People keep asking me about this
7 billion barrels of oil supposedly found in Jamaica.
And I’m like, where are they getting this information from?
Cause there’s been no official announcement,
no press release, no nothing about any oil find.
And I finally found the source of the info.
It is this editorial published in the Observer July 12.
Observer is one of Jamaica’s biggest newspapers
and one of their editors is speculating
about what may have been found.
So they said that the explorers are behaving suspiciously
like they know something the rest of us are waiting to hear.
And here’s where that 7 billion number comes in
that they have apparently confirmed.
So this is not confirmed. As a matter of fact,
the article even says
that they still need to prove that substances that resemble oil are
indeed oil.
But there’s a lot of excitement about it.
They’re saying that this 7 billion barrels could be worth 23 billion U.
S. Dollars,
which would rival what they found in Guyana.
And of course, that would be a game changer for Jamaica.
They’re saying that this could double our GDP.
Now one thing I did find interesting,
this alleged oil would be way,
way off the coast of Jamaica
and they’re saying that to break even for drilling,
it would cost them $25 a barrel to get the oil,
which is very expensive cause oil is at $77 a barrel now.
But oil prices are known to fluctuate dramatically.
It could be Less than 20 sometimes,
sometimes more than 100. And so if prices fall,
it wouldn’t even make sense to drill for this oil. Now,
they’ve been looking for oil in Jamaica for over 80 years.
So if this is true, it would be a massive development. Stay tuned.