January 24, 2010

The World's Ugly Quest for Crude Oil

Howard French, The National

AP Photo

Ingenuity is one way to describe the search for crude in deeper and deeper waters; another, equally apt, might be desperation. Once all-mighty, the large Western oil companies now control well under 10 per cent of the world’s known crude.

“Big oil never wanted to be here,” read the telling first line of a recent Wall Street Journal feature about the successful efforts of Chevron in very deep waters not far from BP’s big find.

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TAGGED: energy, crude oil, oil, China, Nigeria

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