Diary

What the Gang of 10 gives us

I found a map from the 2000 resource assessment here. pdf`

I believe the most recent resource assessment is somewhat more optimistic for the east coast. Note that resource assessments are only an educated guess.

In my opinion anything outside Southern California and the Eastern Gulf is quite speculative.

Oil in billion barrels, gas in Tcf.

Area Oil Gas
Eastern Gulf 2.73 8.45
Southern California 5.92 10.34
South Altantic 0.77 9.29

By my calculation the gang of 10 gives access to something less than 22% of the resources covered by the drilling ban. Less, because of the 50 mile limit and other restrictions.

I think the gang of 10 gives us little and costs far too much.

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Only 51 wells have ever been drilled on the Atlantic coast. Here is a map showing their locations. [pdf](http://www.gomr.mms.gov/homepg/offshore/atlocs/Atlantic_Index_Preliminary.pdf)

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What it shows is that there are vast areas which have never been drilled. There are three clusters of wells near Georgia, New Jersey and Cape Cod, while the area from the Potomac to Savannah has never seen a drillbit. This exploration was 30 years ago and it is now possible to produce oil in much deeper water. Areas which would have been ignored in the 70s are now viable.

Due to the lack of drilling, resource estimates for the South Atlantic

should be treated as highly speculative.

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