Don't kid yourself. Four billion is a significant, in fact, large find and worth the cost of extraction. A 100 million barrel field of deep water oil is marginal in today's market. Extraction costs for deep water oil is around $30 per barrel in a large field. It is significantly higher in a small field.
Why be so US centric? Oil is a world market. It doesn't matter where it goes until there is a shortage. And then it will flow to the highest bidder as it should.
Increases in economically produced world oil reserves, no matter what size field, helps everyone. A similar situation works in farming. There is more than one cornfield but its individual output doesn't move the market.
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Today's Featured Article - Hydraulic Basics - Part 2 - by Curtis Von Fange. In the last entry to this series we gave a brief overview of hydraulic system theory, its basic components and how it works. Now lets take a look at some general maintenance tips that will keep our system operating to its fullest potential. The two biggest enemies to a hydraulic system are dirt and water. Dirt can score the insides of cylinders, spool valves and pumps. Wate
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