"Huge oil find" in Utah

"A tiny oil company has snapped up leasing rights to a half-million acres in central Utah that it says could yield a billion barrels or more of oil.

Geologists are calling it a spectacular find - the largest onshore discovery in at least 30 years, located in a region of complex geology long abandoned for exploration by major oil companies. It is turning out to contain high-quality oil already commanding a premium at refineries."

- "Guys, this is a huge find on the mainland. There is enough oil in the find to satisfy the current world demand for a full 12 days."

- Putting it another way, that will move the peak date by less than a fortnight. *If* it's a confirmed find. *If* it is "ultimately recoverable". Remember what happened to Shell's "reserves". lol.

(2005-05-05 22:15:47 SGT) [Energy] Permalink

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