New Oil Field in the Gulf of Mexico Could be Huge
The
BP blowout reaction a couple years ago put a lid on oil and gas
development in the Gulf of Mexico that has yet to be fully lifted. With
oil over $100 today and the projections on prices looking scary for the
economy and average Americans, a little good news is very welcome. A
midsize oil explorer and developer company called McMoRan has been
working in shallow Gulf of Mexico waters, close to shore, but drilling
very deep. For years McMoRan has been ignored. Until:Chevron, the Big
Oil Giant out of California caught on to the…Read more...
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