#### Comment Preferences

• ##### Evidence?(1+ / 0-)
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on the cusp

Please. I'd be very interested in seeing anything you might have.

Was never very good at math. Oddly, though, I can count by twos if I start at the number 1.

[ Parent ]

• ##### A company with > than \$900 B in play(0+ / 0-)

Like I said in the diary, I've never heard, and could not find, anything approaching that number in anywhere in all of google. I had to go to national GDPs to find numbers that large.

To be clear, my challenge is to find evidence for this statement:

Because Exxon is a US company?  There's oil and gas companies with a lot more at stake that aren't American.

Was never very good at math. Oddly, though, I can count by twos if I start at the number 1.

[ Parent ]

• ##### \$900 billion is not in play.(0+ / 0-)

That's a maximum possible value to the property.  The risked (actual) value of the prospect is a tiny fraction of that.

Exxon most certainly does not carry it as \$900 billion on their books.

• ##### YOu should take that up with Bloomberg(0+ / 0-)

But I lean toward agreeing with them based upon the way the deal was announced in 2011. Both Exxon and Russia said the Exxon would be committing \$300 to \$500 billion in outlays to the project. You don't do that unless you're confident of a large return.

And if those figures (\$300B-\$500B) are anywhere near accurate....  even if they miss by \$100B....  it'll still be the largest deal ever...

Finally...

I don't know why you were so quick to defend Exxon, but unless I'm missing something, I gather you now agree with me that Exxon does, indeed, have the biggest exposure to the vagaries of Russian politics?

Was never very good at math. Oddly, though, I can count by twos if I start at the number 1.

[ Parent ]

• ##### I disagree with the cause of...(0+ / 0-)

...the hesitance to deal with Russia.  It's mostly because our allies don't want any part of it (due to having more skin in the game, financially and in terms of physical safety.)

I don't have any particular fondness of Exxon one way or another.

And if those figures (\$300B-\$500B) are anywhere near accurate....  even if they miss by \$100B....  it'll still be the largest deal ever...
Am I missing something in another article?
All this means drilling the prospect will cost more than \$600 million, more than triple typical offshore exploration wells in other parts of the world, according to people in the industry familiar with the plans.
I don't think Exxon's commitments are \$300-\$500 Billion... Exxon's exploration budget is only \$3B.

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