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  • Will Brazil Really Nationalize Oil? [View article]
    Current PBR net oil exports = 0
    Probable future PBR net oil exports = 0

    So this is much ado about nothing. I warned you about Petrobras two months ago. It's a state controlled NOC. Tupi is a tight gas prospect. It doesn't matter a hoot whether Petrobras is renationalized.

    I agree that US domestic policy is crucial and that the political outlook is bleak. I expect gridlock in Washington, populist "windfall taxes" and adverse green regulations. $200 oil seems more likely than $70.
    Aug 31 21:22 pm |Rating: +1 -1 |Link to Comment
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