Friday, November 09, 2007

Time To Cozy Up To Brazil

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How do you say "I love you" in Portuguese?

The Brazilians hit paydirt with their recent discovery of light oil off their coast:

Petrobras, Brazil's national oil company, says it believes the offshore Tupi field has between 5bn and 8bn barrels of recoverable light oil.

A senior minister said Brazilian oil production had the potential to match that of Venezuela and Saudi Arabia.
That's a very significant discovery and one that could help keep some of our supply in the western hemisphere. With Chavez going the Castro route and volatility in the Mideast, a new source that can be exploited quickly is good news for Brazil--a country that has major poverty issues. Let's hope they can use the profits for good.

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