Thursday, April 24, 2008

The Debts of the Lenders: Crude Oil in ....Brazil?

Brazilians have long been known to produce ethanol from sugar. But now, recent discoveries of offshore crude deposits may hold up to 8 BILLION barrels of oil. Among discoveries in the past 30 years, only the 15-billion-barrel Kashagan field in Kazakhstan is larger.

And these are only the initial findings. Brazil only seriously began drilling research in 2007.


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