Discovery Paves the Way to an Oil Peak

This column was originally published on RealMoney on Sept. 5 at 9:12 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. To learn more about RealMoney, including how to sign up for a free trial, click here.

An oil discovery worth noting -- hallelujah! From the beginning of this historic run in oil, I have said that you will not get a peak until we discover more oil and oil companies can flood the market with oil that's in safe, nonpolitical areas.

Like the Gulf of Mexico.

And we finally got some, this Gulf discovery by Chevron(CVX Quote), Devon(DVN Quote) and Statoil(STO Quote), deep under the waters covering the Jack field. ...