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Italian Oil Company Drilling in US Waters??

965 Views 14 Replies 7 Participants Last post by  MakoMike
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On the rise, shares of Transocean Inc. (RIG:transocean inc new shs
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Last: 145.94+5.34+3.80%

4:00pm 07/08/2008

The company said it won a five-year contract for its drillship Deepwater Pathfinder. The deal struck with a subsidiary of Eni SpA is potentially worth up to a maximum of $1.19 billion, a figure that excludes revenue for cost escalations.
Transocean said the contract, which is for drilling operations primarily in U.S. waters of the Gulf of Mexico, is scheduled to start in March 2010. It's the latest in a series of pacts between Transocean and Eni, the Italian oil company.

Why is an Italian Oil company taking our oil?????
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Adds to the supply, so the oil should come down right ?

Supply and Demand is what some speculators say is the problem. This should only help...

Don't worry they'll pass the savings on to you.
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Exxon/Mobil is the worst company to buy from. Highest percentage of Arab oil.

Worst Environmental record of all the companies.

i'll never buy a drop from them ever again.
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