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Posts tagged “oil reserves”

By Robert Rapier on Nov 9, 2007 with no responses

Brazil’s New Oil Discovery

You may have seen in the news that Brazil has made a new oil discovery. It is always hard to judge how much is hyperbole, but they are excited about it: Offshore oil discovery could make Brazil major petroleum exporter RIO DE JANEIRO, Brazil: A huge offshore oil discovery could raise Brazil’s petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world’s major exporters, officials said. The government-run oil company Petroleo Brasileiro SA, or Petrobras, said the new “ultra-deep” Tupi field could hold as much as 8 billion barrels of recoverable light crude, sending Petrobras shares soaring and prompting predictions that Brazil could join the world’s “top 10″ oil producers. “Brazil’s reserves will… Continue»

By Robert Rapier on Nov 8, 2007 with 16 responses

Dear Saudi: Stop Hogging Our Oil!

Raymond J. Learsy, author of Over a Barrel,is an idiot. How he managed to write a book will always be a mystery to me. Every time I read one of his screeds over at Huffington Post, I feel dumber afterward. Today’s is no exception: As Oil Approaches $100, is Saudi Arabia Waging Resource Aggression Against the American People and the World Economy?! Learsy is upset because Saudi won’t provide the U.S. oil at the price we like. He accuses them of therefore waging aggression against the U.S. I posted a comment following his essay, but they usually don’t post my comments. But what I said was to consider if the roles were reversed. Let’s say Saudi loves American timber. They… Continue»

By Robert Rapier on Dec 8, 2006 with no responses

Amazing U.S. Oil Production Statistic

While preparing my response to Jeffrey Brown on the exports debate, I read as much as I could on Saudi Arabia, their exports, and their reserves. It is pretty common knowledge that the entire world is at the mercy of Saudi’s reserves, so it is important that we know the size of their reserves. The “official” number (from BP’s Statistical Review of World Energy) is 262 billion barrels remaining. If this was in fact true, then Peak Oil is very distant (although Peak Lite would still be a threat). However, many are skeptical of this number. The case for a much lower reserve number was argued by Matthew R. Simmons in Twilight in the Desert: The Coming Saudi Oil Shock… Continue»