Actually, there have been a number of significant finds recently: Exxon recently hit a big field in the gulf and there was another found in the gulf last fall by a group of companies that dwarfs Exxon's find. I think Shell might been in on that one. And the Alberta oil sands are not very new, but I believe they are estimating that to be the second largest oil reserve in the world. And they're finding big stuff off the coast of Brazil.
There are also companies now who are specializing in going back to old abandoned wells and applying new technologies to extract the 40-50% of the oil field that is typically left behind due to insufficient pressure for normal wells.
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