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Caelus lands massive oil discovery in Alaska
CNN: In a press release Tuesday, the company announced its discovery could yield between 6 billion and 10 billion barrels of light oil -- which is recovered from the ground more easily than other types of oil. As perspective, about 79 million barrels of crude oil are produced in the world each day, according to the U.S. Energy Information Administration.
Caelus estimates it will be able to recover about 30% to 40% of that oil -- making the discovery one of the largest ever in Alaska.
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