BP’s Big Oil Find: What It Means for Your Wallet

I worked the oilfield for 20 yrs. BP cheveron all of them. A big find means nothing to the consumer. All that oil is placed in reserves. They don’t even act on big find for sometimes decades. They drill and cap it off and move on. That is why Deepwater Hirizon happened with BP. They allow so much time and money for a well. When they get behind they cut corners. Like pulling the drilling mud from the well before the cement plug had a chance to cure. Some people may have forgot what BP did. The people of Louisiana will never forget.

What none of these articles fail to mention is not all oil is the same. In tbe US, the oil produced us WTI crude from which we use about 1/2 of what is produced, the rest is exported. The rest of the oil is all imported because in order to make gasoline and other oil based products, needs to be imported. Different types and grades must be blended.

once your a billionaire how much more money can you possibly need, its so ugly how evil money really is. its the root of all evil and thats a fact!

higher prices for gas

Oil is plentiful everywhere and we wouldn't run out for thousands of years.

unless you can reduce the costs of getting it from the ground to the pump don't get your hopes up

So what does that have to do with consumers using it. Absolutely nothing. Years ago when oil started going up the news only wanted talk about OJ Simpson not news about what was happening to consumers. You see now the News talking about tariffs that have not gone into effect and prices on the rise already. Inflation has started because of the news. Not tariffs.

until we stop windfall profits and start taxing on the oil company's profits we will not see lower cost oil

So the conclusion of the writer is BP found more oil, so carpool more often. Hmm, makes perfect sense.

Two reasons it would spike greedy companies are left pushing for green energy it’s all BS