That's a huge amount of "black gold", lots more (lots and lots and lots more) than exists in US reserves:
A deep-water exploration area could contain as much as 33 billion barrels of oil, an amount that would nearly triple Brazil's reserves and make the offshore bloc the world's third-largest known oil reserve, a top energy official said Monday.Posted by armand at April 15, 2008 04:05 PM | TrackBack | Posted to Economics | Latin America
There's been wishful talk about this for a long time. I remember friends of mine in the 80s who decided to go to college to become petroleum engineers in order to join the effort to find the oil!
Posted by: binky at April 15, 2008 05:50 PM | PERMALINK