Oil reserves????

427 S/O · #1 (**permalink**) 11-10-2007, 05:05 AM

Happened on this yesterday and remembered another huge discovery off the coast of madagascar.

http://www.foxnews.com/wires/2007Nov...robras,00.html

Are we really running out???

imagine2frolic · #2 (**permalink**) 11-10-2007, 06:23 AM

I was in Brasil about 6 years ago. Drove from Cuiaba to Rio, and then north about 200 miles. Stayed with a family on the beach that had worked oil in the USA, and had returned home to Brasil. He told me then there was lots more oil out there as he pointed to the sea. I am sure his paycheck shot skyward along with the company value.

DAVID GAGNARD · #3 (**permalink**) 11-10-2007, 02:22 PM

Quote:

Are we really running out???

Not according to my close friend/chemist that works for Exxon/Mobil.......he has told me a number of times, the KNOWN reserves should last another 75 years minimum.......that's not counting what is potentionaly off the coast of California and Florida where there is no drilling...........not to mention Alaska.........

David

427 S/O · #4 (**permalink**) 11-11-2007, 02:04 AM

Looks like they stand to make super mega bucks, especially since they burn mostly alcohol....