fatpitch2

High Gold Prices: It's the Oil, Stupid

Michael:

Matt Simmons, not a dumb-bunny, is pushing NH3 (Ammonia) as an alternate fuel source for transportation. His claim is that the current fleets can be converted to run on NH3 at a reasonable cost, and that NH3 can be mfg. from clean energy sources (wind, solar, wave, ....).

Have you any thoughts on this?

Brazil Is the Best of BRIC

Carl:

Thank you for your insight!

Could you elaborate on your comments regarding "nationalization" of the deep water findings. If what you said were to happened what do you think the impact would be to PBR (and to lesser extent EWZ) shareholders?

"It is likely to create a new national oil company, backed by President Lula da Silva, under 100% government control, to take ownership of the new reserves and develop them in partnership with Petrobras and others. While Petrobras is controlled by the Brazilian state through a majority of its voting stock, most of its capital is in non-voting shares. Some 60% of total capital is held by minority and largely foreign shareholders who would miss the opportunity to benefit from exploiting the offshore discoveries."

Thanks