Thursday, October 21, 2010

Not Needed But Let's Drive Another Nail Into the Coffin of Global Action on Climate Change

Brazil set the petroleum world on its head (and, quite frankly, the world on its head as oil wealth has a large impact on geo-politics) in 2006 when it announced the discovery of the Tupi oil field. Remember all that "God is Brazilian" stuff? Tupi is believed to contain 8 billion barrels of oil (although some claim it is much larger) making it the largest discovery in the western hemisphere. Well, it looks like Brazil just found another 8 billion barrel field, in Libra. Yeah just another cool 8 billion. Nothing to see here, move along...

So, what are the implications? Many, but a few easy ones. More investment in oil production. More oil production. Global action on global warming - er, sorry, climate change - is dead, dead, dead, dead.


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