Sunday, November 30, 2008
Oil - Brazil seems to have it
I figure it's time for the U.S. to get on Brazil's good side...
At the Christian Science Monitor website, Sara Miller Llana reports:
"More than 180 miles off Brazil's coast, trapped under a few miles of water, rock, and salt, lie billions of barrels of light, sweet crude – the largest discovery of oil in the Western Hemisphere in a generation.
Accessing it will require some of the most advanced technology on the planet. But Brazil, once a heavy importer that celebrated its 'oil independence' only two years ago, is uniquely positioned to extract reserves trapped millions of years ago when South America and Africa began to separate. The state-controlled oil company, Petroleo Brasileiro (Petrobras), says it will begin production by 2010.
The potential is enormous. "
