Report: Great Britain could be sitting on a giant oil field

Oil fever has gripped Great Britain after a small company announced the discovery of what it described as “a possible world-class potential resource” in the Surrey countryside south of London, reports the New York Times. According to the newspaper, the company, UK Oil and Gas Investments, said an evaluation by an American firm, Nutech, of a well drilled in late 2014 indicated there were 158 million barrels of oil per square mile in the terrain around it. The Times says investors and others noted that UK Oil and Gas and its partners could be sitting on almost nine billion barrels of oil, which would amount to a giant field if oil can be brought to the surface. For more, read the full story.