H15881
Headlines : EnvironmentBrazil: High Hopes For Huge Oil Discovery
God is Brazilian – Headline in the Correio Braziliense newspaper
“This has changed our reality,” said Dilma Rousseff, possible Brazilian Presidential successor
Oil experts said it was the biggest find anywhere in the world for at least seven years and would push Brazil’s reserves into the global top 10 but comparisons to Saudi Arabia may be over-optimistic. Brazil’s total reserves will rise to about 20bn barrels as a result of the discovery, compared with Saudi Arabia’s 260bn, whose daily production is four times that of the Brazil.
Remember, folks: we [globally] use ~85million barrels a day.
8bn barrels(bbls)= 8.00×10^9 bbls, & 85 million bbls/day = 85×10^6 bbls/day.
Republished from The Guardian Ultd.
Brazil was celebrating one of the world’s biggest oil discoveries of recent years yesterday, a huge deposit off the coastline of Rio de Janeiro, which officials claim will take it into the major league of the world’s biggest energy powers.
The find at the Tupi field, about 155 miles off Rio, could yield a total of 8bn barrels of light crude and represent 40% of the oil ever found in Brazil.
Dilma Rousseff, chief of staff in the president’s office and tipped as a possible successor, said the discovery could propel Brazil “to the level of Saudi Arabia and Venezuela”.
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The U.S. policy since 1947 has been to save US stocks (pretending they are low quality/declining) and use the supply of others… why? so we can use up the supply that would be available to competitors, and still have ours at the end of the day. More than that, the US (corporations) took control of more than half the extra-national oil, so japan and germany and china have to buy their fuel, mostly, from us… their development profits us more than them, except in the we are all beng polluted to death so really none profit pov
celebrate more pollution!
While 8 billion barrels of oil at today’s prices is a very valuable find, it is just another drop in the global oil demand bucket and really won’t have much of a global impact, especially in terms of the time it will take to develop, though it should provide an energy/economic cushion for Brazil.
Exactly..just a drop in the bucket…94 days worth of global consumption at todays rates…
Humanity burning through almost 4 trillion a year in oil alone.
That is a mind blower.
Peace,