ethics
11-09-2007, 10:48 PM
Looks as if. James made a post about Brazil's offshore find that could put them somewhere between Chavez' Venezuela and Nigeria as far as resources but reading more about this, they won't start exporting till 2013, maybe even 2014. Not only that but they won't be doing millions of barrels per day (bpd) but something like 100K. Of course, the potential is there but when will that happen? Another thing to keep in mind is that they don't export THAT much currently, 2007 figures has them at about 360K bpd.
Now, of course, oil hungry countries will look at this and salivate and while that's important (for them) there are bigger implications--specifically for South America.
Unlike North America's US and Canada, most of the SA countries do NOT like each other. Emphasize the fact that they compete constantly for status, natural resources, and world stage, Brazil just broke the dependency chains they were shackled with. Not, not to Chavez, but equally badly lead Bolivia. Unfortunately for Brazil they currently at a pace of importing 9 billion cubic meters of natural gas each year from Bolivia.
So in summary:
1. Good for countries that depend on oil.
2. Good for Brazil's independence-- and certainly to Petrobas (http://www2.petrobras.com.br/ingles/index.asp) company which IS more than state owned but is run with a very Capitalistic model. Government is hands off due to the success of where Petrobras has taken the entire country.
3. BAD for Venezuela
4. BAD for Bolivia
Now, of course, oil hungry countries will look at this and salivate and while that's important (for them) there are bigger implications--specifically for South America.
Unlike North America's US and Canada, most of the SA countries do NOT like each other. Emphasize the fact that they compete constantly for status, natural resources, and world stage, Brazil just broke the dependency chains they were shackled with. Not, not to Chavez, but equally badly lead Bolivia. Unfortunately for Brazil they currently at a pace of importing 9 billion cubic meters of natural gas each year from Bolivia.
So in summary:
1. Good for countries that depend on oil.
2. Good for Brazil's independence-- and certainly to Petrobas (http://www2.petrobras.com.br/ingles/index.asp) company which IS more than state owned but is run with a very Capitalistic model. Government is hands off due to the success of where Petrobras has taken the entire country.
3. BAD for Venezuela
4. BAD for Bolivia