Through The Static

April 14, 2008

Brazil oil field could be huge find

Filed under: World News — disciplepete @ 8:10 pm

From Yahoo:

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. (article)

If it’s legit, it could have some implications re: peak oil, as the article discusses. Should have some interesting political implications as well…


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