Voice from the Commonwealth
Commentary, World Views and Occasional Rants from a small 'l' libertarian in Massachussetts

"If ye love wealth greater than liberty, the tranquility of servitude better than the animating contest for freedom, go home and leave us in peace. We seek not your council nor your arms. Crouch down and lick the hand that feeds you, and may posterity forget that ye were our countrymen." - Samuel Adams
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Thursday, August 29, 2002

Oil in the Gulf. No, not that Gulf. Our Gulf. Up to now most wells off of Florida have been relatively shallow. Now that they are strting to go deeper what is being found is astonishing.

The Minerals Management Service calculates that from 5 trillion to 20 trillion cubic feet of undiscovered natural gas are in these deep deposits on the shelf, with the most likely figure 10.5 trillion cubic feet. The average size of a deep gas reservoir on the shelf is about 20 billion cubic feet, which means that all of an average reservoir would be eligible for the royalty suspension, which covers the first 20 billion.

< email | 8/29/2002 11:02:00 AM | link




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