Monday, October 25, 2010

BP (NYSE:BP), Deepwater Drilling Will Remain in Gulf, and Everywhere

For those of you with any delusions about drilling for oil in the Gulf of Mexico being cut back in response to the BP (NYSE:BP) oil spill, you may as well forget that, as not only will BP remain drilling in the Gulf (unless by order from the government), but they'll continue to grow, as well as other oil companies as well.

The demand and need for oil isn't going away, and the future of oil drilling and production for the foreseeable future is in deep waters around the world.

Just in the last couple of months deal after deal has been announced for new offshore deepwater drilling projects around the world.

The fantasy of so-called "clean energy" is just that. It is so ridiculously far off as far as enough energy produced and being affordable, that if oil were to be cut back on, it would devastate the economies of the world.

Even the alleged benefit of the wind turbines are devastating to birds and bats, which are slaughtered from just one windmill graveyard than the entirety of the Gulf oil spill of BP. You don't hear much about that slaughter in the press.

Again, the costs are also enormous, as well as other clean energy sources, which will evidently be available and affordable to the elites and wealthy in the future, but not the middle class or poor, who couldn't come close to affording it.

Natural gas is extremely abundant, but at this time so inexpensive companies can't produce it at a profit. Most are gravitating themselves toward oil until that changes, which will be a long time.

Contrary to the alleged peak oil myth, there are still tons of areas around the globe that haven't even been explored for oil yet, and it's going to continue to expand and enlarge because of that strong demand.

Brazil has proven there are tens of billions of oil still locked away under the ocean, with some recent discoveries estimated to be at close to 100 billion barrels combined, and they're just getting started.

Deepwater drilling and oil demand will continue for decades and longer, and unless demand changes, nothing can be done to stop it.

1 comment:

  1. Thank you Ray for that wonderfully fact free information.

    Does not the fact that the oil companies are now drilling in locations that are close to the limits of human technology (Maconda) give you some sort of clue?

    Maybe you have not heard of the Hersch report, or read the recent leaked publication from the German military, or the report fron the US military?

    Do you really believe that birds and bats are so stupid that the fly into wind turbines? Well, obviously, yes. When did you actually last see a bird, Ray? When did you last actually see for youself birds within the vicinity of a wind turbine? When did you actually pick up one of their dead bodies and get a photograph of it, Ray?

    Disinformation is what you provide, Ray. Well, good luck to you. Continue to provide your disinformation and go down with the sheeple when it all collapses.