"The discovery challenges "peak oil" theorists who contend the Earth's supply of oil is running out.
The geological description of the Campos Basin is consistent with the abiotic theory, that oil is formed inorganically, within the mantle of the earth, and seeps up into reservoirs formed in porous sedimentary rock deposits.
Brazil's huge offshore oil find also challenges U.S. advocates of ethanol.
Algore is greatly saddened.
Umm...no it isn't.
This oil was discovered the usual way by people who believe oil is biotic, and it's in a place where you'd expect biotic oil.
Never has anyone expended more words on a subject they know nothing about more than Jerome Corsi and petroleum.
The other thing people have to realize is that accepting petroleum is biotic doesn't mean you're a backer of "peak oil."
“Brazil’s huge offshore oil find also challenges U.S. advocates of ethanol.”
For sure. The notion of utilizing ethanol to suppliment gasoline was built upon false premises from the get go. Ethanol producers are being subsidized by our tax dollars to the tune of $0.50 per gallon. Plus, ethanol E-85 gets about 30% less miles per gallon. Then, there’s the run-up in the price of my Cheerios. If our legislators (the “we’re here to help you” crowd) would only allow the free market to do it’s work, we would still be paying less than a $1.00 per gallon for gasoline and diesel...