Saturday December 10, 2005

Brazil takes a major step toward oil self-sufficiency

peakoil.com -> mercurynews.com :

Brazil, once almost completely dependent on imports for oil, is poised to mark an energy milestone that promises to shield it from the twists and turns of the international market. Early next year, Brazil will begin producing as much oil as it consumes, and shortly thereafter it'll join the ranks of the world's net oil exporters.

The accomplishments are due to a years-long push to find oil within Brazil's borders and to decades of government efforts to keep oil consumption low by encouraging the use of alternatives such as ethanol from sugarcane and soy.

The energy turnaround is astonishing for a country that in the 1980s imported 40 percent of its energy needs and whose fragile economy repeatedly has felt the inflationary pressure of soaring energy prices. This year, despite record-high world energy prices, inflation in Brazil has stayed low.

Six other Latin American countries - Argentina, Bolivia, Colombia, Ecuador, Mexico and Venezuela - also have reached the self-sufficiency mark and are producing at least as much oil as they consume.

(2005-12-10 00:23:29 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out