BP makes huge oil discovery in the Gulf of Mexico, but…

October 28, 2009 · Posted in Commentary 

Last month, BP announced an oil discovery at the Tiber Prospect in the Gulf of Mexico which may contain more than 3 billion barrels.  Don’t open the champagne just yet!  Although this recent find is a lot of oil, let’s put things in perspective.  According to the CIA World Factbook, the United States consumes about 20.7 million barrels per day.  At that rate of consumption, the oil at the Tiber Prospect is roughly a 145 day supply for the United States.

Huge discoveries like the Tiber Prospect in the Gulf of Mexico simply don’t happen every day.

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