Tuesday, September 05, 2006

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

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