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Commodities Briefing - Categorized | Market Moves, Oil more

For better or worse, big oil has big U.S. future

Posted on 08 July 2013

Oil major Shell announced it drilled into a discovery in the Gulf of Mexico that is estimated to hold as much as 100 million barrels of oil equivalent. Shell made the discovery while drilling in its Vicksburg exploratory well in deep waters near an area thought to contain five times the amount of the recent find.
That’s good news for a U.S. economy looking to buffer itself against turmoil overseas. The recent crisis in Egypt helped pushed oil prices to record levels for the year. It’s bad news, however, in the era of the low-carbon economy………………………………………..Full Article: Source


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VRS - who has written 34624 posts on Opalesque Commodities Briefing.


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