Article

2008-04-24 Caribbean-Latin America

Brazil Oil Finds May End Reliance on Middle East

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Posted by GolfBravoUSMC 2008-04-24 13:47|| || Front Page|| [5 views ] Top

#1 Petrobras

Why do I have mental images of Brazilian supermodels when I read that?

Posted by BA 2008-04-24 15:06|| 2008-04-24 15:06|| Front Page Top

#2 By 2020?
Too late.
The oil crunch is now

Posted by Omoque Pelosi8695 2008-04-24 15:11|| 2008-04-24 15:11|| Front Page Top

#3 Petrobras, Chevron Corp., Royal Dutch Shell Plc and Norsk Hydro ASA plan to start pumping oil from eight Brazilian fields in the next 2 1/2 years that will produce a combined 1.02 million barrels a day, enough to supply two-thirds of the crude used by U.S. East Coast refineries.

Definitely good news. Anything that breaks the OPEC stranglehold would be good news. So when can we expect the price of gasoline at the pump to come down or should I be more cynical?

Posted by JohnQC 2008-04-24 16:13|| 2008-04-24 16:13|| Front Page Top

#4
``We could see that world becoming a very violent one,'' said Zeihan, former chief of Middle East and East Asia analysis for Strategic Forecasting. ``If the United States isn't getting any crude from the Gulf, what benefit does it have in policing the Gulf anymore? All of the geopolitical flux that wracks that region regularly suddenly isn't our problem.''

that's a feature, not a bug....

between this, green gas, frankenfoods, yup, America extends its dominance to the 21st century as well........

Posted by anonymous2u 2008-04-24 16:25|| 2008-04-24 16:25|| Front Page Top

#5 Cynical, John, be more cynical.

Posted by Steve White">Steve White 2008-04-24 18:34|| 2008-04-24 18:34|| Front Page Top

#6 Demand goes up due to economic growth
Price = Demand ~/ Supply
Price goes up (no lag)
Supply = Price ~/ Demand
Demand = Supply ~/ Price
Supply increases (big lag)
Demand falls (small lag)
Price = Demand ~/ Supply
Price falls

Posted by Bright Pebbles 2008-04-24 19:53|| 2008-04-24 19:53|| Front Page Top

#7 Nope.
Those rules do not apply when it comes to oil.

Posted by Omoque Pelosi8695 2008-04-24 21:22|| 2008-04-24 21:22|| Front Page Top

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