2003 Report
According to MMS’ 2000 resource assessment of conventionally recoverable hydrocarbons in the Gulf, 65 billion barrels of oil equivalent total reserves have been produced, but 71 billion barrels of oil equivalent remain.
According to the MMS the undiscovered resource assessment is approximately:
For the western Gulf of Mexico, 37 billion barrels of oil equivalent.
For the central Gulf, over 92 billion BOE.
For the eastern Gulf, about nine billion BOE."Of course, our resources estimates are likely to be revised upwards due to new discoveries in entirely new geologic frontiers such as deep gas targets on the shelf," Oynes said.
History and quotes from: http://www.aapg.org/...
The Math:
71 + 37+ 92+ 9 = 209 Billion Barrels of Oil Remain in the Gulf
@ $60 Average/Barrel =
$12.5 Trillion Reasons to Continue Drilling in the Gulf of Mexico
continued at Daily Kos...
