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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (30825)	4/5/2003 9:34:02 PM
From: Moominoid	Respond to of 74559

Surely someone will discover Iraqi sized oilfields in the sea soon. Most of the planet is covered with sea, it stands to reason. Most of the ocean is not suitable for finding oil as it is young, basalt underlain, ocean floor. The area of continental shelves with suitable geology is not that huge. One of the biggest is the North Sea. Due to less exploration due to costs there are probably some more reasonable size ones out there but I can't see them being on the Iraq/Saudi Arabia scale. Going down to 7800 feet is kind of a good indication that the easier to find oil has already been found in the ocean too...