Bizblogger

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Friday, May 06, 2005

Huge Oil Discovery in Utah

This oil find in Utah didn't get much press this week (perhaps because drilling for and using oil is considered evil by the Left), but I think it's pretty big news.
A tiny oil company has snapped up leasing rights to a half-million acres in central Utah that it says could yield a billion barrels or more of oil.

Geologists are calling it a spectacular find -- the largest onshore discovery in at least 30 years, located in a region of complex geology long abandoned for exploration by major oil companies. It's turning out to contain high-quality oil already commanding a premium at refineries.