Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (69687)	6/17/2008 9:23:46 PM
From: carranza2	Read Replies (3) of 74559

Actually, PBR is having a bunch of the rigs built at a cost of billions. It will be a hell of a challenge to get the oil out. The $8-9 per barrel lift cost I read somewhere is a complete joke. The water is extremely deep and the geologic formations that have to be drilled through are challenging. There are very few places where the expertise to conduct these kinds of operations exist. Most are in the USA. Wait until the Brazilian pols get their hands on the revenues. They will piss it away exactly like Mexico did. The internal fight for the cash will create enormous social and politicaal frictions. A whole lot of oil in your backyard is a curse, not a blessing.

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