Is the news that Brazil may have found the 3rd largest reserve of oil good news?

http://news.bbc.co.uk/1/hi/business/7348鈥?/a>Is the news that Brazil may have found the 3rd largest reserve of oil good news?
A good question, and I think I see your point.Either good or bad, the reality is that we do,and will continue to,use it.Our transportation depends on it.Good for the oil companies? Good for Mr.and Mrs John Doe America? We all know,that overall, the whole thing is not good,but what other choices do we have?-- or are we allowed to have?Is the news that Brazil may have found the 3rd largest reserve of oil good news?
They should have kept it quiet till Bush leaves office. Anyway its been found long ago but the news has been dusted down and re-presented to depress sky high oil prices. We will see in the next few days that oil prices will drop further. Its called govt manipulation of the news
Double edge sword really:


Just another reason for man to screw up and pollute more beautiful landscapes


Maybe fuel prices may fall (which lets face it would be good for all us that live in areas where public transport is pants. Oh and it might help decrease the cost of milk etc)
Cool, now Brazil can mandate ethanol for themselves (while cutting down more rain forest to grow sugar cane) and still making a killing as part of the OPEC cartel. Double good news for them.
Its not that big of a deal. Most big reserves have already been found and production has already started ages ago.
They will become unstable and there will be trouble and they will have to ';invite'; America in to stabilize the region.





U can see it coming cant u.
I would have thought so.


Firstly because it should lead to less destruction of rain forests - and secondly because it will lead to less reliance on the troubled Middle East.
Depends if America is willing to pay for it or not !





judging by its history in South America, Brazil is in trouble...
Brazil's economy is good right now and this will make them even stronger. Time to invest in Brazilian commodities.
It will probably hold back the developement of alternatives
Good news for the US....bad news for the Brazilians....no doubt we will soon be hearing about their nuclear ambitions....
What's the betting America finds some reason to have a beef with them some time soon?