Not a hoax. BP's market cap went up by $7,000,000,000 (that's billions) after the announcement. Production is many years away.
Still plenty of oil in the Gulf of Mexico. They still haven't drilled anything east of New Orleans all the way around to the Florida Straights, the body of water between Cuba and Florida. Some of those oil bearing blocks have only been recently released for exploration.
If you want action in the oil sector, look at the Gulf of Guinea off the West Coast of Africa. Sinopec (China) just paid 7.2 billion for a small exploration and production company, Addax Petroleum. They are drilling now and will probably scoop up others with their surplus of depreciating US dollars. Yep, the dollar got clobbered today. Look what happened to gold.
Anyway, click the link for the next likely Sinopec purchase.
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Today's Featured Article - Field Modifications (Sins of the Farmer) - by Staff. Picture a new Chevrolet driving down the street without it's grill, right fender and trunk lid. Imagine a crude hole made in the hood to accommodate a new taller air cleaner, the fender wells cut away to make way for larger tires, and half of a sliding glass door used to replace the windshield. Top that off with an old set of '36 Ford headlight shells bolted to the hood. Pretty unlikely for a car... but for a tractor, this is pretty normal. It seems that more often than not they a
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