December 28, 2005
THERE'S MORE WHERE THAT CAME FROM:
Huge new oil discovery in Brazil (BBC, 12/28/05)
Brazil's state-owned oil company, Petrobras, says it has discovered a huge new offshore oil field off the coast of Rio de Janeiro state.Posted by Orrin Judd at December 28, 2005 5:18 PMThe Papa-Terra field was found in the Campos Basin, which is already Brazil's most important oil-producing region.
Petrobras estimates it contains at least 700 million barrels of crude - about 10% of Brazil's current reserves. [...]
The new field is expected to help Petrobras achieve its goal of making Brazil self-sufficient in oil. Since 2003, the company has been meeting 91% of the country's needs.
This might help continue the decline in oil and gas prices.
Posted by: AWW at December 28, 2005 5:48 PMBut. . . but. . . .there might be an oil spill off Rio's pretty beaches that woyuld drive away tourists! We must take to the streets in protest. Who's with me???
Posted by: obc at December 28, 2005 5:53 PMScrew the beaches. After we pump Iraq dry, we need to invade Brazil.
Posted by: AllenS at December 28, 2005 6:08 PMHuge find. Perhaps, but how come ANWR's 5 bn to 30 bn barrels in place resources, 600 million to 9 bn barrels recoverable is always deemed "not worth it a caribou's dung heap..."?
Posted by: MGNC at December 28, 2005 6:10 PMBut the Hubbert Peak Cultists say we're out of oil! How can this be?
Posted by: kevin whited at December 28, 2005 6:33 PMSend in the Greenpeace fleet. Chavez will fund them.
Posted by: Genecis at December 28, 2005 9:24 PMThere is oil under Barbara Streisand's living room. We need to drill there.
Posted by: Robert Schwartz at December 28, 2005 9:29 PMdon't ever mention drilling and BS in the same sentence, it's horrible.
Posted by: james b. at December 28, 2005 9:59 PMAnother mistake by the BBC? Must be, because the Seattle Times was assuring us, just a few days ago, that there was only a "small amount" of oil in ANWR.
Posted by: Jim Miller at December 29, 2005 8:56 AM