Posted on 11/14/2007 3:17:31 AM PST by ovrtaxt
Brazil has announced the discovery of a huge offshore oil field that could contain between 5 to 8 billion barrels of oil, enough to expand the country's proven reserves by 40 to 50 percent.
The "ultra-deep" Tupi field was found under 7,060 feet of water, another 10,000 feet of sand and rocks and a further 6,600 feet of salt – a total of 4.48 miles below the surface of the Atlantic Ocean.
Sergio Gabrielli, the chief executive officer of the state-run oil firm Petroleo Brasileiro SA told Brazil's President Luiz Inacio Lula da Silva Monday that reserves in the pre-salt area off Brazil's coast are much larger than the Tupi field, possibly containing as much as 80 billion barrels in oil reserves.
By specializing in advanced ultra-deep offshore oil exploration, Brazil has moved from being a country dependent on Ethanol for its gasoline consumption to becoming a net exporter of oil within less than a decade.
Felipe Cunha, an oil analyst with the San Paulo-based brokerage Brascan told CNN, "If the best-case scenario happens, this discovery would make Petrobras' reserves overcome those of Shell and Chevron and put Petrobras behind only Exxon and British Petroleum."
Brazil's offshore oil is being found in the Espirito Santo, Campos and Santos Basins some 50 miles into the Atlantic Ocean east of Rio de Janeiro.
(Excerpt) Read more at worldnetdaily.com ...
But...but...but....PEAK OIL!!!1!!!
/sarc
It is time to drill the United States.
"The discovery challenges "peak oil" theorists who contend the Earth's supply of oil is running out.
The geological description of the Campos Basin is consistent with the abiotic theory, that oil is formed inorganically, within the mantle of the earth, and seeps up into reservoirs formed in porous sedimentary rock deposits.
Brazil's huge offshore oil find also challenges U.S. advocates of ethanol.
Algore is greatly saddened.
I can already here the leftzis screaming now.
Umm...no it isn't.
This oil was discovered the usual way by people who believe oil is biotic, and it's in a place where you'd expect biotic oil.
Never has anyone expended more words on a subject they know nothing about more than Jerome Corsi and petroleum.
The other thing people have to realize is that accepting petroleum is biotic doesn't mean you're a backer of "peak oil."
Why are oil fields always found at the wrong spots at the wrong time?
You should write an article.
I know nothing about geology, but I do find it interesting. Especially as it relates to the oil business.
That’s suppose to be “hear”. Note to self: Don’t start typing until I actually wake up.
Good excuse to hit $100/bbl today.
” It is time to drill the United States.”
its time to simply uncap and pump those wells underwater in the lakes of TX
“the geological description of the campos basin is consistent with the abiotic theory, that oil is formed inorganically, within the mantle of the earth, and seeps up into reservoirs formed in porous sedimentary rock deposits..”
“ummmm....no it isn’t.”
there you have it. the theory of abiotic oil debunked along with the entire mind of another human being...
brilliance, shear brilliance, from so many thousands of miles away; absolute brilliance!
Long past time.
Thank you. Straight to the bloodstream for instant effect. You don’t have a pancake and maple syrup iv to go with that do you?
“Brazil’s huge offshore oil find also challenges U.S. advocates of ethanol.”
For sure. The notion of utilizing ethanol to suppliment gasoline was built upon false premises from the get go. Ethanol producers are being subsidized by our tax dollars to the tune of $0.50 per gallon. Plus, ethanol E-85 gets about 30% less miles per gallon. Then, there’s the run-up in the price of my Cheerios. If our legislators (the “we’re here to help you” crowd) would only allow the free market to do it’s work, we would still be paying less than a $1.00 per gallon for gasoline and diesel...
80 billion barrels? The 8 billion barrel number was huge but 80 billion is astronomical. Makes you wonder what’s off our shores. Of course, we’ll never know.
It is long past time to drill in the United States.
There, that's fixed.....
At least I didn’t write an entire book without the vaguest understanding of the theory I was attacking, as Corsi did.
He apparently actually believes that biotic oil means people believing oil comes from “dinosaurs” rather than marine and lacustrine plankton and diatoms. I have a suspicion he doesn’t know what a diatom is.
I’m awaiting his book about abiotic coal.
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