Obama Underwrites Offshore Drilling

By: cajunkid, 3:16 PM GMT on June 29, 2008

LinkYou read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil. The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to ...

Updated: 11:43 AM GMT on August 19, 2009


By: cajunkid, 4:09 PM GMT on October 17, 2007

http://www.runet.edu/~wkovarik/oil/index2.htmlThe "traditional" view (British Petroleum). THE OIL RESERVE FALLACYProven reserves are not a measure of future supply The Middle East does not have two thirds of all world oil reserves, as is claimed by the oil companies and the US Dept. of Energy. It only has two thirds of "proven" oil reserves. According to the US Geological Survey, other categories of oil reserves need to be taken into account. They say the Middle Ea...

Updated: 2:49 PM GMT on June 29, 2008

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