Q:
More good news for future gas prices!!
http://hosted.ap.org/dynamic/stories/M/MAJOR_OIL_DISCOVERY?SITE=7219&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2006-09-05-08-28-12
Promising New Oil Find in Gulf of Mexico
OSLO, Norway (AP) -- Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies announced Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves by as much as 50 percent.
The Jack 2 well was drilled by U.S. oil company Chevron Corp., with partners Statoil ASA of Norway and Devon Energy Corp. of Oklahoma City.
"Test results are very encouraging and may indicate a significant discovery. The full magnitude of the field's potential is still being defined," Statoil said in a statement.
During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, Statoil said.
The Wall Street Journal reported Monday that the region where the well is located could become the nation's biggest new domestic source of oil since the discovery of Alaska's North Slope more than a generation ago.
The Journal said Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels' worth of oil and gas reserves, a total that would boost the nation's current reserves by 50 percent.
The well was drilled in the Walker Ridge area of the Gulf, about 270 miles southwest of New Orleans and 175 miles off the coast. It followed up a discovery made by Chevron in 2004.
"This area is one of the new and promising deep-water areas in the Gulf of Mexico," said Oivind Reinertsen, senior vice president of Statoil's Gulf of Mexico assets in Houston.
"The Jack 2 well test data are encouraging and may form the basis of future development projects in Walker Ridge," he said.
In a separate statement, San Ramon, Calif.-based Chevron said the well set a variety of records, including the deepest well successfully tested in the Gulf of Mexico. Chevron said it was drilled to a total depth of 28,175 feet in waters that are 7,000 feet deep.
Chevron has a 50 percent stake in the field, while Statoil and Devon own 25 percent each.
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12.804 @ 107.26 mph on crappy street tires with Dual SU Powered 2.9L Stroker!
ZCAR.COM member since Aug 1998
Post Edited (Sep 5, 7:35pm)
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Has'nt anybody noticed gas price's are dropping.
Yesterday the price went down 7 cence
Gas is getting cheaper!!!!
It should be down to 2 bucks by thanksgiving....is what they claim
But prices are definetly dropping.
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I remember when I could buy gas for less than $1 a gallon. When I could fill a whole tank for less than $20.
AND IM ONLY 26. What does that say for the insane growth of gas prices. Damn it makes me feel old.
Mans Prayer "I'm a man.... But I can change..... If I have too...... I guess"
No matter how good she looks, some other guy is sick and tired of putting up with her.
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I'm the same way Dragon. I'm only 28 and I can remember in high school getting gas for .79/gallon. I thought .89 or even .91 was way too much then when I had a 69 chevy 1/2 ton truck to fill up. Man, $20 a week in gas was killing me. $20 now gets me about 5/8 tank in my grocery getter Jeep Liberty....
1972 240Z 4-speed, header, 3.54 R200, Crane XR-3000 Ignition, 280Z tach, Tokico Blue Struts, Suspension Tech Springs, Poly Bushings. Visit me at my website for your custom EFI & restored Datsun parts
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Hi folks,
When I was quite young and working in a gas station, gas was 19 cents a gallon. One day it went up to 21 cents and some customer threatened to kick my butt. I remember telling the guy, "I'm only 12 years old, why you yelling at me?" I remember when people used to buy $1 worth of gas. That was over five gallons! Today that would cost you over $15. Wow.
John
77280Z (Spooky), 83ZXT (Garage Queen), 86ZXT (Bulldog).
Proud owner of 10/03 Z car of the month.
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Yes WOW
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John.......... you're old dude!!! haha j/k
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12.804 @ 107.26 mph on crappy street tires with Dual SU Powered 2.9L Stroker!
ZCAR.COM member since Aug 1998
A:
Quote:
I remember when I could buy gas for less than $1 a gallon. When I could fill a whole tank for less than $20.
AND IM ONLY 26. What does that say for the insane growth of gas prices. Damn it makes me feel old.
Me too, I am also 26. I used to fill the Z up with premium for $1.09 and still have enough in a $20 to do it again 3 days later. Yes its dropping, but I still dont drive if I dont have to. Last week I drove 35 miles out of 97 for my work week, the rest... bike.
But then yesterday, one of the biggest autocrosses for the WMSCCA... $22 in gas and that got me 50 miles north, a day of autocrossing and 50 miles back home on one tank!! That has never happened!! :) z31 fi managment is a lot better than s130.
SHIFT_PPSSHHHTT... I love it, I love it
1973 240z, 2.8L Turbo, BRE Style
z31 ECCS and MAF swap
Spooled Up Racing ®
http://spooledupracing.tripod.com/home.htm
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My draw through setup is terrible on gas so it came to the point where I just couldn't get from a to b anymore. Of course it's parked now that prices are dropping.
1976 280Z
Draw-Through Turbo, 10 PSI, 4 Bbl Holley, E88, L28 (Flat), 10:1 CR, 5 Spd
1974 Corvette Stingray:
350, 400 Automatic, T-Tops, 8.5:1 CR, 78,000 Miles
1994 Acura Integra:
1.8L, 5 Spd, 189,000 and Counting!
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It was sumemr of 2000 the last time gas was under $1/gallon. i remember it because my british roommate took a pic of the sign to emial his freinds and family back home because "they are never going to beleive this"
Gas may be dropping but Im still looking for a metro, justy or swift winter beater.
McAdam
1980 280zx with a mildly ported N47 maxima head, 60mm TB, -C- stamp 256 degree camshaft, and a 2.5inch mandrel bent exhaust. yeah, its quick, and yeah, its a 2+2. NOW with MSandS_E power!
A:
That oil will be just fine for the grandkids. I won't live long enuf to see any of it.
Rusty but running.
Polish cell phone and two tubes of Aluma-seal.
And, now we are historic.
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gas used to be real cheap in the old days, but so was everything else. heck a z was only 3500 bucks. But you coudl also buy a nice house for like 20g's, so I'm told. So it is all relative. Gas was still more expensive in the 80's. It will go down for a while, but what happens when every other chinease person is driving a car? That will suck it all away fast. I'm trying a new scientific process to make my z run on dirt! ;)
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81 ZXT 2+2
http://www.strausz.us/zcar/turboswap/
A:
I remember paying the same for a gallon of gas over a 10 year period, that is un-natural. I still think we're getting gouged and the oil companies having been taking profits to make up for the glut of the 90s.
Heavily medicated for your protection.
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I blame big oil for the oil prices going down, LOL.
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"I blame big oil for the oil prices going down, LOL."
Yep, now I am going to have to adjust my budget again. Darn them! Actually it is still above $3.00 here in Tri-cities Washington. Still waiting for them to get the memo here.
-------Senkyoshi
1973 240Z 4spd Dual Webers
"I spend too much time raiding windmills"
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Im 21 and remember $1 a gallon. It cost me $16 to fill up my first 240sx I want my damn $1 a gallon back. Screw being glad its going down and might hit $2 a gallon I want $1 back.
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They may double the reserves and will most likely drop the cost about 5-10%. Then the following year they will be bragging about having the record largest profits ever. That's how it's worked.
SPEED IS MY DRUG OF CHOICE..LET ME DRIVE!
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First law of thermodynamic: Everything tends toward chaos.
Gas price might be down a little bit, but they will be up again and before we know it, $3.00 will be consider cheap.
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My Z Page
Power with intelligence.
Speed with sensitivity.
It's the Z.
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Well breaking from the I remember when trend. I wanted to state that a upto 50% increase is not double. While this find is great news another perspective on it is that this find could satisfy US demand for between 6 months and 2 and a half years based of 3 - 15 billion barrels found with a consumption of 5.7 billion barrels per year.
1981 280ZX,
Vancouver,
British Columbia,
A:
OOOOPPSSS A big old DUH on my part!!
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12.804 @ 107.26 mph on crappy street tires with Dual SU Powered 2.9L Stroker!
ZCAR.COM member since Aug 1998
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No its not going to be going back up
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when i started driving around 28 months ago i was paying about $1.20 on a bad day during the summer the last tank i bought cost me $2.98 and it was going down at that point the worst i have paid in that 28 month period would have to be $3.30
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Election time's a comin'. ... NK Used to buy gas for .25 @ Arco, .39 @ Chevron ('71-'72)
Norman Krell
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i remember filling up my Boss 429 when it was .45 cents a gallon for 95 premium. now that was cheap!
Post Edited (Sep 6, 4:54am)
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brian, and how soon did you have to refill for that thristy azz engine? LOL!
Dave
12/70 240Z, L-28, flat-tops, N-42 head, N-33 intake, MSA 10-2002 cam, ZX ignition, early 5-speed, R-180,4:11 gears, 903 Blue paint.
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I worked at a gas staion in Tampa Fl, and the gas was 0.12 pr gal.
I could fill up my 1960 falcon, with the 289 engine, for 2.00.
The drive in movie cost .50 pr car load of people, life was sweet.
Minimun wage was .90 pr hr, if you worked 40 hrs, you took home
appox 32.00. I paid 20.00 pr week for room and board (food), and still
had a pocket full of mula.
82zxt /5sp /Fsm /Tools /Med Knowledge /Tampa /And a little Learned Luck.
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Ah heck youngsters -
I remember when air, water and service were FREE w/ $.16 gas.
Look at the old threades where milk, bottled water and soda are compared to gasoline.
It's still good to see the prices go down.
Maybe they'll hit water and I can aford bottled water.
Ed and Jeanne's
ZXelda 1981 280 ZXT: ZXena 1990 300 ZX
1941 Buick Special Sedanette (Betty)
1956 Dodge Royal (Dorothy)
1971 Buick Riviera (Rita)
1975 Ford F-150 Stepside (Fiona)
1992 Firebird (Frieda)
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'05 350Z Chrome Silver Touring
'73 240Z
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Yeah, I remember when I could drive my Chevelle to school and back for $5.00 bucks a day. I can't even drive to the store on that now, and its just down the road.
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