Thursday, March 18, 2010

We really do have plenty of energy in the good Old USA!

James R. “Jim Bob” Moffett could have retired years ago with his legend fully intact. Today, however, in the twilight of a long, storied and sometimes controversial career, the 71-year-old oil and mining executive is taking what amounts to a victory lap.
Moffett, co-chairman of New Orleans' McMoRan Exploration Co., is riding high again after the recent discovery of a major natural gas field in the shallow waters of the Gulf of Mexico, touted as the biggest there in decades.
Called Davy Jones, the discovery is significant for more than its size: It is in an ancient layer of sediment buried at a depth few in industry have ever drilled. As such, it could herald a new frontier for oil and gas development in the heavily explored offshore region.
It's from the Houston Chronicle. Read the rest here.

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