Maybe it’s not a marble-sized balloon after all? BP finds another new oil source.
A 20%-30% recovery rate, which would be typical for this kind of field, would imply recoverable reserves of 600 million to 900 million barrels of oil equivalent, said Mr. Hutton.
…
The Tiber well, 250 miles southeast of Houston, Texas, is in 1,259 meters of water and was drilled to a total depth of 10,685 meters, “making it one of the deepest wells ever drilled by the oil and gas industry,” the company said.
I’m sure this was accidental. I am sure that without the chance to earn some income from it that these sources would continue to be found. I am sure that some planner would have thought it feasible to drill a hole over 6.6 miles deep into the earth just to get some oil. And I am sure that if some public servant were smart enough and risk-seeking enough to do it, that he could deliver it to us for the equivalent of $70 per barrel. Yup. I believe it.
Unrelated to this post but, remember that Che-shirt wearing student you had a while back?
http://www.topatoco.com/graphics/00000001/smbc-milton.png