Monday, April 14, 2008

Oil, oil everywhere Part II

Apparently good fortune has smiled on Brazil off the coast of Sao Paulo today where potentially 33 billion barrels of oil were discovered. This discovery will triple Brazil's oil reserves. While it may take some 10 years before the benefits of this discovery may be reaped, the fact that the Brazillian government allows oil exploration off of its shores is the point. Now, if only the US government had the courage to allow oil exploration off of our shores with energy companies simultaneously pursuing alternative energy sources, perhaps we would not be paying $3.40 for a gallon of gas? You can read more about this huge discovery at http://news.yahoo.com/s/ap/20080415/ap_on_re_la_am_ca/brazil_oil

No comments: