The "Oil Age" as referred to will probably meet an untimely death when Israel nukes the Iranians.
Iran makes giant new oil findIran has made a major new oil find containing estimated reserves of more than 38 billion barrels, making it one of the world's biggest undeveloped fields, a senior oil official was quoted as saying on Monday... Khamoushi said preliminary studies indicated that the Ferdows field contained 30.6 billion barrels, the Mound field 6.63 billion and the Zagheh field 1.3 billion... The crude is of high density, making it less valuable on world markets than most of Iran's 90 billion barrels of proven reserves. Commercially recoverable reserves are certain to prove much less than the 38 billion barrels in place, but the find could still rival the world's two other leading undeveloped fields.
by Paul Hughes
July 14, 2003