[Teacher317]

at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion

This line really makes me lose faith in the remainder of the information. Oil is nowhere near $107/bbl right now.

[abb]

ping

[17th Miss Regt]

At $40 a barrel, the formation could pump out enough oil ($2,000,000,000,000) to make a down payment on the stimuli packages just passed and the new one proposed. But just a down payment.

[mvpel]

This line really makes me lose faith in the remainder of the information. Oil is nowhere near $107/bbl right now.

It was, when the piece the site cites was written, back in the summer of 2008.

But regardless of the price of oil, the discovery is significant.

[Old Badger]

"This line really makes me lose faith in the remainder of the information. Oil is nowhere near $107/bbl right now."

It's going to be for the reason that the democrats will see the low oil prices and claim we can afford one dollar more in gas taxes. It won't take long ...... wait and see!

[dangerdoc]

As soon as the economy recovers, oil prices will spike. We have cut back on domestic drilling and foreign producers are also cutting back on production.

On the bright side Barry’s stimulus program ensures that we will not face that problem for the forseeable future.