Verb.

To exhaust a resource which, being absolutely finite, is treated as though it is inexhaustible. Usually describing a situation where an observer would predict this outcome long before the subjects.

This term is derived from the tendency of a beer keg to float to the top of a barrel of ice once empty.
a. Damn, son. Ain't nobody gonna do nothin' bout our addiction to oil 'till we float the keg and run out.

b. I heard that, brother.

or

Too b@d we flo@ted the keg on that expense @ccount. I could really use @ new keybo@rd.
by I'm probably your dad September 04, 2013
Get the Float the keg neck gaiter and mug.
To empty the contents of the keg. Usually by oral consumption. Also the sign that the party/function has come to an end.
All the beer is gone. The keg has been floated. NO MORE BEER! FUCK! Now how am I gonna get this girl drunk and take advantage of her.
by T October 06, 2004
Get the Float a keg neck gaiter and mug.