Iran brands US dollar 'worthless' - Page 3

ciaobox2007 · 11-19-2007, 06:47 PM

The U.S. just needs to make nice with Brazil now...

http://biz.yahoo.com/ap/071116/opec_brazil.html?.v=1

Brazil Ponders OPEC Membership on Find
Friday November 16, 8:25 am ET
Brazilian Ambassador Says Nation Will Consider OPEC Membership After Atlantic Oil Find

RIYADH, Saudi Arabia (AP) -- Brazil would consider joining OPEC based on the size of the newly discovered Tupi oil field off its eastern shores, the country's ambassador to Saudi Arabia said Friday.
Isnard Penha Brasil said he was attending the Organization of Petroleum Exporting Countries summit to talk with OPEC officials and that "a membership decision will come after we know what our export capacity will be and we think this will be good."

Last week, Brazil confirmed a monster offshore oil discovery and promising fields near the find, although full-scale extraction is unlikely until 2013 and will be very expensive because it is so far below the surface of the earth.

State-run Petroleo Brasileiro SA, or Petrobras, said reserves at Tupi field could be up to 8 billion barrels of oil equivalent, and initial production should exceed 100,000 barrels daily, though experts believe that will grow.

Petroleo Brasileiro SA will start pilot pumping in 2010 or 2011 but it will take several more years for full production to get under way.

The ambassador said Brazil will have a clearer idea about Tupi's export viability within the year.

Brazil doesn't export any crude oil today, making it essential that Tupi yield huge commercial amounts of crude if South America's biggest economy is to join OPEC.

OPEC member Saudi Arabia, the world's largest oil exporter, produces nearly 10.4 million barrels of oil per day. Iraq, another member and 14th on the list, produces just over 2 million barrels per day.

Brazil imports easier and less costly to refine light crude in order to turn it into gasoline products. A lot of the oil Brazil produces is a heavier, high-sulfur crude more suitable as lubricant rather than transport fuel.

Leaders of OPEC are to meet in the Saudi Arabian capital Riyadh Saturday and Sunday to discuss the challenges a potential global recession, an anemic dollar, and rising environmental concerns present to their near-$1.8 billion a day in revenue.

infoseek · 11-19-2007, 06:59 PM

Brazil was a victim of the OPEC, but they broke free and are coming back strong.

infoseek · 11-20-2007, 07:42 PM

Quote:

``The environment is one of the most important issues in the global political environment,'' Saudi British Bank's Sfakianakis said. ``OPEC cannot be seen to be ignorant of climate change.''

The leaders ignored calls from U.S. Energy Secretary Samuel Bodman to increase production, leaving a decision on the output to the energy ministers' meeting in Abu Dhabi on Dec. 5.

Yal don't find that troubling?

If it's not the refineries then it's the depletion or geopolitical interruptions.

The bottom line is we are pushing for more oil, because our currency is backed by it.

We pushed it beyond the point our planet can handle while we're also yelling shortages. It's the suppliers (OPEC) who are finding ways to deal with global warming now.

That should qualify as the fucking irony of the century.

How should we feel about the oil companies? Yeah, that's what I thought.

VKMHVM2 · 11-20-2007, 07:45 PM

Quote:

Originally Posted by infoseek

Yal don't find that troubling?

If it's not the refineries then it's the depletion or geopolitical interruptions.

The bottom line is we are pushing for more oil, because our currency is backed by it.

We pushed it beyond the point our planet can handle while we're also yelling shortages. It's the suppliers (OPEC) who are finding ways to deal with global warming now.

That should qualify as the fucking irony of the century.

How should we feel about the oil companies? Yeah, that's what I thought.

Yep. Global warming will lead to $7/gallon gas. Such a deal.

infoseek · 11-20-2007, 07:50 PM

Quote:

Originally Posted by VKMHVM2

Yep. Global warming will lead to $7/gallon gas. Such a deal.

Do environmentalists want more or less oil around? Make up your mind.

That's right, liberals can only whine and complain, but never know what to do.

I miss E-man. I feel like going to hbo board and pull another fast one, but I'm certain that won't be cool.

BillCosby · 11-21-2007, 11:09 PM

Quote:

Originally Posted by jowey

Yes, they will go with their pocket books, you can bet that the international corporations are playing the currency exchange game. The other countries are looking out for their interests. The corporations are looking out for their interests. This country has been played by the corporations, who are moving their assets overseas.

Yes, currently we are Alpha, but a wolf pack will eviscerate a poor leader, leaving them wounded and bleeding in the ditch.

This is a different era, distance and no effective regional enemies could stand against us. Now we have porous borders, marginalization of domestic assets, poor foreign policies, industrially dependent and economic power is hit with the loan issues.

Yep that is a good analogy..... They will turn on the USA & her clients first chance they can.........

Quote:

Now we have porous borders, marginalization of domestic assets, poor foreign policies, industrially dependent and economic power is hit with the loan issues

......... Yea but other than that we are OK, right...

Yea it is so fragile it is scary........... In a blink of an eye it could all fall down.... & @ some point it will..........

Kanadesaga · 11-23-2007, 04:21 PM

Quote:

Originally Posted by infoseek

Do environmentalists want more or less oil around? Make up your mind.

That's right, liberals can only whine and complain, but never know what to do.

I miss E-man. I feel like going to hbo board and pull another fast one, but I'm certain that won't be cool.

If eman shows here I'm gone. (No big loss I know).

I'm a liberal, here's what I do. I use corn as a transitional energy source to the next innovation. and Use that transitional status to develop the delivery system. It is the delivery system that needs to be perfected. right now the tanker truck is primary to the consumer. the entire oil/gas pipeline system isn't going to convert over to biodiesel.

OIL is always going to be around, if only for NASCAR and the classic car market if nothing else.

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