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View Full Version : Brazil announces new 5-8billion barrel light oil find...


Toma
11-08-2007, 11:17 PM
http://news.bbc.co.uk/2/hi/americas/7086264.stm
G-ZUS
11-08-2007, 11:21 PM
Do they have weapons of mass destruction?
The Cosworth
11-08-2007, 11:27 PM
Originally posted by G-ZUS
Do they have weapons of mass destruction?

they do now
chongkee_
11-08-2007, 11:28 PM
they do now.. ^^ beat me to it
Toma
11-08-2007, 11:35 PM
:rofl:
Canmorite
11-09-2007, 12:54 AM
Originally posted by G-ZUS
Do they have weapons of mass destruction?



Originally posted by brendankharris


they do now

:rofl:

Petrobras was up 26% today on the NYSE.
Ekliptix
11-09-2007, 01:22 AM
That's approaching 1 trillion dollars in oil.
SilverRex
11-09-2007, 08:25 AM
shouldnt that finding lower the oil prices?
Toma
11-09-2007, 09:11 AM
Originally posted by SilverRex
shouldnt that finding lower the oil prices?
Takes time to put it in actual production...
benyl
11-09-2007, 09:40 AM
So much for running out of oil.

Wonder how that affects the peak oil theory.
SilverRex
11-09-2007, 09:45 AM
Originally posted by benyl
So much for running out of oil.

Wonder how that affects the peak oil theory.

you know, I wonder with this news, most of alberta's oil investment would leave and head south
benyl
11-09-2007, 09:50 AM
Hard to say, I know that a lot of South American countries have made it so that only National companies can get the oil. I think Venezuela kicked everyone out. I am not sure about Brazil.
Antonito
11-09-2007, 10:03 AM
Originally posted by benyl
So much for running out of oil.

Wonder how that affects the peak oil theory.

How does finding more of a non-renewable resource negate the fact that it's a non-renewable resource? :confused:

This is very good news, as the countdown clock just got set back a bit.
Toma
11-09-2007, 10:06 AM
Originally posted by Antonito


How does finding more of a non-renewable resource negate the fact that it's a non-renewable resource? :confused:

This is very good news, as the countdown clock just got set back a bit.
You do realize there are those who believe oil is not non renewable? ;)
Oz-
11-09-2007, 10:07 AM
Originally posted by benyl
Hard to say, I know that a lot of South American countries have made it so that only National companies can get the oil. I think Venezuela kicked everyone out. I am not sure about Brazil.

Lula da Silva started out as a leader of a left wing party. Calling him a socialist wouldn't have been a stretch, but he has slowly started to inch back towards the middle. This has been documented a lot in the south american news channels/papers and spurred a spinoff party from members of his old political party.

PetroBras controls some ungodly percentage of production and movements in Brasil. Wouldn't be surprised to hear it approaching 90-95%.
Supa Dexta
11-09-2007, 01:21 PM
yes it is the good stuff, light oil.. but 5-8bil barrels.. cough:

"Alberta Government calculates that about 28 billion cubic metres (174 billion barrels) of crude bitumen are economically recoverable from the three Alberta oil sands areas at current prices using current technology"
The Cosworth
11-09-2007, 01:24 PM
Originally posted by Supa Dexta
yes it is the good stuff, light oil.. but 5-8bil barrels.. cough:

"Alberta Government calculates that about 28 billion cubic metres (174 billion barrels) of crude bitumen are economically recoverable from the three Alberta oil sands areas at current prices using current technology"

does that mean we have MWD's?

Ralph was known for his drinking, maybe he cooked up some CRAZY shit when he was drunk
cosmok
11-09-2007, 05:21 PM
Originally posted by brendankharris


does that mean we have MWD's?


Measurement While Drilling? Yea, lots happens in Alberta..
The Cosworth
11-09-2007, 05:35 PM
Originally posted by cosmok


Measurement While Drilling? Yea, lots happens in Alberta..

:nut: haha I think the US just found their ticket... you bastard :whipped:















;)
alloroc
11-10-2007, 03:07 PM
Originally posted by Toma

You do realize there are those who believe oil is not non renewable? ;)

Yay oilgae ftw.
mikestang
11-10-2007, 03:40 PM
Alberta is friendly and still very cheap for all oil companies - even with the recent tax introduced...

Most foreign countries are very harsh with oil companies not local... we still have the largest reserves in the world, and that is why we will never get shafted by the oil companies.

"Alberta Government calculates that about 28 billion cubic metres (174 billion barrels) of crude bitumen are economically recoverable from the three Alberta oil sands areas at current prices using current technology."

That included with the undiscovered oil known to be beyond this, puts us past saudi... as for discovered.. we're only second behind saudi.
88CRXGUY
11-10-2007, 03:48 PM
Oh goody another country that bush can go and bomb and say they're terrorist there, and steal the oil.
mikestang
11-10-2007, 03:54 PM
Originally posted by 88CRXGUY
Oh goody another country that bush can go and bomb and say they're terrorist there, and steal the oil.

You do know we supply most of the US's oil, right? even more than saudi?
kaput
11-10-2007, 06:51 PM
.
Darkane
11-10-2007, 09:19 PM
The russian Island has the most Natural gas, and alberta is the Second largest oil reserve.

Peak oil refers to the amount being consumed at the CURRENT time vs production, Not total reserves vs total consumed over a period of time.

FYI we got so much oil it's not even funny.