Free Republic

WASHINGTON -- The U.S. government has doubled to 7.4 billion barrels its estimate of how much oil might be found and tapped in the booming area of the Dakotas and Montana "These world-class formations contain even more energy resource potential than previously understood, which is important information as we continue to reduce our nation's dependence on foreign sources of oil," Interior Secretary Sally Jewell said Tuesday, April 30, in a conference call. The region already is helping to drive the nation's dramatic shift into a role as the world's leading oil producer. The surge comes primarily because of the Three...

DAVOS, Switzerland (FORTUNE) - Be afraid. Be very afraid. That's the message from two of the world's most successful investors on the topic of high oil prices. One of them, Hermitage Capital's Bill Browder, has outlined six scenarios that could take oil up to a downright terrifying $262 a barrel. The other, billionaire investor George Soros, wouldn't make any specific predictions about prices. But as a legendary commodities player, it's worth paying heed to the words of the man who once took on the Bank of England -- and won. "I'm very worried about the supply-demand balance, which is very...