New York Times | Oil Glut? Here Comes Some More! New York Times The discoveries have been hailed by the oil industry, even though companies have largely cut back on exploration over the last two years in an effort to reduce costs as oil prices fell from over $100 a barrel to roughly $50 a barrel. Along with that ... Texas oil company announces big offshore Alaska discovery Alaska Oil Reserves May Have Grown 80% on Giant Discovery An oil explorer just made what could be one of the biggest discoveries in the history of Alaska |