Some oil tidbits
10. PESSIMISTIC PEOPLE - 33% of Americans believe there could be a collapse of the country's economic markets within the next 5 years (source: USA Today).
11. REALLY DEEP - A Louisiana-based company recently resumed drilling on a previously abandoned oil well in the Gulf of Mexico. As of 7/17/08, the drilling had penetrated more than 6 miles into the earth (32,550 feet), the deepest recorded drilling ever. The well was unplugged and drilling resumed as a result of the industry's high current oil prices (source: Wall Street Journal).
12. JUST DRIVING AROUND - 44% of the crude oil consumed in the USA is refined into gasoline for our cars and light trucks (source: Department of Energy).
13. NOT MUCH HAS CHANGED - The production of crude oil that occurs in the USA today (5.1 million barrels a day) is the same level of production domestically as it was in 1949 (source: Department of Energy).
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07-28-2008, 11:49 AM
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