Seriously, I hope Brazil can reach this oil, if only to pull some of the oil market away from the Middle East and Communist countries like Venezuela and Russia.
” No. 12 position in oil reserves, after the United States and ahead of Canada and Mexico.”
Wrong, wrong, wrong! Canada would still have over 10 times the oil reserves of Brazil.
Takes the mystery out of what the oil companies do with all that money, doesn't it? It takes a LOT of money to find oil, and they could spend millions on a dry hole, and likely do, every day, looking for those big ones.
Private industry could get this oil up for likely a fraction of the cost. Too bad for Brazil, this payday will shrink them further into socialism...
The story of a major find of 8 billion barrels is reported all over the world. And the democrats and environmentalists still say the +10 billion barrels in ANWR is too small to go after.
That is quite an engineering problem there. Quite a challenge for a young engineer/oceanographer.
This cannot be possible because RightWhale assures us all that “peak oil” has been reached.
The Amazon basin/delta/offshore is likely to have the biggest oil deposits in the world but the big ones haven’t been found yet.
Sounds like they just need to go a little deeper like in this example.
He's apparently never heard of the U.S. Congress.
What were all those dinosaurs doing, way down there?
Bad news for the “peak oil” crowd.
bump
8 billion barrels of light oil and natural gas... worth as much as $60 billion... About 70 percent of Petrobras' oil production comes from deep-water wells, making it the world's biggest oil producer at such depths. But the Tupi deposit is deeper than Petrobras has ever drilled -- under 7,000 feet of ocean water and more than 16,000 feet of rock, sand and salt, including a 1.2-mile-thick layer of rock-hard salt.
the Tupi field 180 miles off the southeastern Brazilian coast... under 7,000 feet of ocean water and more than 16,000 feet of rock, sand and salt, including a 1.2-mile-thick layer of rock-hard salt.Gee, how'd that get there? ;')
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http://news.bbc.co.uk/2/hi/business/3777413.stm
[snip] ...Much of ASPO’s [Association for the Study of Peak Oil] predictions stem from the calculations of Dr Campbell. His work on oil reserves has long suggested that many official oil data are either flawed estimates or at worst downright lies... False reserves threaten the security of energy supply, just as do bombs under pipelines. Dr Campbell’s conclusion: oil production and consumption should be regulated by governments. “Many reserve figures are highly questionable,” says Dr Campbell. “Many great oil fields are increasingly old and inefficient. But I don’t think oil is easy to produce with a sniper behind every palm tree. The way to increase energy security is to reduce demand,” he says. [end]
You heard the man — oil production and consumption should be regulated by gov’ts.
bttt