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In Light of Peak Oil, Financial Diversification Is a Bad Idea

A little bit too late to be constructive in this debate, but certainly useful information for those that happen to pass by

Here's a little reality check to those that believe the future will merely be a brighter version of today
"Brazilian Oil Finds May Cost $240 Billion to Develop"
www.bloomberg.com/apps...

And to think they want these fields pumping by 2009. In the middle of a credit crisis? They'll be lucky if they have financing by 2009. And guess what, once they have financing, the estimate will be raised to $500B. And thats if nothing goes wrong in the meantime
en.wikipedia.org/wiki/...

If we see a drop of oil from the fields by 2012 I'll eat my hat

In Light of Peak Oil, Financial Diversification Is a Bad Idea

Brian Pursley - "Allow me to introduce you to some new friends of mine named Barracuda, Caratingua, Tupi, Jupiter, and Carioca."

So you're suggesting that the ultra deep, with no current technology available to exploit Tupi field will replace Cantrell that bubbled up from the ground?

Keep smoking

In Light of Peak Oil, Financial Diversification Is a Bad Idea

Brian Pursley - "Global production was 85.9 million bpd in February of 2008. Peak oil?"
woohoo, that beats the 2005 peak of 85.5mbpd. Glad to see that a 100% increase in oil prices has brought on additional 0.5% more oil into the market. I suggest you familiarize yourself with the production rates of some old friends of yours such as Cantrell and the North Sea.

There will always be oil on this planet. Its just that you won't always be able to pay for it