New giant oil field found, time for a new war
quarterpast
Posts: 185
http://news.yahoo.com/s/ap/20080415/ap_on_re_la_am_ca/brazil_oil
Wonder how quickly we'll start to buddy up to them.
Wonder how quickly we'll start to buddy up to them.
rock bands may come and rock bands may go...
but rock n roll will live forever! - ray davies
but rock n roll will live forever! - ray davies
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We're already pretty buddied up with Brazil. Maybe W will now designate them as a partner in our war of terror.
for whom
for you. and others.
ok
Yeah! Now we can still drive giant SUVs for an extra 10 years!
Lazy is a fitting name for you
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!
do you drive a car? and also, how does me thinking this is good news make me lazy? please explain. although my guess is you will run and hide. amazing the amount of unwarranted insults that get thrown around here. is everyone in high school on this board?
and reveling in it's loyalty. It's made by forming coalitions
over specific principles, goals, and policies.
http://i36.tinypic.com/66j31x.jpg
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really how so? oil helps about 250,000,000+ Americans get to work. most with NO other option but driving. it also heats many peoples homes, again, with NO other option. so please tell me, how does it help people enjoy laziness?
lazy and ignorant.. good combo
do people only throw insults around here? care to explain?
Yeah I heat my home with 87 octane... Open your eyes to the other options and you may see why people aren't so stoked on this. It's good for Brazil's economy, that's about it. Basically it will just help perpetuate our current situation. And if I remember correctly (as someone already pointed out, this is an old story) it's not the same type of crude as we get in say, Iraq. It needs more refining, the only reason they're going after it is that with today's prices it is more feasible to refine this type.
"Sometimes I think I'd be better off dead. No, wait, not me, you." -Deep Toughts, Jack Handy
if this oil makes it to market, hopefully supplies will go up and bring prices down. even if its a little bit, it will help everyone. people are stretched to thin with gas and heating prices.
you think oil prices are higher because there is a shortage?
there are many reasons why oil prices are high. supply/demand, OPEC, speculators.
here is an article released minutes ago..
http://news.yahoo.com/s/ap/20080415/ap_on_bi_ge/oil_prices
NEW YORK - Crude oil prices rose to within a penny of $114 a barrel Tuesday, setting new records as concerns mounted about global supplies. U.S. retail gasoline and diesel prices also struck new highs.
Traders honed in on a report by the International Energy Agency that said Russian oil production dropped this year for the first time in a decade. The report raised concerns about whether the key oil-producing nation will have enough supply to help feed growing global demand.
"In an emotionally driven market like we've got now, it just doesn't take much in the way of a headline to prompt a psychological response," said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Ill.
Light, sweet crude for May delivery rose as high as $113.99 a barrel for the first time on the New York Mercantile Exchange before settling at $113.79, up $2.03 from Monday's record settlement price of $111.76 a barrel.
would you consider oil to be an elastic good?
currently no. there are just too many cars on the road that use/need gasoline. and not enough feasible non-gasoline cars.
is it possible.. the more gasoline obtained.. the higher the price?
are these rhetorical questions? what the hell are you getting at?
and I'm still curious why you decided to insult me by saying im lazy and ignorant. whenever your ready.
This discovery is rumored to be in really deep water. Though Petrobras is know for being good at deep water drilling the expense of such drilling may be really huge. Thus reducing the amount of oil for the general public.
Oil ended today at what? 114 USD!!!
This "discovery" has not even been verified yet by the people that found it. I think there announcement of its existence was to help inflate its stock price. We see later in the year what the true amount is and how much is going to cost to get it.
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!
Here is what Petrobras has to say
http://www.agenciapetrobrasdenoticias.com.br/materia.asp?id_editoria=8&id_noticia=4769
Clarifications on the discovery in the Carioca area
Publicada em 14/4/2008 18:19:43
Foto: AGÊNCIA PETROBRAS
Regarding the information attributed to the general director of the National Oil, Natural Gas, and Biofuels Agency, Haroldo Lima, published by the press today (04/14) regarding possible reserves located in the Carioca area, Petrobras clarifies that:
The consortium formed by Petrobras (45% - Operator), BG (30%), and Repsol YPF Brasil (25%) is still following its exploratory program for Block BM-S-9, in the Santos Basin. The Block is composed of two exploratory areas. Well 1-BRSA-491-SPS (1-SPS-50) was drilled in the largest of them, and resulted in the discovery announced on September 05 2007. On that occasion, the market was informed that more investments are required to drill new wells, the Assessment Plan for which is in its final preparation phase and is expected to be submitted to the NPA in the upcoming days.
Following the normal exploration schedule, on March 22 2008, the Company started drilling the second well, the 1-BRSA-594-SPS (1-SPS-55), which is located in the smaller area of the block, but it has yet to reach the pre-salt layer. The ongoing exploratory activities include drilling new wells, long-duration formation tests, and new geological studies to prove the range of the discovery.
More conclusive data on the discovery’s potential will only be known after the other phases involved in the assessment process have been completed, and they will be announced to the market in a timely manner.
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!
I didnt read anywhere that this would be "world saving" why are you so cynical towards finding more oil?
Its in your original yahoo news post
"This would lay to rest some of the peak oil pronouncements that we were out of oil,"
Cynical? No. Realist yes. There is no cheap oil left NONE ZERO ZIP!!!
So yes when someone comes along and says they have found this huge new supply I am going to be very skeptical.
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!
last I checked the earth is rather large and undiscovered. I love your use of ALL CAPS but how the hell do you know there is no oil left? and secondly, once oil is discovered, why not take it as great news? I'll take any news that will potentially bring down the price of oil
I said cheap oil. There is a differance. The cost of getting oil out of the ground is going up and up. That will not change.
Bringing down the cost of oil will only perpetuate the inefficiant energy waisting world we live in. And will only serve to put off into the future the end of the oil age.
It is almost like your wishing for a 1980s event and somebody is going to rescue the US with the gift of cheap oil.
~Ralph Waldo Emerson~
The Tie-Dye Lady is HOT!!!