Oil Prices will drop fast if this ends up being true
Huge Oil Field Found in Utah
http://tv.ksl.com/index.php?nid=5&sid=202821
And slick willie won't be locking the land up and calling it a 'monument'.
As most of the posts on this thread reveal people really don't have a sense of scale regarding Saudi/Middle Eastern deposits relative to the stuff we have.
Saudi oil deposits are just incomprehensibly huge and require basically no effort to drill. It takes an awful, awful, awful lot to make more than a blip on the market.
"Oil Prices will drop fast if this ends up being true..."
My understanding is that the high prices are more because of a shortage of refining capacity that of oil. The refining capacity is low because the greenies have blocked new refining capacity. It is time we found the balls to put these greenies and the liberal left where they belong...
No they won't until we develop new refineries. That’s the problem the ecoterrorist (Sierra Club et al) have blocked any attempt to build new refineries.