Here's a different angle, possibly worthwhile. It could have bearing on the Peak Oil issue, but it's complicated, as usual, more to it than meets the eye.
Headline:
Newly discovered oil source fans offshore drilling debate
http://159.54.227.3/apps/pbcs.dll/article?AID=/20060918/NEWS/609180317
This is an interesting development for reasons little noted so far: the Chevron "Jack" discovery is very deep, nearly 30,000 feet down to a 500+ feet of oil column. Many experts attribute this find to greatly improved seismic equipment and data...equipment effectively able to seek through layers of salt. Several years ago, I was told by a lady at the Minerals Management Service in New Orleans...
http://www.gomr.mms.gov/index.html
...that they have GOM seismic data to 65,0000 feet deep. I'm sure that isn't the case throughout the GOM, but if Chevron hit a 15 billion bbl field at 30,000 feet and that's the deepest well ever drilled to a large prospect, then the deep stuff is virgin territory so far as drill bits are concerned, meaning there might be as much or more oil at 30,000 feet or more deep as we've found oil above 30,000 feet since the 1800s.
So the question: if new seismic data is available in the GOM to 65,000 feet, what does that seismic data show? Geologists and petrophysicists look at raw seismic data with some uncertainty that's later resolved if and when a seismic prospect is drilled. In other words, when they look at seismic data, they see stuff down there that may or may not actually be oil. Devon (one of Chevron's Jack partners) has hit oil in 4 of 6 places where they thought they might find it...so the new technology is revealing, to say the least.
So now the national security issue: who gets to to look at the deep seismic data and make judgments about what kind of oil we have offshore in the deep GOM? I don't suppose any given oil company should have access to all other companies' seismic data, but CIA analysts ought to have access to the whole thing so as be able to judge our future production and dependence on foreign oil.
This may have bearing on Thomas Gold's Hot Deep Biosphere...the distribution of hydrocarbons from ultradeep primordial methane to less deep methanes degrades by heat and biota to oil. Oil tends to pool in reservoirs that are thin and flat, like pancakes...or, by extension, in layers, like onion skins. How deep do 500 foot think onionskin oil reservoirs go?
Deep offshore drilling has some considerable technical difficulties, but some obvious advantages too. The drillships can float over their targets and move from one to another with ease compared to land rigs. That matters when the rigs might have to drill 6 miles or more deep; an ultradeep drill rig is necessarily a massive structure. Another advantage: ultradeep wells can be produced into FPSOs / tankers so no costly pipelines. If you have to drill 6 miles or more, the part of that depth that's water is a lot easier to penetrate than the various stones of geological formations.
Yes, this could be a very big deal for Big Oil, the USA and the World. Whatever Chevron's "Jack" discovery means in the deepwater GOM may be true worldwide to some extent. If so, Colin Campbell's Peak Oil doomsday might need to be revised, since it's unlikely that his Peak Oil models contemplate vast, economically accessible reserves below 25,000 feet. This pattern remains to be seen elsewhere in ultradeep drilling, of course.
At any rate, Congress should be all over this discovery and related deep seismic data for reasons that haven't been discussed a lot in public.