Posted on 01/17/2008 10:10:22 AM PST by OldGuard1
Brazil has signed a deal with Cuba to begin exploring its potentially oil-rich waters in the Gulf of Mexico in exchange for a multimillion-dollar aid program.
Brazilian President Luiz Inacio Lula da Silva met with acting Cuban leader Raul Castro Tuesday in Havana to ink the deal that would give Brazil's Petrobras access to Cuban waters, where it hopes to begin drilling in the next two years.
Joining Lula on his trip was Petrobras chief Jose Sergio Gabrielli. While Petrobras and Cuba already have a longstanding relationship, Tuesday's agreement marked the first time the Brazilian company would be granted access to the gulf area coveted by several nations, including China and India.
According to the U.S. Geological Survey, some 4.6 billion barrels of crude oil and 9.8 trillion cubic feet of natural gas may well be lurking below the ocean floor of the Northern Cuban basin. The reserves are said to possibly rival the estimated reserves in Alaska's Arctic National Wildlife Refuge.
(Excerpt) Read more at energy-daily.com ...
The faster you use it up, the more prices rise, and the more America-hating dictators profit. And I’d love to believe that we could seriously cut our imports with untapped domestic supplies, but let’s be serious; they’d help, but they’re not nearly enough (excepting coal liquefaction, which is underway despite the greenies hate of it, and oil shale, which isn’t profitable yet)
Coal liquefaction (as well as Canadian bitumen) will give us plenty of oil, enough to meet our needs if we so require, but it’ll continue to be expensive oil. It’s dirty, too, which increases the odds of Rats and RINOs, as well as the leftist majorities in Canada, trying to ban or cut back on it. Alternative fuels are a stopgap, sort of like tapping our untapped oil reserves; they help a little, but not nearly enough. The only major way we can get back to cheap travel is for a relevant percentage of the world’s vehicles to become EVs or plug-in hybrids (there are few limits on how much electricity we can produce, thanks to huge supplies of coal and centuries of nuclear fuel, plus even our huge existing off-peak capacity). Even for those who don’t drive EVs/plug-ins, prices would drop, as the demand on oil would drop, which would lower gas prices for all.
EVs/plug-in hybrids are one “green” tech that I actually like. Anything that gives me more horsepower in a lighter engine, cuts my cost per mile, and sticks it to Iran, Venezuela, Cuba, and Russia all at the same time gets good marks in my book.
I’m not placing any bets on Raul. Once El Commandante goes, all bets are off. Of course I could be wrong, but I don’t think so.
Its not our oil.
Oil bump for later......
Lulu was head of the Brazilian Workers Party when he ran for President in 1989. One communist for another.
he ran a few times before he was elected - always with red flags flying
I agree, but not just Jeb, but the whole state of Florida.
They have some of that same mentality that California has about drilling for oil.
They think its better to send large sums of cash to Middle Eastern countries than to drill for what is at our front doorstep...
This map tells quite a story.
Some respected geologists think there is another Alaska-sized amount of oil in the eastern Gulf of Mexico.
Why arent we drilling over there....
More than just the Cuban Basis, read up on the Mississippi deep-sea fan.
Is Petrobras a state-owned oil company?
LOL
Find oil, then respect.
That’s a problem. Should probably have majored in political science instead of geology if somebody is looking for respect.
Hey, I live in Florida..they can drill right down the street from me...I don’t care. I am sick of foreign dependence on oil.
Bump for later reading
Probably next to the Chinese ones:
China Drilling Near Florida
The presence of Chinese oil rigs, there by agreement with Cuba, within view of the Florida coastline has irked state residents. Cuba has announced it will expand those operations.
"I saw all kinds of wells with Chinese writing on them just south of the Keys," Leonard Gropper, a Marathon, Florida retiree, told the June 20 Orlando Sun-Sentinel.
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