Business

Massive Oil Deposit Discovered in Arctic Region

Massive Oil Deposit Discovered in Arctic Region

File photo: oil rig.

Norway’s Statoil said Monday it has discovered a large oil reserve in the Barents Sea, its second major oil find in the Arctic region in less than a year.

The state-controlled oil company said a well drilled in the Havis prospect in the Barents Sea proved both oil and gas at an estimated volume of between 200 million and 300 million barrels of recoverable oil equivalents.

Last April, Statoil said it had discovered between 150 million-250 million recoverable barrels of oil equivalents in the nearby Skrugard prospect.

The company has received a huge boost to its reserves in the past year. In August, it announced the biggest find in the Norwegian continental shelf in 30 years with a massive discovery of 500 million to 1.2 billion barrels of oil in the North Sea.

The company’s shares rose by 1.2 percent to 157.3 Norwegian kroner ($26.0) in early trading Monday.

The world’s seventh-largest oil exporter may slow a decade-long slump in production after recent success from the Arctic to the North Sea, including the world’s largest offshore find last year, according to Bloomberg.

“This means a lot to the Barents region,” Carl Christian Bachke, an analyst at RS Platou Markets in Oslo, told Bloomberg. “It will open up a lot of new activity in the area.”

Statoil has been exploring in the Barents Sea for more than 30 years and said the find proves that persistence and long-term thinking bear fruit.

“Havis is our second high impact oil discovery in the Barents Sea in nine months,” Statoil CEO Helge Lund said. “The discovery‘s volume and reservoir properties make it Skrugard’s twin. Skrugard and Havis open up a new petroleum province in the North.”

Statoil ASA is the operator of Havis and Skrugard, with an ownership share of 50 percent. The license partners are Eni Norge AS with 30 percent and Petoro AS with 20 percent.

“We are about to realize the Barents Sea as a core area on the Norwegian continental shelf,” said Erik Strand Tellefsen, Statoil’s vice president for the Skrugard development.

The Associated Press contributed to this report.

Comments (203)

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  • Jim in Houston
    Posted on January 10, 2012 at 9:30am

    Does the EPA know they are drilling in the wetlands?

    Report Post »  
    • Detroit paperboy
      Posted on January 10, 2012 at 9:58am

      With Obama’s Veto of the pipeline, not only can we not drill for oil….. Now we cant transport oil…. These enviroturds dont give a ratsass about the environment, this is a bunch of America hating socialists, trying to bring us to our knees, there is more oil than we could ever use on this planet….and new technology will be able to find more and more and more….

      Report Post »  
    • PA PATRIOT
      Posted on January 10, 2012 at 10:06am

      Dear Mr. President
      Continue to block the Keystone Pipeline project and see if you have a job on January 20th 2013.

      Report Post » PA PATRIOT  
    • Huckabee Gingrich 12
      Posted on January 10, 2012 at 10:33am

      Oil is NOT a “fossil fuel”, and scientists know it. There’s literally an ocean of oil beneath us, and it is self-replenishing. This has been proven.

      Report Post » Huckabee Gingrich 12  
    • CatB
      Posted on January 10, 2012 at 10:51am

      They are going to have to find a way to shut this down .. I have NO DOUBT that they are working on it right now.

      Report Post »  
    • ClunkerT
      Posted on January 10, 2012 at 11:01am

      I hope the Republicans are prepared to debate someone other than Obama. He will not be on the ballot in 2012. He is being challenged in all 50 states because he does NOT meet the Constitutional requirement to be a “natural born Citizen.” Because he doesn’t have a legitimate American Birth Record his next natural event was to acquire a fraudulent SS# and a fraudulent Selective Service registration. As these are all exposed over the next couple of months his poll numbers will sink way beyond what is electable and the Democrats will be forced to give him his walking papers.

      We will get that pipeline and the Oil and Natural Gas reserves that are being discovered in North Dakota and Eastern Montana are in the Billions of barrels. The economy will be booming in years to come just based upon the sale of this oil and the taxes collected on the profits and the money saved by every day Americans as the price of gasoline and deasle plunges to new lows enabling American to spend on other needed commodities. If you have a few extra bucks laying around buy into those small oil companies who have leased thousands of ND acres and are fracking their fool heads off at this very moment. If you want a job making great money head to those oil fields or open business that will cater to those hard working men and women..

      Report Post »  
    • tdbug58
      Posted on January 10, 2012 at 11:31am

      That was funny : )

      Report Post »  
    • Cymry
      Posted on January 10, 2012 at 11:34am

      @Clunkert
      Ye spake truer than ye knew my friend.

      Although the walking metaphor should be changed to “perp walk”. :)

      Report Post » Cymry  
    • Ruler4You
      Posted on January 10, 2012 at 11:41am

      … and the oil we do have is being refined here and the gasoline is being exported … as was reported last week.

      Report Post » Ruler4You  
    • marvlus
      Posted on January 10, 2012 at 11:49am

      Clunkert, I dislike Obama as President as much as you, but where is your source that he will not be on the ballot? I find this incredible, if not deceiving.

      Report Post »  
    • Aiccreative
      Posted on January 10, 2012 at 12:00pm

      Halliburton Water Injection – Secondary Recovery.
      Maintain the pressure in the reserve to float remaing deposits.
      Hundred of miny earthquakes in the oil fields. Halliburton has been doing this since the late 90′s
      http://www.halliburton.com/ps/default.aspx?navid=53&pageid=226&prodgrpid=PRG%3A%3AIU4J6L7OP

      Light sweet crude – Environmental factor, rare impermeable stone-cap-rock..
      There may have been ‘plenty of conditions’ for light sweet crude, the only problem is finding the bubble underneath an attractive and sizeable stone cap. The world has the very top % of these discovered as of the 80′s…thanks to Halliburton.
      http://en.wikipedia.org/wiki/Caprock

      Light sweet crude is the rule… and we miro-oil consumers are so bent, spent and looking forward to the shift to natural gas… the very next realm is just being seen on the horizon. We are human-beings not human-doers.

      Aiccreative  
    • Abigail Adams
      Posted on January 10, 2012 at 12:19pm

      @ Huckabee Gingrich 12 -
      Thank you for those two articles. Very interesting & informative!

      Report Post » Abigail Adams  
    • Silversmith
      Posted on January 10, 2012 at 12:30pm

      @Huckabee Gingrich 12 50 years old and this is the first time I have read anything about oil not being a fossil fuel!! And sustainable!! You would think this would be one of the first arguments levied against the green movement that is the root of so much political abuse.

      Thanks for the info! It begs more research for me.

      Silversmith

      Report Post » Silversmith  
    • PlowMan
      Posted on January 10, 2012 at 12:53pm

      HuckabeeGingrich12, you are correct. If people don’t want to click on his link just put “abiotic oil” in your search engine. I am not generally a conspiracy guy but it looks as if this idea is being dismissed out of hand. Go figure.

      Report Post » PlowMan  
    • TH30PH1LUS
      Posted on January 10, 2012 at 12:55pm

      1. I’d rather buy oil from Sven than Mohammed.
      2. Drill for American resources! We have our own oil.

      Report Post » TH30PH1LUS  
    • LookTowardsTheLight
      Posted on January 10, 2012 at 1:00pm

      I call DIBS!

      Report Post » LookTowardsTheLight  
    • mils
      Posted on January 10, 2012 at 1:06pm

      hahahaha thank you!

      Report Post »  
    • G.W. Dobbs
      Posted on January 10, 2012 at 2:25pm

      Didn’t Russia stake claim to the Artic Area under Sea and previously report OIL there?

      Report Post »  
    • rock-n-roll-rebel
      Posted on January 10, 2012 at 2:37pm

      That is the funniest thing I have read on here today Jim.

      Report Post » rock-n-roll-rebel  
    • kfrederic
      Posted on January 10, 2012 at 4:43pm

      We can be sure they won’t be dropping by here to read about it!

      Report Post » kfrederic  
    • Melvin Spittle
      Posted on January 10, 2012 at 4:47pm

      @Huckabee Gingrich 12

      This is amazing! I read the “THE NON-ORGANIC THEORY OF THE GENESIS OF PETROLEUM” paper by Samar Abbas, Dept. of Physics ,Utkal University and can honestly say that this theory is a serious challenge to the common held knowledge that oil is a fossil fuel. The theory that oil is a fossil fuel is in serious doubt in light of these studies and proofs.

      Report Post » Melvin Spittle  
    • Obama_a_biotch
      Posted on January 10, 2012 at 4:50pm

      Test

      Report Post » Obama_a_biotch  
    • Yeah_Buddy
      Posted on January 10, 2012 at 4:56pm

      WAIT! You mean oil isn’t derrived from dead dinosaurs? Hmmm…and all along I was led to believe there are only so many T-Rex remains. Boy do I feel silly now. What else could ‘they’ be lying about?

      Report Post »  
    • Russman
      Posted on January 10, 2012 at 6:23pm

      @Huckabee Gingrich. Back in 1980 I was rearching homework about fossil fuels and stumbled across an article about this subject in a science journal (I wish I could remember which one..) regarding oil on the surface in scandinavia that appeared to be coming thru a layer of rock that was too old to have oil under it. The rock had been broken by a meteor strike long ago. The scientist was certain that if the oil was below the rock layer, it could not possibly be biological and must therefore be geological. I was amazed and have never forgotten the article

      Report Post » Russman  
    • teamarcheson
      Posted on January 10, 2012 at 6:58pm

      This is why Russia has claimed ownership of everything in the Arctic. Putin claims Russia did not surrender mineral rights when they sold Alaska to America. The Russians have already planted Russian flags on the bottom of the Arctic Ocean. Obama may have surrendered all our rights to Russia in the secret talks he had with Putin.

      Report Post »  
    • SamIamTwo
      Posted on January 10, 2012 at 8:44pm

      Obama sent our foating oil drilling machinery down to Brazil and Soros mad out like a bandit.

      They are hammering out a new world…

      Report Post » SamIamTwo  
    • Cornflake
      Posted on January 11, 2012 at 11:50am

      They are thrilled to have discovered this. I saw this on a program months ago! But, sadly, as you point out I’m sure Obama and the EPA will run to the UN to preserve the wetlands! Meanwhile, I don’t undersand the price of oil falling, yet the price at the pumps went up 30 cents! Too bad for Obama that gas is going to cost 5.00 or more a gallon at election time. People are not going to be happy, and they are going to be broke again! No taxes for you D.C.

      Report Post »  
  • rabblechat
    Posted on January 10, 2012 at 9:11am

    That is great news, 300 million barrels is enough to fuel the United States for two whole weeks! Put that together with the oil they found last year and we can run for almost a month…

    Report Post » rabblechat  
    • BetterDays
      Posted on January 10, 2012 at 9:40am

      Yea, and when the wind blows over sixty miles an hour the propellers fly off your wind farms and impale spotted owls, man.
      Then well be left depending on rainbows and unicorns to power our refrigerators, and the far left has a monopoly on these power sources. Oh, I get it!, unbridled unicorn and rainbow capitalistic greed !

      Report Post »  
    • rabblechat
      Posted on January 10, 2012 at 10:01am

      I never said anything about wind power, or unicorns for that matter. I don‘t know what the next step is but I do know that wishful thinking isn’t going to put more oil in the ground.

      The sooner we come to terms with the fact Oil is a Finite resource, the sooner we can figure out what the next generation of Americans will use as a fuel source.
      We can use oil production in our own country as an example, at one time we were the Saudi Arabia of the world, but in 1970 the U.S. produced the most oil it will ever produce.
      Try as we may, we have yet to surpass that peak some 40 years ago.
      And its not just the president, lets remember we had 8 years of Reagan, and 12 years of Bush 1& 2.
      If it was simply a matter of having an Oil Friendly president we surely would have surpassed the 1970 peak under Reagan or Bush II who by all accounts is an Oil man.

      Report Post » rabblechat  
    • Wolf
      Posted on January 10, 2012 at 10:30am

      “…I don‘t know what the next step is but I do know that wishful thinking isn’t going to put more oil in the ground…”
      It also isn’t going to generate any wind energy, solar energy, or make greenmobiles any more efficient, nor will it employ one more person.
      You didn’t make your statement conerning alternative energy, but it’s implied in your sarcasm.

      Report Post »  
    • Ookspay
      Posted on January 10, 2012 at 10:32am

      Rabblechat, This is a serious question. How do you know that oil is a finite resource? There are scientists who believe that the earth makes more of it on a continual basis. Between oil, coal and natural gas, we are set for hundreds of years. By then, I am sure all of the brilliant minds spawned by liberal academia will have solved the problem.

      The theory of man made global warming is a deeply flawed. But in case the earth is warming, perhaps a few well placed nuclear bombs can bring on a little nuclear winter to offset the heat.

      Report Post » Ookspay  
    • OneTermPresident
      Posted on January 10, 2012 at 10:42am

      @RABBLECHAT

      Obama on energy in 2008

      American families continue to suffer because Washington clings to a false reality. “We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times…and then just expect that other countries are going to say okay,” declared candidate Barack Obama in 2008. Sitting in the Oval Office in 2010, President Obama lectured the American people that, “We consume more than 20 percent of the world’s oil, but have less than 2 percent of the world’s oil reserves.”

      The Truth… The report “North American Energy Inventory” by the Institute for Energy Research corrects that flawed premise and gives the facts about our vast energy resources and the job creation that would follow if Washington would get out of the way.
      The quantity of known energy resources that can be produced using technology already at our disposal is nothing short of mind-boggling. For example, 1.79 trillion barrels of oil is enough to fuel every passenger car in the United States for 30 years. It’s also nearly double that of all the OPEC nations’ proven oil reserves combined.
      Thanks to new advances in drilling technology, North America has at least 4.244 quadrillion cubic feet of recoverable natural gas resources. To put that figure in perspective, it’s sufficient to fuel homes heated with natural gas in the United States for the next 857 years, and enough to provide the United States with electricity for 575 years at curr

      Report Post » OneTermPresident  
    • justneedaname
      Posted on January 10, 2012 at 10:45am

      Yeah, it’s probably better if we just ignore the find. Shouldn’t bother with anything less than a few billions barrels.

      Report Post »  
    • americanfirst
      Posted on January 10, 2012 at 11:33am

      Rabble – you need to look up the theory of abiotic oil. It proposes the oil is not a finite source. Very worthwhile!

      Report Post »  
    • Mark-OH
      Posted on January 10, 2012 at 2:41pm

      Rabble, I’m with you. The math is apparent, the world consumes 80 million barrels of oil a day or more, this find is important but a drop in the bucket.

      All you abiotic folks, True or not, we are still using the stuff faster than the earth is creating it since the decline in oil is apparent at locations around the globe.

      Natural Gas can fill the gap but the entire consumer car fleet will have to convert. That will take a decade alone. Simultanously, all the distribution and pumping infrasructure will convert as well. This will happend eventually due to pressure on oil but unfortunatly, as is evident by this board, no one is forward thinking, even the “rugged individulists” in the conservative ranks!

      All, look at the data, I’m not a greenie but the age of CHEAP oil is over coupled with rising demand in India and China, the ramifications will be far reaching and as significant impact on my kids as is the debt we are racking up.

      Report Post »  
    • rabblechat
      Posted on January 10, 2012 at 3:52pm

      OOKSPAY & AMERICA FIRST- I have read about Abiotic Oil, As of now it is an unproven theory. Can you site any field that have “regenerated” to to Abiotic processes? I’m willing to bet if you when back to Titusville, and re-bored the first American Oil well that gushed black gold 150 some years ago, you would be sorely disappointed with abiotic oil.
      Trust me, yesterday when I filled my truck up for nearly $100.00 I wished Oil was infinite but as I said before, wishful thinking does not put oil in the ground. I do not doubt that in some point in the earths future more petroleum will be created. However If it only happens every few million years it is for all practice purposes finite.
      Don’t listen to me or those on the left or right, do your own research, look into the rise and decline of oil production in the U.S., Mexico, North sea, Iran etc.
      Even Saudi Arabia, with its massive fields is using more and more artificial lift and water injection to counter declining pressure and output in their fields. If it was so abundant why would they spend so much on these added costs? Why are the big oil companies drilling miles below the ocean surface? why are they processing tar sands and oil shale if we still have lots of easy to get liquid oil?
      We need to look for the next fuel source while we still have oil and gas to help us through the transition.

      Report Post » rabblechat  
    • Therightsofbilly
      Posted on January 10, 2012 at 8:20pm

      Lyrics: (Tower of Power – 1975) Great band, but even that long ago, the agenda was being pushed.

      There’s only so much oil in the ground
      Sooner or later there won’t be none around
      Alternate sources of power must be found
      Cause there’s only so much oil in the ground

      There’s only so much oil in the earth
      It’s a fact of life – for what it’s worth
      Something every little boy and girl should know since birth
      That there’s only so much oil in the ground

      There’s no excuse for our abuse
      No excuse for our abuse
      We just assume that we will not
      Exceed the oil supply
      But soon enough the world will watch the wells run dry.

      37 years later, still pumping. Plenty left.

      Still a great song if you want to hear it.

      http://www.youtube.com/watch?v=7LjrCV4Gnxw&feature=player_embedded#!

      Report Post » Therightsofbilly  
    • ClunkerT
      Posted on January 11, 2012 at 10:10am

      @ Rabblechat. You are in for a rude awakening. How long have we been drilling and using the OPEC oil? No one is predicting them running out any time soon. We haven’t even begun to tap into the BILLIONS of barrels of oil available each of the following places: off our shores, in the Gulf of Mexico, Alaska, and right now HUGE deposits in ND, SD, Montana, Colorado. We skimmed the OIL of the top in Texas decades ago and now we are back there going for the DEEPER reserves and these are massive. We may have tapped into about 10% of the OIL on shore and off shore in Alaska. This is OIL and not counting our Natural Gas reserves. Canada is OIL rich and has just begun to tap into their HUGE reserves. We (you and me and your grandchildren and their children and their grandchildren) will never see our OIL RESERVES used up.

      Report Post »  
    • gofigureinternational
      Posted on January 11, 2012 at 2:23pm

      For those that say India and China are simply using more of the supply, I would love to know how you explain OPEC’s reduction in supply every time that the price begins to slip. It is an artificial market. One primary reason that many of the companies love the fact that the U.S. is not exploiting its resources, which would likely bring more market forces into play. We should be drilling in as many locations as we can safely. But instead, our environmentalists keep the U.S. stifled while China drills in the Gulf and the POS vetoes the pipeline to supply us from the North. What happens if all hxll breaks loose in the Middle East and we find ourselves in a legitimate conflict with a United Middle East? Venezuela is not an option with the Chavez-Iran friendship. Russia is not exactly our best friend and helped Iran with their reactor among other things. That leaves few sources with a checkbook that is 15 Trillion overdrawn! Shortsightedness at best and the alternative is much darker.

      Report Post »  
  • bayoucastine
    Posted on January 10, 2012 at 8:48am

    And we, the USA, are EXPORTING gasoline!! Why? [Other than to keep the price high and more money for the OPEC.]

    Report Post » bayoucastine  
    • CatB
      Posted on January 10, 2012 at 10:57am

      Doesn’t help that we are adding NONE SUBSIDIZED (finally!) Corn in our gas tank! Time to stop putting this EXPENSIVE filler in our gas and engines.

      Report Post »  
    • Evil_Conservative
      Posted on January 10, 2012 at 11:07am

      LMFAO! Exporting gas keeps the price up!!! OMG! Ignorance on display!! more supply drives price DOWN!!

      Report Post » Evil_Conservative  
    • SgtB
      Posted on January 10, 2012 at 3:45pm

      @ Evil Conservative. You lack the sense to know that exporting goods that you also consume is not a sign of surplus. If 100% of our oil was from the US, it would be surplus. But it isn’t. What is happening is that we are taking our own oil, refining it, and selling it elsewhere WHILE buying crude oil and refined petroleum product from Canada, OPEC, and elsewhere. The act of transporting our oil elsewhere while importing oil to meet demand only causes waste.

      Can you refute my claims? Doubt it.

      Report Post » SgtB  
    • mamatango
      Posted on January 10, 2012 at 11:48pm

      Everyone should read “THE ENERGY NON CRISIS” BY Lindsey Williams. His videos are also on You Tube. America is awash with our own oil fields, but the Powers That Be refuse to allow us to drill for our own oil. If they did, we would be paying 60 cents a gallon for gasoline right now!!!

      Report Post »  
  • Ponyexpress
    Posted on January 10, 2012 at 8:46am

    Peak Oil my A*S

    Report Post » Ponyexpress  
    • rabblechat
      Posted on January 10, 2012 at 9:30am

      Do you realize how small of a field this is? If we are not at or near peak why are they looking at shale and tar sand? Wouldn’t it make more since to continue using liquid Petroleum which is drastically easier to recover and process? Set aside your preconceived notions about Oil, and take an afternoon to look at world wide oil production, consumption and most importantly new discovery rates.
      If you set aside emotion and look at the numbers you can come to no other conclusion than our rate of demand is out stripping our ability to produce.
      We haven’t found a field with the equivalent of more than a few days worth of oil in it for years. If our oil consumption is to continue growing with the economy and population we have to continue finding knew fields that in sum exceed our current use. Again, if we had an abundance of “easy” oil they wouldn’t be looking in the Arctic, 3 miles below the ocean or in shale.

      Report Post » rabblechat  
    • Warpath
      Posted on January 10, 2012 at 1:18pm

      I’d agree with you Rabble, but the fact is they wouldn’t be looking in the Arctic if the EPA would let them look elsewhere. The EPA forced BP offshore, and then blamed them for the oil spill in the gulf. Drilling closer to shore is much easier than deep shore drilling.

      Report Post »  
    • rabblechat
      Posted on January 10, 2012 at 4:03pm

      Warpath- Our idiotic EPA regulations do not explain why every other oil producing nation on the face of the earth is going further and deeper to find oil. Most of these are state sponsored producers with the full support of their governments. The rig at the heart of this very article is not under the jurisdiction of our EPA yet they are exploring for Oil in the Artic. Why are they in one of the most inhospitable places on earth if oil is so easy to get?

      I agree that as we move forward we will need to access all of our resources, polar bears be damned, If you ask me I think our government may be right by sitting on some our our last reserves while the rest of the world use theirs up.

      Report Post » rabblechat  
  • IMPEACHBHO
    Posted on January 10, 2012 at 8:45am

    We have oil, BHO won’t let us drill for it.
    http://youtu.be/7kqVZUCRth0?t=17m40s

    Report Post » IMPEACHBHO  
  • JP16
    Posted on January 10, 2012 at 8:29am

    Good news for Europe, and bad news for those Middle Eastern countries relying on European demand for their oil.

    Report Post »  
    • TomFerrari
      Posted on January 10, 2012 at 8:43am

      Wow, wouldn’t it be COOL to live in a country where people are FREE ?
      Where you can exploit natural resources?
      Where the extremely vocal, extreme radicals, cannot take away your freedom and liberty with a donation, or even with a vote?
      Imagine, what if we lived in a country where those freedoms were SO valued and protected, that NOBODY could take them away, no matter how many of them there were, or how vocal they were, no matter what, it would be IMPOSSIBLE for ANYONE to use the power of LAW to take away your rights…

      Wow, now that would be a GREAT place to live!

      “To be [FREE] would be a great adventure.” – Peter Pan LOL

      Report Post » TomFerrari  
    • Bonnieblue2A
      Posted on January 10, 2012 at 4:50pm

      Seriously, the best way for the civilized nations of the world to shut down Iran is to stop buying her oil. It could be done by choice instead of by embargo.

      Report Post »  
    • Chuck Stein
      Posted on January 10, 2012 at 6:03pm

      Good news for US would be deployment of Liquid Flouride Thorium Reactors (we had one operating in the 1960s). Check out energyfromthorium.com for more info. Basically, it would give us cheap, clean, and safe energy. Guess who is working on what we developed in the 1960s? Yup, its China! Grrrrrrrr

      Report Post »  
  • c0mm0nsense
    Posted on January 10, 2012 at 8:24am

    Just think if The United States when to War on developing all of our natural resources . We could crush Iran without a shot being fired.

    What we need is A PRO-ENERGY PRESIDENT
    As President, Ron Paul will lead the fight to:
    * Remove restrictions on drilling, so companies can tap into the vast amount of oil we have here at home.
    * Repeal the federal tax on gasoline. Eliminating the federal gas tax would result in an 18 cents savings per gallon for American consumers.
    * Lift government roadblocks to the use of coal and nuclear power.
    * Eliminate the ineffective EPA. Polluters should answer directly to property owners in court for the damages they create – not to Washington.
    * Make tax credits available for the purchase and production of alternative fuel technologies.

    Report Post » c0mm0nsense  
    • escape_from_socialism
      Posted on January 10, 2012 at 8:42am

      Second that.
      More jobs here, our soldiers live lost – 0.

      Report Post »  
    • str8blues
      Posted on January 10, 2012 at 9:55am

      Ron Paul won’t get the chance. Perhaps Fed Chairman.

      Report Post »  
    • Ookspay
      Posted on January 10, 2012 at 11:07am

      Ron Paul, Fed Chairman? Doubtful, the Fed provides a list of candidates to the POTUS, who get’s to pick from their approved list. Dr Paul is not one of their faves.

      Romney should announce he will appoint Paul as Treasury Secretary, maybe keep the Paulbots from going third party, write in craziness.

      Report Post » Ookspay  
    • Evil_Conservative
      Posted on January 10, 2012 at 11:19am

      As has been said ad nauseam: Ron Paul has great domestic/economic policy, however our squabble in the mid-east is not because we get oil from there. It is because their wack-job “religion of peace” spawns our enemies by the legion. These countries get their money to buy weapons from oil, yes. But, there will still be strong global demand for oil even with a doubled supply. Hence they will still buy weapons. Therefore, Iran et al will be plotting our destruction for many years to come. Translation? Ron Paul is a naïve old man.

      Report Post » Evil_Conservative  
    • recoveringneocon
      Posted on January 10, 2012 at 12:42pm

      Final Proof “Ron Paul knows nothing about foreign policy”

      http://americanvisionnews.com/1052/ron-paul-knows-nothing-about-foreign-policy-video
      If you have a

      Report Post » recoveringneocon  
  • Snowleopard {gallery of cat folks}
    Posted on January 10, 2012 at 8:13am

    Do not worry Obama the insane narccisists of the White House will make sure China and Russia are the main benefactors. Sarcasm is directed at the White House.

    Report Post » Snowleopard {gallery of cat folks}  
    • crackerone
      Posted on January 10, 2012 at 11:00am

      Sarcasm noted!

      Expect a call for someone at Homeland Security!

      Report Post »  
  • Al Gored
    Posted on January 10, 2012 at 8:10am

    Goody,

    My Volt will have more electric power.

    V.i.P. Gore

    Report Post »  
  • NewLife56
    Posted on January 10, 2012 at 8:02am

    Well, this would be good news except that this Administration and the Greenies won’t allow us to drill for it, and then of course the rest of the world will get it

    Report Post » NewLife56  
    • Sol Invictus
      Posted on January 10, 2012 at 8:45am

      This is a Norwegian oil field – why would they let US companies drill for it? What are you talking about?

      Report Post » Sol Invictus  
  • jnobfan
    Posted on January 10, 2012 at 8:01am

    This is very good news for Europe especially if there is Natural Gas as well. The Euros are between a rock and a hard place Russia and the Muslims when it comes to energy. Pretty obvious that there are oceans of oil under the earth still waiting to be tapped. Russia is so big and unexplored that there could be thousands of years of oil underground. FYI Jimmy Carter – there is no shortage of oil sir or the crooked world politicians that let it drip out to control the prices.

    Report Post »  
  • Rodeoamy
    Posted on January 10, 2012 at 7:57am

    Statoil’s on a roll!

    Report Post » Rodeoamy  
  • Athinkerinaseaoflibs
    Posted on January 10, 2012 at 7:57am

    When we drill the oil price will drop like a rock. Simply supply and demand. The prices is being controlled at the tipping point. Once another player come to the table, OPEC will see dollar signs slipping through their fingers. This will result in alot of good things.
    1. A more dosil Middle East
    2. A de-horned Venezuela
    3. Complete rebound in the economy
    4. Some wealthy americans
    5. Few poor americans

    The list could go on and on. Earlier story had the EPA and the Greenies taking a good gut shot from the supremes, lets go for the jugular–NOW!

    Report Post »  
    • Iwant sprinkles
      Posted on January 10, 2012 at 8:17am

      Bingo !!!!

      Report Post »  
    • rabblechat
      Posted on January 10, 2012 at 3:55pm

      unfortunately with Oil and gas demand does not increase the supply, we have been endowed with a certain amount. No amount of clamoring for more will actually increase the amount of Oil in the ground.
      We may improve our ability to recover what is there, but demand will not create a single drop more.

      Report Post » rabblechat  
  • SpankDaMonkey
    Posted on January 10, 2012 at 7:55am

    .
    Massive Oil Deposit Discovered in Arctic Region, they had to find something to counter act the Huge, Massive, Giant S*** Stain left by Les Miles in New Orleans…………..

    Les damn near eclipsed the S*** Stain left by Obama………….

    Report Post » SpankDaMonkey  
  • itsmyfirstday
    Posted on January 10, 2012 at 7:54am

    Don’t get to excited…..this administration will make sure China gets there first…

    Report Post » itsmyfirstday  
  • cloudsofwar
    Posted on January 10, 2012 at 7:50am

    Obama is calling a meeting with his czars to discuss how he can stop the norwegians from drilling in the artic. more oil from anybody is not on his agenda. more oil could lead to lower prices and lower our cost of living. he wants higher prices to lead to civil disorder to impower the OWS mobs. the OWS mobs will get him reelected by convencing the sheepels it’s the evil rich (republicans) wanting more profit. just kidding about the meeting.

    Report Post »  
  • grannyrecipe
    Posted on January 10, 2012 at 7:49am

    Good, this should put some pressure on the bulls. BTW, GONZO, I gotta feel for ya man. I wasn’t rooting for either team last night but, damn, that defense Ala. brought was unreal!

    Report Post » grannyrecipe  
  • Darla_K
    Posted on January 10, 2012 at 7:49am

    I like to see smart people using their resources. We need a leader that will get the ball rolling here so we can start drilling for oil and not have to be dependent on other countries. It is a slap in our faces to give money to Brazil for their oil expedition and throw us under the bus and waste all our wonderful resources that we could and should be using. We need a leader with common sense values, that cares about the people and our future. Drill baby drill!

    Report Post » Darla_K  
  • Ironmaan
    Posted on January 10, 2012 at 7:42am

    Oil, oil everywhere and not a drop to burn… thanks to the greens.
    http://guerillatics.com

    Report Post »  
  • MR_ANDERSON
    Posted on January 10, 2012 at 7:41am

    I say the US should not go against its morals and values when determining what this country should do. That being said, drilling for oil has never been against our morals or values.

    Drill baby drill. Cheap energy will lead to the next leap in the energy revolution. It is already out there, lets make it commercial.

    Report Post »  
  • screw
    Posted on January 10, 2012 at 7:35am

    Oil, oil everywhere.
    If only it were green.

    Report Post » screw  
  • cassandra
    Posted on January 10, 2012 at 7:34am

    Get rid of obama and drill here in the US so we can tell opec to go to $%#@

    Report Post »  
    • Bill Rowland
      Posted on January 10, 2012 at 8:36am

      Drill in the US, drill in the arctic, build the pipeines to carry it to the refineries. If Obumbler wasn”t catering to the greens and trying to keep his promise to necessarily double our electric prices and his unstated goal of doubling our fuel prices.
      We live in an area thay supports the drillers in the gulf. Supply boats, crew boats, transport barges, all depend on the oil industry for work Obumbler has destroyed jobs in TX and LA. We have skilled personnel who are not working because of EPA and Obumblers restrictions.
      We must drill or we won’t have an economy.

      OMG
      .

      Report Post »  
    • jay1975
      Posted on January 10, 2012 at 2:05pm

      Drilling here just means that the oil companies would sell more of our oil overseas. Prices may drop a bit, but as oil is a world commodity, there is no reason for any oil company to sell only to US to bring our prices down. Unfortunately, it seems that the government would have to take over as many other nations have been doing, to ensure that we get to keep our own oil. I don’t like that option, but we may have to face that reality someday. I like to believe that the reason we don’t allow to drill at home is so that we will be the last nation running when the rest of the world runs out.

      Report Post »  
  • Baddoggy
    Posted on January 10, 2012 at 7:24am

    We don’t need it. We have enough oil here in the USA if we could only drill it. End the EPA and lets see what happens. We could tell the Saudis to shove their oil where the sun don’t shine.

    Ron Paul 2012 to return to FREEDOM and LIBERTY!

    Report Post » Baddoggy  
    • TelepromoterNChief
      Posted on January 10, 2012 at 7:35am

      Ron Paul is a limp old man.

      Report Post »  
    • Baddoggy
      Posted on January 10, 2012 at 7:38am

      So am I…so what? I would rather be an old man than a fool…

      Report Post » Baddoggy  
    • ScreaminEagle
      Posted on January 10, 2012 at 9:58am

      Is there anywhere on earth I can find a place where I won”t have a Paulie in my face? Get out of your mothers’s basement and find a job!

      Report Post » ScreaminEagle  
    • MEDICINE TO THE DEAD
      Posted on January 10, 2012 at 10:21am

      @ScreaminEagle

      I second that! Damn Ron Paul and damn that old constitution too.

      Report Post » MEDICINE TO THE DEAD  
    • Baddoggy
      Posted on January 10, 2012 at 11:32am

      Yea!! lets tear up the Constitution as soon as Obama stops wiping his a@@ with it!

      Ron Paul 2012
      Get over yourself RINOs!

      Report Post » Baddoggy  
  • ThePostman
    Posted on January 10, 2012 at 7:24am

    Most drillships being built now are “acrtic-class”. They aren’t going to the arctic for now, but they sure as hell are not being commissioned for US waters, either.

    Report Post »  
  • Gonzo
    Posted on January 10, 2012 at 7:22am

    You better stop them Obama! It might cut into the Muslim’s profits.

    Report Post » Gonzo  
    • SpankDaMonkey
      Posted on January 10, 2012 at 7:51am

      .
      Gonzo, now do you see why some of us, can’t stand Les Miles………

      I’m glad he screwed himself for $5.6million…..That’s how much his pay raise would have been if he won……..

      Report Post » SpankDaMonkey  
    • Gonzo
      Posted on January 10, 2012 at 8:02am

      It wasn‘t Mile’s, Bama was just better last night. If I was you, I would be pissed you had to play a team you already beat! Since the series was even this year, they should be co national champs. LSU was doomed the day this avatar went up, be careful what you wish for…evil laugh.

      Report Post » Gonzo  
    • godhatesacoward
      Posted on January 10, 2012 at 9:04pm

      Roll Tide!!!!!

      Report Post » godhatesacoward  
  • sWampy
    Posted on January 10, 2012 at 2:31pm

    Fine you first, cut off your junk, so you can’t reproduce.

    Report Post »  
  • Therightsofbilly
    Posted on January 11, 2012 at 12:55am

    Bs

    Report Post » Therightsofbilly  
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