"So far, Jacobsen only has evidence that the watery rock sits beneath the US. He now wants to find out if it wraps around the entire planet."
EDIT: 2% = 1/50th of the surface. 3-oceans * 50 = 150. (1 * all earth's oceans) / (150 * all earth's oceans) =~ 0.00666...
So oceans only occupy 0.00123% of the Earth's volume. There's a lot of room below us.
[1]: http://ngdc.noaa.gov/mgg/global/etopo1_ocean_volumes.html
[2]: http://nssdc.gsfc.nasa.gov/planetary/factsheet/earthfact.htm...
So it will be significantly less than 150 times more than surface oceans. Still huge probably.