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.
