Discovery of oil in US!!!!

[Sfrtuscani]

http://blogs.moneycentral.msn.com/topstock...st%20in%20u%20s

[Rickster]

A hoax to defray concerns about oil supplies & soaring prices?

[Bearbear1494]

I'm a little confused about the term "technically recoverable oil". Given current technologies, will this oil be cost-effective to tap into? If this find is actually big enough, and cost-effective enough to be exploited, maybe the rest of OPEC will think twice about pushing out a higher volume of crude into the global market, hopefully bringing prices down to more reasonable levels.

[Apollo]

hyperlink for u

 

http://blogs.moneycentral.msn.com/topstock...st%20in%20u%20s

 

(+ 1 post hee hee)

[Shull]

technically..land based oil reserve should be cheaper than those offshore oil rig..

[Normal_aspirated]

i think he's refering to oil sands................checkout here:

 

http://en.wikipedia.org/wiki/Tar_sands

 

Many countries in the world have large deposits of tar sands, including the United States, Russia, and various countries in the Middle East. However, the world's largest deposits occur in two countries: Canada and Venezuela, both of which have tar sands reserves approximately equal to the world's total reserves of conventional crude oil. As a result of the development of these reserves, most Canadian oil production in the 21st century is from tar sands or heavy oil deposits, and Canada has become the largest supplier of oil and refined products to the United States. Venezuelan production is also very large, but due to its political problems, estimates of its production data are not reliable, and its oil production is believed to have been declining.

 

with such high oil price, harvesting oil sands seem profitable now........my S$0.02.