Gulf of Mexico Oil Spill Blog BP “World Needs New Oil”

BP “World Needs New Oil”

world oil reserves map

World needs new oil, BP says

LONDON, Nov. 18 (UPI) — The world is in desperate need of the oil and gas reserves that lie under the sea floor in the Gulf of Mexico and other oceans, a BP executive said in London.

Iain_Conn_gulf of mexico oil spillIain Conn, the top refining and marketing executive at BP, spoke at Imperial College in London on developments in the energy sector following the summer oil spill in the Gulf of Mexico.

He said global energy demand forecasts meant deep-water reserves couldn’t be ignored.

“There was a good reason why the Macondo well was being drilled in the first place,” he said of the failed well that lead to the oil spill. “It’s because the world badly needs the oil and gas that reside beneath the seabed of the Gulf of Mexico, the Atlantic and other oceans in order to meet inexorably growing energy demand.”

Even if the world’s major oil-producing countries were able to honor commitments, depleted reserves and rising demand were putting a strain on conventional oil and gas fields.

New oil frontiers were emerging in places like the deep waters of the Gulf of Mexico, offshore Brazil and the arctic, where receding sea ice is exposing vast oil and gas reserves.

offshore brazil gulf of mexico oil spill blog

What happened in the Gulf of Mexico was “a significant failure,” said Conn. But with deep-water reserves accounting for 7 percent of global supplies, alternative reserves will continue to play a role in the world’s energy future.

source: World needs new oil, BP says – UPI.com

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2 Responses to Gulf of Mexico Oil Spill Blog BP “World Needs New Oil”

  1. Pingback: Oil Spill New Mexico İmpact World - OIL WORLD – OIL WORLD

  2. Rafa says:

    The world does not need new oil. Some people needs new oil. The world need to recover from its dependency at all cost. The illusion was created by those who got all the financial and political means to spread this overrated concern. Whoever believes that the world needs its oil is just mentally ill and corrupted from logical thinking.

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