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Location: St. Louis, Missouri, United States

Friday, August 26, 2011

Massive Oil Field Discovered in Gulf of Mexico, Finding Kept Secret

Timothy Birdnow

This from The Week that Was, the SEPP newsletter:

One of the more unusual stories is that Exxon and its partner, Norway's StatoilASA found a massive oil field in the Gulf of Mexico and kept the extent of the find secret. When Exxon applied for extensions of leases for the field, the Interior Department of the Obama administration turned them down. Now all parties are headed to court. The extent of the find further indicates the damage to the economy from the administration's policy of slowing down the development of oil fields and the departure of drilling rigs to friendlier, foreign waters.

What is especially inconsistent about the administration is that it has signed a deal with Brazil to help its development of deepwater wells. No doubt some of the new wells will be drilled by rigs that left the Gulf of Mexico in response to the administration's policy. Please see Articles # 1 & 2 and referenced articles under "Oil Spills & Consequences", and "Energy Issues."

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