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Author Topic: Brazil Discovers Huge Oil Reserve  (Read 1671 times)

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Offline Chris_

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Brazil Discovers Huge Oil Reserve
« on: April 16, 2008, 05:05:47 PM »
Brazil Discovers Huge Oil Reserve

Peak Oil!!!!!

Oh.  Wait...


SAO PAULO, Brazil - A deep-water exploration area could contain as much as 33 billion barrels of oil, an amount that would nearly triple Brazil's reserves and make the offshore bloc the world's third-largest known oil reserve, a top energy official said Monday.

National Petroleum Agency President Haroldo Lima cautioned that his information on the field off the coast of Rio de Janeiro is unofficial and needs to be confirmed — but his comments sent shares of state-run oil company Petrobras soaring in New York and Sao Paulo.

Petrobras said in a statement that more studies are needed to determine the potential of what could be the planet's largest oil find in decades. Analysts said the magnitude of the find, if confirmed, could have far-reaching global energy ramifications.

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Offline Chris_

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Re: Brazil Discovers Huge Oil Reserve
« Reply #1 on: April 16, 2008, 06:11:56 PM »
Brazil Discovers Huge Oil Reserve

Sadly, it is named "Venezuela."

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Offline Airwolf

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Re: Brazil Discovers Huge Oil Reserve
« Reply #2 on: April 16, 2008, 07:24:52 PM »
And yet the price of gas and a barrel of oil continue to climb faster the an F-15 in full after burner.
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Offline RightCoast

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Re: Brazil Discovers Huge Oil Reserve
« Reply #3 on: April 16, 2008, 08:48:10 PM »
Quote from: Chris on April 16, 2008, 05:05:47 PM
Brazil Discovers Huge Oil Reserve

Peak Oil!!!!!

Oh.  Wait...


SAO PAULO, Brazil - A deep-water exploration area could contain as much as 33 billion barrels of oil, an amount that would nearly triple Brazil's reserves and make the offshore bloc the world's third-largest known oil reserve, a top energy official said Monday.

National Petroleum Agency President Haroldo Lima cautioned that his information on the field off the coast of Rio de Janeiro is unofficial and needs to be confirmed — but his comments sent shares of state-run oil company Petrobras soaring in New York and Sao Paulo.

Petrobras said in a statement that more studies are needed to determine the potential of what could be the planet's largest oil find in decades. Analysts said the magnitude of the find, if confirmed, could have far-reaching global energy ramifications.



Those who achieve Oil Independence will be rewarded with bounty.
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