This is huge – From Fox News - “Tests may indicate significant oil discovery in Gulf of Mexico”: “Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies announced Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves by as much as 50 percent.” 50%! It’s like a whole new Prudhoe Bay.

Also from CNN: “Chevron and its partners have successfully extracted oil from a test well in the deep waters of the Gulf of Mexico, an achievement that could be the biggest breakthrough in domestic oil supplies since the opening of the Alaskan pipeline.”