Energy Expert Ballentine: Promise of Florida’s Offshore Oil is Exaggerated
Original article –
“The recent hype concerning offshore oil and gas drilling in Florida falls into the category of “Much ado about almost nothing.” The US Minerals Management Service estimates that the Eastern Planning Area of the Gulf contained only 1 million barrels of crude oil, which isn’t even enough to supply the US for one hour. Let’s stop pipe dreaming about vast quantities of oil and gas off Florida and, instead, begin serious preparation for an inevitable paradigm change as the world’s oil production begins its inexorable decline.”

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