Brazil sets sights on increasing oil production

Oil & Gas Journal ^ | June 29, 2008 | Eric Watkins

[thackney]

He pointed out that the experts attribute the higher price of petroleum to several things such as rising consumption in China or the increasing use of reserves in the US.

Anyone have an idea what "increasing use of reserves" he is talking about?

[Bulldawg Fan]

Only one country with the ability to go after new oil reserves is not doing so. And its a direct result of the 1060s, “I hate America” crowd now taking on the environmental cause. Strangle America, force the economy into recession and do all you can to destroy the country.

[newfreep]

And its a direct result of the 1060s, “I hate America” crowd...

Wow, now THAT'S really old school! :-)

[Perdogg]

And Lulu’s a communist/socialist

[Ben Ficklin]

Strategic Reserves?

[Vaquero]

DRILL HERE....DRILL NOW!!!!!!

yes I'm yelling.

[agere_contra]

No kidding. William of Normandy really had a problem with America :0)

[NewJerseyJoe]

Don’t those Brazilians know that they can’t drill their way out of this??

[FormerACLUmember]

Brazil is not run by the kind of complete, flaming *ssholes found in the US Congress.

Reid/Pelosi are the worst congressional leaders in American history. To be turbocharged in their mega-incompetence and freezer full of cash corruption should Hussein ever seize the Presidency.

The reason Brazil is soon to be self sufficient in oil and we are not:

[Prokopton]

And Lulu’s a communist/socialist

Yes, and isn't it pathetic that they are now more forward thinking than the American'ts that now "lead" our Country.

[thackney]

But we are not withdrawing from our reserves.

If they are talking about the amount going into the SPR, that has been 36.7 thousand barrels per day for the last couple months.

http://www.spr.doe.gov/dir/dir.html

For a comparison, the average petroleum use for the US declined an average of 1,143 thousand barrels per day over approximately the same period.

http://tonto.eia.doe.gov/dnav/pet/hist/mttupus2m.htm

So the decrease in US consumption is 30 times larger than the amount going into the reserve. If that was the claim, it is obviously BS.

[RightWhale]

Why? Nobody outside FR can hear you.

[avacado]

"Anyone have an idea what "increasing use of reserves" he is talking about? "

I take it that he means that we are increasingly using up our known reserves. Just my opinion though.

[NoLibZone]

That will take years.

Liberals say anything that takes years should not be pursued.

[cake_crumb]

He sure as heck can’t mean we’re using the US oil reserves.

[cake_crumb]

"In Lula's opinion, the stand by US Democratic presidential hopeful Barack Obama against purchasing Brazilian ethanol and John McCain's stand in favor of it are just part of an election strategy."

I'm FAR more interested in McCain's call to open OUR OWN oil fields offshore. However, I like the Brazilian president. He seems to be a very smart man.

[cake_crumb]

How can we be using up our own reserves? They’re reserves. We’re building them up because we’re adding to them and NOT using them. This can result in lower heating bills this winter, regardless of whom is elected.

[avacado]

Not the Strategic Reserves. Just production reserves and known reserves.

[RightWhale]

Lulu is a communist/socialist as noted above.

[cake_crumb]

AH. And how do we do this without opening up those known reserves for exploitation?