Posted by Sourgum on June 11, 2014 at 16:48:39 from (32.177.255.215):
In Reply to: Petroleum question posted by wile E on June 11, 2014 at 12:41:01:
Geologists have known for sometime there are massive petroleum reserves below the Gulf of Mexico. Could be wrong but don't think any company is going after those reserves at present. Why. Well,they are located 7000 ft down in the Gulf. Is it feasible to drill for those reserves that deep when gas is 3.89/gallon. Or 4.89/gallon. Or 5.89/gallon. As energy gets more expensive we seem to be able to put more petroleum on the market. The other reason those reserves are not tapped into ,don't think any drill permits are being issued for the Gulf at present.
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