In what may be great news for gasoline prices, Chevron has announced a major oil discovery in the Gulf of Mexico. If current estimates hold, the new field may yield as much as 15 billion barrels of crude. Since the US currently consumes approximately 16 million barrels of oil a day--55% of which is imported--this would go a long way to reducing our dependence on people that want to kill us.
On the other hand, the next time a category 5 hurricane roars into the Gulf, we'll be even more f*cked than we were after Katrina.
Tuesday, September 05, 2006
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