled more than 20,000
feet under the sea floor beneath 7,000 feet
of water -- at a total depth of 28,175
feet. |
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Of
course a project this grand will take around four to five years to
begin producing meaningful quantities of oil and natural gas.
However, it does reduce America's intermediate-term dependency upon
Middle East and African oil. |
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American
consumers can now easily understand where today's oil company
profits go. Much of the billions of dollars seen as today's oil
company profits will be spent poking holes in the earth exploring
for discoveries to fuel America tomorrow. |
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American
technology, American ingenuity, and American perseverance will
continue to move the civilized world ahead... and keep it
safe at the same time ! |