re: Scientists discover more efficient way of extracting oil from existing wells

As a petroleum engineer this could be good; it's not something that isn't understood by anyone who graduated with the degree. We actually cover thoroughly about oil-water-gas-rock contact with each other and the associated physics. Whatever the discovery is that this guy has will most likely be available to only the Majors (Shell, Chevron). I'd imagine engineering dealing with something that incredibly small will be expensive. Bottom line is it's only help to have more jobs.