| Subject: Re: Here's some info on what e10 is doing. |
Author:
larry
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Date Posted: 14:54:09 11/14/07 Wed
In reply to:
Duncan7
's message, "Re: Here's some info on what e10 is doing." on 11:04:38 11/12/07 Mon
>It's not without its faults (what is?), but this is
>all very easy to control. My point with subsidies on
>ethanol production is, is that alot more good comes
>out of it. Farmers are getting busy again, any relief
>from the dependancy on foriegn oil (or any oil for
>that matter) is a good thing and now that crude is
>hitting $100 a barrel you guys are in for a rough time
>soon. I'm certainly not saying ethanol is the end all
>beat all solution to our energy problems, but it damn
>sure isn't hurting and the sooner people realize we
>need alot more diversity in our energy sources the
>better off we'll be.
>
Brazil reports massive oil discovery
Ultra-deep offshore find challenges 'peak' theorists pushing ethanol
Brazil has announced the discovery of a huge offshore oil field that could contain between 5 to 8 billion barrels of oil, enough to expand the country's proven reserves by 40 to 50 percent.
The "ultra-deep" Tupi field was found under 7,060 feet of water, another 10,000 feet of sand and rocks and a further 6,600 feet of salt – a total of 4.48 miles below the surface of the Atlantic Ocean.
Sergio Gabrielli, the chief executive officer of the state-run oil firm Petroleo Brasileiro SA told Brazil's President Luiz Inacio Lula da Silva Monday that reserves in the pre-salt area off Brazil's coast are much larger than the Tupi field, possibly containing as much as 80 billion barrels in oil reserves.
By specializing in advanced ultra-deep offshore oil exploration, Brazil has moved from being a country dependent on Ethanol for its gasoline consumption to becoming a net exporter of oil within less than a decade.
Felipe Cunha, an oil analyst with the San Paulo-based brokerage Brascan told CNN, "If the best-case scenario happens, this discovery would make Petrobras' reserves overcome those of Shell and Chevron and put Petrobras behind only Exxon and British Petroleum."
Brazil's offshore oil is being found in the Espirito Santo, Campos and Santos Basins some 50 miles into the Atlantic Ocean east of Rio de Janeiro.
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