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New oil discovery

Steve

Well-known member
"In our view, Oxy's declared discovery may only scratch the surface of the ultimate potential of its acreage in the San Joaquin basin," Leggate said. "We suggest the resource potential could reasonably exceed 1 billion barrels."

Occidental's discovery as a sign that the U.S. is far from running out of new sources of oil.
http://www.latimes.com/business/la-fi-cal-oil24-2009sep24,0,3884900.story?page=1

BP has reopened the debate on when the "peak oil" supply will be reached by announcing a big new discovery in the Gulf of Mexico which some believe could be as large as the Forties, the biggest field ever found in the North Sea.

The strike comes days after Iran unveiled an even larger find of 8.8bn barrels of crude oil, and the moves have encouraged sceptics of theories which say that peak production has been reached, or soon will be, to hail a new golden age of exploration and supply.
http://www.guardian.co.uk/business/2009/sep/02/bp-oil-find-gulf-of-mexico

We're talking about the opportunity to meet all U.S. oil needs for the next two decades. That's huge,..

Locals call it "The Bakken." It's a behemoth oil reserve stretching across North Dakota, Montana, and southeastern Saskatchewan. . . a reserve so massive, it contains ten times more barrels of oil than Alaska's North Slope.

Black Gold. . . Right Here in America

and that is just in the places we are still allowed to drill...
 
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