U.S. oil and gas reserves could grow by more than 50 percent as three companies said Tuesday that results from a deep-water exploratory drilling project in the Gulf of Mexico indicate a significant oil discovery.What makes this news even more interesting is another story on the discovery:
Chevron Corp. estimated the 300-square-mile region where its test well sits could hold between 3 billion and 15 billion barrels of oil and natural gas liquids.
Analysts are calling it the most significant domestic discovery since Alaska's Prudhoe Bay more than a generation ago. [BRAD FOSS AP Business Writer]
In "Black Gold Stranglehold," Corsi and Smith argued the theory developed in the Soviet Union in the 1950s by Prof. Nikolai Kudryavtsev that oil is a deep-earth, abiotic product. The theory, the authors wrote, "rejected the contention that oil was formed from the remains of ancient plant and animal life that died millions of years ago. According to Kudryavtsev, oil had nothing to do with the unproved concept of a boggy primeval forest rotting into petroleum. The Soviet scientist ridiculed the idea that an ancient primeval morass of plant and animal remains was covered by sedimentary deposits over millions of years, compressed by millions of more years of heat and pressure."If this newly discovered field pans out and abiotic theory holds, and as a result, America can service its own energy needs, what a great turn of events for us.
Instead, the abiotic theory argued "oil should be seen as a primordial material that the earth forms and exudes on a continual basis."
Corsi and Smith directly challenge the "peak oil" theory advanced in 1956 by Shell Oil's M. King Hubbert.
In an interview with WND, Smith posed the following question: "If U.S. proven oil reserves can be increased by 50 percent with one deep-earth oil find in the Gulf of Mexico, who knows how much oil might be found as the technology of deep-water drilling advances and becomes even more economically feasible?"
In "Black Gold Stranglehold," Corsi and Smith note the importance of the abiotic theory:The thought that oil might be naturally produced on a regular basis, that oil itself might be a renewable resource, is very threatening to those who have invested their minds into believing that oil is fossil fuel. The logical consequence of the fossil fuel theory of oil has always been that we will run out of oil. After all, there could only be a finite number of ancient forests available to rot into oil. Ancient forests, even if once plentiful, are a finite resource that by definition will become exhausted after they are fully explored and their oil harvested. The logic of the fossil fuel theory is that inevitably we will run out of oil.Corsi and Smith note the power of the abiotic theory: "Could it be that oil is abundant, nearly an inexhaustible resource, if only we drill deep enough?" [WorldNetDaily.com]
Three cheers for science and exploration!