Maybe you've heard that Mexico has announced the discovery of a huge new oil field ...Given the price and global demand, this might be the best timing for a crude-related windfall since Jed became a millionaire. "Each country claims the right to explore and develop their outer-continental shelf, and an agreed upon distance beyond that," says Dr. Shari Dunn-Norman, a professor of petroleum engineering at UMR. "This is a huge field if what they are saying is correct."

Dunn-Norman, an expert in offshore oil and gas production, thinks the discovery could secure the supply to Mexico for some time to come. "This will certainly have a positive impact on the United States as well," she says, "since Mexico exports about half of what they produce to the U.S."

Dunn-Norman speculates that it will take 18-36 months for Mexico to start production in the new field. Meanwhile, U.S. drilling in the Gulf of Mexico is just starting to get back to normal after last year's hurricanes.