THERE'S OIL IN BRAZIL!!!

[KenP]

Where the hell is J.R Ewing when you need him?

[mdoyle]

As already mentioned you can use various processes to get production from old wells, acid fracturing is a popular one.

The point is that classic economics don't apply to oil prices- plain and simple.

[Andy C]

Originally Posted by mdoyle

Folks I worked on a couple of the largest platform projects in the World off the coast of Brazil for Petrobras (P52 & P54) and I can say with certainty that the price of gasoline has less to do with supply, reserves, and production than it does with traders and energy companies.

The "summer driving season" is just a B.S. smokescreen. Right now there are more confirmed formations to be tapped than ever before and more equipment for recovery but you won't see $2 a gallon gas ever again.

When P52 fully comes online in Brazil it will increase Brazil's total oil output by 10%, that's a hell of a lot of oil and should make a meaningful surge in supply.

But you and I won't see that reflected at the pumps, sorry to be a buzz kill.....

When were you in Brazil - I was the HSE manager for Stena Drilling down there with the Stena Tay - working for Shell and Petrobras around 2000 / 01.
Currently working for Chevron building the worlds tallest production platform - about 1200' for the jacket - here in Korea.