Friday, January 15, 2010

Oil Reserves Found

By Deputy Johnson

A debate about when the "peak oil"

supply will be reached has been

reopened by the company BP, British Petroleum (Beyond Petroleum)

The biggest oil field ever found in the North Sea is the main reason for the reopening of this debate. BP is the largest producer of hydrocarbons in the US. This new oil discovery was called the Tiber discovery. The Tiber discovery was found 4,100 feet under water. This promising discovery has opened up a whole new area for drilling and oil refineries. This find confirms their position in the deep waters of the Gulf of Mexico. Tiber is believed to contain four billion barrels of oil. This is the biggest find since the fourties. The Tiber find proves the fact that oil companies are still capable of finding oil.
In the world marketplace this oil is worth is Billions of dollars.

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