Money in a Hole

Exxon-Mobile had a good day.  Matt Bramanti said it well in a tweet.

@mattbramantiMatt Bramanti
You know what’s cool? Finding $70 billion in a hole.http://goo.gl/RN258

A huge find in the Gulf, although disappointing to President Obama, who disains success to to American people and Industry. It is good news for those of us who are tired of Muslim and Venezuelan blackmail, and high fuel prices.

Exxon Mobil Corp. has made one of the largest oil and gas finds in the Gulf of Mexico in a decade, the company announced today.

The oil major said it made two oil discoveries and a natural gas discovery in its Keathley Canyon blocks, including an oil discovery in the company’s first exploration well since last year’s moratorium on deep-water drilling.

Exxon expects the combined finds to yield more than 700 million barrels of oil equivalent. More than 85 percent would be oil, the company said.

Drilling early in 2010 turned up oil and natural gas at the well 250 miles southwest of New Orleans in the Hadrian North field. Work was suspended during the federal drilling ban, but the well is in about 7,000 feet of water and will be drilled deeper, the company said.

Meanwhile the CEO of Government motors, wants us to pay more for fuels, presumably so that we might be forced to buy their crappy Volt.

If General Motors CEO Dan Akerson had anything to say about it, you would be paying a dollar more a gallon for gas. Yes, with $4/gallon prices hitting consumers in a tough economy, Akerson told the Detroit News: “You know what I’d rather have them do — this will make my Republican friends puke — as gas is going to go down here now, we ought to just slap a 50-cent or a dollar tax on a gallon of gas.”

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