Brazil Discovers ANOTHER Massive Offshore Oil Deposit
Fausta reports that Brazil discovered another offshore oil deposit containing as much as 33 billion barrels of oil. IBD says- It’s amazing what you can find off your coast when you’re allowed to look.
But, here in the US democrats will not allow oil companies to search for offshore deposits.
Democrats like to attack evil American oil companies and block them from drilling for oil off our coasts. It doesn’t seem to bother Democrats that Cuba is developing their reserves in these same areas 50 miles from Key West.
Oh, and Brazil is working with Cuba, too.
This is good news for Brazil, a country that already has has one of the freest and most investor-oriented regulation in the world, unlike the US.
The Wall Street Journal reported:
Petrobras CEO José Sergio Gabrielli was flush with bullish insights when he stopped by the Journal’s New York office last week to talk about the Brazilian oil company.
One reason for Mr. Gabrielli’s optimism is last year’s discovery of the offshore Tupi field, which is said to contain between five billion and eight billion barrels of black gold. Another, equally important reason is that, according to Mr. Gabrielli, neither environmentalists nor Brazilian politicians have raised concerns about exploiting oil in the waters off the Brazilian coast.
That’s quite a contrast with attitudes in the U.S., where offshore exploration and development has been all but shut down save in the Gulf of Mexico. One company official explains the difference by saying that Brazilians understand the importance of energy to their future, while Americans do not.
Senator John McCain called today for the lifting of the federal moratorium on offshore oil drilling for states that want to permit it.
Thanks to Democratic “No Zones”, the US Is in Grave Danger
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Despite Oil Crisis, Democrats AGAIN Block US Firms from Drilling!
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Dems Mock Bush– Vow No New Drilling or Nuclear Plants!!
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Radical Conservationists Use Junk Science to Block Oil Drilling
US Has Enough Reserves to Be #1 Oil Producer in the World
Republicans Launch Effort To Force Pelosi Congress To Address Energy Crisis
UPDATE: Babalu has more on China drilling for Cuba.
UPDATE 2: John at Power Line adds this:
Personally, I’d like to see the United States remain the number one economic power in the Western Hemisphere, but this is not foreordained. If Brazil’s Congress is smarter than ours, as it certainly is at the moment, we are at a huge disadvantage. It is said that democracies get the governments they deserve, which implies t
hat Brazilians are smart enough to vote for prosperity, and Americans are not.
Let’s hope Americans wake up soon.
On Hannity and Colmes tonight a liberal politician kept repeating- “We can’t drill our way out of this crisis.”
If democrats keep repeating that silly line until November they can kiss that liberal landslide goodbye.