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Read more about the article Where Are The Largest Oil Reserves? | ZeroHedge

Where Are The Largest Oil Reserves? | ZeroHedge

Russia has reportedly discovered colossal oil reserves in the British territory of Antarctica. According to documents presented to the UK House of Commons Environmental Audit Committee in early May, the discovery was made by Russian research vessels in the Weddell Sea, part of the Antarctic territory claimed by the UK. The reserves discovered are estimated to contain some 511 billion barrels of oil, around 10 times the production of the North Sea over the last 50 years.

However, as (more…)

Continue ReadingWhere Are The Largest Oil Reserves? | ZeroHedge

Strong Indian Purchases Push Asia’s Crude Imports To One-Year High | ZeroHedge

Authored by Tsvetana Paraskova via OilPrice.com,

Record-high crude imports in India have pushed Asia’s oil arrivals in May to the highest level in a year, per data compiled by LSEG Oil Research and cited by Reuters columnist Clyde (more…)

Continue ReadingStrong Indian Purchases Push Asia’s Crude Imports To One-Year High | ZeroHedge

US Drivers Overwhelmingly Prefer Gasoline Cars To EVs | ZeroHedge

Authored by Tsvetana Paraskova via OilPrice.com,

Americans continue to be fans of gasoline-powered vehicles and prefer them to electric vehicles (EVs) and hybrids, a new study by KPMG has shown.

Assuming all costs and features are the same, just 21% of consumers prefer an EV, the inaugural KPMG American Perspectives Survey found.

The survey assessed the views of 1,100 adults nationwide to understand their outlook on their personal financial situation and the U.S. (more…)

Continue ReadingUS Drivers Overwhelmingly Prefer Gasoline Cars To EVs | ZeroHedge