Exxon and Russian Operation Discovers Oil Field Larger Than the Gulf of Mexico

An anonymous reader writes The state-run OAO Rosneft has discovered a vast pool of crude in the Kara Sea region of the Arctic Ocean, arguably bigger than the Gulf of Mexico. From the article: "The discovery sharpens the dispute between Russia and the U.S. over President Vladimir Putin’s actions in Ukraine. The well was drilled before the Oct. 10 deadline Exxon was granted by the U.S. government under sanctions barring American companies from working in Russia’s Arctic offshore. Rosneft and Exxon won’t be able to do more drilling, putting the exploration and development of the area on hold despite the find announced today."

Comments

Re:Initial estimates are always over blown

[140Mandak262Jamuna]

Correction: Not interpolation, just extrapolation. This estimate is based on the grand sample size of ONE. Just one well. Well, well, well, that is interesting. This posting has more wells than their sample size.

Good news!

[Lisias]

Now we can rest assured that our extinction will happen by the continuous burning of fossil fuels, not by the lack of it!