So, some really good news for once

[Block]

Saudia Arabia walks out on OPEC. Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

[CaptainChewbacca]

Saudia Arabia walks out on OPEC. Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

That's... really freaking crazy. All that handholding must've paid off.

[Superman]

Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

Brazil has been an American investors' wet dream for some time now. I've even made a few bucks investing in a couple Brazilian companies. This is good news.

[Dave]

Along with a drop in oil prices, we can also expect to see a drop in the interest in renewable and nuclear energy sources.

[Edi]

Saudia Arabia walks out on OPEC. Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

What deposit is that in Brazil? If it's the undersea one someways offshore, it could just as well be on Mars because it's located in place that is inaccessible with current technology.

[J]

Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

That "huge untapped deposit" is a whopping 4 billion barrels. Enough to keep the US running for oh...7-8 months. No cause for excitement nor celebration.

[Gil Hamilton]

Along with a drop in oil prices, we can also expect to see a drop in the interest in renewable and nuclear energy sources.

I don't know about that. The people are concerned with the problem know that this is a temporary respite at best. There are ALOT of companies working on the problem right now. I know it more from the petrochemical end of it relating to plastics, but for example, the big producers of plastics in the US are SCRAMBLING over each other to develop and commercialize plastics that don't have a drop of oil in their production and some of them are quite good (we saw three thermoplastics and another variety of plastics that currently going into making the panelling for John Deere tractors, on top of being compostable).

These sorts of things could allow us to escape the worst of the loss of oil as the primary energy source.

[Block]

Saudia Arabia walks out on OPEC. Not only that, but Brazil had confirmed that it has discovered an untapped, enormous oil deposit. So hopefully this means some relief for us for a while.

What deposit is that in Brazil? If it's the undersea one someways offshore, it could just as well be on Mars because it's located in place that is inaccessible with current technology.

A second one apparently http://www.marketwatch.com/news/story/a ... t=hplatest This one also may take some time to get to, but even if it's 5 years off, it's still something. I think it's showing that there's a lot more out there than the sky is falling people on here are estimating. Every little bit helps as long as its used as a bridge towards alternatives.

[Block]

Feh messed up the link somehow, could someone fix that for me when they get a chance please?

[Superman]

Along with a drop in oil prices, we can also expect to see a drop in the interest in renewable and nuclear energy sources.

Nah, we're too far. We've now got market big wigs like Boone Pickens running multimillion dollar market campaigns to promote alternate energy plans. Whether it happens quickly or slowly, oil's on the way out.

[J]

What deposit is that in Brazil? If it's the undersea one someways offshore, it could just as well be on Mars because it's located in place that is inaccessible with current technology.

It's in the same general area as the inaccessible one and may well be from the same or a very similar geological formation. Also note that the article states "oil equivalents" and not oil, given the depth it's likely to be mostly natural gas & natural gas liquids. Production will be problematic at best, if it's even possible.

[Macunaima]

You guys would never guess the amount of wankage that is going on around here these days about those new fields. There's been talking even of the creation of another state-owned oil company just for the exploration of those areas.

[Admiral Valdemar]

You guys would never guess the amount of wankage that is going on around here these days about those new fields. There's been talking even of the creation of another state-owned oil company just for the exploration of those areas.

Sure, go for it. But it will only sate your desires for any length of time (if you're smart, you won't sell it off now anyway). Otherwise, this stuff is pretty mediocre at best. It's no Ghawar, that's for sure.