not so far fetched. It is just my personal opinion but I think the US has intentionally underreported it's reserves ever since oil was discovered. Why? Well gee people get suspicious if you are buying their's and not using yours if they know you have a lot. So why not just talk about how little oil we have.
I like the floating barrels better better than decomposed plants and animals. Just pick them barrels up and sell em. I hear the barrels that they find on the land are half-empty, but the ones floating around in the GOM are FULL. I do not know how they float (being full of oil and all), but they do.
Do you know what oil comes from? fossilised plants. PLANTS. The oil they're finding now in the ocean was once land populated with vegetation during prehistric time. Unfortunetly that is mostly thought to be already discovered.