Greece set to eclipse the EU

• Guest 696

  • Registered: 31 Mar 2010
  • Posts: 8,115
  1 November 2012     01:06198796
  #1       report
  According to Ekathimerini.com, Greece is set to start active research of oil and gas reserves worth trillions of pounds, indeed many, many trillions.
  
  "Preliminary estimates made by experts commissioned by the Environment Ministry suggest a potential 22 billion barrels in the Ionian Sea off the coast of western Greece and more than 4 billion barrels in the Northern Aegean.
  
  The area south of Crete is said to be particularly promising, while the Eastern Mediterranean, especially the area between Crete, Cyprus and Rhodes, is thought to be the location of sizable reserves of oil and natural gas."
  
  Even just the smallest estimated reserve shown here, that of 4 billion barrels situated in the Northern Aegean, would equate to 400 billion dollars - at today's market price - going into the Greek treasury.
  
  Cyprus has already located, south of the island, an enormous gas reserve which it will commence exploiting in seven years time.
  
  The question is, will Cyprus and Greece use their oil and gas reserves, let's say in seven years time, to finance the whole EU and bail out every country, throwing the trillions of dollars at them, or will these two countries just pay off any insignificant debts they may have accumulated with the EU - with the stroke of a pen - and then leave the EU and live happily ever after?
  
  
  Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
  Rule Britannia!
  Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ
• Guest 653

  • Registered: 13 Mar 2008
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  1 November 2012     05:28198800
  #2       report
  Hope they all live happily ever after whatever they decide to do; being debt-free after a while will make Greece and Cyprus, the European destinations (they already are for many people).
  
  If this is all true and comes to fruition - Good Luck to them.
  
  
  
  Roger
• Brian Dixon

  • Location: Dover
  • Registered: 23 Sep 2008
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  1 November 2012     08:46198828
  #3       report
  rather cynical there roger.
• Guest 693

  • Registered: 12 Nov 2009
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  1 November 2012     14:52198878
  #4       report
  No wonder the Germans keep bailing them out; they must have known all along.
  True friends stab you in the front.
• Guest 696

  • Registered: 31 Mar 2010
  • Posts: 8,115
  1 November 2012     18:50198933
  #5       report
  In fact that's also why I posted this thread, because most certainly Greece's oil and gas reserves have not gone unnoticed, but the Public wouldn't know this.
  
  There has to be some enormous potential financial treasure mine the EU leadership have cast their eyes on, it had to be a massive oil and gas reserve in some EU state. Something worth trillions of pounds/dollars (or euro) over a period of many decades, that would fuel their morbid fantasy of resurrecting a bankrupt and failed system!
  Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
  Rule Britannia!
  Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ
• howard mcsweeney1

  • Location: Dover
  • Registered: 12 Mar 2008
  • Posts: 62,352
  1 November 2012     19:02198938
  #6       report
  no doubt all the benefits of any bonanza will go to the very few super rich much as things are today in greece.
• Guest 698

  • Registered: 28 May 2010
  • Posts: 8,664
  1 November 2012     19:19198944
  #7       report
  Please also research the cost of extracting fossil fuels from strata below waters a mile deep. The eastern med and the Aegean are pretty deep and present challenges which are nothing like those involved in continental shelf drilling such as in the North Sea or Gulf of Mexico.
  I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
• Guest 696

  • Registered: 31 Mar 2010
  • Posts: 8,115
  1 November 2012     19:27198946
  #8       report
  Precisely this research is about to commence any time soon, Peter.
  So far there have been preliminary estimates.
  Greece has been receiving offers from research companies.
  Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
  Rule Britannia!
  Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ
• Guest 745

  • Registered: 27 Mar 2012
  • Posts: 3,370
  1 November 2012     20:07198963
  #9       report
  All Stavros has to do is sell a couple of islands'
  
  The buggers just won't a hand out
• Guest 696

  • Registered: 31 Mar 2010
  • Posts: 8,115
  1 November 2012     21:36198983
  #10       report
  No, Keith, Greece hasn't been receiving offers to buy up islands and off-shire economic waters, but offers to carry out oil and gas exploration
  Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
  Rule Britannia!
  Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ