Jun 09, 2011 2:40 PM GMT
By way of reference, the US uses about 19 m bbl/day - but this has been dropping - so while this would make a dent, not an extraordinarily big dent. It does however also suggest that there are a lot more in deposits that may be found. Finally, where the real sources of energy are being found are in shale oil and gas.
Exxon Mobil said Wednesday it has discovered an estimated 700 million barrels of oil equivalent at a deepwater well off the Louisiana coast, a major find that a top House Republican argued should push the administration to speed up offshore permitting.
"This is one of the largest discoveries in the Gulf of Mexico in the last decade,” Exxon Mobil Exploration Company President Steve Greenlee said in a statement.
Exxon Mobil made the discovery after the Interior Department’s Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) approved an application in March allowing the company to resume exploratory drilling. Drilling at the well was halted in the aftermath of last year’s Gulf of Mexico oil spill.
The well is located about 250 miles south of New Orleans in about 7,000 feet of water, Exxon Mobil said.