New oil field is a joke
 

I've been trying to stay off the political boards because all I do on here is bash Bush but he is at his best again.

I'm sure you've all heard about the newly discovered oil well in the Gulf. It's estimated to have about 50% of the oil we import each year. Meaning that we could cut off all imports from the Middle-east and still be getting the same amount oil to our refineries. I'm not saying we should do that, I'm just putting into perspective how much oil could possibly be down there.

It'll actually take us 2 years to drill into the well and be able to start extracting the oil because it's so deep. Unfortunatly, Bush owns all that stock in Texaco and guess who DIDN"T find the oil... yea. Because Bush is the big, bad, head-honcho he is, he's said that we aren't going to drill there so now we'll have to wait until 2010 until we'll see any of that oil in the U.S. This means gas won't start going down again until then unless there is some type of miracle and Texaco finds another large oil field. Highly unlikely if you ask me.

*Afterthought*

Many people think this is the reason that gas is dropping... it's not. Because we can't tap into it until atleast 2010, we won't see a change in price because of it until then. I'm not sure exactly why gas is so much cheaper now. The national average is still somewhere around $2.70 but everywhere around here is $2.20 and I haven't seen anyone any higher than $2.30. I expected gas to go up for Labor Day and it just kept going down.