oil discoveries fall to 20 year low, page-3

Hi all,

Just to put something we may have missed into some meaningful perspective....

A "giant" field = 500+mmbbls.

Wow! Humoungous! Stupendous! Amazing! Awesome! Eureka! Yee Ha!!

But pssst...... hate you shock you.... but...

its only less than SIX days global consumption. Quite meaningless in the scheme of things.

But none at all discovered anywhere in the world last year? That a big Woops.

I think we need some of the following: 1) a new category to define a meaningful discovery and/or 2) those punters/economists/politicians/gurus with $50 put options to admit inevitable defeat and/or 3) Gulf oil countries to stop pissing themselves with our western reaction.

But hey; a new oil province...that's something that is very, very rare. It'll be noticed from all corners.


That's why we're in FAR.

Cheers.