In 2003, Cornell geology professor Lawrence M. Cathles predicted that tens of billions of barrels’ worth of oil lies below the Gulf of Mexico. Evidence for this is based on geological surveys of sub-ocean-floor stratigraphic layers. In 2006, fleets of ships set out from the Louisiana coast on an expedition to discover oil reserves, with expectations of increasing offshore production to 2.2 million barrels a day b y 2012.
32% of all US domestic oil production comes from the Gulf of Mexico. 80% of Mexico’s oil production comes from the Gulf of Mexico, and the US imports a significant part of that.
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