Chevron's oil find may boost U.S. reserves by 50%
This morning, Chevron announced the successful test of its deepest well in the Gulf of Mexico: Jack #2. The company estimates that the recent discoveries in the gulf hold between 3 billion and 15 billion barrels worth of oil and gas reserves.
If their estimates hold to the high side, this discovery would boost U.S. reserves by 50%.
And gas is down to $2.29 a gallon in the Midwest.
I blame Bush.
MarketWatch: Chevron-led group may find top U.S. oil source