More Oil … So Much For “Peak Oil”
I really do like poking the “OMG WE’RE RUNNING OUT OF OIL” retards with a stick every chance I get. So here is yet another one:
April 24 (Bloomberg) — Brazil’s discoveries of what may be two of the world’s three biggest oil finds in the past 30 years could help end the Western Hemisphere’s reliance on Middle East crude, Strategic Forecasting Inc. said.
Saudi Arabia’s influence as the biggest oil exporter would wane if the fields are as big as advertised, and China and India would become dominant buyers of Persian Gulf oil, said Peter Zeihan, vice president of analysis at Strategic Forecasting in Austin, Texas. Zeihan’s firm, which consults for companies and governments around the world, was described in a 2001 Barron’s article as “the shadow CIA.”
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Brazil’s state-controlled Petroleo Brasileiro SA in November said the offshore Tupi field may hold 8 billion barrels of recoverable crude. Among discoveries in the past 30 years, only the 15-billion-barrel Kashagan field in Kazakhstan is larger.
Haroldo Lima, director of the country’s oil agency, last week said another subsea field, Carioca, may have 33 billion barrels of oil. That would be the third biggest field in history, behind only the Ghawar field in Saudi Arabia and Burgan in Kuwait.
Yeah, the Brazil oil market is state-controlled, but at least they are a little friendlier than those controlling many of the fields in the Middle East. But the point is this - look, we keep finding more and more oil while some nitwits are out there tell us that there is less and less available and that we are running out. These are the same kooks that are pushing “alternative” fuels and taking tax payer dollars to subsidize things that the people don’t want.
When are we going to stop listening to the kooks?
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