http://www.energytrendsinsider.com/2016/11/27/20-billion-barrels-of-oil-was-not-discovered-in-the-permian-basin/#more-19489

 

20 Billion Barrels Of Oil Was Not Discovered In The Permian Basin

By Robert Rapier

Earlier this month the U.S. Geological Survey (USGS) announced the largest estimate of continuous oil that it has ever assessed. The area assessed is in the Permian Basin, a region that has been producing oil continuously for nearly 100 years. Below I will get into the specifics of what this news means, but the mainstream media mostly interpreted it as CNN did inMammoth Texas oil discovery biggest ever in USA. But this is a fundamental misunderstanding by CNN of what the news entails.

(Read more)

Source: Energy Information Administration.