Not a hoax. BP's market cap went up by $7,000,000,000 (that's billions) after the announcement. Production is many years away.
Still plenty of oil in the Gulf of Mexico. They still haven't drilled anything east of New Orleans all the way around to the Florida Straights, the body of water between Cuba and Florida. Some of those oil bearing blocks have only been recently released for exploration.
If you want action in the oil sector, look at the Gulf of Guinea off the West Coast of Africa. Sinopec (China) just paid 7.2 billion for a small exploration and production company, Addax Petroleum. They are drilling now and will probably scoop up others with their surplus of depreciating US dollars. Yep, the dollar got clobbered today. Look what happened to gold.
Anyway, click the link for the next likely Sinopec purchase.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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