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Good news for gas prices in the future.....This discovery is being described as up to 50% of our reserve supplies....15 billion barrels.

Seven miles deep.....

The discovery also goes a long way to prove that oil and gas production is an ongoing natural process that occurs deep in the earth, that it is in fact not 'fossil' fuel, but renews itself continously.

Chevron just drilled it.....

How did you hear or read about this Keith?

Would you happen to have a link?

I think the work "proves" and "is" are too strong a statement there.  While there are unanswered questions, conventional wisdom and other strong evidence still points to fossil fuels as long-term production items that are not continously re-newed.  There may be large amounts of yet to be discovered quanities, but to say it is truly a renewable resource like oxygen or timber would require a large amount of new proof and goes beyond even acknowledging that abiogenic petroleum production occurs or has occured.  Maybe what you are saying is a possiblility, but to me it is a long shot.  But I wish it were true! (I think, what about global waring?)  Very interesting though.  I hope gas prices go down.

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Just flip on CNN or Fox news...also check Google news.

I just got back from checking the local news. They must have already covered the story. I'm gonna read the link posted above and maybe check the news channels in a bit.

I said it goes a long way to prove it, didn't say it was proof....seven miles down is quite deep for decaying organic matter to settle and eventually become oil....the counter theory to 'fossil' fuel is that oil is formed very deep in the earth:

http://www.enviroliteracy.org/article.php/1130.html

Majority opinion is that oil is being formed at less than 1% of the current consumption rate.  That's occording to Wilkipedia.

Kelly

Ok, but I'm thinking there is plenty down there if the continue to look deeper cause if the theory is correct, then that's where the oil will be.

it may add another piece of evidence, but I don't think it goes a long way to prove anything.  just my humble opinion.  and, I'm not sure that, even if abiogenic generation does occur that it can be considered truly renewable like timber or water.  hey, not trying to be a D-head, I just don't mind an argument, and I disagree here somewhat!  I took a course one time that changed my outlook on the words "proof" and "proves" and how misused they are in the media and others.  it is a pet peave of mine....sorry    :reddevil:

Yeah, that's that 'critical theory' crap....google up Frankfurt School and Theodor Adorno if you want to know about Critical Theory....Jesus, guy!....Be careful what you allow someone to pour into yer head!

http://en.wikipedia.org/wiki/Frankfurt_School

Gas prices are too inexpensive in this country as it is....I say, charge more and in return get less traffic, more car-pooling, better public transportation, less car related injuries, less drunk drivers, peope would get more exercise walking, and it goes on.  I listen to friends gripe that gas went up one-half cent a gallon the day before and I'm incredulous--

I can just see all the soccer moms screaming at that idea!

Let's see...let's call that 'social engineering thru price control'....Yep, that's a pretty accurate description.....Sorry, but that theory never has worked.....Do you think if they doubled the price of bullets fewer people would die of gunshot?...Nope, we might take better aim, tho.

The price of gas has already doubled and folks don't drive less....They would rather do without sex than their cars.

That is easy to say if the gas prices haven't put you in the poor house. I
personally am able to afford the increase, but my daughter is struggling.
She drives back and forth to college and work. At her age it is hard to
afford a car payment and insurance. She is 19 therefor her insurance is
very high. It is tough for kids now a days to venture out on there own. The
price of living is to high. She lives at home now just to get by.

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I agree with MJK, although I think prices would have to go VERY high to get much of a decrease in traffic and what-not.  But there would be many silver linings to go along with the high price of gas.  Decreased traffic just one of the many.  Maybe our govenrnment would get serious about making biking a viable option by investing in bettering the nations biking paths?  Americans and many people who live in northern and western Europe and other places enjoy such a high standard of living that when any small part of it is lost (like unrestrained use of our vehicles due to gas prices) we just feel lost!  I haven't fixed the A/C in my car for 2 years now just so I know what it feels like to not have.  I could get it fixed easily.  But, it feels so good sometimes not to have AC!  Even when it is 95 outside.  I know many of you will laugh at this just like my father does, but a few of you may know exactly what I am talking about.  People with 100 Million dollars who were living in the lap of luxury in the year 1900 probably didn't live much better than a middle-class person lives today, yet we still look at the rich people and sigh with envy.  It is all relative in many ways.  I think about these things when I hear someone groan about the high gas prices.  But although I have these thoughts, eventually I drone in with them and whine about the high gas prices....Why is that?

Yep, just like I figured by your avatar, you are a nuke in all ways  :wave:

Keith ya better move up here and help us farm The way I got it figured were gonna need about 60 teams... Thats one of the reasons hay is so high because of gas prices. Could you imagine feeding 120 work horses?

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No thank you. I'm already hauling hay for just two and it's a pain in the butt....Hey, at least I only have to cut the front now.

 A working horse takes a whole lot of hay and grain out the ying yang..And supplements.....And shots and a full time vet.  and a blacksmith shop...

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Yer tellin me?....I got two horses already, I know what it takes....It's all the crap a wife takes that is the burden!