Big Oil was discovered at 4,300 feet below sea level in the Gulf of Mexico.

Big Oil was discovered at 4,300 feet below sea level in the Gulf of Mexico. Now Chevron Corp. is paying nearly $500,000 a day to the owner of the Clear Leader, one of the world's newest and most powerful drilling rigs. The new well off the coast of Louisiana will connect to a massive platform floating nearby, which cost Chevron $650 million to build. The first phase of this oil-exploration project took more than 10 years and cost $2.7 billion -- with no guarantee it would pay off. Now this new resources will balance the needs in oil for the new generation.

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